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Lingrid
May 7, 2021 12:17 PM

EURUSD correction to the RESISTANCE line and FALLΒ Short

Euro Fx/U.S. DollarFXCM

Description

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After the price reached the strong resistance zone of 1.215 at the beginning of the month, it turned around and started falling towards support. However, throughout the last day, the price was growing. Nevertheless, I expect the continuation of the fall, since the resistance zone from which the price will fall contains four lines at once in July, February and December 2020 and January 2021. The price has just corrected to the resistance line of December 2020 at the point 1.208 and after that I expect the fall to continue. So my final target is the 1.181 support area.


Traders, if you like this idea or have your own opinion about it, write in the comments. I will be gladπŸ‘©β€πŸ’»
Comments
Cyber-FX
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This time Your analysis Goes wrong... EU Is In totally Opposite Direction and now Who Knows, How Much More EU will rise... 😐
SmartXbot3AutoTrade
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it is in extremely opposite bcs of NFP data.. who could predict the data plummeted that much? stop loss is a must in every trade
Cyber-FX
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i am Near About To Blow My Account, Just Have some 800 More Margin To Continue Trade Lets see what Happend now...
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