The EURUSD has managed to claw its way back to the top of the descending channel the pair has followed lower over the last few weeks at 1.2970.  A hold of this level could lead to another test of daily price support at 1.2885.  These levels appear to create a wedge within the channel.  If the bottom of the wedge gives at 1.2885 a test of channel support at 1.2840 could play out.  If the cross manages to break above the channel and wedge resistance begins at 1.3020.

Sup       1.2885                 1.2840

Res       1.2970                  1.3020

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Keane Plan....Watching the price action at the channel top...Favoring a move lower.