According to the EUR/USD Linear Regression Channel 1H Chart presents:
The EUR/USD currency pair has been trending upwards. However, during the last two days the pair is more or less moving sideways.
Yesterday's EUR/USD price movement was quite weak which remained within the narrow-ranged bearish Violet and Blue channels depicted on the chart.
Today we are looking forward for a bullish breakout above the upper limit of the violet channel at 1.3350 which is a bullish signal to resume the bullish trend towards 1.3385, 1.3430 and 1.3475.
Price level 1.3270 corresponds to the lower limit of the all depicted channels giving a good BUY entry with SL to be placed below 1.3215.
Bullish breakout above 1.3350 is also a BUY entry but with higher risk/reward ratio.
TP will be located at 1.3385, 1.3430 and 1.3475.
Significant Bearish reaction towards 1.3350 gives early warning that the bullish domination is fading away.
