CapitalMarketJournal
Long

EUR/USD TOWARD 1.12 WITH SOME CAVEAT

SAXO:EURUSD   Euro / U.S. Dollar
THE EUR/USD CURRENCIES PAIR HAS MOVED HIGHER ON USDOLLAR WEAKNESS,
BUT ALSO ON TECHNICAL PATTERNS AS A DOBLE BOTTOM AROUND EUR/USD 1.08 SUPPORT,
A TENKAN LINE PRICE SUPPORT AFTER A 200DAYS MOVING AVERAGE REJECTION. THAT HAS BEEN CLEARED OFF INTRADAY
WITH EUR/USD 1.1055 BREAKING THROUGH RESISTANCE.
HOWEVER, BIG CAVEAT THE EUR/USD PAIR ALWAYS HAS MOVED BELOW THE 200 DAYS MOVING AVERAGE , THEREFORE IT'S POSSIBLE TO TAKE
A MODEST LONG POSITION WITH EUR/USD 1.12 TARGET A MORE AMBITIOUS TARGET EUR/USD 1.14.
PERFECTLY POSSIBLE TO SEE0 A REJECTION NEAR AND AROUND THE ICHIMOKU SENKOU A/B NUAGE IN COMING DAYS, IF THE 200DAYS MOVING AVERAGE VARIABLE
COMES INTO THE EQUATION.
Comment: ALREADY INTRADAY EUR/USD 1.1060 FLUSH REJECTION

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