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on Tuesday last week, I noted the extremely bearish technical picture, so I thought that the price should be able to continue to move down easily.
I saw a potential short trade opportunity from pullbacks that then revert into the trend but was watching out for a bullish reversal at or below parity. This was a good call at least insofar as my warning about a potential bullish reversal from the parity level, although the price did break below $1.0000 later in the week.
The technical picture is now much less bearish as we are seeing a bullish over and under pattern with Friday’s low near the support at $1.0000. However, bulls are now facing very strong resistance at $1.0121This level at $1.0121 looks attractive for a short trade entryif the price gets down to parity again, there seems to be strong buying at and below $1.0000, so that could be an interesting level for a long tradeIf the price gets established above $1.
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