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Channel Up pattern's aren't the most exciting type of the patterns, but they offer good trading opportunities. Pattern at hand recently bounced from the pattern's support and seems to be developing inside the pattern rather well. 200-bar SMA recently caused some trouble, but as we can see it must have been bulls capitalizing on their gains before the weekend and pair is likely to resume moving towards the pattern's resistance. Technical indicators give pretty much the same view—appreciation in the short and medium term and consolidation in the long term which could take place due to the end of trading during the weekend.
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