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jcmoneyman
Dec 4, 2022 9:02 PM

EU Long, Then short Long

Euro Fx/U.S. DollarFXCM

Description

DXY looks to have found resistance on the Daily and 4H, with bullish divergence. This indicates USD may be getting strong and ready to reverse to go long for a bull run. I'll be looking for sells on EU and maybe GU.

D: Uptrend, passed -61.8 @ previous support resistance
4H: Uptrend, retraced to 61.8 and broke above resistance. Bearish divergence.
1H: Uptrend, retraced to 38.2 and broke above resistance. Bearish divergence.

CURRENTLY: I'm looking for price to go a little more to retest trendline @ -27 on 1H FIB

I'm really looking for a sell, seeing if price will short to previous resistance

~60 - 120 pips

Trade closed: target reached

Comments
Tradersweekly
Thanks for the content.
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