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It seems that EUR found a channel between $1,16 and $1,2 to test and retest supports and resistances. In the last days EUR gains power and we suppose investors believes that a Biden election will reduce USD power.
So it's likely EUR will go up towards breaking the green long term trendline trying to look at new ATH since 2018.
Some retracements and rebounds inside the known channel can be expected, but a downward breakout of $0,16 could open very different scenarios.
It seems that EUR found a channel between $1,16 and $1,2 to test and retest supports and resistances. In the last days EUR gains power and we suppose investors believes that a Biden election will reduce USD power.
So it's likely EUR will go up towards breaking the green long term trendline trying to look at new ATH since 2018.
Some retracements and rebounds inside the known channel can be expected, but a downward breakout of $0,16 could open very different scenarios.
Trade closed: target reached
Better make some cash still keeping the long position
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.