JPMorgan, Wells Fargo, and Citi are all set to release earnings prior to the New York bell with Saxo Bank head of equity strategy Peter Garnry bullish on trading income, commercial banking, and – Trump permitting, of course – stock markets in general.
Day trade
Trade view / 29 July 2016 at 5:56 GMT

Sentiment negative as EURGBP fails to breach Marabuzo line

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

Demand dominated EURGBP yesterday, but the upside, which as platformed by the 13 day line, failed to effectively breach the Marabuzo line created on July 12.

This maintained the range trading that has been the backdrop to this month’s price action. So this means that immediate signals for sentiment cannot be entirely clear, but failure to hold yesterday's highs leaves our studies negative.

Management and risk description
A move to 0.8380 means the stop can be lowered to break even.


Entry: Sell in 0.8405/10 area and any rally to 0.8430.

Stop: 0.8452 bid.

Target: 0.8380 and 0.8365

Time horizon: Intraday, London 1600 close (1500 GMT)

Marabuzo Line
Marabuzo Line
Extremes rejected
Extremes Rejected

 Long-term trend
Long Term

All charts: CQG. Create your own charts with SaxoTrader; click here to learn more. 

For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
Charles Asmar Charles Asmar
Hi Alan, I am short @ 0.8440 should I keep my limit 0.8365?
AlanCollins AlanCollins
yes, .8465 still right risk level. Would now lower to break even if .8425 seen.
Charles Asmar Charles Asmar
Any call or suggestion for GBPUSD?
assi assi
Hi Alan, are you still holding short EURUSD earlier this week...?
AlanCollins AlanCollins
Hi Charles. Ntg in GBPUSD this afternoon. a little late in the day for me. Prefer now to wait until next week.
Assi, sadly yes re EURUSD, FOMC impact greater than assessed as likely, but will close at 4pm LOndon time. Ntg runover the weekend
assi assi
Thanks Alan, have a nice weekend....
Charles Asmar Charles Asmar
Thank you Alan for your time, concern and help, Take care
Dj TinTin Dj TinTin
still short EURGBP 0.8463
Chaz Keiderling Chaz Keiderling
Hope you held on through the spike, looks like nose diving is in action
vyacheslav111 vyacheslav111
Hi,Alan! Your opinion on EUR|GBP now ?
AlanCollins AlanCollins
Today's view on EURGBP will be on Saxo's Trademaker after 7am


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail