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$GBPUSD

GBPUSD appears to be rebuilding a bull flag after reacting at the 1.6300 and the R6 resistance. The initial target for the next move down is the 1.6053 area which is the 0.382 fib retracement. When can see consolidation occurred here the last time so expet stalling here as opposed to a strong bounce.  A break of the .382 however, targets the 1.5973 (.500 fibo).  Next upper target is the resistance at 1.6449 which whould be in the sigts in the next day or so.

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$EURUSD

Ready to buy the dip?  Retracement back to the trend line and now ready to try 1.4300 again.  Looks like a ripe opportunity and we should stay bullish on this for now. Break south of the trend line would look to run to the 1.3900 area at least.

 

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$EURUSD – 1.4500?

Is 1.4500 coming soon?  Sure looks like it!  We were saying to watch for that run at the beginning of the week.  What a run up!  Watch for the dips and continue to buy on those.  Keep your eyes on the lower trend wall and watch for breaks south.  Top should be looking for 1.4300 at the moment and breaks south should be reaching for 1.4150 and then 1.4050.

 

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$EURUSD

Pull back to 1.4000 has occurred and the top retested.  Seeing another pull back to the 1.4000 now and will look for a bounce again to try and test the 1.4100.  NFP week may not see a large movement until after Friday AM but watch for todays Fed Fund Rate statement.  Could once again see the attempt at 1.3900.

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$EURUSD – Breakout North?

EURUSD did exactly as we thought and went to the bottom trend line and bounced and has broken out the top now.  We will look for the test of 1.4100 and then a very likely run at 1.4200.  Always watch for the pullback to touch the top of the trend line that has been broken and then the continuation of the move to the upside.  This would mean that the move would pull back to 1.4000 and then take off for 1.4100 and 1.4200.  Should this prove to be a false breakout then we would expect the move to go back to the bottom trend line at 1.3900.

 

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$EURUSD

Reached 1.4012 overnight and then pulled back to 1.3912 so now watch to buy the dip and see the testing of 1.4000 again.  Possible breakout for the run to 1.4100 or higher. Trend-walls have held each time so keep your eyes on that and keep that in mind as you prepare to enter and exit your trades. The pattern continues to be very defined and gives nice support and resistance areas. Trades to the downside would seek 1.3800 area for first support.

 

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$EURUSD – Running Triangle

The running triangle that is forming keeps the moves somewhat predictable.  Notice also the hidden divergence on the MACD.  The previous 2 moves have been .618 retracements and this last one has been at the .786.  Looking for the reversal on this touch point back to the 1.3840-50 range.  Perhaps even to the 1.3800.  Should we push beyond the .786 then will look for the top to be tested again at 1.4000.

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