The EUR/USD pair is still falling although it has found some support on the daily chart from the lower line of a down-sloping wedge. It is possible that it could bounce from this level although there is still no reversal set-up yet. On the 4-hour chart the pair is rising inside a down-sloping channel and it is expected to meet resistance from the upper channel line at 1.2215. If it is successfully pushed back down then it it could fall to the 1.2125; if, however, it breaks out higher than it would rally to 1.2300.
Written by Forex4you