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EUR/USD Analysis: Reveals Ascending Pattern

The EUR/USD currency exchange rate has revealed an ascending channel pattern. The pattern represents the rate’s surge following the bounce off from the lower trend line of a dominant descending pattern.

In the near future the rate is expected to continue its surge in this pattern higher until it meets a strong resistance levels, which might stop the surge and break the pattern.

Meanwhile, note that Dukascopy Analytics are taking the next week off. Use the pattern for guidance and note that the markets will be closed during the holiday days.

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