FX.co ★ EUR/USD

EUR/USD,technical analysis. I continue to wait for the technical trading off the resistance line of the descending channel (trendline) , which will give me the final answer to the question, what exactly was that breach of the trendline and its nature in the end? If this was manipulation in the form of "false breakout",- the main scenario, then the bears drag the price into the structure of the daily channel, and patch upthe hole in the trendlineas if it never existed. In this case we have: confirmation of the completion of the corrective phase; restoration of the daily trend with preparation of sellers' attack on the local support in the area of 1,13410; If the trendline is working in the market as an inclined support, then it first softens the pair's landing in this area, which means there should be a slow convergence of price with the trendline and the formation on its basis of a local trough. In this case, the breakout setup works as part of the template: breakout-retest- continuation impulse.