EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #859 (permalink)

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Manta, Ecuador
 
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Personally I've not been interested in shorting lately.

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1) Failure to make a new low immediately met with new buyers.
2) Stopped at trendline and prior double top, then immediately went through it (no real resistance).
3) Tiny retracement (zero really) shows strong support.
4) Test of prior resistance level met with new buyers again.

Now if I had added a (5) for where we are today, I would need to draw a new set of trendlines for the up channel since January 12th. But basically we are in a very strong up channel and I am not looking to short until that is no longer the case.

The 1.3230's is a wick back from 12/20 but I don't think that is all that important. I would look for a move either up to the 3500's or if we change to bearish, we have to first break below the 3100's.

Mike

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