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Expectations

This week is more tranquil comparing with the previous one. I expect that high bearish sentiment together with high CFTC volumes will lead to a consolidation of EUR/USD, GBP/USD. The first reversal signal should be shown on MACD h1, ADX h1, h4, then on Ichimoku h1. Though the opening and monday trading average rate can be lower then Friday's close price.
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Overview

GBP/USD and EUR/USD rebounded on Friday as was expected. Fundamental information was mixed - the unemployment rate and participation rate decreased and increased, respectively, which is good for USD, but nonfarm payrolls were lower than expected, which can be perceived as a slowing US growth momentum. Long term trend indicators show a strong bearish movement, which is supported by overall fundamental environment. However, in short term GBP/USD and EUR/USD can be oversold. At the moment short ter…
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Day X - EURUSD, GBPUSD

Ok, old story by Mr. Draghi. Expected movement on south. I do not trade on major fundamental event days in live accounts, but probably I should start in this contest - you can't boost the performance by not trading. As I wrote on Monday, I still see the downside movement as limited due to high bearish sentiment. Thus, will wait for confirmation of reversal points. MACD h1, ADX h1-h4 can do the job.
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