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EUR/USD Breaks Above Channel; When Will Market Sell Again?
The 1H EUR/USD chart shows a market anchoring out of a declining channel. This suggests it is ready for a correction. So far, the correction has developed 1 leg up rejected at 1.2780. This move also pushed the RSI reading to 60, where it fell back, reflecting maintenance of the bearish momentum. There is actually a negative reversal signal right now*, pointing with a swing projection toward 1.2640. A close below 1.2720 will be needed to open up this outlook to 1.2640 and 1.26 for this current trading week. If the RSI falls below 40, we can be already done with the correction, and onto bearish continuation, with 1.26 ... (full story)
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