EUR/USD is heading towards the resistance line of a Channel Down and could reach this point within the next 5 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
A quick move expected on EUR/USD as it starts approaching a resistance line of a Channel Down
