EURUSD: Classic Breakout Trade

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The EURUSD broke and closed above an important daily support level.

Following the breakout, the price retested the previously broken level and began to consolidate, creating a tight trading range.

A bullish breakout from this range serves as a strong confirmation of a bullish trend for the day, increasing the likelihood that the breakout is legitimate.

It is anticipated that there will be an increase in price, potentially reaching at least 1.0439.

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