EURGBP (2nd Look): Major Support Still Established and Unbroken
At first, I was a seller and removed my buy position in this trade; however, at the end of the day, major support is still in although there was a trendline break. There is only a 40% to 60% probability that the trend will change. That's no good for me.
And as per my chart, the next level of resistance is 0.8815 and 0.9269. This is where I am looking to book some profits.
Also, today's news for the UK, according to my predictions should come out negative; hopefully, shocking the markets.
My rationale: The data of the Brexit is just starting to come into the market. I don't see employers highering people away after the Brexit. Employment must has had a hit.
So, long for now, until we hit the resistance of my other view. My the catalyst be with these trades! Heavily focused on the market, so may not update targets and stops.....
And as per my chart, the next level of resistance is 0.8815 and 0.9269. This is where I am looking to book some profits.
Also, today's news for the UK, according to my predictions should come out negative; hopefully, shocking the markets.
My rationale: The data of the Brexit is just starting to come into the market. I don't see employers highering people away after the Brexit. Employment must has had a hit.
So, long for now, until we hit the resistance of my other view. My the catalyst be with these trades! Heavily focused on the market, so may not update targets and stops.....
Comment:
People clinging to their jobs or need to wait to see what the herds of people do for another month. Like I said before, data coming out of the UK has been tough these weeks. Ripsaw here and whipsaw there..all to resistance and support levels.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
