Minor pullback was formed I think the pair will faller further down to the 1.20000-1.20500 area before starting its uptrend.
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Small short on EURUSD as it gets closer to support level where we will be watching for a reversal to go long. ****RISK-MANAGEMENT IS KEY****
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Due to the heavy impact of corona virus on the UK we will be looking for a new low and will be looking for the key level of 0.89000 to be broken .
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This currency pair is in a daily corrective structure which i'm expecting to break to the downside. The market is currently at the 61.8 Fibonacci retracement line of the impulse leg. I'm expecting a breakout, followed by a sell set-up which will give us a trade to the downside and if that happens I'm expecting the trendline to act as a support.
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There is an opportunity to short the EUR|USD on entry into the 1.09273
- Short entries may be initiated on touch of 1.09273
- Stop Losses should be above the swing high of corrective 1.09705 (Red Horizontal)
- Target Point A: 1.08373 (Green Horizontal)
All remaining target and intermediary support zones to the downside are marked below entry by consecutive...
There is an opportunity to short the GBP|SGD on the touch of the pendant channel resistance..
- Short entries may be initiated now or on touch.
- Stop Losses should be above the last swing high of 1.76094 (Red Horizontal)
- Target Point A (Safe): 1.75318 (Green Horizontal)
All remaining target and intermediary support zones to the downside are marked below entry...
There is an opportunity to short the EUR|USD on the break of the rising trendline supporting the contraction.
- Short entries should be initiated below 1.08094
- Stop Losses should be above the last swing of the corrective higher high 1.08288
- Target Point A: 1.07847 followed by Target Point B: 1.07729
All remaining target supports are marked bellow 1.07729 by...
There is an opportunity to go short on the EUR/USD at the current break of the head and shoulders neckline. TP on chart.
Support zones marked on the chart with horizontal lines. Cover positions at these level.
USDJPY has just managed to withstand the DXY upside quite substantially and looks like it could continue to fall from this point. 106 was the original target, however I think 105.500 would be more suited due to the location of the fibonacci support zone.