Good day investors and colleagues traders!
Your attention an analytical review: #EURGBP / EURGBP#4
• Theme : Bull make a deal, time to down?
•Technical analysis:
H1 (Technical) -H4 (indicative).
The currency pair has been in the global rising channel since April 30, 2020. This week, the currency pair formed a local upward channel, taking advantage of the rebound from the lower boundary of the global channel.
Support and resistance levels for the current week:
a) Support: 0.9000, 0.8990 and 0.8960;
b) Resistance: 0.9090, 0.9140 and 0.9182;
Indicative analysis provides the following information:
1. The currency pair is in the oversold zone on a 4-hour time frame.
2. The price behavior indicator demonstrates that, the price went beyond the adequate zone and returned in relation to the 4-day trend.
Indicators show hints about a currency pair reversal.
•Trading scenarios:
--- Bullish script (Main).
The currency pair is heading to the upper boundary of the global channel, which is located at 0.9180.
The watershed is the support zone 0.9025-0.9010, in case the pair manages to stay higher, the bulls will attempt to grow.
The risks of this scenario are the overbought currency pair and the absence of growth above 0.9085, and it is growth above that that will be the main driver for opening long positions.
--- Bearish scenario (Secondary).
As long as the currency pair is below 0.9085, bears can lower prices to the lower border of the local channel, and potentially to the lower border of the global channel.
Global Variables:
• Volatility: Weekly = 160 points // Monthly = 161 points // Quarterly = 180 points.
(The inversion of volatility has disappeared);
ATRs show a return to the zone of average, standard values.
• Trends:
SMA (50,100,200) continue to grow - from the beginning of the month.
• Range Ratio: 160 points (Growth from 150 points).
Best regards to followers,
"Wermelgion & Partners"
!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 & Co” 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.
Your attention an analytical review: #EURGBP / EURGBP#4
• Theme : Bull make a deal, time to down?
•Technical analysis:
H1 (Technical) -H4 (indicative).
The currency pair has been in the global rising channel since April 30, 2020. This week, the currency pair formed a local upward channel, taking advantage of the rebound from the lower boundary of the global channel.
Support and resistance levels for the current week:
a) Support: 0.9000, 0.8990 and 0.8960;
b) Resistance: 0.9090, 0.9140 and 0.9182;
Indicative analysis provides the following information:
1. The currency pair is in the oversold zone on a 4-hour time frame.
2. The price behavior indicator demonstrates that, the price went beyond the adequate zone and returned in relation to the 4-day trend.
Indicators show hints about a currency pair reversal.
•Trading scenarios:
--- Bullish script (Main).
The currency pair is heading to the upper boundary of the global channel, which is located at 0.9180.
The watershed is the support zone 0.9025-0.9010, in case the pair manages to stay higher, the bulls will attempt to grow.
The risks of this scenario are the overbought currency pair and the absence of growth above 0.9085, and it is growth above that that will be the main driver for opening long positions.
--- Bearish scenario (Secondary).
As long as the currency pair is below 0.9085, bears can lower prices to the lower border of the local channel, and potentially to the lower border of the global channel.
Global Variables:
• Volatility: Weekly = 160 points // Monthly = 161 points // Quarterly = 180 points.
(The inversion of volatility has disappeared);
ATRs show a return to the zone of average, standard values.
• Trends:
SMA (50,100,200) continue to grow - from the beginning of the month.
• Range Ratio: 160 points (Growth from 150 points).
Best regards to followers,
"Wermelgion & Partners"
!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 & Co” 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.
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