EU breaks upward trendline, could head lower

FOREXCOM:EURUSD   Euro / U.S. Dollar
After observing some nice upward momentum in the pair, it looks like we could start trading a little lower, as the pair hated to be above 1.20. With the break of the trend line we were tracking after the bull flag pattern appeared, the pair may trade back down into the 1.1800 area before potentially heading lower. We will look to see if 1.18 will hold as support, or if it will turn into a classic support-to-resistance play.


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