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A quick move expected on Home Depot Inc. as it starts approaching a support line of a Triangle

Home Depot Inc. is heading towards the support line of a Triangle and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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We expect a $130 movement on AUDUSD within 12 hours following the event release at 01 Aug 14:00.

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Be very careful of upcoming volatility. We expect a $250 movement on GBPUSD.

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