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Is EUR/JPY a good long bet?

dragon1 Posted 4 Apr  in #Trader's blog #EUR/JPY #Rally #Correction #Long #Break Out
My answer to the title question is a resounding YES! Let me count the ways.
1. After more than one month's good work, it climbed 600 pips to 128.00. The path has been direct and simple with a perfect trend line. Currently it is having a correction but rebounding right from the same trend line.
2. The V-shaped bottom area ABC (see chart below) constitutes a very solid support to withstand the current tumultuous market, and sustain a steady rally.
3. With a little imagination, once the current reb…
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VALTRAD avatar
VALTRAD 4 Apr

Может ещё одну ручку нарисовать. Я тоже смотрю вверх по паре.

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EURo looks bullish

dragon1 Posted 1 Apr  in #Trader's blog #Euro #Breakout #Bullish #Rally
Ahh, another beginning. I am refreshed!
To prepare for the month, let's first take a look at Euro with a slightly longer term view. Euro
has been advancing fiercely for some time. Just a short time ago it penetrated previous high.
Currently it lies in line with a few heads in the past. Trend is firmly bullish! Most likely it
will break out to a new high, thus pave the way for a more sustained rally. I am prepared for it!
The weekly chart below illustrate the current state, and some resistance le…
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The Siege of Leningrad

dragon1 Updated 14 Mar  in #Trader's blog #Rally #Correction #Siege
The siege of Leningrad lasted almost two and one-half years and cost the lives of an estimated 1,000,000 city residents. Hunger and cold became the city's greatest enemies. But int he end, the Red Army had pushed the German army beyond Leningrad allowing the city to celebrate the end of its siege. This is what I imagined for the situation I got myself into! Ha ha ...
The week started well with my Euro-related family of cross pairs. With excitement I dived right in and took up long positions of E…
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dragon1 15 Mar

Bank of Japan will announce its interest rate decision soon. How would it affect my EUR/JPY and GBP/JPY? Although they do not look pretty now, but it is still hopeful, as they have not completely broken technically. EUR/JPY shows upward tendency, but GBP/JPY is having local break down because of the weak GBP. Keep my fingers crossed!

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