EURGBP#2:--->Waiting for sell:Good day, dear #investors and colleagues #traders!
Your attention to the analysis of the currency pair #Eurgbp:
The asset ended the week with an increase of 377 points or + 4.36%. The euro has been growing against the pound for the 4th consecutive week, following the results of this trend rising by 750 points or 9.03% since February 18.
Current volatility is 389 points (Range - coefficient).
#Technical analysis:
Globally (D1):
The currency pair formed a double bottom on the daily chart and decided to reach the maximum - 0.9323. The intermediate resistance zone is 0.9080;
Locally (H4):
The currency pair left the ascending channel, breaking its upper line. Heading almost vertically towards the nearest resistance line - 0.9080;
By tradition, we call the weekly support and resistance zones:
A) Support: will be presented on Monday, at the opening of markets;
B) Resistance: will be presented on Monday, at the opening of markets;
#Indicative_analysis:
- Leading indicators: At the close of the trading week, leading indicators of the fund demonstrate the entry of the currency pair into the "Zone of potential sales."
- Price behavior indicators: At the close of the trading week, the fund price behavior indicators demonstrate the currency pair entering the “Abnormal price behavior”.
- Trend indicators: At the close of the trading week, the fund trend indicators show a steady upward trend.
=> Total: All indicators indicate that at the moment, the price has entered the zone of potential sales. Our fund will expect price consolidation or correction to open short positions with possible targets of 0.8812 and possibly 0.8730.
#Orders:
Opening short positions is not recommended at the moment.
If you open a position on this instrument, we will inform you of the transaction parameters.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
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