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:
Background

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.

Parameters

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












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— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
29 July
Charles Asmar Charles Asmar
Hi Alan, I am short @ 0.8440 should I keep my limit 0.8365?
29 July
AlanCollins AlanCollins
yes, .8465 still right risk level. Would now lower to break even if .8425 seen.
29 July
Charles Asmar Charles Asmar
Any call or suggestion for GBPUSD?
29 July
assi assi
Hi Alan, are you still holding short EURUSD earlier this week...?
29 July
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
29 July
assi assi
Thanks Alan, have a nice weekend....
29 July
Charles Asmar Charles Asmar
Thank you Alan for your time, concern and help, Take care
29 July
Dj TinTin Dj TinTin
still short EURGBP 0.8463
29 July
Chaz Keiderling Chaz Keiderling
Hope you held on through the spike, looks like nose diving is in action
02 August
vyacheslav111 vyacheslav111
Hi,Alan! Your opinion on EUR|GBP now ?
02 August
AlanCollins AlanCollins
Today's view on EURGBP will be on Saxo's Trademaker after 7am

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