FX.co ★ bridget.franecki | TST as the Foundation for Medium-term Trading

I’ve got a rather interesting channel forming on my eur/usd. Within this channel, we can assume a couple of possible scenarios for how things might develop. Taking into account what the levels are showing for today and where the day opened, we can expect a decline according to this red scenario, down toward the lower boundary of the yellow channel. And if that happens, then we’ll need to see where and how the day closes. The other option is a continuation of growth according to the blue scenario toward the daily balance at 1.1607. But if price goes that way, then we should already be counting on the end of the correction and looking for the formation of a new downside move. Those are my thoughts for now.