Short Traders Profit
Finally, we saw the long-awaited correction from overbought levels in both EUR/USD and GBP/USD.
The cable broke below 1.2550 and slid almost 100 pips toward 1.2450. The price area around 1.2550 could now serve as a resistance while we expect a deeper dive towards 1.2410. Bears will pay attention to a significant break below 1.2380 that could send the pair tumbling toward 1.20.
The euro tested the support area between 1.0650 and 1.06. If 1.06 breaks significantly to the downside, we could see the euro settling at lower levels between 1.06 and 1.0450. Euro bulls on the other side will watch out for a renewed break above 1.0760.
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EUR/USD
Long @ 1.0685
Short @ 1.0640
GBP/USD
Long @ 1.2525
Short @ 1.2440
Monthly results 2022:
May 2022: +172 pips
April 2022: +111 pips
March 2022: +689 pips
February 2022: +531 pips
January 2022: +766 pips
Results 2021:
December 2021: +61 pips
November 2021: +452 pips
October 2021: +165 pips
September 2021: +578 pips
August 2021: +135 pips
July 2021: +34 pips
June 2021: +264 pips
May 2021: +528 pips
April 2021: +278 pips
March 2021: +45 pips
February 2021: +42 pips
January 2021: +472 pips
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