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Showing posts with the label weekly chart

EUR/USD breaking trendline and turning bullish

Below chart on the 1h frame shows the pair reversing and closing above hourly bearish trendline from 1.1260$ , Currently trading at 1.1215$ ... So for short term trade , you might want to wait for a test of the supporting trendline and go long targeting 1.1225$ area, However I dont recommend this trade as the pair is reversing on the weekly chart as shown in this post.

EURUSD Still bearish on weekly basis

That will be the trade for month of June , Possible good correction for #eurusd from multi month high not seen since before Trump winning presidency. On Weekly chart , You can see the pair reversing from bearish trend line. So , it is good to go short at current level around 1.12$ with Stop loss on weekly close above the trend line. The target of the correction will be around 1.0930-1.10$.... And there is a gap not filled yet between 1.0720-1.0820$ , So it might be targeting to fill this gap.