Hello, we see the price close clearly under 1.5000
Now is rejecting from this level. MACD shows also no divergence.
I agree we have strong supports levels on W1 and M1 , but the targets shown on this chart are reachably.
Would be interesting if a point of divergence could be identified. So far I haven't seen one. Ideally it would make more sense to go Euro long while shorting GBP if there was some evidence of a divergence.
Yes, there is no divergence now on D1 chart, it seems today the price will close under a strong monthly support, so i expect a more bearish sentiment. The EURUSD situation is complicated due to QE of BCE, we can have sudden moves on both directions. This one is more predictable......
Please be calm, I believe on this trade, but im not free of mistakes. This is just and idea, not a recommendation to buy or sell. You must always do your own analisis before entering a trade. If you want take a look on my other ideas and choose another idea.
I am a bit new at this, so I am trying to learn from others. The thing is views on the same pair can differ VASTLY! I am not an expert trader that's why I run into problems deciding which is the best route.
I understand you, if you are new i reccomend to trade only on demo account until you have minimum three months of consistent profits. You must also learn and choose one trader system and test it to do your own analisis. Its a long way to be a trader.....Take a look at his post:
This one is dodgy because the eurusd looks like it wants to go up. Usually gbpusd and eurusd move in the same direction. gbp going down and eur going up would be the exact opposite of what has been going on for the past year.