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EURUSD DAILY NOV 28 2022 @12:09 AM EST

The EURUSD momentum is down by virtue of the down close on the daily chart on Friday and confirmed by higher volume test of the daily support level directly below. Additional downside momentum is suggested by virtue of the gap down on open today.

However, the trend is still up and confirmed by the 10 period average above the 20 period average while price is currently above but testing the 10 period average. A daily close below the 10 period would also be a close below current daily support and should signal a further down move down to the 20 period average and daily swing low of 1.0240 which would be the target for any potential short trades

No long trades should be considered unless price rises and closes above Friday’s high.

My current bias is to the downside but that won’t be confirmed until the daily close today. If the 10 period average and daily support are not broken at the end of the day do nothing. On a daily close below the mentioned support levels you can then drop down to your 4 or 1 hour and take bearish signals.

Of course we may have some changes in momentum by the end of day so my suggestion is to wait for a daily signal to enter on an intraday signal…

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4TH update DAYTRADING UPDATE EURUSD Wednesday @ 1 35 PM EST

( SMART MONEY SIGNAL CONFIRMATION )