Euro review

Dear Dynamic Traders,

Hope you are having a fantastic weekend.

I have chosen to discuss the EURO today and update on the EURGBP.

The Euro has been strengthening of late after a period of consolidation. Price has tagged a previous resistance level and is in proximity of a RN. MACD is showing divergence on a longer and shorter term basis. In addition price is not far from a significant resistance level. The question is will it continue to rally? There is nothing to say that it won't continue, although a pullback may be witnessed in the interim due to all the confluences mentioned above. If already in the trade, good management with tighter stops is suggested.














The next chart is the EURGBP which I mentioned last Tuesday. Price has continued its journey up in a steady manner producing some nice profits and is now facing a resistance zone. Having just tackled a significant RN the buyers in the market are showing strength and there are no other confluences at this stage that suggest that it will stop its journey. That said, no one knows what will happen next and the smart money would not second guess. Therefore, as always manage your trade and if the price continues there may be an opportunity for those that are not in the trade to enter it once the resistance zone has cleared.














I will be unable to post any blogs for the next two weeks, however, you will still have the insightful blogs from Sonia and from fellow bloggers on the the member sites to help your trading.


Good Trading!
Bijal Shah