Receive the latest alerts via email

Trade of the Day: EUR/GBP

By: Dima Chernovolov EUR/GBP recently broke the hourly Ascending Triangle chart pattern, which was earlier identified by Autochartist. Autochartist rates the quality of this Ascending Triangle at the 7-bar level – which is the result of the below-average Initial Trend (4 bars), medium Uniformity (5 bars) and substantial Clarity (8 bars). EUR/GBP is expected to […]

By: Dima Chernovolov

EUR/GBP recently broke the hourly Ascending Triangle chart pattern, which was earlier identified by Autochartist. Autochartist rates the quality of this Ascending Triangle at the 7-bar level – which is the result of the below-average Initial Trend (4 bars), medium Uniformity (5 bars) and substantial Clarity (8 bars). EUR/GBP is expected to rise toward the forecast price 0.8973 – in line with the earlier upward reversal from support area shown below.

As can be seen from the daily EUR/GBP chart below, the pair recently reversed up from the support area located between the powerful support level 0.8865, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp upward impulse from May. The proximity of this support area increases the probability EUR/GBP will continue to rise toward the forecast price 0.8973.

Total
0
Shares
Previous Post

Important price line breached by Verizon Communications Inc.. This price has been tested numerous times before.

Next Post

There is a 66.67% chance of CT trending downwards

Related Posts
Trade of the Day:  GBP/CAD

Trade of the Day: GBP/CAD

GBP/CAD recently broke the key 30-minute resistance level 1.6152, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 3-bar level – which is the result of the three previous reversals from this price level. GBP/CAD is expected to rise further toward the forecast price 1.6258. As can be…
Read More
Trade of the Day:  EUR/CAD

Trade of the Day: EUR/CAD

EUR/CAD continues to fall toward the key support level 1.4491, which was previously identified by Autochartist. Autochartist rates the Significance of this support level at the 5-bar level – which is the result of the five previous reversals from this price level. EUR/CAD is expected to continue to fall toward the support level 1.4491. As…
Read More