fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for EUR/GBP Mon Jan 21, 2013 11:55 am | |
| Technical Analysis for EUR/GBP Positivity feeds the pair as although Stochastic is in overbought areas, now it carries negative signs, according to the weekly graphs. Linear Regression Indicators are positive as well, therefore, overall positivity prevails. However, the pair is too close to 50% correction at 0.8420, preventing us from suggesting an intraday correction in our weekly report, especially when Risk/Reward Ratio is far from convenient thus, we stay aside in this report. The trading range expected for this week is between the key support at 0.8260 and the key resistance 0.8575. The short-term trend is to the upside targeting 1.0370 as far as 0.7785 remains intact. Support: 0.8380, 0.8355, 0.8330, 0.8290, 0.8260 Resistance: 0.8420, 0.8450, 0.8500, 0.8535, 0.8575 Recommendation Based on the graph and explanation above, we recommend neutrality for Risk/Reward Ratio is inconvenient. | |
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