EUR/GBP LONG/SHORT Opportunities. Mnth/Wk/Daily charts used
Sorry about the colour contrast.
MONTHLY/WEEKLY/ Chart Analysis.
The recent strong bullish movement looks to change the direction of the trend, but at this current time it is still within the downward trend and following the down trend pattern. A reversal at the 0.382fib or 0.80586, is what i'm seeing atm, looking to continue down to the 0.64686 mark if the move is strong.
However if the 0.382fib retracement is broken also meaning a break of the downtrend, we can look for the bullish move to continue up just pass the 0.50fib to around 0.84968, if the trend continues, we can look just past the 0.618fib to around 0.88170 for our next stop.
Daily Chart Analysis 29th/02/2016
Short on the 0.77165 break. Down towards the weekly resistance (0.70328 point). If the move is strong look towards a push to the support of the monthly trend parallel channel.
MONTHLY/WEEKLY/ Chart Analysis.
The recent strong bullish movement looks to change the direction of the trend, but at this current time it is still within the downward trend and following the down trend pattern. A reversal at the 0.382fib or 0.80586, is what i'm seeing atm, looking to continue down to the 0.64686 mark if the move is strong.
However if the 0.382fib retracement is broken also meaning a break of the downtrend, we can look for the bullish move to continue up just pass the 0.50fib to around 0.84968, if the trend continues, we can look just past the 0.618fib to around 0.88170 for our next stop.
Daily Chart Analysis 29th/02/2016
Short on the 0.77165 break. Down towards the weekly resistance (0.70328 point). If the move is strong look towards a push to the support of the monthly trend parallel channel.
