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NON-FARM PAYROLLS

Waiting for non-farm payrolls to be released. The numbers are expected to be positive for the dollar. Generally, looking for a SHORT in the EUR/USD since it already hit a key target above 1.20 this week.
USD/ZAR and USD/JPY are a bit difficult to pin down at the moment. Technicals have a bearish bias, but with ADP numbers good earlier this week, a bullish move is very likely.
Most likely, will wait for a better risk/reward ratio trade next week and not enter a trade today.
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Despite negative US data all around on Friday, there was an oppurtinity for a LONG in USDZAR today. Although, not the strongest of trades in terms of technicals we entered the trade in mid-European session with a profit target at 13.06. Short-term support at 12.93.

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EURUSD Stops Fighting

On the Daily chart we see that the pair is on an upward channel. However, it fell below the 50% Fibo level (below 1.07) at the end of March. Next major support is at 1.06 and if it breaks it then even 1.038 could be in sight.
We could expect a move at 1.06 and below after the FED minutes on Wednesday 5 April or on Friday of the same week after US payrolls news.
The weekly chart offers further confidence in the analysis of the daily chart as it confirms the same levels with just a 30-pip differ…
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The pair struggled all week between 1.069 and 1.065, with continued buying interest even after FED minutes on Wednesday. The next day the pair was knocked down though, based on Draghi comments mentioning no changes to the ECB policy. After dropping below strong 1.0630 support for a few minutes, the EUR/USD spiked back up to new resistance of 1.0660 after Friday lower-than-expected NFPS. Nevertheless, selling interest at that level brought the pair back down below the earlier lows within the hour. In all, the bearish forecast is still looking good with some reservations.

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A Trump boost to the EUR/USD at 1.0670 late Wednesday still looks like the pair is only correcting before at least trying for  the previous lows at around 1.04. Nevertheless, with the ECB on the horizon, everything is possible.

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ECB Conference Benefited the EUR Pairs

Managed to make a couple of positive trades in the EUR/USD pair today taking advantage ofthe momentum caused by the ECB conference.
Additionally, a quick trade with a 3.45 position in the EUR/AUD gave a relatively easy profit as the pair benefited from the ECB conference and didn't seem troubled at the time at the better than expected US GDP news.
Finally, took two longer-term positions, one on GBP/JPY since the pair seems to be in acorrection, setting the profit target at a Fibonacci level an…
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geula4x 31 déc

+1 Liked: Nice trade based on the fundamental ECB news! Happy trading in 2014! :-)

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300 Pips Gain for EUR/USD

As seen in the weekly chart the EUR/USD has broken a long-term channel and it'sheading toward the 50% Fibonacci level at 1.41327 .
This view is supported by the monthly chart, where we can see the pair in a shorter term channel with the price heading up towards the previous monthly high at the 61.8% Fibonacci level at 1.38346. The channel isexpected to be broken and the pair to move up 300 pips from the previous high.
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Started the week with a 1.3740 high, but the pair seems to be waiting for something to burst further up. There's still lots of confidence in the prediction despite the struggling at, first the 1.36 level and now at 1.37, since the frenetic buying of the pair on Friday's trade despite the good news for the dollar (and of course the support of the charts where there's no change). Next level for the pair to struggle to pass 1.38.

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TheAnalyst 13 déc

As expected the pair struggled to break through 1.38 this week and failed. The correction was small and the pair didn't even manage to reach 1.37, closing at around 1.3750. 1.39 doesn't seem far in the horizon and is a very possible target for December as is 1.40 and even though the predicted 1.4130 level seems too far away at this point the longer-term charts still support this view. Next week, the pair is expected to have another go at the 1.38 a level and an actual break this time. Finally, a correction below 1.37 would be a first sign of a possible weakening of the pair's strong uptrend.

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TheAnalyst 16 déc

As predicted, the pair started off the week with testing the 1.38 on Monday and although it failed to break through the buyers did not let the price to fall below 1.37. The pair seems to be returning to 1.375 after any effort toward either 1.37 or 1.38. This gives an added sign that the pair will break the 1.38 level this week and possibly explode after that.

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TheAnalyst 27 déc

The pair reached 1.39 today, but the selling after that was strong. The correction is predicted to reach the 1.3695 price point at best and then continue up. With 2 and a half trading days remaining the 1.40 level seems more feasible, but with one of those being holiday thin-trading days the 1.4113 level being reached wouldn't be much of a surprise either. A bigger correction at this point wouldn't signal a change in course, meaning the pair would reach the price levels mentioned above at a later date and probably even higher. A move below 1.35 on the other hand would signal a short position.

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geula4x 31 déc

+1 Liked: Thanks for sharing this detailed trade! happy trading :-)

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