The rates have broken the local descending channel in the daily chart, and are now pulling back to the broken trendline. The rates might jump up away from this broken channel.

The Euro can potentially reach the level of 1.2000. However, the Euro might also head down a long-term perspective:


The rate is approaching the weekly ascending channel away from which it could pull abruptly up. It path might be true as the greater timeframe channel is more significant:


The pair is pulling back to the resistance zone of 58.55-58.76 away from which the pair might head North:

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