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EURUSD Channel Breakout Fails

  • EURUSD last week cleared the bear channel resistance drawn off the Jan 6 high but has failed to remain above it.
  • The warning is a false break and if correct highlights a bearish threat.
  • Watch support at, 1.2014/1987, the 20- and 50-day EMAs.
  • A break of this zone would signal scope for a deeper pullback towards 1.1943, Apr 19 low.

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