EUR/GBP
failed to break above the resistance at 0.7080 and bounced off that level. It
reached the support at 0.7010 on the daily filter chart, formed a doji
candlestick and moved to the upside again, so it is very possible that it will
attempt to test the resistance level yet again. That said, the pair is forming
a rather clearly defined bear flag pattern, so even if it reaches the
resistance at 0.7080 I would be on the lookout for any candlesticks that
indicate a new move to the downside. Either way, for now there is not signal
that the bearish trend is over.
Very nice tip I'll keep it in mind.
ReplyDeleteI agree with your point.
ReplyDeleteExcellent analysis, thanks for sharing!
ReplyDeleteVery successful analysis, thank you.
ReplyDeleteWell done with the analysis.
ReplyDelete