There was no follow-through selling after the red bearish bar.
Those who shorted will be trapped if price continues to go up higher this coming week - 17 Jun 2013
Stop will be at swing low.
It is forming a higher low, suggesting that there is underlying buying and the bears are not strong enough to take down prices anymore.
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Crude Oil is now at potential support after price fell significantly for the past 3 trading days.
If price can break the previous day high on Monday 25 Feb, there is a chance that it could test $98 in time to come.
$95 will be the near-term resistance
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After 3 days of pullback, EURGBP was seen with a small pin bar yesterday right at the resistance zone.
Prior to that, the resistance zone was tested a few times before it had a breakout during the Christmas period. The breakout failed and price fell below 0.8150 once again.
Overall, EURGBP is still in a downtrend on a weekly chart higher time-frame. If price can...
