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pro4Xtrader

High Probability Forecasts

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There was no strong support confirming the end of the EURJPY downtrend. Currently we can see the bounce of the fib level that could be the key area for downtrend continuation. If that’s the case a huge move down in a very short time is something very realistic.

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CADJPY did break below the rising channel that could be a confirmation of a long term downtrend. I think this scenario has the right to live and could be developing over the coming months. Besides, if you look at all JPY pairs, they all have some sort of signals of a downtrend… well for me at least.

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Looks like CADJPY making higher highs and higher lows. At the same time it failed to break uptrend trendline (from current attempt) and cycles pointing to the next coming swing... potentially up to the previous strong resistance are at 103.75

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While GBPCAD broke above downtrend trendline, furhter rise should follow. But perhaps its not the best time to enter long trade since it is still in rage trading mode where move downt to double top first is quite likely.

35k4sv4.png

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USOIL is in a strong uptrend that does not seem to be over yet. I’d expect a final swing up to 64 area. If it breaks above further extensions up might follow, if holds, correction should take place.

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