We got some nice news today that the EU suggested to UK to put Brexit 'on ice' for five years.
Last few weeks there was fear that UK would leave without a deal.
On a technical side we trapped bulls, and we hit major daily resistance.
After analyzing the EURGBP chart for few days now the short is finally ready.
It's rejecting the daily trendline multiple times now and bullish action is slowing down.
Fibo level is also strong here and we confirmed the brake of the uptrend trendline also today.
We have 3 big resistance lines incoming,
-0.9 psychological level.
-important trendline on daily
-and as last the upper channel trendline
All 3 I showed by the arrows,
the worst scenario I sketched.
We also took out some shorts from breakout of previous high of the upper channel(see orange arrow)
Let's see, bulls are slightly stopping to buy above the 0.78 fibo level also.
It keep trying to break over 0.786 Fibo of the daily level but it keeps rejecting with big volume.
Be ready for a correction soon, at least to 88.4. After that pair possible break over Fibo level and weekly trendline what is also around the Fibo level.
Still little bullish tough at the moment, it wouldn't surprise me if we brake over 0.8975 for a moment to flash...
We took here a quick scalp on that jump.
Already put the SL on breakeven.
We took the trade on private account.
Soon we will start our new account with all the good stuff and much increased profit, follow us to keep updated!
Nice shortterm short opportunity today on EURUSD, like we said yesterday it could go either way.
I saw a rejection in 1H on the moving average and then it dropped like a stone.
We took a scalp short today on my other account. Soon we will trading many EU on our account for automated signals. We tested first for multiple months our skills on other account, now it's...
As for now it still hold this trendline and the moving average on 1H and 4H.
Need more patience. If we break and then retest, then it's a valid short. I expect a fall to 0.88 at least then.
--Then I will put a free signal here.
But anyway to get the easiest profit it's easier to follow our automated signals. :) --
Our first idea runs exactly like we showed..
What I now see at the moment is that it try to break the support line,
and more important, the 50 Moving average on the 4H chart and the 200 Moving average on the 1H chart.
If those 3 things line up, then retest and it fail, we can get a nice short.
We will hit probably next week some big resistance at 0.89400, I expect a change of direction from there.
We are already little bit overextended and also with no pullback, the Fibonacci level of 0.786 is around that level.
We have also some interesting news around the brexit that Boris Johnson don't wanna pay the invoice of 39 billion unless EU give a better deal...