EURGBP --- The bumpy path to the top:
Good day, dear investors and colleagues traders!
This week, the currency pair took advantage of bullish divergence and broke through the global down trend line, which it fought for the whole week.
However, the proximity to the reversal of indicators such as MACD, Stochastik and the presence of the hourly chart in a zone of high oversold, may indicate a potential down-trend retest.
The asset formed a new low this week at 0.8671, while local high is at 0.8863.
Thus, this week the asset grew by only 50 points.
Technical analysis:
H1
Analysis of the data suggests that on Monday we will most likely spend in correction to the down trend zone, from where it is necessary to wait for the bulls reaction. At the moment, it is clearly seen that the 0.8685 zone is holding back seller activity.
H4
The price has moved out of the normal price movement zone. And it fits tight to the potential sales area. However, this price analysis suggests that it is too early to open a deal.
W1
Special attention is paid to the weekly chart in which the currency pair reversal was formed.
Volatility data and possible goals for the current month:
- Average volatility:
a) Weekly = 71 points;
b) Monthly = 93 points;
c) Three-month = 81 points;
- Potential goals:
a) For bulls = 0.8849, 0.9003 and possibly 0.9089;
b) For bears = 0.8609, 0.8520 and possibly 0.8368;
! Attention, the average volatility must be taken into account when placing stops, so that your order would not be knocked down by market noise.
! Attention, potential monthly goals can be both final closing levels of positions and potential reversal levels.[/I]
Recommendations:
At the moment, we do not recommend market participants to enter the market, since there is little explicit data for entry, it will be necessary to analyze the schedule for Monday.
Regards to subscribers,
Ltd. Wermelgion & Partners Investment
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
This week, the currency pair took advantage of bullish divergence and broke through the global down trend line, which it fought for the whole week.
However, the proximity to the reversal of indicators such as MACD, Stochastik and the presence of the hourly chart in a zone of high oversold, may indicate a potential down-trend retest.
The asset formed a new low this week at 0.8671, while local high is at 0.8863.
Thus, this week the asset grew by only 50 points.
Technical analysis:
H1
Analysis of the data suggests that on Monday we will most likely spend in correction to the down trend zone, from where it is necessary to wait for the bulls reaction. At the moment, it is clearly seen that the 0.8685 zone is holding back seller activity.
H4
The price has moved out of the normal price movement zone. And it fits tight to the potential sales area. However, this price analysis suggests that it is too early to open a deal.
W1
Special attention is paid to the weekly chart in which the currency pair reversal was formed.
Volatility data and possible goals for the current month:
- Average volatility:
a) Weekly = 71 points;
b) Monthly = 93 points;
c) Three-month = 81 points;
- Potential goals:
a) For bulls = 0.8849, 0.9003 and possibly 0.9089;
b) For bears = 0.8609, 0.8520 and possibly 0.8368;
! Attention, the average volatility must be taken into account when placing stops, so that your order would not be knocked down by market noise.
! Attention, potential monthly goals can be both final closing levels of positions and potential reversal levels.[/I]
Recommendations:
At the moment, we do not recommend market participants to enter the market, since there is little explicit data for entry, it will be necessary to analyze the schedule for Monday.
Regards to subscribers,
Ltd. Wermelgion & Partners Investment
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
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