good opportunity to short the euro here. major horizontal resistance level reached. the 4h showed considerable oppostion to the resistance. might wait for the ecb interest rate decision and us announcements today before making a move. a top at 3980 seems plausible. a target at horizontal support level 3790. an upward sloping trendline showed many touches. this trendline has also been touched. usd jpy gives me a signal to buy and nzdusd a signal to sell. considerable correlation.
Comments
adityachhabra9999
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closed the position with 80 pips as the price was rejected at the support. target achieved.
strongwillow
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good analysis and well done
adityachhabra9999
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well thank you sir :)
adityachhabra9999
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the trade was a success. though i havent cashed out. the price is testing the support. there is both a horizontal support and an upward sloping trendline. will wait and watch if it breaks or bounces in the next hour or so.
adityachhabra9999
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for anyone who shorted after ecb. high expectations from this trade would be unreasonable considering the long term which shows an upward sloping loose wedge that is already consolidating. it could go as low as 3790 but that would be the furthest point where i cash out.