EURUSD stays in the downward price channel on 4-hour chart, and remains in downtrend from 1.2867, the rise from 1.2358 could be treated as consolidation of the downtrend. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2200 area. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 1.2358 already, then further rise to 1.2750 area could be seen.
