EURGBP Double Scenrio
Updated
Hello traders
Regarding the daily chart we are in a bearish channel, a upward reaction to the bottom of the chart was seen however 0.8490 was a strong zone that coincide with middle of channel and make prices lower!!
Mid term channel is bullish and we are around bottom of the channel, ready tp goes higher!
Regarding the current chart while the general trend is bearish we are bullish again! ready to jump up from bottom of the channel
Overall chance of rise is a little more
Bullish scenario will be activated after breaking the purple line
Bearish scenario will be activated after breaking the zone
Bulls powers: bottom of all three channel, reaction to the recent zone and bullish mid-term channel
Bears powers: short-term and long-term channels are bullish and we see a strong reaction to the long-term channel.
Regarding the daily chart we are in a bearish channel, a upward reaction to the bottom of the chart was seen however 0.8490 was a strong zone that coincide with middle of channel and make prices lower!!
Mid term channel is bullish and we are around bottom of the channel, ready tp goes higher!
Regarding the current chart while the general trend is bearish we are bullish again! ready to jump up from bottom of the channel
Overall chance of rise is a little more
Bullish scenario will be activated after breaking the purple line
Bearish scenario will be activated after breaking the zone
Bulls powers: bottom of all three channel, reaction to the recent zone and bullish mid-term channel
Bears powers: short-term and long-term channels are bullish and we see a strong reaction to the long-term channel.
Note
Purple line is brokenNote
SL hit! The bearish scenario is going to work! wait for another analysis.Trade closed: target reached
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