The price is clearly in an up trend channel, it has broken up through the minor trend line as well as bounced on it forming a higher low. This could also be seen as the right shoulder, in the head and shoulders pattern. We are looking at taking profit around the previous high.
We see that EURUSD has made a double bottom on the support line of the uptrend channel, the price also broke through the neckline of the double bottom indicating that it is moving up.
