The EUR/USD is bearish. However, the failure of 1-2-3 pattern below the channel should make the pair bullish.
If we don’t see the market breaking below 1.1030, we should have a move to the upside. At this point we could see a potential for 1.1050 bullish break. Above 1.1050, targets are 1.1076 and 1.1108. The ATR(5) is only 43 pips, so we might expect a slower market. 1.1076 is the ATR projection for the day.
