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EUR/USD turns bullish with ROUNDED BOTTOM






As seen in the above chart EUR/USD turns bullish after a long bearish trend from May 2014 high 1.3993 till March 2015 low (1.0462). This follows with a sharp rally (move up) and created it's lower high at August 2015 (1.1712)  the currency made some bearish move which created higher low at November 2015 (1.0514) this brought the currency to another rally (move up) creating a lower high at May 2016 (1.1615)  the currency fell for the rest of the year and form a strong support at January 2017 low as a result of the strong support zone the currency rallied heavily and broke above it's previous high (May 2016 1.1615).

ROUNDED BOTTOM  was spoted as price broke above May 2016 high (1.1615). As seen in the above chart breakout was accomplined with high increase in volume confirming the ROUNDED BOTOTOM as bullish.

After some sort of bearish re-tracement, the currency may rise up to 88.2% tergeting 1.2891 area.

Happy trading!!!!!!!

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About Chiejine Victor

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chiejine victor
Ojo, Lagos, Nigeria
Chiejine Victor founder of Financial Career Fx is a young full time forex trader (TREND ANALYST) He studies the market in daily basis. He set to define that Technical analysis is more important, an art form and less on science. The fundamental of victor’s approach to Technical analysis illustrate the existence of an inefficient market model (PRIMARY TREND)!!!!!!!!!!

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