EURUSD: Still bearish but near a short term upside break out.

The pair remains within the 1D Channel Down but despite the 1.1330 test last week, it rebounded for a new Lower High (RSI = 45.973, Williams = -49.403, Highs/Lows = 0.0000) and has since stayed too close to the Lower High resisting line. If that doesn't drop immediately and retest 1.1330, then the formation breaks to the upside on 1D and can even test the 0.618 Fibonacci level at 1.1620. Even in that case, the long term trend remains bearish on 1W (RSI = 39.345, MACD = -0.012, Highs/Lows = -0.0017) so we remain short on EURUSD with TP = 1.1250.