ForexWeeklyAnalysis
Long

200 pip loading zone for potential longs on EUR/USD

FX:EURUSD   Euro / U.S. Dollar
115 2 2
This is an updated chart from my other analysis here: (Low 1.38XX will decide if EUR/USD             had a fake breakout or not)

- High 1.37XX region is 38.2% fib level (price did puncture but has closed above it on daily and weekly charts)
- Mid 1.37XX region is Thursday's low
- Low 1.37XX region is the 50% fib level
- Mid 1.36XX region is the 61.8% fib level and previously resistance as well.
- Low 1.36XX region is an untouched level from previous price action as well (forgot why but I have it noted)

Risk is difficult to determine since there are so many potential bounce points but if I had to draw a line in the sand, it would be at 1.65XX/1.655X.

Target 1: Low 1.40XX (Let's face it, price almost always overshoot round numbers by a bit)
Target 2: Mid 1.42XX (High of October 2011)
Today is Friday, so the weekly candle closes today. Unless price somehow manages to surge upwards, we're going to have a red weekly candle which will confirm the breakout was fake and nullify the long set up. Having said that, I'm still watching the mid 1.36XX region for a possible short term bounce point to retest the trend line before the big drop.
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I see pair still on the trend line we may need to wait alittle more to be sure its broken
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