EU.
Notice how price stays below the daily pivot point in the last week.
It tested the monthly R1 but does not want to go trough.
Its just humping against the daily pivot point on Friday trying to go up.
It might have no problems getting above on Monday.
It also broke a trend line.
All this makes me bullish in the short term.
If price gets to 1.11 then It broke the upward channel which get more bears in.
The downward channel may bring the support 1.11 needs.
It may or may not happen.
Another place below the upward channel where i would buy 1.11 is this:
Notice how price stays below the daily pivot point in the last week.
It tested the monthly R1 but does not want to go trough.
Its just humping against the daily pivot point on Friday trying to go up.
It might have no problems getting above on Monday.
It also broke a trend line.
All this makes me bullish in the short term.
If price gets to 1.11 then It broke the upward channel which get more bears in.
The downward channel may bring the support 1.11 needs.
It may or may not happen.
Another place below the upward channel where i would buy 1.11 is this: