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Thread: Fbs

  1. #411
    pedagoreng is offline Senior Member
    Join Date
    Aug 2014
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    There's a 'Double Bottom', which has been confirmed, so the market is consolidating. It's likely that the pair is going to test the nearest resistance at 1.3172 - 1.3212 in the coming hours. A pullback from this area could be a starting point for a decline towards the closest support at 1.3055 - 1.3025.


    It seems like there's a 'Pennant' pattern. If so, the market is likely going to achieve the next resistance at 1.3172 - 1.3212 within the next few hours. If a pullback from these levels forms little later on, bears will probably try to reach another support at 1.3102 - 1.3055.

  2. #412
    pedagoreng is offline Senior Member
    Join Date
    Aug 2014
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    396

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    There's a local bullish 'Engulfing', which has been formed at the last local high. So, the market is likely going to test the next resistance at 1.1836, which could be a starting point for a bearish correction.


    The 55 Moving Average has acted as support once again, so we've got a 'Hammer' pattern on this line. In this case, after a short break, bulls are going to deliver a new local high.

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