FX.co ★ EUR/USD Intraday Technical Analysis & Trade Recommendations for January 16, 2012

Today the EUR/USD pair failed to break the lower limit of the yellow channel presenting its movement for the last three trading days.
After that the pair showed the bulls’ presence seen by the break of the blue channel presenting the last trading day movement.
This indicates a bullish opportunity at 1.2660, which is the retest of the broken channel targeting to 1.2700, 1.2730 then to 1.2760, which, if broken, will open the way to 1.2800 as a final TP level.
SL should be a break of the low at 1.2620.