Long

EURUSD Rally already underway on the 1D MA50.

The EURUSD pair has been trading within a Channel Up since practically the beginning of the year. The recent rebound (May 12) on its 1D MA50 (blue trend-line) has technically started the pattern's new Bullish Leg.

Given that the previous two have risen by +7.50% on average, and were both confirmed by a 1D MACD Bullish Cross like the one formed today, we expect a minimum +7.20% rise from the bottom. Our Target is 1.18500.

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