On the EUR/USD daily chart, the Bears tried to launch a counterattack, but they stumbled upon the solid resistance.There are many buyers in the area of 1.108 – 1.112. As a result, a triangle was formed and the risks for consolidation within the range of 1.1125-1.1245. increased.
To restore the uptrend, the May peak needs to be updated around 1.1265.
On the EUR/USD hourly chart, a breakout of the upper boundary of the descending trading channel does not guarantee the continuation of the rally. Bears might try to launch a counterattack in the area of 1.124-1.1245 (target 88,6% of the Shack inverted pattern.).
Origin: FX BAZOOKA
