Reason - on daily chart it has touched twice the median line of Andrew's pitchfork and it also created a beautiful RSI divergence.
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Stand by, hold your horses :). Days of volatility will come, it could hammer it to 1.61100 briefly.
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Don't rush yet into buying. We need to touch 1.61 tomorrow as a last hammer. Expect lots of volatility.
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Well guys we had a hell of a hammer down to 1.61600. I failed by 50 pips but consider them on my account. Feel free now to go LONG above 1.61500. Of course you can start load longs now if you like a bit of adrenaline :))
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Sorry: above 1.62500
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This one goes great, as planned. The key level was 1.62500. Once the price stabilized above it, it took off. Now goes enjoy thr LONG pips. :)
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Very stubborn this pair. Now after the last drop to 1.61800 there is a Hidden bullish divergence on 4H chart. So we should get back up to 1.63...
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Right back at 1.63. Good...Now it looks like it needs to go unde 1.61 before going up again. During the following two days things will be volatile. I would stay out or only go long from 1.61 or below.