Hello Dear Traders!
We have noticed, that in present times, a lot of arguments and views on the currency pairs EURUSD&GBPUSD, but no one takes into account, the Elliotte Waves markup of EURGBP in terms of additional option. Although it is also a powerful tool and indicator of moods in the intermarket calculation of 6E&6B. (John Murphy) We want to dispel all the...
Here on FX:EURGBP we have a very nice structure based formation. At first look at the beautiful round number of structure level @0.7300 which is tested for several times recently. Besides we have a nice wedge which indicates that price should go down. our reversal zone is between the edge of the pattern and the structure resistance levels.
A bullish butterfly is almost completed with D point at a key zone. More particular 1.27 of XA leg is at medium term support trendline, at the bottom of a channel where wave 4 has been formed and at the end of wave e, the last leg of the correction.
Like & Comment :)
We have the perfect harmonic moves on FX:EURGBP
Price is moving between the channel and making harmonic moves, which means we are in a 3-drives pattern market.
As we see we have the perfect fibs 61.8 and 1.272 confluences at the edges of channel and it is the best time so sell.
The first target is the next support, where price might consolidate. The second...
Learn 2 trade like a pro FOR FREE boafx.com - We expecting positive data and hawkish tones from the BoE today with a possibility of the MPC vote coming in at 2-0-7 as the BoE already said they would not let the chinese market effect their decisin on monetary policy. Pressure is on the ECB to extend and increase the QE program which should weaken the Euro currency further
