EURUSD inside upward channel

 EURUSD is trending upwards within our red channel. The move still looks corrective, with those overlapping waves as the main characteristic. The move could unfold into an impulsive wave but I feel it is more possible for the bigger downtrend to resume. The pair could try and test the lower red channel support just below 1,24. If this upward move continues to have overlapping waves it could top around 1,2650-1,27.

Taking a closer look at the 30m chart, we can observe that all the upward moves look and feel impulsive, whereas the down moves are overlapping and with corrective form. As mentioned above this move inside the red channel could become a larger impulsive upward wave. But still it is not one. Therefore we have to be mindful of the bigger downtrend that can resume any day now. 

If you need more info or help with trading this pair don't hesitate to contact me. Again thank you for reading my thoughts.