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  • Eurgbp FX Spot: 9 October 2014

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    Helen Brown
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    The daily candlestick chart for EURGBP FX spot shows the short term trend is bullish while the medium term trend is bearish. Price action has moved higher, meeting the first target, but support may now become resistance at previous lows from July/August. The bullish reversal could see further higher prices if support holds above key previous low levels. Yesterday's market profile shows little volume resistance between current prices and higher levels, suggesting an easy path higher is possible. The summary is bullish on the reversal meeting first resistance but looking for support to hold for further gains.

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    Forex

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    The daily candlestick chart for EURGBP FX spot shows the short term trend is bullish while the medium term trend is bearish. Price action has moved higher, meeting the first target, but support may now become resistance at previous lows from July/August. The bullish reversal could see further higher prices if support holds above key previous low levels. Yesterday's market profile shows little volume resistance between current prices and higher levels, suggesting an easy path higher is possible. The summary is bullish on the reversal meeting first resistance but looking for support to hold for further gains.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    11 views1 page

    Eurgbp FX Spot: 9 October 2014

    Uploaded by

    Helen Brown
    The daily candlestick chart for EURGBP FX spot shows the short term trend is bullish while the medium term trend is bearish. Price action has moved higher, meeting the first target, but support may now become resistance at previous lows from July/August. The bullish reversal could see further higher prices if support holds above key previous low levels. Yesterday's market profile shows little volume resistance between current prices and higher levels, suggesting an easy path higher is possible. The summary is bullish on the reversal meeting first resistance but looking for support to hold for further gains.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Daily Candlestick Chart

    Automated levels
    Open
    High
    Low
    Close
    Change
    R3
    R2
    R1
    PP
    S1
    S2
    S3
    Yest MPHI
    Yest POC
    Yest MPLO
    10 SMA
    20 SMA
    50 SMA
    ATR
    RSI

    www.FuturesTechs.co.uk

    EURGBP
    FX Spot
    9th October 2014
    Yesterdays Market Profile

    7871
    7900
    7855
    7876
    0.08%
    7944
    7922
    7899
    7877
    7854
    7832
    7809
    7881
    7873
    7863
    7839
    7864
    7928
    40
    49

    Chart Levels/SkewBar

    Comment
    Short Term Trend: Bullish
    Medium Trend: Bearish
    Candlestick Chart says: Continued grind higher met our first target,
    support becomes resistance at July/August lows and the 38.2% Fibonacci
    retracement could see a pause and some back and fill here. Bigger picture
    this has potential to squeeze higher with support below at 7756 (2012
    low) and 7742 (50% of 20002008 rally) holding firm.
    Profile chart says: Not much volume to worry between 7900 and 7970 so
    the path higher should be quite easy, accordingly.
    Summary: Bullish reversal has met first resistance, we expect back and fill
    but look for support to hold for higher prices.
    Trade Idea: We are long at 0.7825, MOVE STOP TO 7820, Targets 0.7879
    HIT, 0.8013, 0.8148. Medium conviction keeper. Time stamp: 3rd Oct.

    R4
    R3
    R2
    R1

    7958
    7934
    7900
    7875-80

    S1
    S2
    S3
    S4

    7855
    7837
    7823-28
    7809

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