Chart of the day

EURUSD is testing the uptrend channel support of 1.06900. A bounce here and a break above 1.0880 would lead to an extension higher to 1.16000.

This is still viewed as the fourth wave pullback of the upside five unless we see a break below 1.06900. In that case, an upside continuation will be invalidated

Long trade, You can open here with the stops below 1.06900. You can reverse to a short trade entry in case you are stopped out from a long trade. We favor the long trade entries as we expect an upside extension from this vital support at the rising wedge.