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we're still expecting a short position

we're still expecting a short position | 20 March 2018

20 March 2018, EUR/USD

we're still expecting a short position

Wave Analysis:

During the previous trading day, we saw an extension of the corrective wave (b) to the upper side but this p[air is still pretty much bearish on the weekly and the monthly charts. We expect the previous upward rally to be a mere extension of the corrective wave (b) to the upper side and may not go beyond 1.2415 which is a key resistance level for selling the impulsive wave (c) with our target at 1.2042. This pair should be traded alongside GBPUSD, EURHKD, NZDUSD and AUDUSD. These pairs will have a similar price action today.

Trade Recommendation:

we're still expecting a short position towards 1.2042

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Bob Stan
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