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EUR/USD: Ascending Channel

EUR/USD, 1 hour    SHORT Jun 16
We can see that an ascending channel is spotted, the price is ready to break out soon. An ascending channel is said to depict a reliable signal that results in a bearish price move in case if price breaks below support. EUR/USD is at risk of extending its slump towards 1.211 on a breakdown of the ascending channel as bears looking for downside correction.
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