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.

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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/H9fW9ewiQd
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/yLt0ldtMsV
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/ZwwuTzTeac
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/4DGXwA8vqs
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/mAMhWbV6Jy
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
Guest Commentary: Sentiment Guides EUR/GBP Triangles

Guest Commentary: Sentiment Guides EUR/GBP Triangles

Ed Matts, Technical Strategist

* Euro Sterling has entered a new phase within the medium term uptrend that requires a different type of trading strategy.

* Because it is consolidating in what should prove to be a bullish triangle, we can use the 5 different sentiments in the SHIFT triangle with Fibonacci to time our trades with greater confidence.

* We have reduced longs and would be inclined to sell short term looking to buy a deeper 'Irritating' retracement.

* Euro Sterling likely remains in the relatively early stages of a bullish 84.45-87.15 triangle. This requires a different trading strategy to the previous aggressive uptrend but sentiment should prove a useful guide as it changes throughout the five stages and legs of the SHIFT triangle.

Guest_Commentary_Sentiment_Guides_EURGBP_Triangles_Ed_Matts_MarketVisionTV_body_Picture_1.png, Guest Commentary: Sentiment Guides EUR/GBP Triangles

Following the sharp 3 legged 'Surprising' disappointment to 84.45 just beyond the 38.2% Euro Sterling recovered in a 'Hopeful' rally that failed at 8685 at 86% of the previous decline. It is now in the midst of an 'Irritating decline' that confirms the loss of volatility associated with more triangular consolidation and a deeper retracement through pivotal 8575 to 8480 the confluence of 86% and c=1.618a.

We have significantly reduced longs looking to rebuy this weakness against 8445 for more 'Frustrating' and then Tedious' price action before the eventual break up through 8715 to the 8835 target. A loss of 84.4 would suggest Euro Sterling is acting out a larger version of the first decline to as deep as 83.25.

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