EUR/USD is in a Bullish channel, and now its time for it to test the upward trendline, If price breaks above 1.2185 on the 1H time frame, then its likely going to continue to the 1.22 area which is the convergence of the trendline and the daily resistance. What's more, price action broke above the 200 EMA.
Keep in mind that is could close below 1.216 so it would continue downward.
Keep in mind that is could close below 1.216 so it would continue downward.
Note
It closed below so the analysis is not valid till we see a close above the mentioned area!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.