Good day, dear reader!
Commentary on the current situation:
The currency pair felt a surge of interest in the euro and the structural weakness of the pound. However, we believe that this difference in investor preferences will be more pronounced next week.
After the past week, the currency pair has not changed much since both the pound and the euro were greatly resold. Both currencies had to make a correction, which we warned our readers about earlier.
However, the pairs formed rather mixed patterns, the euro shows bullish - trend, pound - bearish.
Results of the past week: an increase of 23 points or 0.23%.
Technical analysis:
H1 (Technical) -H4 (indicative)
We see the formation of a new uptrend, which has a smaller growth angle, but this can change, as the lower border constantly attracts buyers.
The pair’s attempt to break through the resistance at 0.8991 was unsuccessful, but analyzing all the time frames, we can say that the price will try to get to this mark again.
= ≥ The conclusion from the technical analysis is that while the pair is above the level of 0.8900, the bullish trend continues.
Indicative analysis provides the following information:
Lack of oversold assets on 1-hour and 4-hour time frames (located in the neutral zone).
The price behavior indicator demonstrates that the price has returned to normal in relation to its average 4-day trend (neutral zone).
Price behavior scenarios:
A) The most likely, we consider the pair to rise to 0.9000, and if it consolidates above, to 0.9089.
B) An alternative scenario - the currency pair will begin consolidation and close below 0.8900, in this case, the trend will change and we will see a correction to 0.8870, 0.8850.
Global Variables:
• Volatility (ATR): Weekly = 65 points // Monthly = 83 points // Quarterly = 80 points.
• Trends (SMA): Continuation of the uptrend, 55 - day average is below 100 - day, and 100 - day, in turn, rises above 200 - day.
• Range Ratio: 108 points (Drop from 236 points).
Recommendations:
We recommend purchases with a short stop at 0.8908, however, the position will be fixed if the up-trend is completed.
More details on our facebook.
Regards to subscribers,
Wermelgion & Partners Invest.
Profitability of WMCI Asset Management Fund + 14.43% for May;
Profitability of HMS Royal Oak + 14.53% for May;
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Commentary on the current situation:
The currency pair felt a surge of interest in the euro and the structural weakness of the pound. However, we believe that this difference in investor preferences will be more pronounced next week.
After the past week, the currency pair has not changed much since both the pound and the euro were greatly resold. Both currencies had to make a correction, which we warned our readers about earlier.
However, the pairs formed rather mixed patterns, the euro shows bullish - trend, pound - bearish.
Results of the past week: an increase of 23 points or 0.23%.
Technical analysis:
H1 (Technical) -H4 (indicative)
We see the formation of a new uptrend, which has a smaller growth angle, but this can change, as the lower border constantly attracts buyers.
The pair’s attempt to break through the resistance at 0.8991 was unsuccessful, but analyzing all the time frames, we can say that the price will try to get to this mark again.
= ≥ The conclusion from the technical analysis is that while the pair is above the level of 0.8900, the bullish trend continues.
Indicative analysis provides the following information:
Lack of oversold assets on 1-hour and 4-hour time frames (located in the neutral zone).
The price behavior indicator demonstrates that the price has returned to normal in relation to its average 4-day trend (neutral zone).
Price behavior scenarios:
A) The most likely, we consider the pair to rise to 0.9000, and if it consolidates above, to 0.9089.
B) An alternative scenario - the currency pair will begin consolidation and close below 0.8900, in this case, the trend will change and we will see a correction to 0.8870, 0.8850.
Global Variables:
• Volatility (ATR): Weekly = 65 points // Monthly = 83 points // Quarterly = 80 points.
• Trends (SMA): Continuation of the uptrend, 55 - day average is below 100 - day, and 100 - day, in turn, rises above 200 - day.
• Range Ratio: 108 points (Drop from 236 points).
Recommendations:
We recommend purchases with a short stop at 0.8908, however, the position will be fixed if the up-trend is completed.
More details on our facebook.
Regards to subscribers,
Wermelgion & Partners Invest.
Profitability of WMCI Asset Management Fund + 14.43% for May;
Profitability of HMS Royal Oak + 14.53% for May;
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
