From the begining, I hesitated how it will move, will it be able to get through the upper line of the previous channel (purple line) or it will move in a new channel (blue lines). I suggest to take a look at Elliot Wave pattern built in current small channel (orange lines). It looks like the line 5 is to be done yet. That's why I suppose the EURUSD will be going inside a new channel and soon it will rise.
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