EURUSD Channel Up intact. Still bullish.

There are no major changes on our medium-term outlook on the EURUSD pair, as it has been trading within the (blue) Channel Up since our previous analysis, offering good intra-day profit opportunities:


As you see, the price hit again the 4H MA50 (blue trend-line) and rose back to the top of the Channel Up in a similar fashion as January 19.

As long as the price closes above the 4H MA50, it will be a solid short-term buy opportunity, targeting the top of the Channel Up. Below the bottom of the blue Channel, we expect further selling towards the 4H MA200 (orange trend-line) for the first time since January 06.

As long as the 1D MA50 (yellow trend-line) holds, EURUSD remains a medium-term buy opportunity, eventually aiming at the 1.09400 Resistance, which is a triple top (April 07, 11 and 21 2022 Highs). A break below the 1D MA50, can restore the bearish trend, and we will target the 1D MA200 (red trend-line).



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