EURUSD Sell signal at the top of the Channel Up.

Last time we analyzed the EURUSD pair (June 23, see chart below) we gave a strong buy signals at the bottom of the 1.5-month Channel Up:

EURUSD Channel Up formed bottom. Heavily bullish.

The price is almost near our Target but since it's been consolidating for so many 4H candles on the pattern's top, it is better to take the good profit and turn bearish.

The 0.5 Fibonacci retracement level has been a solid target for the previous two Bearish Legs, but since the last one bottomed just above it on the 4H MA100 (green trend-line), we will place the Target a little higher this time also at 1.16100.

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