rajenderam40
Short

head and shoulders pattern

FX:EURGBP   Euro / British Pound
77 0 9
To drive a little further away from the influence of the major risk events this week (Fed rate decision), I will be looking for a continued strenght from the sterling.

One of the best set-up this week is the EUR/GBP             . Has formed a clear head and shoulders pattern with the right shoulder being a test to the former broken rising trendline support as the new resistance.

The stands at 0.7700 and I will be taking a short position if we see a break there as this is also one of my favorites to play the short side on EUR after more than dovish ECB action last week.

Related Ideas

United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out