The EUR/USD pair has broken out of its rising channel and will probably fall to match the target for the breakout based on the channel depth at 1.2375. In the very short term, however, bullish candlesticks are warning of the possibility of a move higher to re-test the underside of the channel first, situated at 1.2590.
Analysis prepared by:
Joaquin Monfort
Forex4you analyst
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