SHORT EUR/GBP on expectation of a weak German IFO print

FX:EURGBP   Euro / British Pound
32 0
The area around .8670 has been an area of historical resistance from March 2013. With RSI oversold conditions falling on H4 and H1 time frames and a doji reversal on H4, from a technical standpoint a SHORT here represents excekllent risk/reward.

Friday saw a raft of generally disappointing Eurozone PMI's and should the latest German IFO business sentiment survey disappoint (due 09:00 GMT Monday) the pressure will grow on the ECB to return to an explicit easing bias before year end.

Thursday sees the latest German Unemployment Change and a miss here will bring further pressure to bear on the EUR.

We are SHORT this market from .8663 with a STOP at .8680 for a tight 17 pips.

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out