Hello everyone :)
After a couple month of taking pause of trading, because december was very volatile, because of whole BREXIT deal, waiting for approval of EU to new vaccine, US stimulans and etc. From fundimental side in Germany we can see a little bit decrease of infected and this can be a optimism for Euro but in Europe is started to spread a new variant of coronavirus called B.1.1.7, but there are some good news. Germany saw a big decrease of infected of COVID-19 and Germany is engine of whole EURO currency so that can a steam against Pound. It is proved that Pfizer and Moderna vaccine is effective against it. UK are in most "hard core" lockdown or phase 3 where is everything is locked till the first circle of vaccination is over and that will be over when they vaccination the most endangered group, that are people which is older than 65. On Friday we saw a big decrease of GDP at UK, a little bit decrease in manufacturing and I think that will make GBP the weakest currency on the market in this week. From tehnical point of view, we can see a little HH and HL which we can assume that maybe trend is changing. There is divergence whis is making LL and at chart is forming HH,HL and for someone who likes to trade a divergence it can be a good signal for buy ofc we need to wait a confirmation candle. There is a descending channel and at we can see a price rebounding from it, that can be a confirmation that channel is very strong. For entry to trade I have a couple of ideas. First is after breaking a resistance line to enter at trade, if you are a aggresive trader, second one wait HL and our new support when price breaks through currently resistance at price of 0.89111 approximatle( it depends on your trading strategy). The last one is watching of our resistance line and descending channel and if break our channel that can be a confirmation that price will move to our TP which is at price of 0.89877.
P.S Today at 11:00 CET is German ZEW Economic Sentiment (Jan) which is forecast a increase than previous month, this news can give a EURO steam to go up so watch is closely
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
After a couple month of taking pause of trading, because december was very volatile, because of whole BREXIT deal, waiting for approval of EU to new vaccine, US stimulans and etc. From fundimental side in Germany we can see a little bit decrease of infected and this can be a optimism for Euro but in Europe is started to spread a new variant of coronavirus called B.1.1.7, but there are some good news. Germany saw a big decrease of infected of COVID-19 and Germany is engine of whole EURO currency so that can a steam against Pound. It is proved that Pfizer and Moderna vaccine is effective against it. UK are in most "hard core" lockdown or phase 3 where is everything is locked till the first circle of vaccination is over and that will be over when they vaccination the most endangered group, that are people which is older than 65. On Friday we saw a big decrease of GDP at UK, a little bit decrease in manufacturing and I think that will make GBP the weakest currency on the market in this week. From tehnical point of view, we can see a little HH and HL which we can assume that maybe trend is changing. There is divergence whis is making LL and at chart is forming HH,HL and for someone who likes to trade a divergence it can be a good signal for buy ofc we need to wait a confirmation candle. There is a descending channel and at we can see a price rebounding from it, that can be a confirmation that channel is very strong. For entry to trade I have a couple of ideas. First is after breaking a resistance line to enter at trade, if you are a aggresive trader, second one wait HL and our new support when price breaks through currently resistance at price of 0.89111 approximatle( it depends on your trading strategy). The last one is watching of our resistance line and descending channel and if break our channel that can be a confirmation that price will move to our TP which is at price of 0.89877.
P.S Today at 11:00 CET is German ZEW Economic Sentiment (Jan) which is forecast a increase than previous month, this news can give a EURO steam to go up so watch is closely
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.