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Daily Price Trend Euro Support . . .

     Don't Follow Too Closely With Stops! Wait For a Lower Entry.

    The Euro is backing down a little, buy on pull-backs only, . . .

The steep angle of the gains means we can expect a good pull--back over the next few days.

By George R. Harrison

The latest surge in up-swinging EURO prices is likely to take brief pause for at least a few days and pull back down in price a bit

There's presently a strong price support at the 1.1050 level which should hold as long as the latest price trend momentum is in place.

Should prices break below 1.1050, then, price trend can be expected to go lower for a week or more.


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SPOT ON: GBP/JPY Predicted Drop

gbpjpy4The price top which was expected on Friday did occur and the drop in prices predicted took play right out of the gate with Sunday’s trading session.

Sunday’s slide of over 100 pips (as of this posting) certainly qualified as a good short-term & high profit-potential move.

This is meant only as an update to the previous post so that visitors can follow-thru on the trading technology offered only on this website. – George

GBP/JPY: Getting Ready for the Next Downswing

 

FOREX TRADERS:

The GBP/JPY: Getting Ready for the Next Downswing

gbp-jpy

Click Chart to Enlarge

The Longer-Term Trend for the GBP/JPY is solidly DOWN now and, this trend will probably hold for many months if not years to come.

These are exactly the type of situations that WD Gann used to write about taking advantage of.

Markets decline much faster than they rise, and so, provide an excellent opportunity for faster and more profitable trades once we get on the right side of the trend at the right moment.

With this firmly in mind, we should then scout out the prime points to establish SELLING positions with the least amount of risk possible.

gbp-jpy2

Click Chart to Enlarge

Timing for the next day or two is the focal point as we’re presently in a rally.

This uptrend, barring any new price momentum, should end by Friday or Sunday.

When it does, it will have to trigger the present price break point of 157.00.

That will be the confirmation signal for the next downswing in prices.

Note, as always that this is purely an educational exercise and not an advisory or solicitation to buy or sell. Read our extensive disclaimers to this effect.

Observe and learn what is possible with the proper educational tools.

Contact me HERE when you’re ready move up and obtain these World-Class, Premium Tools to apply to your own portfolio. – George

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