According to the 4 hours chart attached, EURUSD is currently within rising channel formation. On this chart, following the bounce from the supportive trendline, we expect nothing but a possible momentum to the upperside. However, since the price has pulled back perfectly towards 23.8% fib level, we are likely to see further correction to the lowerside towards 38.2% fib level and may continue to the lowerside. And on the upperside, should the price breakout above the upper trendline, then further momentum to the upperside is expected.
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