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    EUR/USD: question marks over short-term up-trend

       
    The EUR/USD pair has been pulling-back after rising up in a steady mini-up-trend, clearly visible on the 4-hour chart.

    The pull-back is accompanied by bearish signs from indicators, including a rare bearish triple divergence with MACD and a divergence with OBV – which combined is in itself a bearish strategy sell signal.

    I would, therefore, reduce the size of any bullish positions, although there is still some hope the pair could start rising back higher again, due to support from an old trend-line which is currently preventing further loses and the peak and trough market structure which remains bullish.

    There is still a possibility of the pair reaching my previous target at the R1 monthly pivot at 1.1486, and this remains the next probable arrival point at the moment.
    EURUSD15

       
    The EUR/USD pair has been pulling-back after rising up in a steady mini-up-trend, clearly visible on the 4-hour chart.

    The pull-back is accompanied by bearish signs from indicators, including a rare bearish triple divergence with MACD and a divergence with OBV – which combined is in itself a bearish strategy sell signal.

    I would, therefore, reduce the size of any bullish positions, although there is still some hope the pair could start rising back higher again, due to support from an old trend-line which is currently preventing further loses and the peak and trough market structure which remains bullish.

    There is still a possibility of the pair reaching my previous target at the R1 monthly pivot at 1.1486, and this remains the next probable arrival point at the moment.
    EURUSD15


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