Good day, dear investors and colleagues traders!
To your attention, an analytical look at the #Eurgbp currency pair:
Comment_for_went_week:
The currency pair continues to decline for the 2nd week in a row and naturally, given the past weakness of the pound, it is quite difficult to navigate the future direction.
However, some clues about the imminent completion of the decline in the currency pair are still present.
The main factor is that the asset reduced the range of the downward movement and completely left the downward channel.
The result of the week was a 119 point decrease in the Range coefficient to 252 points from 483.
• "Opinion of the managing fund"
“The pound looks like a weaker currency compared to the single European currency. The pound has a negative budget, trade and payment deficit. Weak investment activity, uncertainty around brexit, the tireless Scottish struggle for independence, all this plays against the once main reserve currency of the world.
The current crisis will only bring out all the problems that lurked behind the beautiful facades. "
Technical analysis:
Globally (D1):
Since August 2016, the currency pair is in the range indicated by the zones: 0.9310-0.9250 (Upper border) and 0.8340-0.8302 (Lower border). And the current volatility only tested the strengths indicated earlier.
Given the current situation, we can say that the currency pair will still test resistance levels that were not given at first sight.
Locally (H1-H4):
As mentioned earlier, the currency pair came out of the downward channel and it looks like it found support about 61.8% Fibonacci from the previous movement.
Mathematical resistance and support levels for this week:
~ will be available on Monday:
a) Resistance: 0.0000, 0.0000 and 0.0000;
b) Support: 0.0000, 0.0000 and 0.0000;
Indicative_analysis:
* Leading indicators: Demonstrate the potential purchase opportunity for a currency pair.
* Price behavior indicators: Demonstrate the return of the price to a "normal state".
* Trend indicators: show trend-down which are shown on local charts.
Final recommendations:
We recommend potential purchases of a currency pair, from current levels with a specific stop:
close the current position if the 4-hour candle closes below 0.8730.
The positions of the WMCI Asset Management Indirect Management Fund are always available for online monitoring.
If you are interested in cooperating with us and also if you need a link to public monitoring, please contact us by email: wmci.messagecenter@gmail.com.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!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 and Partners Investment” 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.
To your attention, an analytical look at the #Eurgbp currency pair:
Comment_for_went_week:
The currency pair continues to decline for the 2nd week in a row and naturally, given the past weakness of the pound, it is quite difficult to navigate the future direction.
However, some clues about the imminent completion of the decline in the currency pair are still present.
The main factor is that the asset reduced the range of the downward movement and completely left the downward channel.
The result of the week was a 119 point decrease in the Range coefficient to 252 points from 483.
• "Opinion of the managing fund"
“The pound looks like a weaker currency compared to the single European currency. The pound has a negative budget, trade and payment deficit. Weak investment activity, uncertainty around brexit, the tireless Scottish struggle for independence, all this plays against the once main reserve currency of the world.
The current crisis will only bring out all the problems that lurked behind the beautiful facades. "
Technical analysis:
Globally (D1):
Since August 2016, the currency pair is in the range indicated by the zones: 0.9310-0.9250 (Upper border) and 0.8340-0.8302 (Lower border). And the current volatility only tested the strengths indicated earlier.
Given the current situation, we can say that the currency pair will still test resistance levels that were not given at first sight.
Locally (H1-H4):
As mentioned earlier, the currency pair came out of the downward channel and it looks like it found support about 61.8% Fibonacci from the previous movement.
Mathematical resistance and support levels for this week:
~ will be available on Monday:
a) Resistance: 0.0000, 0.0000 and 0.0000;
b) Support: 0.0000, 0.0000 and 0.0000;
Indicative_analysis:
* Leading indicators: Demonstrate the potential purchase opportunity for a currency pair.
* Price behavior indicators: Demonstrate the return of the price to a "normal state".
* Trend indicators: show trend-down which are shown on local charts.
Final recommendations:
We recommend potential purchases of a currency pair, from current levels with a specific stop:
close the current position if the 4-hour candle closes below 0.8730.
The positions of the WMCI Asset Management Indirect Management Fund are always available for online monitoring.
If you are interested in cooperating with us and also if you need a link to public monitoring, please contact us by email: wmci.messagecenter@gmail.com.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!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 and Partners Investment” 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.
