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Yesterday I posted that Eur made a triple break on last week's close. Since then, Eur has dropped about 100pips. I believe there is more downside to come. Below is the original post.
About 10 days ago, I posted a message of Eur forming a 3 crows candlestick pattern. I have been shorting Eur a couple of days before that. I kept adding more Eur short last week when I saw the triple break of this troublesome currency.
In the chart, we can see that Eur broke three very important technical indicators. It not only broke down the 50 day MA, it also broke the upward trend line formed since early July, and more importantly it broke down the head and shoulder pattern. Three crows plus a triple break is all I need. I am expecting a TNT magnitude of downward momentum. Those hungry hedge funds have pull the trigger and the slaughter just have begun. |
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