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16 May 2014
EUR/USD presents ST long opportunity - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, is looking for short term long opportunities in the EUR/USD following the US rebound.
Key Quotes
"After forming the large engulfing bar + false break we talked about last week, the Euro has formed a long tailed pin bar today at a key event area (support level). The 4hr charts suggest the rejection has likely recovered the key level, so we'll look for short term longs here."
"Look to get long on a short pullback to the 1.3689/1.3670 support zone, with stops below today's low. Note - we are not using any 'trade entry trick' - just pure price action trading and analysis. Upside targets will be 1.3755 and 1.3890."
Key Quotes
"After forming the large engulfing bar + false break we talked about last week, the Euro has formed a long tailed pin bar today at a key event area (support level). The 4hr charts suggest the rejection has likely recovered the key level, so we'll look for short term longs here."
"Look to get long on a short pullback to the 1.3689/1.3670 support zone, with stops below today's low. Note - we are not using any 'trade entry trick' - just pure price action trading and analysis. Upside targets will be 1.3755 and 1.3890."