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After a small retracement the price should be be cross the channel to the upward side because there is a lot of support confluince points below I think the price will be reject from 1.3995 and don't get into trade before the confirmation see macd divergence also there

if break the support go lower

If break the support then it can go lower for deep retracement.but I don't think that it can broke the support but let see looking for confirmation signal above or below

Screenshot_20180205-184522.pngScreenshot_20180205-184503.png

H4 and h1