FX.co ★ EUR/USD analysis for May 04 2021 - Breakout of the upside channel and potential for test of 1.1880

Further Development

Analyzing the current trading chart of EUR, I found that there is the breakout of the mini upside Pitchfork channel and the rising trend-line, which is sign for the downside movement.

My advice is to watch for selling opportunities on the rallies using the intraday charts.

The downside targets are set at the price of 1.1950 and 1.1880.

Key Levels:Resistance: 1.2020Support levels: 1.1950 and 1.1880.