EUR/USD Intraday Uptrend Line Set Up
The 60 minute EUR/USD has formed an uptrend line with the first touchpoint going back to July 23rd. This uptrend line is of particular note because this market has transitioned into the early stages of an accumulation cycle. The uptrend line set up for a potential breakdown momentum entry if prices can pierce the support which is currently positioned near the 1.4208 level. It would be wise to let a few pips go by ans wait to see if the 4200 will break before shorting the move lower.
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