EUR/USD follow up
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This pair is about to get squeezed similar to what happened to the GBP/JPY. Notice how is is approaching the apex while the consolidative activity continues. It has peaked above the cloud even though the tenken and kijun do not agree with the scenario. Nevertheless, a breakout is forthcoming. Look for the MR2 at 1.3945, which forms a perfect confluence with the bottom of the daily cloud, to contain. The nature of the impending reversal is debatable. It does have its eye on the mid 1.3500's as a minimum downside target.
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This pair is about to get squeezed similar to what happened to the GBP/JPY. Notice how is is approaching the apex while the consolidative activity continues. It has peaked above the cloud even though the tenken and kijun do not agree with the scenario. Nevertheless, a breakout is forthcoming. Look for the MR2 at 1.3945, which forms a perfect confluence with the bottom of the daily cloud, to contain. The nature of the impending reversal is debatable. It does have its eye on the mid 1.3500's as a minimum downside target.