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14.09.202013:20 Forex Analysis & Reviews: EURUSD remains inside the bullish channel

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EURUSD is moving above 1.1850. Trend remains bullish as price so far has respected support at 1.1750 and 1.18. Price has challenged the lower channel boundary but bulls were strong enough to give price another push towards 1.19.

Blue lines - bullish channel

Pink line - support trend line

EURUSD is bouncing off the channel boundary. As long as price is above the 1.18 level trend will remain bullish. Next key short-term resistance is found at 1.1945. Breaking above this level will open the way for a move towards 1.20 and higher. My first upside target is at 1.2055. Secondary target is at the upper boundary near 1.2250-1.23. Breaking below 1.18 will be a bearish sign which will imply a move towards 1.1650 is underway.

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