akyong
Long

EURGBP: Potential Bat Setup

FX:EURGBP   Euro Fx/British Pound
We have a potential bullish Bat pattern setting up on EURGBP             , which is inline with the overall trend of this pair. Fundamentally, both EUR and GBP are still bearish . Going into this trade setup, we expect an improvement in market risk sentiment to strengthen the EUR.

OUR DIRECTIONAL BIAS FOR THE WEEK

- EUR bearish (fundamental of EUR is still weak) - no key risk event next week
- GBP bearish (fundamental data on GBP has been weak) - watch out for BoE Monetary Policy

For more detailed analysis, visit our blog at: http://www.fxpresearch.com/market-analysis/2016/1/31/31st-january-market-analysis
Chief Currency Strategist
Alpha Play Forex Trading School - www.alphaplay.com.sg
YouTube - https://www.youtube.com/user/akyong9
Facebook - https://www.facebook.com/karyong
rajenderam40
10 months ago
PERFECT...... THX.......
+1 Reply
griffin1989
10 months ago
Long at what price level?
Reply
akyong griffin1989
10 months ago
i'm looking to long around 0.7360 region
Reply
griffin1989 akyong
10 months ago
sounds interesting, what will be your targert?
Reply
akyong griffin1989
10 months ago
i normally have my TP1 at 38.2 retracement and TP2 at 61.8 retracement from the top to where i entered
+1 Reply
griffin1989 akyong
10 months ago
if EURGBP gets supported at 0.73600 region, i see it going all the way to 0.79000 with possibilities of hitting 0.82000 region. Do you agree?
Reply
akyong griffin1989
10 months ago
I dont usually hold my trades for that huge movement. When it hit my targets i get out and look for the next opportunity
Reply
griffin1989 akyong
10 months ago
nice. Thanks man
Reply
arif_awan
10 months ago
great, thank you
Reply
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