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Is this a good idea to long EU? well, not yet. here's why...

EU has found temporary support at 1.07855 and what we've now is looks like a double bottom, but we'll have to look at the resistance right above it. In order to go long, we'll need to wait for a clear breakout of the channel first. EU has been in a downtrend for long, it would be surprising to see this downtrend continues without any correction. let's see.

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Multiple tries to break out the resistance has ended with a failure. the most likely direction from here will be further downside.

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We're now trading outside the channel, but momentum is weak. setting buy stop at 1.0870

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^ that should've read. setting buy stop at 1.08170

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Glad that I got busy and failed to place that buy stop the other day. EU isn't looking bullish at all.

Every attempt to breakout is failing badly. I'm out looking at EU for now.

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AF2019