Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro-EURGBP trade idea

EURGBP halted its three weeks of bearish trend and showed a minor dead cat bounce. Intraday bias remains neutral as long as resistance 0.8400 holds. It hit a high of 0.83720  and is currently trading around 0.83310.

 

Technicals-

 

The pair is trading below 34- and above 55 EMA in the 4-hour chart.

 

The near-term resistance is around 0.8353, a breach above targets 0.83720/0.83870 (23.6% fib)/0.8400/0.8435/8450/0.84650/0.84864 (38.2% fib of 0.8624 to 0.8399). Any close above 0.84865 confirms minor bullishness, a jump to 0.8540 is possible. The immediate support is at 0.8320, any violation below will drag the pair to 0.8300/0.82470/0.8200.

 

Indicator (15 min chart)

 

CCI (50)- Bearish

 

Average directional movement Index - Neutral

 

It is good to sell on rallies around 0.8378-80 with SL around 0.8400 for a TP of 0.8300.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.