So, in my previous post I've mentioned the target in the circled area, which we reached. Good profits. You can check out my previous analysis on this below in the related ideas section.
Now the next step is, will it continue climbing up the channel or will it break it and give us some new levels on the downside? At the moment it is difficult to say as it is flirting with the bottom side of the channel. We need a good strong bar to the upside or a good close of a Weekly below the channel.
My preference would be to the downside as I would like to see some weakness in the Euro. But hey, it doesn't matter what I want.
As always, keep an eye on the price action!
Now the next step is, will it continue climbing up the channel or will it break it and give us some new levels on the downside? At the moment it is difficult to say as it is flirting with the bottom side of the channel. We need a good strong bar to the upside or a good close of a Weekly below the channel.
My preference would be to the downside as I would like to see some weakness in the Euro. But hey, it doesn't matter what I want.
As always, keep an eye on the price action!
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