Despite the bullish movement on last two days, the $EURGBP can still be seen as a good Sell opportunity for next days.
The Fibonacci extensions matches with some important horizontal levels and if it brakes the previous low (0.8330) it can go all the way down to 0.8100
Here are two possible scenarios:
If the price "respect" the trendline and the support it's a BUY.
If it breaks the trendline it's a Sell.
Either way we have a nice Risk/Reward ratio!
You can follow other indexes (such as DAX and S&P 500) as they are with a strong correlation this days.
Please leave your thoughts on the comments!
Price breaks to the downside and closes beyond the lower band in a classic breakout fashion;
After making a bit of a bottom price pulls back a bit;
The pair goes for another low, but this time it is not riding along the lower band. It makes another low but it's well within the Bollinger bands showing momentum has decreased to the downside
A buy signal...
My first public chart here on TadingView!
This is a simple analysis using support and resistance levels and a trending line. The EMA is added to give some more data.
As we can see, de pair is currently on the bottom side off a triangle and getting squeezed between the EMA and the support zone. The levels (support, resistance and diagonal line) on the graph...