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EURUSD – Euro/dollar bounces after pulling back to support
In our recent commentaries, we have been talking about buying the EURUSD on pull backs to support in order to get long and trade in-line with the uptrend. We can see that last week price pulled back to support near 1.0830, providing a good entry opportunity with a good risk reward. Notice that price has since surged aggressively higher with no signs of slowing down. Traders not already long can watch for further pull backs to buy, perhaps down near 1.1020, as we could see price re-test key resistance up near 1.1400 or higher in days and weeks ahead. Check our members trade setups newsletter for further updates on the EURUSD.
Gold – Gold Pulls Back to Support Then Surges Higher
We have been looking to buy Gold on a pull back near 1220.00 – 1200.00 support for weeks now. After a protracted pull back over the last few weeks that ended recently at 1220.00 support, Gold exploded higher today as the bullish momentum continued. Traders not already long can watch for further pull backs to 1240.00 – 1220.00 area to get long, in-line with the uptrend.
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