EUR/USD
Updated
follow up to earlier post of shorter time frame on EUR/USD. Still in another rising wedge pattern, sliding down a short term trendline, but now at MA support which has held so far and huge volume support. on the last bullish bar. A hold and move above trendline should force a run to recent high test of 1.25359. A move below MA would probably be a drop to rising trendline and safe spot to take an entry with close stops. But watch larger timeframe, showing some indecision here, cluttered bar pattern and dollar is due for a bounce.
Note
Note each attempt at MA test was met with bearish pressure, short term momentum is down.Note
Moving average must hold here or shorts could be positioned on break with target of 1.24180Note
Breakdown to prior channel support and now upper rising channel has become resistance . watch for breakouts and breakdowns for entries . If dollar wants is putting in cycle low here than it could break mid band support and drop to lower trendline of larger channel. A break of 1.2360 would be aggresive area to go short or 1.2350 with target of lower trenndline and stops at close back above prior support trendline
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