EURUSD remains in downtrend from 1.2867, the rise from 1.2358 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2200 area. Only a clear break above the channel resistance will indicate that the downtrend had completed at 1.2358 already, then the following upward movement could bring price back to 1.2750 area.
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