Blue lines- bearish short-term channel
Red line - lower medium-term bearish channel boundary
.Green lines- bullish RSI Divergence
EURUSD is trading around 0.9560. Short-term and medium-term trends remains bearish with no sign of a reversal yet. The RSI in the 4 hour chart has already provided us a bullish divergence warning. EURUSD is trading very close to the lower channel boundary. Combined with a bullish divergence, the chances for a bounce higher have increased. Short-term resistance and bounce target is at 0.97 for the near term and 1.02 for the medium-term. Trend remains controlled by bears and there is no sign of a reversal. No trading opportunities as price is at multi year lows.
