FX.co ★ berta.hill | EUR/USD

Traders, greetings????. Based on yesterday's retail sales data, which came out significantly better than expected, the EURUSD pair noticeably dropped after reaching a high at 1.0753. As a result, the price descended from one channel boundary to the opposite one around 1.0675. Although it didn't quite reach it, this could happen on Monday. However, there is a possibility of a continuation of the current uptrend as the price touched the support at 1.0677. In general, there is a local demand zone from where the pair could initiate a new upward movement towards the target resistance at 1.0800-1.0810, which I have been mentioning for about three weeks now. The upcoming week is news-heavy, with many important events, including the FOMC meeting and labor market data, so all attention will be focused there. From a technical standpoint, I am currently looking north within the bullish channel, but if the channel is breached, I will have to reassess my evaluation.