Overhead trend line resistance coincide with Fibo Retracement Level, expect resistance at 81.20-30, USD/JPY may retrace a little bit, and plunge to new low this evening.
Expect support at 80.30.
EUR/USD
Bull or Bear?
From the week chart, EUR/USD currently resisted at the weekly trend line, if EUR/USD break above 1.4035 high, and close above the yellow line (1.3980), EUR/USD is going to challenge another top 1.4250.
Without breaking above previous high 1.4035, it gives us good opportunity to short EUR/USD. I have shorted 3 times, 1st time I have been triggered 30 pips, 2nd time I squared my position at 7 pips, and 3rd time which is last night, triggered 30 pips.
I regard 1.4035 is a crucial level to watch, many price action has been around this level, I believe the ding-dong will continue to test this top for another 3 rounds today, before a meaningful breakout happen.
The above chart indicates my preferred breakout pattern, and the area which I wanted to short and take profit, hope that this time we can get in, and ride the profit.
Intraday Short 1.4008, SL 30pips, TG 1.3900.
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