$EURUSD - To Invalidate or Not - Channel Regression
EURUSD Folks, last weeks price action on this par moved as had expected where the lows were tested following a failure to carry forward. A new downward sloping regression channel has formed due to the upward price reversal set in place by the past few trading sessions, showing the upper & lower area range channel of $1.0533 to $1.0678. Price action next week will have to break out of the upper range level of $1.0677 to invalidate this new channel otherwise we'll see price action momentum continuing it's downwardly direction. A little help from other cross pairs ; namely a weakening USDJPY, should push up the EURUSD. If this happens, look for price action movement to target $1.0812 levels. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.