EURUSD is in an uptrend, and the market is in a corrective phase (ABC corrective pattern). The market formed a descending channel from 1.0936 to 1.0651. Since the market has broken above the upper trendline of this channel, we are now sure that the trend has changed and the market is now in a bullish trend.
Currently, the market is very bullish, the price broke above a major zone/resistance zone at 1.0687 impulsively and now the market is likely to drop up to 1.0687. You can enter more buy trades now (at most three trades) with proper risk management.
Origin: FreshForex
