MARKET ANALYSIS: The pair is now trading near the monthly strong resistance level. Now if the resistance level holds on we can see a further downward move to the next possible level at 1.05000 and if the support breaks it will follow to 1.04000.
Alternate Scenario: The monthly resistance level breaks and the candle closes above in the daily time frame we can see a market upward rally to the next possible resistance level. So lets wait and see what the market does in the coming days. Cheers!
Trade active
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First support reached wait for a breakout for further impulse
Comments
JovanVeskovic
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I just spoke to a guy who is the director of a German state bank.... he told
Me the market is fooling you guys and started laughing .... the dolar will be to 99% around 1:1 ----- I would say - ...... who knows.... i believe more support and resistance lines :))))
JovanVeskovic
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@JovanVeskovic, until now this ass was always right :) but I am long :)
paulsubbureddy
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I think as per your technicals one has to wait for monthly resistance level. Is it on closing basis as you taught us in classroom.
Me the market is fooling you guys and started laughing .... the dolar will be to 99% around 1:1 ----- I would say - ...... who knows.... i believe more support and resistance lines :))))