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BEAR TRAP ON EUR/USD

The chart below indicate a well difined bear trap spotted on eur/usd (red cycle) which falsely close below 1.1824 zone after four weeks of trading below this zone last week price close above 1.1824 zone which was making reistance (greeen cycle).

The confirmation of last week indicate bear trap and this may see the eur/usd around 1.2047 zone in few weeks or months to come.

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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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