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EUR/USD is Either Done with a Double 3 Correction or Continuing a Zig Zag
The EUR/USD can be see channeling in the 1H chart, although in a very subtle slant, suggesting this is a corrective channel against the decline from 1.4246 to 1.3608. The channel has projected support in the 1.3680-1.37 area. A break below 1.3680 with the push of the 1H RSI reading below 40 suggests bearish continuation. Note that the RSI reflects consolidation, but also maintenance of the bearish momentum as it never sustained a break above 60. The market established a pivot at 1.3790. If a pullback fails to break above this level, the market shows bearish dominance in the short-term. However, a break back above ... (full story)