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EUR/USD stays in the upward price channel on daily chart, and remains in uptrend from 1.0462. Support is at 1.0819, as long as this level holds, the uptrend could be expected to continue, and further rise to test 1.1533 resistance could be expected, a break of this level will confirm that the long term downtrend from 1.3993 (May 8, 2014 high) is complete, then the following upward movement could bring price to 1.3000 area. On the downside, a breakdown below 1.0819 support will signal completion of the uptrend from 1.0462, then next target would be at 1.0000 zone.


By Theodoros  Batsoulis
Technical Analyst
Risk Market