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Pivot: 1.3830
Preference: Short EURUSD at 1.3810, with targets @ 1.3750 & 1.3600 in extension.
Stop Loss: A close above 1.3850
Conviction: Testing previous high at 1.3830, CCI still holding over bought level while RSI is turning on falling trend line. Divergence between the price and RSI as well.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 1.3780 | 1.3750 | 1.3720 | 1.3830 | 1.3850 | 1.3880 |
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The Euro is overbought at theses levels, and fundamentally have nothing to support it at these levels. Price above 1.38 will be limited, so a small drop should be in place 1.37-1.365, but overall the picture is bullish till now
Any thoughts on UsdJpy?
The USDJPY has formed a hammer on the Daily chart against the lower boundary of the descending channel. Expect a test towards 98.00. A break above that level will expose 99.00 and 100.00 to complete the Butterfly Pattern, otherwise a fall towards 96.00 will confirm a break of the triangle which will target 92 on the long term.
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