Euro Challenging Yearly Range
Channels within channels!
Euro's attempt to breach the yearly (Feb) range highs was met with an outside-day reversal candle.
Pullback keeps price within this near-term ascending channel formation. Look for the breakout in the days ahead.
Topside breach exposes 1.2748
Break of this near-term channel would threaten a test of the 2022 uptrend (currently near 1.0630s).
Michael Boutros, Sr Technical Strategist with FOREX.com
MBForex
Euro's attempt to breach the yearly (Feb) range highs was met with an outside-day reversal candle.
Pullback keeps price within this near-term ascending channel formation. Look for the breakout in the days ahead.
Topside breach exposes 1.2748
Break of this near-term channel would threaten a test of the 2022 uptrend (currently near 1.0630s).
Michael Boutros, Sr Technical Strategist with FOREX.com
MBForex
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