A bullish channel starts in early December 2015 and it lasts approximately 3 months, starts at 1.0520 and picks even at 1.1375 (around 850pips). Nowadays we see a sharp bearish trend from the upper level to support level of channel. Breaking this channel should be a little hard and may need an important NEWS back of it as a fundamental reason. The most probable option is bouncing on support level. Also psychological support level in 1.1000 is touched already and it will raise the chances for changing trend now. The two nearest goals could be 1.1050 and 1.1130 in upward probable move.
Technical analysis of EURUSD dated 24.02.2016
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