EURUSD: Repetitive sell channels show 1.1330 ahead.

Following the rejection at 1.1485, the pair has formed a new Channel Down on 4H (RSI = 51.975, Williams = -23.7939) that is very similar to measurements to the previous two that emerged after identical rejections within the 1.1450 - 1.1500 zone. This repetitive pattern shows that after an initial +0.66 - 0.77% rise for a Lower High we should be expecting a decline to 1.1300, which is our intermediate target. 1.12700 is the end of this pattern and the most likely medium term target.

Below is our long term approach on EURUSD:




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