EURUSD: Long-term channel

EURUSD, Weekly

In the Weekly timeframe, EURUSD has formed an ascending channel pattern. The price has fallen to the lower trend line and is testing the critical support. At the same time, the momentum fell below 100.0.

• A break of the lower trendline below 1.0770 will open the way to 1.0500;

• A rebound from the trendline will take EURUSD back to 1.1050;