EURUSD still in the mid-term downward channel.

EURUSD still in the mid-term downward channel.

As shown in the figure, the EURUSD fell from a high of 1.2349 on January 6 to a low of 1.1704 on March 31, and rebounded sharply to around 1.2150 in April. The entire graph can form a "mid-term downtrend channel". The current price Around 1.20 integers.

The EURUSD price must rise above the April 29 high of 1.2150 in the short term for the April upward trend to continue.

Otherwise, the higher probability that the EURUSD will continue to trend downward in the "mid-term downward trend channel" in the future.

Update: May.6th 2021
Forecast validity: 5 - 15 Market Days.