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EUR/USD Analysis
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[QUOTE="Traders-Live, post: 15465, member: 5842"] EUR/USD Weekly Trend direction: Bearish Weekly trend reversal level: 1.4085 Key G7 resistance levels: 1.3580, 1.3620/50, 1.3710, 1.3760/80 Counter-trend and scalping opportunities: Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal. Today’s trade suggestion: The euro’s fortunes have reversed quite dramatically, and we have a very bearish pattern on all chart time frames. We’ll look to sell the euro into resistance levels after pullbacks. This is not a good time to be picking bottoms and trading counter-trend. There are very few clear support levels below us and we have just broken below major range support. [B]Update 17 November: General dollar strength has sent currencies crashing lower as expected, and the euro has major support at 1.3450. We continue to look to sell into rallies, with resistance levels overhead starting at 1.3580 (previous support and the 38% Fibonacci of the latest swing.[/B] Summary: Sell rallies to resistance levels listed above after a G7 entry signal. [/QUOTE]
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