Red lines- bearish channel
EURUSD is trading below parity against the Dollar. This week bulls made an attempt to break above resistance and reach 1.02 but they were unable to hold on to their gains. Price got rejected at 1.02 and price remains trapped inside the medium-term bearish channel. The upper channel boundary resistance is at 1.0345. Support is at 0.9910-0.9945. A break below this level will open the way towards 0.97. There is no sign of a trend reversal. Bears remain in full control of the trend.
