News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Guest Commentary: Trading the perfect Game Set and Match for EURGBP

Guest Commentary: Trading the perfect Game Set and Match for EURGBP

Ed Matts, MarketVisionTV,

Sterling has broken 0.7955 to maintain the aggressive medium term blowout to the ideal 0.7785 final destination.

* An 'Analogy of an Analogy' makes it alot easier and precise

* Short term strategy is starting to change to accomodate...

* A Major Medium Term Buying Opportunity!

Guest_Commentary_Trading_the_perfect_Game_Set_and_Match_for_EURGBP_body_Picture_9.png, Guest Commentary: Trading the perfect Game Set and Match for EURGBP

The 'Whistle Analogy'

EURGBP continues to follow price action from last April the Whistle Analogy…copying an approximate April 6th-19th time span but also an exact copy of a precise December 15th. So we've done this more than once. This analogy also matches the wave count channels pitchforks and sentiment.

A Slowing of the Decline

So although the spike to 7905 ended a short term trend sequence and provided an extreme point to draw a down channel off, it likely only starts a period of consolidation in a 7905-55 range before the downtrend resumes later this week to 7860 the equality target. Again this should provide prompt a retracement to the former broken 7955 low but continue to hold below now pivotal 7980.

Shifting our Trade Plan

Our strategy then is to stay short and sell rallies for now looking to reduce on new lows and start buying for an eventual recovery through 8005 to signal 8100-65 in a major reversal.

Further videos or commentaries are available from www.marketvisiontv.com or @EdMatts on Twitter.

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES