Forex Trade Setup – Oct. 13th

EURUSD – Tenkan/Kijun Cross (4hr chart)
After dipping from the double failure at 1.4000, the pair has rebounded nicely without ever piercing the kumo.  Since then, it has formed a strong upward Tenkan/Kijun cross just ahead of resistance which is common for this system.  If it plays out, then it means EU is likely headed for another run up towards the former support area at 1.4200 so there could be plenty of upside to this play.

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