Will EURUSD return to channel?

Last week I identified this strong bearish channel on the 4 hour EURUSD chat, because of news from EUR and USA on thursday/friday we saw a break out of the channel. But, I do not feel that this is strong enough to say that a trend change has started. My gut feeling (which is all it is this morning) is that there is hardly any news today and that it will, as it has done for weeks return back into the bearish channel. I have an order to SELL EURUSD if it does and thanks to a DecisionBar sell signal (3 of them!) last week on the hourly chart my SELL EURUSD at the top of the bounce out is doing well and will look for a target of 1.282 at the centre of the channel.


Leave a Reply

%d bloggers like this: