I've just gone LONG on this pair for the following reasons.
We've hit WS1 support pivot level and price is now moving away from it.
RSI on H1 was under 30 and now its reading 35.45.
MACD is still lagging behind but the BEARS strength has reduced significantly.
The Andean Oscillator was at zero and has now move away from zero with a reading of .00008.
Price has hit a recent Pivot Point SuperTrend BUY line.
My STOP on this trade is at .8537 which is a minimal 8 pips - this is a hard STOP and will not be adjusted.
Target initially is the WPP mid pivot at .8559 (+14) but if we reach that level and the BULLS are still in control, then I'll adjust the T.P. higher.
We've hit WS1 support pivot level and price is now moving away from it.
RSI on H1 was under 30 and now its reading 35.45.
MACD is still lagging behind but the BEARS strength has reduced significantly.
The Andean Oscillator was at zero and has now move away from zero with a reading of .00008.
Price has hit a recent Pivot Point SuperTrend BUY line.
My STOP on this trade is at .8537 which is a minimal 8 pips - this is a hard STOP and will not be adjusted.
Target initially is the WPP mid pivot at .8559 (+14) but if we reach that level and the BULLS are still in control, then I'll adjust the T.P. higher.
Trade closed: stop reached:
That was short and not so sweet. Can't find any reason why EUR has crashed asgainst GBP - GBP doesn't seem to be under any pressure across the board.
EUR/GBP still selling off.
8 pip loss - no biggie.
News now.
US Unemployment Claims - black print (met target) - no signoficant market moves.
15m before ECB Conference - fireworks possible.
EUR/GBP still selling off.
8 pip loss - no biggie.
News now.
US Unemployment Claims - black print (met target) - no signoficant market moves.
15m before ECB Conference - fireworks possible.