This has broken the channel and reached the support level. I expect this to correct before making another attempt at breaking the support level at 125.80. Take profit is at -0.272 Fib.
EUR/GBP is in a range, it has just reached the bottom of the range so is a good opportunity to go long from here with a SL just below the support level this is quite safe. Long term I think the GBP will be stronger so I am not sure whether this will reach the top of the range again, with this in mind keep an eye on this breaking the support level.
The anticipated break below 126.50 is approaching strong support at congestion around 126.00.
Intraday studies are mixed, suggesting short-term consolidation around here, before falling daily stochastics and the negative Tension Indicator prompt a break towards critical support at the 125.71 weekly low of 16 December. A further close beneath here will confirm a...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.222). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Good morning traders ! 👋🏾☀️
Here we have a chance to scalp 70 pips on this ragging channel.
We are really relying on the NZD fall, we might adjust the TAKE PROFIT and hold it for longer, as theres is a chance of RESISTANCE (A) acting as support.💪🏾
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Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.6016).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7224). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
The anticipated break below 0.8950 is approaching 0.8900, where oversold intraday studies could prompt fresh consolidation.
However, daily stochastics and the Tension Indicator continue to track lower, highlighting potential for further FX:EURGBP losses in the coming sessions towards critical support at the 0.8861/66 lows from September-November.
A close beneath...
Steady FX:EURUSD losses have reached the 1.2129 weekly low of 21 December, where unwinding oversold intraday studies are prompting short-term consolidation.
A minor corrective bounce is possible, but negative daily stochastics and the falling Tension Indicator should keep gains capped below congestion around 1.2200
Following consolidation, expectations are for...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.2285). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (126.75). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
Price has returned to the support level of the ascending channel. Previously, the price has rejected at this support line and turned bullish towards resistance.
currently, the price is touching on the 200 day EMA. If price holds at the 200 EMA and the bulls come into play, I believe we could see some bullish momentum for GBP/EUR towards the 1.270 level (an area...
