Forex Signals – EUR/USD Approaching Resistance
4:46a GMT - As predicted the purple trend line (below) was quickly broken and resistance at the upper trend line was only able to hold for a moment, leading to a retest of 1.4000 (which was never reached). Pair is currently consolidating its gains below 1.4000 and I am expecting another surge to the 1.4020-1.4050 range where I will look to fade. Daily and 4-hour charts are neither oversold or overbought, while 60M charts are mildly overbought.
Trading Idea: Looking to fade a rally to the 1.4020-1.4040 range with short targets preferred down to 1.3965, 1.3935, 1.3855 and eventually 1.3800.
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