EURUSD Channel Breakout or Reversal
Ascending bullish candle formation currently favors the upside, but tax cut passage along the November high line could dramatically reverse course.
For Longs: look for break above 1.1850. Take profit on the September-November high line at 1.19 (+50p)
For Shorts: look for a move below the ascending line and a break below 1.1840. Target the April-September low line at 1.1770 (+70p) or the demand zone at 1.1730 (+110p)
For Longs: look for break above 1.1850. Take profit on the September-November high line at 1.19 (+50p)
For Shorts: look for a move below the ascending line and a break below 1.1840. Target the April-September low line at 1.1770 (+70p) or the demand zone at 1.1730 (+110p)
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