EURUSD is not making any real progress at the start of the week as price is trading near Friday's close. Price is moving around 1.1450 and has so far formed an upward sloping channel. Short-term trend is bullish as long as this channel remains intact.
Bulls remain in full control of the trend. A new higher high towards 1.15 is expected to come most probably this week. Support by the lower channel boundary is at 1.14-1.1420. EURUSD is making higher highs and higher lows since the 1.1122 low. We expect this to continue as long as price holds above 1.14. There is no sign of a top or a reversal yet.
