US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
EUR/GBP: breaking bottoms
2020-11-13 • Updated
Let’s have a detailed technical look at EUR/GBP from a strategic point of view.
Since the beginning of the year, EUR has been gaining value against the GBP. When the virus came, in March, it was pushed out of balance but in the next month it was already back to the same upward trajectory. That, by the way, confirms once again that individual events only have a temporary impact on the market: it is the long-term processes and systematic events that drive currencies. In September, things changed. The currency pair reached the tactical highs above 0.92 and started falling. Since then, it has never stopped.
Currently, it trades below 0.90. The fact that the pair crossed this support downwards confirms the understanding of the market as predominantly bearish now. Although it already managed to make an upward retrace after dropping to 0.89, there is little doubt that it will continue falling. For this scenario, o.8870 is the regional bottom – it saw the price bounce upwards twice before. Will it happen again? Possibly, but a lot of things depend on the outcomes of Brexit – they are due in weeks, if not days. If the trend stays, 0.87 will be the next target for bears. So let’s watch how Brexit evolves and mark the checkpoints.
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WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
