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61.8

EUR/GBP - POST REFERENDUMEvaluating the strength of the EUR against GBP, comparing this to GBP/USD, August seems to be a key month where we see the beginning of a trend occur following economic events such as a recession, eurozone crisis, eu referendum etc.. Following events yesterday, the GBP has significantly declined in value and i believe below are a few reasons that has resulted in the decline of the pound and could see it decline further: 1) Foreign Direct Investment - with high levels of volatility and uncertainty, with the threat of now entering a recession, the levels of FDI will decline. 2) Immigration - migrants from the EU have grew the workforce by 0.5% in the past 12 months, helping to achieve growth in the economy, something the UK economy will now lose access to through the free movement of labour. 3) Housing Market - we could see a fall now in house prices, again foreign investors will be reluctant to invest in property when they are uncertain of the future economic effects the EU referendum could have on the country. From the reasons above i suspect a huge decline in the value of the pound. From this, i expect the value of the EUR against the GBP to increase to the projected value of around 0.87834 which are 2013 highs. At the moment we are testing the 61.8% fibonnaci retracement level of 0.80996, once we break through this i expect a strong move towards upwards. Let me know what you think in the comments below.
by MitchellShoesmith
EURGBP awaiting the BREXIT results (Weekly) PART2On the Weekly we can see the strong bearish bias with the large red candles all over the place. After the price has formed Bearish Engulfing on the 61.8% FIB it then made LH and came all the way down to the Monthly support level. Was a false breakout of the support when the price came back to retest the prior LH. The level 0.79370 is a very strong resistance as we can see that the price couldn't break it and close above. We can see the strength by all those spikes price made every time approaching the level. This time it made very nice Shooting Star out of this level and fall back down to Monthly support area where it is struggling right now. We can see that the EMAs crossed up however the price is still below the 200MA. As I've said in the PART1 (you can find on my page) we're heading down after bouncing back into the channel and off the FIB level unless we will break the channel, retest and continue to go up changing by this the existing trend. Thanks for taking your time to read all of this) I wish you all profitable trading
by Houdini
BEARISH BAT PATTERN ON NZDUSD / GOOD RISK REWARD / WITHIN TRENDUpdate on NZDUSD: Coming right into previous resistance which is typically a good way to look for a shorting opportunity. In this case the market gives us a bearish bat pattern at the 88,6 %Retracement from X-A. Moreover the Completion point D lines up perfectly with the 61,8 % Retracment from Swing High to Swing Low. Targets and Stops as shown on the chart. Make sure it fits your personal trading plan! Have a great weekend! Website: www.ogtpartners.com Twitter: goo.gl Facebook: goo.gl
Short
by WirmachenTrader
BUND - 4H - Breakout in progress?Thoughout the last year we saw a constant bull market in the Bund. now it seems its finally time for a little bit of releave (also due to stronger indicies) we saw an impulse breakout recently violating trendlines of the recent upmove. after that we corrected upward in a slow fashion. now another impulse down become more and more likly after the hit of the 618 retrecment. so look for trendline violations. i think we will most likly see a gartley type form - so a spike up again after hitting the first targetarea but if you want a second target zone it should be somewhere down at the retest of the next major trendline.
FX:BUNDShort
by SergeantPringles
1
NZDUSD: Structure is a Big MagnetGood Monday traders. Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down. The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait the price to enter the red zone, retest the wedge and then go short. Our targets will be next support levels: Target 1 @0.6284 and target 2 @0.62547. Also note that we are still in a bearish market. ---------------------------------------------------------------------------------------------------------------------------------------------- ATTENTION : Very soon, the best forex services will be available for you traders. Our team is working hard to satisfy your needs. We give you the opportunity to choose between the best brokers in the industry, with the confluence of analyses and investigation of our experts’ team. Our team will be ready to guide you through each broker you are interested. And this is the only beginning. Many more friendly services and atmosphere will be available only for you! And of course the best service ever, we do offer you a so called “Big Deal” service, which you have never faced before. Are you confused, interested what it is? Reserve your sits my friends! Follow me and be the first to enter our world!
Short
by RCP