EURUSD ! The formation of an upward correction. What next?🦬

2022年8月3日

EURUSD is forming a local upward correction after a false breakdown of the 1.0000 area. I have marked an uptrend channel on the chart, price is trading in it and is currently testing trend support.

The price is renewing the local tops, but at the moment it is difficult to break through the 1.0265 zone, I think that after the price fixes above the support of the price channel we might see the uptrend momentum again.

I assume that the price can confidently rise from the channel support. On the chart I have marked the nearest short-term target - resistance 1.0357

Regards R. Linda!