Forex Trading News: EURUSD Drops, But Stays in Channel

Back to the channel I have been looking at since June 13th. Last night, before the ECB Rate Hike and US Job data, it appeared that there was a strong chance the channel would be broken to the upside and 1.6000 was a reality for the EURUSD. However, as all of the info of the day was digested by traders and appearing that yesterday's data may have been priced in already, we see the EURUSD testing the bottom of this channel. As the extended holiday weekend has begun, it could shape up for a quiet night. But we'll see if the channel holds as next week gets rolling.