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Countertrend

EURUSD Bullish ForecastThis pair was analyzed with multi timeframe analysis and zooming out on EU, it looks quite bullish and I am forecasting further upside. Yes, I understand that we are at (and potentially rejected off) a critical resistance level but we are also in a corrective structure projecting a bigger move to the upside. While looking at DXY, we have the exact opposite, where we have a Bearish Structure currently consolidating for further downside. Some confluences to support this idea: Inverted Head & Shoulders pattern formed Counter-trend of Daily Bearish Structure with Break & Retest Daily Bullish Wick that should normally be filled Previous COT data shows an increase in longs. New data will need to be reviewed when released. Potential formation of weekly ICI pattern Potential formation of new Daily Bullish Structure The first step in order to validate this idea, will require a clean break above the resistance zone around 1.22. Let me know your thoughts. Trade Safe! HEET ps. I generally post alot of updates as the idea/trade evolves. If you want to stay updated, please click the "Follow this idea" button.
Long
by AfterlifeTrading
2
USDJPY - Support and ResistanceAs mentioned a few months back that USDJPY will hit a few bumpers along the way and 1 of it is at 106.01(chart at bottom) I've engaged in an aggressive short and that is an attribute to candlestick formation, a doji on the resistance level way before the actual movement. Once the price come in contact with the trendline, I will shift stops to entry and the candlestick close will be my main deciding point if I will intervene and exit the trade.
Short
by RaynLim