EUR/USD Intraday Technical Analysis & Bullish opportunity October 28, 2011

EUR/USD was trending down inside a bearish channel since June.

Yesterday we had a full body bullish breakout of this bearish channel also breaking an intermediate resistance at 1.3950.

Based on the previous analysis, there's a bullish opportunity on retracement down to 1.3950 on the retest of the broken channel and resistance now working as support.

SL should be daily closure below 1.3900 & TP will be 1.4050, 1.4100, 1.4200 then 1.4270.