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This is the EURUSD on the daily, what we see here is price action approaching a very a good shorting opportunity that will offer great reward with very little risk. We can see here that in an uptrending the market price retraced to 50% of the X to A leg and after such a retracement a common extension is to 127.2% or 138.2%. If the 138.2% extension is hit we will...

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You can see the clear rising wedge pattern that is forming here within the two red trend lines that follows a significant down trend. This type of set up generally tends to hold a bias in favor of the preceding trend which of course is bearish in this case. So, on a break-out of this pattern we can expect to see support levels broken and potentially new lows for...

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This will obviously be more of a longer term trade being that the set up is on the daily chart and is actually best seen on the weekly chart, but with that being said I think this set up holds a lot of potential. The GBPUSD pair seems to be forming a textbook definition of an ascending wedge with the lower trend line of the wedge having a stronger slope than the...

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Taking note of the overwhelming harmonic traders looking to get long on the hourly with this pair I've included a scenario of an upside break-out of this classic symmetrical triangle that has formed, though I am inclined to believe the break-out will be a move to lower lows. A symmetrical triangle pattern tends to hold a bias to the preceding trend and in such...

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We are seeing quite the textbook falling wedge pattern here. As selling pressure exhausts we can expect to see a rally from the bulls. The optimal entry will be on a break of the trend line, with stops placed below the lowest low of the wedge. Expect to see a rally up to around the 1.56500 level, with a break above the 1.57000 we can look for secondary targets.

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Potential Buy and Sell zones on the EURGBP to look out for this upcoming week.

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Marked by the blue arrow, we expect to see a small retracement in price to roughly the top of the support/resistance zone marked by the two red lines. If the retracement fails to break below this support zone we expect to see a decent rally to the previous level of support now turned resistance (also a 61.8 retracement of the A-B leg of the AB=CD pattern that...

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This pair has been consolidating above the level of resistance marked in red around 133.500, forming a very nice and clear head and shoulders pattern. I have shorted this pair about 2 hours ago around 134.500 after getting confirmation that the patter has been formed. Initial target of the support level at 133.500 with secondary targets set at resistance now...

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If this trade takes it will present a very nice risk reward ratio... As shown on the chart there are two likely scenarios. One of which would be the pair finding resistance at its current level of 118.060 and selling off to previous support. The other would be a small additional rally all the way to the top of the resistance zone of around 118.500 where the sell...

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With the formation of a bullish gartley, I am inclined to believe this pair will go long. There are multiple target possibilities so I will leave the profit taking up to you. Regardless of your chosen target level there is a nice risk reward ratio.

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Marked by the red lines on the chart, are the key relevant levels of demand. Where, as you can see, nearly every key level of demand is a rally of buyers pushing price up. When these levels are broken, however, price will likely fall to the next key level of demand before it reverses from the buying support or it breaks through again and continues downward....

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The price action of the nzdusd has been forming an ascending triangle, which is known to be an indication of a possible uptrend on a bullish breakout of the ascending triangle. However, the shape of the ascending triangle has failed with price action breaking below the previous higher low.

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Analysis on chart

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Trend continuation downward to the 100/161.8 level of extension level

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As you can see the potential continuation of this nzdusd up trend with a bounce off the 78.6% fib. Please disregard my previous analysis and follow only this one.

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There looks like there can be a potential chance for this down trend to continue to new lows. What do you all think?

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PLEASE DISREGARD! MISPLACED FIB! CLICK THE RELATED IDEAS TO SEE THE UPDATED ANALYSIS!

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I have entered into a long position with this pair once it broke above 1.53443 and intend on viewing this trade as some what of a longer term investment. As all previous levels of resistance have been broken along with a major trend line, I see upside potential to at least the short term resistance level of 1.55288. At this time I will close my position and...