EURUSD remains in uptrend from 1.2661, and the rise extends to as high as 1.3308. Further rise is still possible next week, and next target would be at 1.3400 area. Support is located at the lower line of the price channel on daily chart, as long as the channel support holds, the uptrend will continue. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend from 1.2042 is underway, then deeper decline to 1.2800 area could be expected.
For long term analysis, EURUSD had formed a cycle bottom at 1.2042 on weekly chart. Further rise towards 1.4000 could be expected over the next several months.
