Euro Snowed Under!
Good Morning Dynamic Traders!
The EURGBP cross is displaying an abundance of variables for consideration; an exciting cross to discuss and decipher today.
The monthly chart distinctively displays an upward trend since the turn of the Century.
A virtually successful 'run on the pound' at the close of 2008 terrorised traders enough to ski down a black slope, which continues, despite the recent 'drag lift' attempt in January, back towards parity.
Below is the daily chart for the same.
The short term trend is cocaining downhill.
Price decisively snowboarded through a breather level and zero cluster last week, clambering back for comfort yesterday.
This movement manifested a trend line break followed by a fracture of a support last Friday, forming a double bottom formation.
Dynamic Traders should recognise the implications of this arrangement in the overall trend, whilst noting MacD boasting a contradiction on differing time frames!
The "zero" is proving to be a tough support
This indecision may be heightened by the material news releases due this week.
A 'swing' stance may gear traders towards a gestation period; patiently perceiving a market opportunity to hitch a cable car ride back towards the top of the mountain.
EURO GBP daily chart Advanced GetThe EURGBP cross is displaying an abundance of variables for consideration; an exciting cross to discuss and decipher today.
The monthly chart distinctively displays an upward trend since the turn of the Century.
A virtually successful 'run on the pound' at the close of 2008 terrorised traders enough to ski down a black slope, which continues, despite the recent 'drag lift' attempt in January, back towards parity.
Below is the daily chart for the same.
The short term trend is cocaining downhill.
Price decisively snowboarded through a breather level and zero cluster last week, clambering back for comfort yesterday.
This movement manifested a trend line break followed by a fracture of a support last Friday, forming a double bottom formation.
Dynamic Traders should recognise the implications of this arrangement in the overall trend, whilst noting MacD boasting a contradiction on differing time frames!
The "zero" is proving to be a tough support
This indecision may be heightened by the material news releases due this week.
A 'swing' stance may gear traders towards a gestation period; patiently perceiving a market opportunity to hitch a cable car ride back towards the top of the mountain.
Consistent Trading!
Saba Jackson
Labels: EURGBP
posted by Saba Jackson @ 9:51 AM
<< Back