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Technical Analysis
Daily Technical Analysis by Admiral Markets
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[QUOTE="Admiral Markets Group, post: 133824, member: 37217"] EUR/USD Two Breakout Points Outside The Equidistant Channel [ATTACH=full]10226[/ATTACH] The EUR/USD has perfectly rejected from both POCs after the setup and analysis shown on [URL='https://www.youtube.com/watch?v=YyUJrjHrUto']Weekly Recap[/URL] and at this time it is very clear that the equidistant channel is trapping the price keeping the range bound market still in play. After a fake-out that happened yesterday 1.1720-1.1690 (which was still good to trade as a breakout trade, and what I showed during the Live Trading webinar) we can see two POC zones within the equidistant channel that might push or tank the price. If the price spikes above 1.1778 (EMA89, D H3, channel high) the target is 1.1798 and 1.1825. Above 1.1832 we should see a continuation towards 1.1875 and 1.1910. Below 1.1668 (D L5, ATR projection low, channel low), the price could drop to 1.1584. Follow [URL='https://twitter.com/TarantulaFX']@TarantulaFX[/URL] on twitter for latest market updates Connect with [URL='http://www.facebook.com/tarantulafx']Nenad Kerkez T[/URL] on Facebook for latest market updates. W L3 - Weekly Camarilla Pivot (Weekly Interim Support) W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance) W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance) M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance) M L3 – Monthly Camarilla Pivot (Monthly Support) M L4 – Monthly H4 Camarilla (Very Strong Monthly Support) POC - Point Of Confluence (The zone where we expect price to react aka entry zone) [I]Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.[/I] [/QUOTE]
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