DeGRAM | EURUSD decline in the channel

EURUSD is in a descending channel between trend lines.

Price has reached the upper boundary of the channel and dynamic resistance and is now holding under the 62% retracement level.

The chart has broken the descending structure, but the ascending one has not been formed yet.

The indicators on the 1H Timeframe indicate local overbought and a bearish divergence has formed.

We expect a decline in the channel after a retest of the upper boundary.

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