EURUSD below 1.17 = downtrend?

FX:EURUSD   Euro / U.S. Dollar
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As long as prices remained below 1.17, I believe EURUSD will start to trend lower. In addition, we could see that prices formed a head and shoulders in the daily chart .

However, if there is a daily close above 1.17, it will negate the H&S formation & 1.17 support turned resistance structure.
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