follow up to earlier post of shorter time frame on EUR/USD. Still in another rising wedge pattern, sliding down a short term trendline, but now at MA support which has held so far and huge volume support. on the last bullish bar. A hold and move above trendline should force a run to recent high test of 1.25359. A move below MA would probably be a drop to rising trendline and safe spot to take an entry with close stops. But watch larger timeframe, showing some indecision here, cluttered bar pattern and dollar is due for a bounce.
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Note each attempt at MA test was met with bearish pressure, short term momentum is down.
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Moving average must hold here or shorts could be positioned on break with target of 1.24180
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Breakdown to prior channel support and now upper rising channel has become resistance . watch for breakouts and breakdowns for entries . If dollar wants is putting in cycle low here than it could break mid band support and drop to lower trendline of larger channel. A break of 1.2360 would be aggresive area to go short or 1.2350 with target of lower trenndline and stops at close back above prior support trendline
