Hi traders yesterday I putted EURGBP and USDCHF into my watchlist one is on the daily the other is more intraday wich is now the euro pound I'll explain you why I would go Short on this pair because I do see an decent oppurtunity here.
As you can see this pair is heavily bearish price has fallen more then 4 percent since early may
No signs of exhaustion .
I drawed on the chart there is basically alot going there : first there is a channel price is now trading on the upperside of the trendline
after drawing further I recognized a triangle pattern also indicating this could go much further
You can either decide to short now or on the upperside of the triangle but risking price not to go high enough and lose the oppurtunity
Unemployement rate is forcasted no change hower CPI forecasts high consumer prices indicating deapretiation on EURO causing it to fall even further.
If it decides to go wrond I'll try to exit around 0.77000
Target is not set yet
As you can see this pair is heavily bearish price has fallen more then 4 percent since early may
No signs of exhaustion .
I drawed on the chart there is basically alot going there : first there is a channel price is now trading on the upperside of the trendline
after drawing further I recognized a triangle pattern also indicating this could go much further
You can either decide to short now or on the upperside of the triangle but risking price not to go high enough and lose the oppurtunity
Unemployement rate is forcasted no change hower CPI forecasts high consumer prices indicating deapretiation on EURO causing it to fall even further.
If it decides to go wrond I'll try to exit around 0.77000
Target is not set yet