daily chart of eurusd showing the descending channel mentioned in the previous monthly post (see attached). 1.0465/1.0510 will be an immediate hurdle while 1.0665 should cap near term upside.
Very short term the pair is likely to drift towards 1.03 projections. In the event of a break below 1.03 EURUSD will face an extended correction towards multiyear down slowing channel limit at 1.0180 and most importantly the psychological level we are all looking at 1.00
Based mostly on Market Profile and Price Action (daily charts) the strongest levels for short swings are 1.0710 and 1.0765. Heavy volumes were traded between those levels (accumulation) followed by strong rejection of higher prices resulting into renewed sell-off. I think that the sellers will be active there again.
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here:
YoDaud
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Hello Banker, I have put a sell po at 1.085. In your opinion is it too far or should I put higher?
The_Duke
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Creeping back up to our stop loss again mate... nervously hoping (is that a strategy?) that it tops out at 1.04880
dead2live
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Well, would you look at that: It capped right where you said it would. Happy New Year dude! Only fortunes for you, bruh.
i sended u a pm.U visiting for nothing the bullshit i published.Is garbage like your "Top Authors" garbage.What i trading is a bit different.Check the PM.