The euro is smack at the edge of a decent size resistance area centered around 1.36 from a LT MP perspective. The LT trend is down. This is either a PB to this resistance area to be followed by a resumption of trend. or a change in the LT trend to UP. The entry range is from 1.34 to 1.36 for a short, stop out between 1.36 to 1.38. The risk at this point is that you don’t get short and miss out on the move down. I wouldn’t even consider a long unless we went to 1.38 and then PB’d to around the 1.30 area, I am in at 1.34 and I will get another at 1.36 if we get there. I am confident that this resistance will hold and the bigger trend will simply continue and possibly go to new lows.
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Nihil inimicus quam sibi ipse Marcus Tullius Cicero
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