The EUR/GBP pair is in a downward trend for quite some time. On the daily its forming a bullish wedge.
Very short term trade with a small position. More of a practice tester.
Broke above horizontal resistance of .71
Long at .7105
PT .7129 (below July 27 high)
SL: .7095 Very tight. Below Aug. 10 high and horizontal resistance.
SUNE is coming down to possibly retest a breakout of what is major resistance over the last years (Since 1996) represented by the black line.
RSI is highly oversold at 23.
Things to think about:
*Major Support is at the $23.25 mark, but expanding trend lines show support at $19-19.50. The price may break Major Support and retest at rising support instead.
*Fib...
Hey guys. Forecast here is based on the past 5 year price action.
Downtrend started near 2009 end around 2.1 then bounced for a correction in middle of 2012 which I believe we are still in.
A bullish flag is forming over the past year and a half which is currently near its resistance trendline. A break in the near future could mean a continuation of the deeper...
60-mn chart showing the bullish wedge forming. Not sure where it will go to be honest. I'm not usually a breakout trader, but if this breaks resist. which is directly above, I will enter.
