SETUP - DXI backs this setup. After a two week accumulation at the bottom, close to the year low, we sill probably see EU come up soon, and strong.
Commento
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Deeper retracement but my view is still bullish
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Thank you Mr Market. May I have a small reversal now?
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Finished the week at the projected high. Retracement to come
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Might do a deep retracement now, will update chart
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Trader_Dale
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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:
TAS_is_Goliath_Capital_Growth
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@Trader_Dale, Thanks. That high will bring it back into the 2015-2016 channel. May be a retest or a reentry. Fundamentals will help to decide
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: