Here we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829!
Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern.
Along with the Bollinger Bands showing CLEAR signs of sideways trajectory!
Fundamentally for today:
EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am
GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am
As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum!
*Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern.
Along with the Bollinger Bands showing CLEAR signs of sideways trajectory!
Fundamentally for today:
EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am
GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am
As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum!
*Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
Catatan
We got a great break to the Downside!!Catatan
Price is starting to work its way back up!Watch for price to retest the break of the Rectangle Pattern (Consolidation Period)
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.