After a tremendous rise to the upper side, Eur is currently rallying within a falling channel formation. This is a flag formation and could signal an increase in the previous dominating up trend. If the price can breakout above the upper trend line, then this will be another good place to pick long position towards 1.22. As it is, I expect a decline in price towards the lower trend line and then a bounce to pick a long position. If the price breaks out below the lower trend line, then I expect a decline towards 1.1200.
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