"Don't fear a bubble until it starts to burst."
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Weekly Forex Forecast (February 1 – 5, 2016)
EURUSD caved last week after once again testing channel resistance that extends off the December 2015 high at 1.1058. A closer look at the 4-hour chart shows a bearish pin bar that formed following a retest of the key level, a trade that several of our members were able to capitalize on. From here, things become fairly straightforward. A close below the trend line that extends off of the January low would expose the 1.0710 handle followed by channel support near 1.0640. Alternatively, a close above six-week channel resistance would open the door for a move to the aforementioned 1.1058. That said, the bigger picture ... (full story)
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- Feb 1, 2016 7:20am Feb 1, 2016 7:20am
- meanvel
- | Joined Aug 2014 | Status: Member | 71 Comments
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- Feb 1, 2016 10:26am Feb 1, 2016 10:26am
- Sid1
- | Joined Apr 2015 | Status: Member | 6 Comments
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- Feb 1, 2016 1:31pm Feb 1, 2016 1:31pm
- meanvel
- | Joined Aug 2014 | Status: Member | 71 Comments
"Don't fear a bubble until it starts to burst."