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Short

EUR/USD Short term outlook

FX:EURUSD   Euro Fx/U.S. Dollar
669 1 6
•RES 4:1.1035 (Apr 6th High)

•RES 3: 1.100

•RES 2: 1.0935 (61.8% retracement of 1.105 and 1.0520)

• RES 1: 1.0847 (Apr 17th high)


PRICE: 1.08036 @ 6:19 GMT

•SUP 1: 1.0800

•SUP 2: 1.0753 (200 day HMA)

•SUP 3: 1.0640 (61.8% retracement of 1.0520 and 1.0847)

•SUP 4: 1.0580 (15th Apr low)

Commentary:

EUR/USD             has retreated after making a high of 1.0895. It has formed Bearish gartley pattern in hourly chart and decline till 1.0680 is possible.

Technically EUR/USD             is facing major resistance around 1.0935 and any break above would extend gains till 1.100/1.1035. The major support is around 1.0640 and any further weakness can be seen only below that level.

Sell around 1.0850 with stop around 1.0936 for the target of 1.0680.


riskmode TOP
2 years ago
Hmmm 1.0936 is right around the 78.6 which is where you should be selling the gartley you outlined to begin with. You want to stop the trade out here instead?
+1 Reply
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