EURUSD is seeing some relief today, breaking above a 4-hour descending channel I discussed in Saturday’s Weekly Forex Forecast. It isn’t surprising, given how aggressive the selloff from the euro has been since May 4th. I’d also expect additional relief going into June as you tend to get an early month retracement after a big move like this. If EURUSD bulls can flip this 1.0700 area to support today, we could see gains toward 1.0760. However, the 1.0760 resistance area will be a massive challenge for euro bulls considering last week closed below it. A 4-hour and daily reclaim above 1.0760 would expose 1.0830 But all ... (full story)