Monthly Channel Bottom Has Shifted
Although today's price levels seem to be the edge of the monthly channel, previous fake breakouts shifted the channel bottom to a new level (red line). Speaking for this month the new cliff edge has become 1.065 for EU.
If price can't bounce today we can guess it wants to retest the new lower edge of the monthly channel.
If price can't bounce today we can guess it wants to retest the new lower edge of the monthly channel.
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