EURUSD today reached as high as 1.2348 inside our target area of 1.23-1.2350. Trend remains bullish as long as price is above 1.2250 and as long as price respects the lower channel boundary.
Green lines - bullish channel
Price continues making higher highs and higher lows inside the green upward sloping channel. There is no sign of reversal yet and trend remains bullish. Our next target area is at 1.25 but we might need first to see a pull back towards 1.21-1.20. We do not want to go against the trend but also it is too risky to open longs at current levels. The RSI is not making higher highs as the price, so bulls need to be very cautious. A pull back is imminent.
