EURGBP probably moves in a ranging channel as stated on the chart. I expect to move further in the range.
With the rally last week, it seemed as if indices would rally to ATHs especially off the support TL that was hit on Wednesday. However, a seemingly intermediate-term bottom on EUR/USD means a falling dollar should send money out of the US markets and into Europe. I feel like this downtrend channel will hold and we're in for a decline leading into May. However, I...
Look To Go Short with the confirmation of a bearish candle Look To Enter Short In The 135.100's Stops At 135.350 would love to get your guys outlook on this possible setup!
A poorly constructed head and shoulders is also present on this bearish chart. Stop loss - Just above 0.236 fib - confluent with resistance Entry - Close below 0.382 fib and yellow rectangle Take profit - Bottom of green rectangle (immediate support) Over 1:3 Risk Reward on this trade.
We might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box...