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EURUSD Bearish Black Swan And Trend Line Breakout

EURUSD Bearish Black Swan And Trend Line Breakout

Our short trade based on Bearish Black Swan Harmonic pattern reached the first target level and generated 55 pips so far.

As I have mentioned in the setup and live interactive charts, the price must break the trendline in order to continue its bearish move.

Fundamentally there are no reasons to buy EURUSD. That’s why we use every pullback as a selling opportunity.

Technical Overview of the Pair:

1.11080 s the key support level for the intraday traders. – Trendline confluence SMA 100 H4 – MM 4/8 H4 –

Downwards breakout and H1 Closing below 1.11080 would send the price 1.10930, 1.10770 and 1.10626.

Upside is capped by SMA200 Daily at 1.11900. A strong fundamental reason is needed to break this resistance.

Pullbacks towards 1.11600 can be used as a selling opportunity.

A few words about Gold: As I updated in live interactive charts, I prefer buying XAUEUR instead of XAUUSD. I will update our XAUUSD live charts.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD Bearish Black Swan Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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