EURGBP - Will The EUR Stay As Top Dog?
Analysis:
Comment:
Whilst we don't have all of the confluence factors pointing in our favour, the most important ones that we may most attention to are. The EUR looks stronger then the GBP currently as this is what the statistics tell us, which is why we are bullish on this pair.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
- Breakout of downwards trend (bullish confluence factor)
- Break and retest of previous resistance (bullish confluence factor)
- Fib "golden zone" level (bullish confluence factor)
- Break and retest of downwards trendline (bullish confluence factor)
- EUR strongest major currency (bullish confluence factor)
- GBP 2nd strongest major currency (bearish confluence factor)
- 40K long position increase for the EUR (bullish confluence factor)
- 24K long position increase for the GBP (bearish confluence factor)
- 18K short position increase for the GBP (bullish confluence factor)
Comment:
Whilst we don't have all of the confluence factors pointing in our favour, the most important ones that we may most attention to are. The EUR looks stronger then the GBP currently as this is what the statistics tell us, which is why we are bullish on this pair.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
With our entry requirements being met and our order being filled we're now long on this pair looking for the EUR to push higher now that we've broken out of this downwards trend.
Trade closed: stop reached:
Trade Closed
(-1R) Lost
After Trade Comments:
This trade started off going into drawdown until early today when we saw price try to make a move to the upside, however the EUR news that came out today didn't look too strong and we ultimately saw the GBP strength over power the EUR and price went to the downside. Overall we didn't do anything wrong as this trade was fully to plan so lets not dwell on the losses and instead let move on and focus on the next setup. We've already had two wins this week so we're still in profit which is the main thing.
Stay Safe - The JPI Team
(-1R) Lost
After Trade Comments:
This trade started off going into drawdown until early today when we saw price try to make a move to the upside, however the EUR news that came out today didn't look too strong and we ultimately saw the GBP strength over power the EUR and price went to the downside. Overall we didn't do anything wrong as this trade was fully to plan so lets not dwell on the losses and instead let move on and focus on the next setup. We've already had two wins this week so we're still in profit which is the main thing.
Stay Safe - The JPI Team