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We have two video's for you today - 1st our daily Forex Trading report
Please click here for our Youtube Forex Daily report - 1 October and second the 3rd part of our Forex Candles enplination Please click here for our Youtube Forex Candles part 3 Regards Chris |
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EUR/USD
Weekly Trend direction: Bullish Weekly trend reversal level: 1.3734 Key G7 support levels: 1.3950, 1.3870, 1.3830/00 Counter-trend and scalping opportunities: 1.4050 Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal. Today's trade suggestion(Ist Nov): Another “flip flop” week, stuck in the range between 1.4100 and 1.3700. The weekly chart is just about bulling, but the doji candle suggests we could go either way this week, just like the past two. Key support levels are listed above. Key resistance levels lie at 1.4000 (the 786 Fib) and 1.4080 (the range top) We will consider trading in either direction this week, as long as we remain below 1.4100. Look for opportunities to buy and sell after a clear G7 reversal signal. Don’t be tempted to pick a direction and commit to it, being especially careful to stick to stops! Update 3 November: Back up to the top of the range and trading inside a newly formed hourly channel (see chart) Frankly this is getting boring, so be prepared for a big move when traders become complacent. We are short from the 1.4050 area (range top, 786 Fib and channel top) after a G7 signal, and we’ll have to see how it plays out. Be alert for opportunities in either direction. Summary: Continue to trade the range: Look to sell into rallies to 1.4000 or 1.4080, or buy into dips to supports between 1.3950 and 1.3830. |
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EUR/USD
Weekly Trend direction: Bearish Weekly trend reversal level: 1.4085 Key G7 resistance levels: 1.3780/1.3800, 1.3840, 1.3930 Counter-trend and scalping opportunities: Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal. Today's trade suggestion: The euro’s fortunes have reversed quite dramatically, and we have a very bearish pattern on all chart time frames. We’ll look to sell the euro into resistance levels after pullbacks. This is not a good time to be picking bottoms and trading counter-trend. There are very few clear support levels below us and we have just broken below major range support. Summary: Sell rallies to resistance levels listed above after a G7 entry signal. |
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Sure pickings for the bull! Don't be left behind. You've got to see it, to believe it.
Subscribed HERE |
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Sure pickings for the bull! Don't be left behind. You've got to see it, to believe it.
Subscribed HERE |
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