Price action on EUR/USD, a daily chart of which is shown, has finally made a tentative breakdown below the 1.4000 support/resistance and psychological barrier, establishing a new 6-month low for the pair. This occurs after a slight bullish retracement that occurred several days ago which formed a small flag-like consolidation pattern. The current tentative bearish breakdown indicates a potential continuation in the new overall downtrend that began after the previous long-term uptrend was broken to the downside in early December. For more technical analysis on this currency pair,
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