EURGBP recently broke above the top of its long-term range, indicating that a longer-term climb is in play. Zooming in to the 1-hour time frame shows that price is moving inside an ascending channel and is currently testing support. A bounce off this area, which is just above the short-term 100 SMA and .7500 major…

EURGBP is still inside its long-term range visible on the daily time frame and currently testing the resistance around the .7400-.7450 levels. If this area keeps gains in check once more, a move back towards the range support at the .7000 major psychological level could be seen. Stochastic and RSI are both indicating overbought conditions,…

On this eurgbp daily chart we have price at an area of resistance. Price has been trading at a nice range. Therefore where price is now is a very interesting area. We would be selling at the top of the range if you agree to be a bear on this chart. If price starts to…

The first target at the 200 ma was already hit and price respected that level. MACD is rounding out and stochastic is at the 80 % level. The GBP is generally gaining strength against other pairs therefore I expect euro weakness against the pound. If the stochstik moves below the 80 % and breaches the…

On this eurgbp daily chart I like that price is stalling at the 200 MA. If price does not move over the 200 moving average then price might continue its down move. It also alligns with my bearish fundamental bias therefore the down moves might be bigger. The stop loss would be placed over the…

EURGBP appears to have made yet another bounce off the bottom of its long-term range. Price tested the .7000 major psychological level recently and is staring to make its way higher. Stochastic is starting to head back up from the oversold area, indicating a return in bullish momentum. Similarly, RSI is also climbing out of…

Today the euro printed a bullish engulfing candle from the daily support level. Stochastik is climbing from the 20 % level so the next level from where I would like to short would be from resistance. Fundamentally I would only trade euro shorts and therefore always shorting high from resistance. Tomorrow on NFP we might…

Again every chart paints a picture. The art for every trader is to see what works best for him and to take action to achieve his goals. If you like to counter trend then a simple set up might be a double or tripple bottom. This one was easy to see because it was a…

EURGBP is still trading around the top of its range on the 4-hour time frame, as traders are waiting for the upcoming ECB statement. Price has been testing the resistance at the .7400 major psychological level for quite some time and has indicated a bit of downside momentum on a break below a short-term consolidation…

When a trader sits infront of his screen at the beginning of the market open he does not know if the market will trend or not. If price explodes up or down you might expect a trend and more participants playing the market at the current time. If price on the other hand just moves…

Again a euro chart for our analysis. We look for a bullish Macd and for price to be over the 200 moving average. We will surely be more lucky when trading always in direction of the 200 ma. When Stochstik is oversold and crossing up in a bullish trend it is then that we  trail…

EURGBP has been moving steadily higher but is still inside a rising wedge consolidation pattern. Price just tested the resistance and made a bounce, indicating that a test of support near the .7400 major psychological level might take place soon. The 100 SMA is still above the longer-term 200 SMA, which suggests that another bounce…

If in doubt of direction a trader might compare charts of the same currency like all the euro charts compared to other currencies. This enables a trader to confirm his bias and one is also able to choose the best chart. Higher highs and lows should also be on this euro chart to confirm the…

A trader needs to avoid every possible draw down to keep his powder dry to be able to trade. Psichological if losses are kept small the trader is able to better make up for them and return his account back into positive territory. Technically if the 55 moving average alligns with the 200 ma then…

I like to use the help of one indicator and also on this chart I chose to show the MACD. Number three shows a 123 pattern. Of interest is to acknowledge that price moves over the 200 and 55 moving averages. Therefore we try to take only long positions. We are also aware of the…

Price pops up over the 200 MA. Very good so I take a bullish view as long as price stays over this moving average. Simple to say but more difficult to do especially if you are trigger happy. The three white numbers are possible entries all from support. The first would have resulted in a…