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on 6 Jan:
EUR / USD
This pair made a potential double top on the weekly 1.37 resistence ie the breakout failed two times in a row . This double top can guide us much more below current price if medium-term turn descending, but its too early to better conclusions about his validity also about the target, I must go one step at a time.
For now, it seems that the medium-term uptrend ended after the daily double top, if so price will breakdown the TL and in principle will go at least to the support zone 1.34-1.33, if so must see what happens there.
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Price reacted to the TL which is normal. For now I'm holding the short position, must see if this move is just a test of the previous swing low or the TL in fact continues leading the trend. This is an important control level.
on 6 Jan:
EUR / USD
This pair made a potential double top on the weekly 1.37 resistence ie the breakout failed two times in a row . This double top can guide us much more below current price if medium-term turn descending, but its too early to better conclusions about his validity also about the target, I must go one step at a time.
For now, it seems that the medium-term uptrend ended after the daily double top, if so price will breakdown the TL and in principle will go at least to the support zone 1.34-1.33, if so must see what happens there.
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Price reacted to the TL which is normal. For now I'm holding the short position, must see if this move is just a test of the previous swing low or the TL in fact continues leading the trend. This is an important control level.
