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Blue lines -bearish channel
EURUSD is trading above 1.07 once again. Today's Daily candle is a glimpse of hope for bulls as price moved as low as 1.0652 but is now trading near its daily highs. EURUSD has formed a higher low relative to the 1.0627 low a few days earlier. Although price remains inside the medium-term bearish channel, there is potential for a move towards the upper boundary near 1.0920. As long as price is above 1.0627 we remain optimistic that bulls will challenge the upper channel boundary.
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