Broke out of a downtrend?

FX:EURUSD   Euro / U.S. Dollar
I trade the trend reversals on the H1 chart, i don't do predictions at all, but i couldn't help noticing this on the Weekly. The 1.20 floor is a major support line (ECB protected). Are we breaking out of the downward channel into the uptrend now? Look at stoch , and we all know what happens when RSI crosses the 50 upwards.


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