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EURUSD Buy at the bottom of the Channel Up.

Long
FX_IDC:EURUSD   Euro / U.S. Dollar
The EURUSD pair executed our long term plan as presented on our early March idea perfectly:


Right now, it is rising above the 4H MA50 again (blue trend-line) after nearly touching the bottom of the Channel Up pattern that started on the March 23 High. Since the first Low, the Higher Highs that followed touched the 1.236 and 1.618 Fibonacci extensions. The next one can be on the 1.786 Fib. Our target is 1.1100 and that would be a +1.74% rise, similar to the April 04 High.

Notice also that every High and Low on the Channel has been a High/ Low on the RSI's Rectangle. When it turns oversold again, it will be an early indication to take profit.


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