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We've seen today why I suggest to plot EMA120 and why I say that when we have signals that are more than 20 pips away from EMA50 the trades are riskier.
EURUSD has topped at EMA120.
USDCHF has bottomed at EMA120.
GBPUSD has done it much better because it broke pivot and EMA120 at the same time and it has topped at Fibo R1. That's why I bought it when I saw it breaking pivot and EMA120 with strength.
Do these mean that EURUSD and GBPUSD are going to its lows? No, these do not mean that. Cable can go alone, but EURUSD will not go up if USDCHF can not break pivot and EMA120 with strength.
As you all know, all of us are looking at 1,2780 on EURUSD. This is the last support. If it breaks it, it could give nice pips or it could be just another trap.
This is the game. EURUSD could not close (hourly) above 1,2942 and we are down again. Let's see, if it is the case, what happens if it breaks 1,2780.
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