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Here's my technical viewpoint on the EURUSD market this week. The EURUSD market is still in sideways operation. On the weekly time frame, presently price action predominantly operates in the 1.12660/1.15700 zone. The upper-tailed bullish candlestick printed last week indicated that bears were restraining momentum to the upside and we may see them maintain the pressure in the early part of this week. We are likely to see bears push price action southward, at least briefly in the early part of this week, and then give way to further sideways operation
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My analysis are still not in sync with whats happening in EURUSD.
Anyways, I have a pending buy at 1.1408 for today to add to my longs. I am in 20 pips minus at the moment, with a hedged position. If I can get a break even, I will be out until I can find a clear direction. So far in my opinion 1.1550 - 1.1650 zone I will sell and !.1350 - 1.1450 zone, I will buy.
This week I will only target scalping.
Good luck ya all
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keeping aside the brexit matter , pa remain simple as as before no any changes till brexit next days or so at / arounds 1.1570/1629/1741. limited time left and so optimal 1629+ while pa may be same as correct 1.1500 to correct 1.1400 - to continue bull try for brexit levels.lets play in comfort without much spikes , should have been habituated by this time.
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The eur/usd is forming a sideways triangle on 15m. A close below 1.468 would signal a breakout to the downside. On the other hand, a close above 1.1478 would signal an upward breakout.
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Downward breakout occurring. I`m short from 1.1467. TP 1.1454. Tight stop at 1.1473.
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Closed manually at 1.1455, though there may well be more downside. The EU production data came in below expectations.
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Yaa, true. Forex cannot be predicted, but I said probabilities.
I am having a lot of free time these days and am now trying to formulate if I could find higher probability of gap openings on higher time frames.
The rule of probability vests with outcome. There could be three outcomes. No gap, gap upside, gap downside. Right now I am focusing on weekly and daily possibilities.
I am trying to validate Bulkowski's Opening Gap Trading Setup on higher time frames and to add to it my own knowledge and experiences.
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BE with my trades this year and out on sidelines for EURZONE currencies. NOT going to trade EUR or GBP for a while.
My pending orders for today :
USD CAD sell limit 1 standard: 1.3317, SL 20 pips, TP open till end of day. If not fulfilled, cancel order at end of day.
AUD USD buy limit 1 standard: 0.7193, SL 20 pips, TP open till end of day. If not fulfilled, cancel order at end of day.
Have a green pip day all.
Out of here to my game shop.
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May be limited tumble with brexit, PA reached minimum brexit tanking level 1 only, not trying to correct up /bull. Anyway 1.1476/69 limit down to get the 1.15oo handle at least and play pending here from previous top to 1414/1300 perhaps. It may react differently from gbpusd around the news shock and after shock. Take every care
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1. Brexit day today.............
2. Draghi must answer if any new measures because the failure of the EU economy expected expansion.
...Not to mention important US data and The Trump's Show and Co.
Very hard to trade technicals in this fundamental explosive environment.
Maybe just set a classical stoch and scalp few pips in the waiting range... until the fireworks!
Good luck, all!