This year it broke the rising channel, tested it as the new resistance, but stopped dead with no follow through.
For weeks now it has been stuck in quite a tight range between 1.4100 and 1.4500.
I am still more bearish here as it is putting a lot of pressure on this 1.41 level., however, not so far down below we have a major support area around 1.3800, so we have to be very careful here.
From the topside we have a year-and-a-half falling trendline, so to even consider any longs we really have to push through that one. If we do that we could be looking for another test of the former channel and the major falling trendline, but I wouldn't be looking for targets much higher than 1.5000.