The price reached the support level and struggled to make a new extension downward. Even though FX:EURUSD made a weak lower low, which suggested that bears are not ready to sell at current prices, the market formed double-long-tailed bars at the support level. We can see that it keeps rebounding above key level at 1.06000. The price is also forming a potential compression channel with bullish divergence. Overall, I expect a breakout downward channel, then retest the resistance. My goal is the resistance zone at 1.06700
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