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by David V, March 19, 2021

EUR/USD W1

by David Vance March 19, 2021

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EUR/USD

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Any

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W1

Timeframe:

W1

Analysis:

I have seen a few post about EU going long which I also have placed for along than is still open. however I am looking for more confirmation to others opinions and what you see as well. I have posted a chart of the weekly that shows the last up trend is touching the top trend line on the major downtrend from the past. I have also attached below the daily, 4hr, and 1hr charts. I am wanting to know if you think EU is still a long term up trend or if it is just retracing off that supply zone from the other swing high. I believe that if it breaks through that trend line with a strong bullish candle that I will be getting in for a long term buy! however if the recent market correction does not break then I will wait for the retest. what is everyones opinions?

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  1. Hi David!
    This pair could easily go both ways, there are arguments for going both long and short. With that, plan what to do in case it goes in a certain direction and a trade plan for that.
    Good luck!

    1. Thank you i definetely agree. I have had a buy in since last week that I took 90% of the profits from already and left a runner of .01 with SL moved into profit just to see what would happen I am open to both direction of course but waiting to see what will happen. Looking at the news this week is going to be a strong week for EURUSD either direction

  2. I should also mention that I do realize my chart looks insane with all of the lines I just wanted to break it down for myself from a monthly view down to the 1 hour to see if I could determine the long term outcome vs just a week or two. We can never have a guaranteed answer as to what is to come however I am trying to use every tool I can to help make the best decision as we all do.

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