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300Eur instead of 450Eur
USD Index- new leg up?
Usd Index found a clear bottom on 92 zone and the first leg up followed that drove the index to 93.50-94.00 resistance zone .
Now the index corrected some of this first up-leg and, in my opinion, more gains will follow for USD.
I remain bullish as long as the price stays above 92.50 zone and I will look for short opportunities in GbpUsd , AudUsd , NzdUsd and EurUsd.
For 2 months now, EurUsd is trading in an already familiar range between 1.1750 and 1.1900 (if you don’t count the 2 spikes above resistance) and, as I said before, 1.2 is a medium-term top in my opinion.
Rallies towards 1.19 should be sold and a good entry for this range trading can have a 1:2.5 R:R
GbpUsd’s correction is still in play with the price creating an ascending channel that can be viewed as a flag.
A spike above 1.3 is very probable for this pair and I will consider this a good opportunity to sell between 1.3050 and 1.31.
UsdJpy- ready for correction?
After breaking the 106.00-106.50 consolidation to the downside, USDJPY has continued its descend and dropped also under 105 important support.
Now the pair is trading exactly in 104.30 support and a correction and confirmation of 105 as new resistance is not out of the question.
Keep in mind that the trend is clearly down and a buy trade should be on short term with a tight stop loss.