EU expecting another move down

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Following the correction, EU couldn't push past 1.1599. This level is interesting as you can see in the screenshot, the level was respected before as support under oversold conditions before a huge rally. Now, it's overbought and price is beginning to move down. Will this be a minor correction down to continue an uptrend or will it move even farther into the abyss
Chart PatternsTrend Analysis

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