In yesterday's analysis, I discussed about the potential where EU is respecting the channel formation and it could once again reject from 1.2309 technical resistance for the third rejection, which was exactly what the market performed. As long as the channel formation is respected, we will only be looking for short-term buying opportunities. Will be looking for long opportunities if price rejects off 1.2270 support zone, or an upwards breakout of 1.2309 daily high for a break & re-test setup. However, if we begin noticing bearish sentiment in the market violating the channel formation, we would then shift our bias to bearish and potential sells back to 1.2170 support zone.
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