0511 EURUSD just start its wave 5 inside the channel
EURUSD has a weak rally last week.
That made it back to test the channel again and make a bear look for sellers.
Considering the highest position of last week just hit the channel and bear views still on EURUSD, we would suggest this is a reflection point on the channel .
EURUSD could test 1.10 later after breaking down the 1.13 support.
To prevent that happen, it needs sideways to break the channel.
Lets see how it go on 4H chart.
Less is more!
That made it back to test the channel again and make a bear look for sellers.
Considering the highest position of last week just hit the channel and bear views still on EURUSD, we would suggest this is a reflection point on the channel .
EURUSD could test 1.10 later after breaking down the 1.13 support.
To prevent that happen, it needs sideways to break the channel.
Lets see how it go on 4H chart.
Less is more!
