Recently, EUR retraced for the second time to the just broken support line 1.1167. Now that the price is below this line, I expect this line to reject any attempts to breakout above it, thus, unless, 1.1167 remains intact, I expect a decline of price towards 1.1082 and even a breakout to continue long. A breach above 1.1167 may push the price further upwards towards 1.1224. On the 4 Hour chart above, sell positions seems more ideal with a stop loss slightly above the recent swing high.
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