EURUSD stays in the downward price channel on 4-hour chart, and remains in downtrend from 1.2867. As long as the channel resistance holds, the rise from 1.2358 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.2200 area. Key resistance is at 1.2508, only break above this level will indicate that the downtrend had completed at 1.2358 already, then further rise to 1.2750 area could be seen.
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