Red lines- bullish channel
Black line- bearish divergence
EURUSD is trading above 1.0750 making new short-term higher highs today. Price remains inside the bullish channel and trend remains bullish. There are increased chances that the upward move that started at 1.0484 will soon be complete and a pull back towards 1.06 will come. The RSI continues to provide bearish divergence signs. A pull back towards the lower channel boundary is justified from current levels. The entire upward move from 0.9536 could also be complete but it is too soon to call a top on this move. As long as price holds inside the channel, bulls are in control. As long as price remains inside the red channel, next upside target is at 1.0950.
