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EURUSD Is Bearish Within Its Channel

  • EURUSD remains below recent highs and the outlook is bearish.
  • The move lower on Oct 29 - a bearish engulfing candle - highlights a failure to clear the 50-day EMA and means the bear channel top at 1.1686 today, remains intact. The channel is drawn off the Jun 1 high.
  • The focus is on 1.1524, Oct 12 low and bear trigger.

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