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EUR/USD: V.Short-Term Trend Unclear But Biased To Down-Side

Published 05/05/2015, 07:26 AM
Updated 07/07/2019, 08:10 AM


The very short-term trend on the 4-hr chart has reversed and turned bearish.


It has broken below a trend-line and formed two lower lows and two lower highs.


It will probably continue down towards the next support level situated in a zone between support and resistance at 1.1034 and the monthly pivot at 1.1002.


If the exchange rate reaches this level, there is a strong possibility it will pause to consolidate and possible resume the broader up-trend.


Given the confused analysis of the four lengths of trend, the fact they are out of sync, and the lack of space before support emerges at 1.1034, I would not at this time advocate trading in the direction of the v.short-term trend.
EUR/USD 4 Hourly Chart

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