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The EURUSD encountered selling pressure this week right where I thought it might. On Sunday I pointed out how the February 21 session closed below 1.2330, which meant the area was likely to attract sellers on retests.Another level I mentioned on Sunday was the short-term trend line that extends from the January 18 low. I suspected this area would attract buying pressure on a retest this week.However, yesterday’s session closed below the level without much hesitation. It did find some intraday su…
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USD/CHF: wave analysis
The pair is in a correction, the price can grow.On the 4-hour chart, the development of downward trend within the first wave 1 of (3) of the higher level has ended. Now the formation of the upward correction as a wave 2 of (3), within which the wave a of 2 is developing, has begun. If the assumption is correct, the pair will grow to the levels of 0.9509–0.9612. The level of 0.9187 is critical for this scenario.