Erfan.Parvini
Long

Same Scenario as the last time!

FX:EURUSD   Euro / U.S. Dollar
577 3 5
After that huge move on last Thursday, we have been in a consolidation, essentially forming a wedge pattern. The base of the pattern comes at 1.10740, lining up with the previous resistance and 38.2 fib level, giving us nice area to look for potential long entry anywhere in that zone. For targets we could look for it at the previous structure highs around 1.12100 and potentially all the way up at 1.13234 where the 1.27 ext and resistance level line up. Also, very busy day tomorrow in the market for fundamentals, CPI             and FOMC meeting for USD, Unemployment for AUD, and AE Index for GBP, so just be aware. Good luck!
Trade closed: target reached: 150+ pips on Target 1
Trade closed: target reached: 250+ pips on target 2
400+ pips total
Nice trade, I got some 200+ pips on this pair. Do you think now it will head down to test 1.05 again?
Reply
Erfan.Parvini the_Architect
I currently have no idea about the next big trend. We should see whether we can break the highs of 1.13100 and 1.14720. Looking at the Dollar Index though, I think we should still be bullish on this pair. Right now, the move for this week is already happened, we'll see what is gonna happen next week. Good luck my friend!
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