As every Wednesday, I analyze the market to look for the currency pairs that have the cleared market conditions.
I look for: clear S&R levels and clear swings.
I use that information to determine: what the market is likely to do, based on one of the most important principles of trading: most of the times the market moves from one level to the other.
Today one of the currency pairs that I like the most id the EURGBP
_20140716151938.png "EURGBP Daily")
As you can see, its clear that the EURGBP is trading in a bearish condition. But what its more important is that it is likely to continue its way down, at least until it reaches its next LT support level which is at 0.7797.
So its clear that I’m going to be looking for short opportunities.
_20140716152031.png "EURGBP")
The EURGBP has clear S&R in the short term charts, so I’ll wait for a retracement to the ST resistance level and I’ll look for my short opportunity from there.
Are you currently monitoring the EURGBP? Would you trade it? What other pairs are you currently watching?
I look for: clear S&R levels and clear swings.
I use that information to determine: what the market is likely to do, based on one of the most important principles of trading: most of the times the market moves from one level to the other.
Today one of the currency pairs that I like the most id the EURGBP
EURGBP Long Term Analysis
Here is the daily charts:As you can see, its clear that the EURGBP is trading in a bearish condition. But what its more important is that it is likely to continue its way down, at least until it reaches its next LT support level which is at 0.7797.
So its clear that I’m going to be looking for short opportunities.
EURGBP Short Term Analysis
Here is the Short term chart:The EURGBP has clear S&R in the short term charts, so I’ll wait for a retracement to the ST resistance level and I’ll look for my short opportunity from there.
Are you currently monitoring the EURGBP? Would you trade it? What other pairs are you currently watching?
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