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EURUSD: Multi Time Frame Analysis & Important Breakout (forecast)



hey traders,


EURUSD reached a strong zone of confluence yesterday.

price hit a perfect match of a resistance line of a falling channel and horizontal resistance based on the last higher low on a daily.


after testing that area, the price broke below a support line of a rising wedge pattern on 4H.

moreover, the price has violated a neckline of a head and shoulders formation on hourly chart.


we see many many bearish signals and now the price is slightly recovering.


the expanding area between a neckline and broken support of the wedge will be a perfect zone for us to short the pair.


target levels:

1.169

1.165

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