Since breaking down out of a channel in early September the Euro has now made two attempts to push back inside that channel - just after the breakout and near the end of October. Both rallies were rejected giving this channel line some importance. We also now have a sort of broadening wedge from the April top and the most logical next move would seem to be a test of the lower boundary line of that near 1.3000. That should now be support. A break of the upper line of this broadening pattern would be significant. So short -term and medium term down but watch for a breakout.
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