MMBTtrader

EURUSD WE may have new Ascending channel and support touched

Long
FX:EURUSD   Euro / U.S. Dollar
As we explained and know ascending channels are the short-term rise and weak strength when the market is falling and when price break channel lower-side and support then huge fall again start.

But for now this support can hold and it is good time to add some long with tight sl and if price break previous support zone or this trendline then we are looking for short positions once again .

DISCLAIMER: ((trade based on your own decision ))
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Comment: Local support touched rise ahead ?
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Comments

Well we know know that price broke the channel lower and it could keep going lower. Past “local support”. Would have to wait after NFP to see what price will do.
+2 Reply
Nice chart
+2 Reply
good analysis, check out my profile too: here's my recent idea:
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Reply
Perfect!
+1 Reply
UmarAbdurRehman ForexTrendline
@ForexTrendline, that's good trend-line, could come into play i hope next week or so.
Reply
Nice one, but I’ll prefer to buy at the local support on the chart.
+1 Reply
MMBTtrader jamesfort67
@jamesfort67, agree about it if that zone reach it is better chance

but take care if that support touch we should consider breakout too
+2 Reply
Great Job
+1 Reply