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Downtrend for EUR/USD
The price for EUR/USD rallied to the descending trendline, but while it managed to move above this trendline, it was not able to hold above it.
The turn lower now suggests that the downtrend is back in play, and we look for a move to $1.2250 and then $1.2165. A rally back above $1.24 is needed to reverse the bearish outlook.
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