EURUSD
Aktualisiert
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Price did move close tothe X region and make a strong bearish move as were expected.
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After last week bullish rebound from the a strong support level, it is now pausing just below the channel support.Anmerkung
A triangle has been formed bellow this support that may suggest the fate of the pair, which might be the bullish breakout (which I think has a low possibility), a bearish reversal to retest the support it has rebounded from or a range.
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The triangle has been broken bullishly followed by the resistance level and price is heading toward the channel resistance level as shown bellow.
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Looks like price is forming a double top pattern around the strong resistance level, which might lead to a retracement into the rectangle.Anmerkung
Price has breached the blue resistance level and the channel resistance, although is forming what looks like an exhaustion candle. I will keep an eye for confirmation of a breakout or reversal into the channel.
LESSONS LEARNT:
Always don't judge a move before it gives enough clues, this is because I was contemplating of selling the market in the previous analysis with expectation that it were going to form a double top pattern and later complete what could have been a head and shoulder or something, but it seems the market has deffied all that.
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