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CADJPY SHORTIF YOU LOOK AT THE TREND-LINES I HAVE DRAWN INTO THE CHART, YOU WILL REALIZE THAT THIS PAIR HAD BEEN TRADING WITHIN A CHANNEL FOR A WHILE AND FINALLY THAT CHANNEL WAS BROKEN. I AM NOW WATCHING TO SEE IF THIS MOVE UPWARDS WILL CONFIRM THE BREAKOUT BY GIVING US A RETEST AND THEN FORMING ANOTHER BEARISH LEG. CONFIRMATION AND POTENTIAL SETUP REQUIREMENTS: 1. STRONG BEARISH CANDLE TOUCHING (JUST BELOW) THE TREND-LINE THAT IS NOW ACTING AS RESISTANCE 2. SELL STOP BELOW THAT CANDLE 3. TIGHT STOP ABOVE THE FIRST REQUIRED BEARISH CANDLE
by billionare_mo
EURUSD ECB Signal Strategy: The 30min ChallengeThe market was largely affected by Italy's proposed budget for 2019 although little activity was noted in EURUSD. Italy has decided not to alter its budget in its reply to the EU, however, in an event further selling in global indices take place Italy will be forced to modify the budget. EURUSD reached its resistance in the 30min chart. A firm break above (preferrably a 30min close) may pave the way for stronger gains. Likewise, a bearish breakout below the support may suggest further weakness is in store. This is a classic breakout strategy ahead of the ECB monetary policy press conference.
Short
by DDMARKETS