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Technical analysis by AMEGA - Opinion

Medium-term trend: Bearish
After the price is fixed below the control resistance zone №1 1.27751-1.27599 the medium-term trend has changed to the bear market with the aim to the target zone 1.26231-1.25927. The probability of reaching the target zone is about 70%. Any price growth is considered like corrective. The best prices to try to have a short position are the control resistance zone №2 1.28252-1.28100. In case of the price is fixed upper the control resistance zone №2 the medium-term trend will be changed to the bull market and all short positions should be closed.
Trading recommendation:
It’s recommended to try to have a short position near the control resistance zone №2 1.28252-1.28100 (167 points from current minimum) with using the pattern «Head&Shoulders» at least on M15.
The control resistance zone №2 is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.
All zones are constructed on the basis of data from the CME futures market.
Target zone:
Internal border – Maintenance margin size in points
External border – Initial margin in points
Control resistance zone – the half from the target zone
Resistance zone – the quarter of the target zone
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It’s recommended to try to have a long position near the control resistance zone 1.32392-1.32287 (111 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.