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Category Archives for Free Forex Trade Setups

GBPJPY Carves New Support Level on Its Way to 148.00

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GBPJPY feature image

On February 5th, I wrote about a GBPJPY bullish breakout.

The pair was breaking out from a multi-year trend line that hinted at a move toward 148.00, followed by the 150.00 region.

As you can see, GBPJPY was breaking out from a trend line that extends from mid 2016.

If we use the larger wedge pattern that’s formed since 2007, we get a possible (longer term) target between 150.00 and 155.00.

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(Video) Weekly Market Forecast for EURUSD, GBPUSD, AUDUSD, XAUUSD, ETHUSD (February 15 – 19, 2021)

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Market forecast 2.12.21

The EURUSD confirmed what appears to be a false break this week.

I mentioned last weekend how the close below 1.2000 could be a false break given the strong uptrend since last year.

Sure enough, EURUSD closed back above 1.2000 this week.

Then, on Friday, the euro tested a key trend line from the May 2020 low.

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VETUSD About to Go on a Parabolic Run?

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VETUSD is on an absolute tear this week.

There’s no way to say that without sounding overly bullish.

So far this week, the cryptocurrency is up an impressive 43%.

While that’s no doubt impressive, it shouldn’t be surprising to frequent readers of this site.

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EURUSD Looks Ready to Continue Higher

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EURUSD feature image for 2.9.21

The EURUSD is trying to confirm something I mentioned last weekend.

I commented that the recent close below 1.2000 could be a false break in the most recent market forecast.

Last week, I told members that there was an excellent chance any break below 1.2000 would prove to be false.

Why did I think a false break was likely?

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AUDUSD Bull Flag Is One to Watch

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AUDUSD feature image 2.8.21

The AUDUSD looks ready to break higher this week.

Will it?

Nobody knows, but as I mentioned over the weekend, the bull flag that has developed since early January has bullish implications.

We saw the Australian dollar bounce from channel support last week.

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