I'm in this trade as of couple of weeks ago and it is along the lines of the other GBP pair analysis that I have posted here. This carry through momentum of both GBP strength and relative JPY weakness across the board is definitely flowing through to this pair. Again as long as the Green trend-line holds, I remain bullish with a potential target of around 2.1500
Monthly - Bullish engulfing off monthly support. weekly -pinbar/reversal candle. showing exhaustion Daily - broke 8ema shooting star formation off support. 4HR -bounced off 50% fib level. awaiting price to break and close over CTL 1st target on break of this CTL 0.76200 2nd target 0.7700
Taking a recent swing low and swing high, the risk reward tool can measure potential profit to risk when stopped out and give the reward to risk ratio. Moving the mouse over the shaded area, here we see we can potentially make 375% while risking only 32.14% or in other words the ratio is 11.67, which is excellent. Any time one can use this tool to find a trade...
EUR/USD - Most probabilities? Red or Blue? Facebook: www.facebook.com Twitte: twitter.com