AnalyseForexTechnical Analysis of EUR/USD

Technical Analysis of EUR/USD

The EUR/USD prices are trading within a sideways channel, forming a rectangle pattern on the hourly timeframe. Currently, if the price declines and breaks below the lower side levels at 1.0795, and closes below it, there will be a strong buying opportunity with targets reaching 1.0750 as the first objective. However, if the price remains above these levels, an upward movement is more likely.

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