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The EUR / USD pair will try to test strategic levels during the current week and the next, which will allow us, dear colleagues, to get a profit. However, remember that before testing the "profit levels", the European currency may "go" to the support zone formed by the accumulation of a large amount of open interest and volume on option contracts.
"Everyone chooses their own path. And the more obvious the goal, the easier the path"
Good morning, dear colleagues.
With you, as always, Sergey Denisov and the forecast for the likely movement of the EUR / USD currency instrument.
Let me reminded you that this forecast is a derivative of the main long-term forecast for EUR / USD
This serves to ensure that we are with you every day, step by step, moving towards our "cherished goal" - towards profit!
In the trading session on Tuesday, January 28, 2020, the EUR / USD trading instrument seems to be going exactly according to the long-term forecast. However, the 10th figure (1.1000) was not within the sellers' power, and the price went for a correction of 30p to the level of 1.1028. From there, I hope again that it successfully "starts" down.
The strongest support zone is still within the 1.0940-1.0960 levels, due to the option contracts with a large open interest and volume. Option contracts are often used to hedge currency risks associated with the purchase of futures contracts. In our particular case, the support zone 1.0940-1.0960 is formed by PUT options, which implies the desire of "smart people" to enter BUY in this zone by buying futures contracts.
It seems difficult? No! In future articles, every day, we will touch on this topic, and later, if you, dear colleagues, have a desire to get answers to your questions about my forecasts, I will be very happy to hold a webinar for you!
The goals for BUY remains the same at 1.1080, 1.105, and 1.1155, as they are due to the presence of strategic levels - levels that the price fulfills in 80% of cases. I can also conduct a webinar about this!
Dear colleagues, please follow the publication of "derivative" forecasts for EUR/USD during the entire period of relevance of the main long-term forecast, so as not to miss anything important and eventually get a profit!
IMPORTANT! Remember that you should enter the market only using patterns – graphic figures that are often repeated on the market, where as a result of their formation, there is a certain pattern of price behavior in the future.
In my trading, I use patterns consisting of candlestick analysis and volume analysis. One of my favorite patterns is updating the local highs on a sharply rising volume with subsequent testing up to 50%-61.8% Fibo.
Thank you for your attention, dear friends.
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