Euro / U.S. DollarUpdated EURUSD Trade Idea
In the previous analysis, I expected the market to respect the channel formation and reject off the bottom range of the channel, which was exactly what the market performed. However, EU had a strong rejection off previous daily high (1.2309), closing the day with a bearish pin-bar. Currently, i am noticing the short-term EU weakness as it failed create new high again. Will be looking for potential short opportunities if price rejects off 1.2272 minor resistance zone or a violation of the channel formation with 1.2178 zone as the initial target. Be aware that price could once again re-test the 1.2309 high for the third rejection.
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Note
Previous analysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.