TheBanker
Short

EURGBP Market Analysis and Trading Tips 17th August 2016

FX_IDC:EURGBP   EURO / POUND STERLING
Traders,

We have had a great amount of success over the past few, with focus on usd/jpy             and the BOJ as see in the related ideas, long may this streak continue!

SUMMARY:
The EURGBP             pair bounced slightly during the course of the day Tuesday, using the 0.8639 level as support. At this point in time, the market is looking bearish . The primary trend of EURGBP             is bearish on charts and price is trading below its support trend line in its hourly chart. In its daily chart the price is sustaining below 50 day SMA that are appears on the above image indicating downtrend of the pair. It is having an important resistance at the level of 0.8655 Support at the level of 0.8639. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.


STRATEGY:

EURGBP             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.


All the best with this pair and please do not over leverage, we can keep a tight sl on this.

GL

http://www.tradingsignalreviews.com
Thank you so much for sharing your deep knowledges !
I am a fresh student on the market, but learning a lot with your rainbow EMA lines =)
+1 Reply
well done
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thanks mate, hope you enjoyed your weekend off after nfp
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Lay-Z TheBanker
you too pal, ready for another week of pips for both of us
Reply
This is a good one. Learnt some good stuff.
Reply
@gcplau, thanks buddy, wish you all the best!
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