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If you look closely on EJ, it had a H&S, which is now completed, we know after H&S get completed, a move to the neckline will be next,
Completion of the H&S was also a retest to the double bottom that i indicated above.. so this means this pair will now go up!!
We are expecting this pair to fall following rising flag or bearish flag pattern
There are 2 things expected when the pair reaches 0.7470
1. A rejection that will form double bottom targeting 0.7860
2. A break down satisfying the bearish flag fall targeting 0.7230
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We expect this pair to fall because of the BEARISH FLAG,
there will be 2 things that we expect when we reach 0.7470
1. Rejection that will form double bottom with target 0.7860
2. Breakout that will satisfy the bearish flag continuation with target 0.7235
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We have seen a EURUSD going up for long,
it got rejected up to the neckline level, and when it was suppose to be rejected on the shoulder level it went though up, creating a head, it went back to the neckline, now we should be completing a shoulder then we go down for days!!