empty
 
 
17.07.2017 12:53 PM
EUR/GBP intraday technical levels and trading recommendations for March 17, 2017

This image is no longer relevant

Based on the daily chart, the pair has a prominent Supply Zone between 0.8870 – 0.9050 which applied significant bearish pressure on the pair in the previous visit in

November 2016.

Since May 2017, the EUR/GBP pair has been trending-up above the depicted short-term uptrend.

A few days ago, a significant bearish pressure was applied over the pair allowing initial bearish reversal signs to appear.

Note that the price level of 0.8750 (Demand Level) may hinder further bearish decline. That's why obvious bearish breakdown below of 0.8750 is needed to enhance the bearish side of the market.

This image is no longer relevant

Recent Bearish breakdown of the lower limit of the depicted bullish channel that was established in June 2017.

Supply Zone existing around 0.8810-0.8860 has succeeded to pause the ongoing bullish momentum. This may indicate a possible bearish reversal opportunity.

Conservative traders can wait for a bullish pullback towards the mentioned supply-zone (0.8810-0.8860) for a valid SELL entry. S/L to be placed above 0.8880.

Projection Target should be expected near the price level of 0.8650 provided that early bearish breakdown of 0.8750 is achieved.

Mohamed Samy,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback