Short term
Trade view / 05 September 2016 at 7:54 GMT

Bearish Evening Star still dominates EURGBP

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURGBP
Price target:
Market price:

A weekly bearish Evening Star pattern, completed two weeks ago, continues to dominate the background to EURGBP. Last week's price action created a second negative weekly performance in a row with all trading capped by the key 13-day moving average. 

In fact, each of the last four days posted losses and with the market tracking the lower end of a falling Keltner channel, we continue to look to the downside this week.

Management and risk description

A move to .8344 means the stop can be lowered to break even or better.


Entry: sell in 0.8410/20 area and any rally to 0.8494.

Stop: 0.8580 bid.

Target: 0.8344 and 0.8252.

Time horizon: this week.

Bearish Evening Star:
Bearish Evening Star

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Source: CQG

Capped by average:
Capped by Average
Source: CQG

Long Term
Source: CQG

— Edited by Michael McKenna

For more on forex click here.

Non-independent investment research disclaimer applies. Read more
sam wightman sam wightman
Hi Alan
Is the Trade EUR/GBP still on ?
AlanCollins AlanCollins
yes - Little unlucky that entry marginally missed early on but everything remains relevant.
sam wightman sam wightman
yes !
it`s a good shout.
Dj TinTin Dj TinTin
I'm in 8430


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