Forex: EUR / GBP with “sell” opportunities from current levels


Time frame: H4

Technical analysis: Clearly declining trend which started on 03.01.19. After the pair made a bottom at the price of 0.8620, it entered a short ascending trend. On 07.0219 the upward trend was broken, but the pair failed to continue to fall but instead the price managed to reach the upper diagonal resistance and retest the short-lived upward channel.

Indicators: The price is below 200 EMA, and it plays a role of resistance.

DeM – In neutral territory and does not give signals for the moment

Aggressive Entry into a Deal: Sell from current levels.

Conservative entry into a deal: After a second retest of diagonal resistance launched on 03.01.19 we can enter the market with “sell” positions.

SL: 0.8850

Alternative Scenario: Breakthrough of diagonal resistance would lead to a test 0.8860 level test

 Trader Milko Zashev

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance