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EURUSD intended to get bullish last week, but couldn’t hold above our key technical resistance. I expect 1.1475 act as support after the break-out. however I still remain bullish on EURUSD, and I think it’s making a bottom. For the next week , if I see this pair to hold above 1.1450 or even 1.1400, I wouldn’t surprise. Any kind of news from EUR central bank would show the direction, I expect that happen around March. Until then side-way trading between 1.1300 to 1.1750 is possible. If you are a fan of EURUSD pair , you should satisfied with small profits.
I’m a little bit curious about GBP pairs. They are in a really heavy down trend for years. At these prices I rather be a buyer than a seller. As you may know, we have an important news on Tuesday, I already teach you how I trade around the news , If you forgot it please read the lessons again. If I want to trade this pair at this moment, I will wait until the news comes out and then decide to enter or not. You are not playing poker and it’s not a game. My experience tells me whatever the news is, GBPUSD will break the channel resistance and make its own bottom. If it occurred, I would wait until it touch the channel ceiling again and if act as a good support I will enter my longs. other wise don’t risk my money and trade another pair.
As we discuss this pair last week, I mentioned to see a side-way trading at this levels, and here we go. USDJPY is going to trade between 107.30 and 110.30 these days. I rather like to short this pair again if it fails to break 110.37 resistance. It’s a saying in the market ” Even a dead cat bounce when it drops from a high” , if you consider US strong economy as a dead cat. so we can expect this pair to bounce a little bit more higher.
Trading this during last two weeks made me and my investors a great profit, As I always paying attention to the fake Break-outs. For now I’m away from trading this pair again for a while, this is my way to avoid over-trading, and trade for quiet a long time as a profitable manager. side-way trading between 1.3177 and 1.3360 is highly recommended, even another touch of channel resistance would make another opportunity to go short again.
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