EURUSD remains in downtrend from 1.2867, the rise from 1.2441 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2200 area. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 1.2441 already, then further rise to 1.2800 area could be seen.
