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PAGuy
Feb 16, 2014 1:34 AM

Nearing Monthly Resistance, but could break with the USD... Long

Euro Fx/U.S. DollarFXCM

Description

Inside bar / 2 bar reversal

On the break of the mother candle, this has a good
chance of going up to at least the 1.6 fib level.

Looking at the daily, it has rejected shoulder line support,
and broke out of a channel, which I also think could be a bull flag
with a 700 pip TP.

It is near some strong monthly resistance, which also looks
like a triangle. Could breakout, waiting to see PA in that area.
Comments
1stalgorthm
Stoch hasn't reached the over bought area.
PAGuy
I don't use indicators apart from a few MA's, but thats a good sign then..
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