EURUSD remains in downtrend from 1.3817 (Mar 17 high) and the bounce from 1.1876 is more likely consolidation of downtrend. Further rally is still possible later today and target is at the upper border of the falling price channel. As long as the channel resistance holds, we’d expected downtrend to resume, and another fall to 1.1800 is still possible, only a clear break above the channel resistance will indicate that the fall form 1.3817 has completed at 1.1876 already. 20100614_eurusd_1.gif