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I was taking a look at this chart this morning. The EURUSD was falling and a break of its trend looked like it could lead to another fall for it to test the 1.2750 level.
As can be seen we had that break below the trend. But what we never had is a consolidation period where the currency pair trades below the trend, tries to trade above and then fails. Without the consolidation phase, such a move is simply momentum dump but doesn't qualify as a breakout play.
Worth watching though to see where it closes for the day.