EURGBP Follow Up
Key Takeaways
Technical Analysis
4Hr timeframe for EG looks for supported in the interim as traders put their focus towards the NY session with all eyes on the FOMC later today. If we're able to break below the 200SMA I would look for the 0.9 psychological level for nearterm support. If on the other hand traders focus more on Gold or the USD, I would expect to see some bearish relief and expect this pair to continue to trade above the 200SMA for the time being.
Regards,
Michael Harding
RISK DISCLAIMER
Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.
- DAX barely budged this morning -0.11%
- FTSE 100 +0.49%
- 200 SMA Support
Technical Analysis
4Hr timeframe for EG looks for supported in the interim as traders put their focus towards the NY session with all eyes on the FOMC later today. If we're able to break below the 200SMA I would look for the 0.9 psychological level for nearterm support. If on the other hand traders focus more on Gold or the USD, I would expect to see some bearish relief and expect this pair to continue to trade above the 200SMA for the time being.
Regards,
Michael Harding
RISK DISCLAIMER
Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.
Disclaimer
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