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EURGBP Running Out of Time to Stop an 850 Pip Reversal
A few weekends ago I mentioned that I like to have at least one long-term play on my watch list. And the price action on the EURGBP since July of last year certainly fits the bill. As you can see from the weekly chart below, the Euro cross has carved out what appears to be a head and shoulders pattern. The formation is even more evident when you drill down to the daily time frame. But I wanted to keep this commentary directed toward the weekly chart to include a significant trend line. The level in question extends from the November 2015 low and intersects with the 0.8330 neckline creating a confluence of support. ... (full story)
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- Feb 13, 2017 6:35pm Feb 13, 2017 6:35pm
- lasty
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- Feb 13, 2017 8:51pm Feb 13, 2017 8:51pm
- tvm1000
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Strategy: Short term trading on 1 MIN charts.
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- Feb 13, 2017 9:53pm Feb 13, 2017 9:53pm
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