Since October 27, EUR/USD currency pair has been trending down inside a bearish channel marked on the chart.
Last Week, EUR/USD spent few days moving sideways inside a consolidation zone 1.3275-1.3400.
On Wednesday, we had a breakout to the upside also breaking the marked bullish channel extending since October 27.
The pair didn't re-test the backside of the broken channel yet. Instead, it showed a consolidation zone between 1.3416-1.3530 then retested the previous consolidation zone 1.3275-1.3400.
On Friday, we suggested having a long entry at 1.3380 which was trigerred the same day giving now about +50 pips.
The most prominent resistance levels are: 1.3530, 1.3600 then 1.3800.
The most prominent support levels are: 1.3380, 1.3280 then 1.3215.
Based on the previous analysis:
For those who didn't catch the first trade on Friday, they should wait for a retracement to a price near to support level 1.3380 with SL placed below 1.3260.
TP should be at 1.3440. 1.3500, 1.3570, 1.3600 then 1.3670.
