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EURUSD consolidate already 5-weeks at 1.12.

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    mlawson71
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  • mlawson71
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    Just a reminder that the NFP data will come out any minute now and there will likely be a lot of volatility when it does.

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  • mlawson71
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  • mlawson71
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    It's finally forming some correction, but it's unlikely this is the end of the bearish trend.

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  • mlawson71
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  • mlawson71
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    This pair seems unstoppable, it depreciated to 1.1510 before bouncing off from it for a temporary correction.

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  • mlawson71
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  • mlawson71
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    The pair has almost reached 1.1600, I think we'll see the breakout below that level soon.

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  • mlawson71
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  • mlawson71
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    The pair is so bearish that it may break out below 1.1600 next week.

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  • mlawson71
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  • mlawson71
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    It's still testing 1.1700, let's see whether there will be a retracement before another depreciation.

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  • salih07
    Junior Member

  • salih07
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    EURUSD could not find a clear direction already 5-weeks. The process of consolidation continues at levels of 1.12. It is waiting for a key event that would move the market into new direction.
    The consolidation process may continue next week with slightly movements within the trading range of 1.1110 and 1.1290. The events that are important for the last week of June are U.S. Durable orders on Monday and GDP report on Thursday.
    World-Signals.com trading strategy during the week is trading within the trading range. We will use the support and resistance levels to open long and short positions. If the trading breaks below the support level we are ready for short positions. The chances for short positions forex below the support level are lower than break above the resistance level.
    this down trend still continue

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  • mlawson71
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  • mlawson71
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    Originally posted by amri.rudi View Post
    New support at 1.1715...but maybe this down trend still continue..
    It probably will, we may just see some correction first.

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  • amri.rudi
    Member

  • amri.rudi
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    New support at 1.1715...but maybe this down trend still continue..

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  • mlawson71
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  • mlawson71
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    The pair rebounded from 1.1775 but there will likely be a new move to the downside once the correction ends.

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  • mlawson71
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  • mlawson71
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    It's still testing the support at 1.1760 and I think there will probably be a breakout eventually.

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  • mlawson71
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  • mlawson71
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    So much about a rally, the pair is as bearish as ever and it may drop below 1.1760.

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  • mlawson71
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  • mlawson71
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    Either way, short positions don't seem to be a good idea right now, the pair may climb above 1.2000.

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  • mlawson71
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  • mlawson71
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    Originally posted by Chri View Post
    great am happy to hear this
    Do you have short positions?

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  • Chri
    Junior Member

  • Chri
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    great am happy to hear this

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