I want to make my last post for today and do the
roundup for eur/usd and gbp/usd pairs. These two are my favorite ones. US
session is about to end and we can place all the dots on i.
EURUSD
The pair continued with a bearish bias today. A
really good sell signal developed at the start of US session when a couple of
bearish pins formed blocked by 200 sma and ema on 15 minute chart. A short
could be taken when 13:15 GMT (candle closed) with a stop loss above 1.1125. It
would have been around 15 pips depending on your broker spreads and quotes for
the pair. Euro is coming back to the middle of the range now. It may start
tomorrow European session with a fresh break below today’s low or coming close
to it. In that case I would wait for a bullish reversal signal to go long. The
same is true if price goes up during European session and forms a bearish
signal. I would be happy to go short.
GBPUSD
British Pound exhibited the same kind of behavior as
Euro. The pair rallied initially at Frankfurt open, then formed bearish
railroad tracks and reversed suddenly. It then proceeded to fall and it did
fall through European and US sessions. It does not look like it is ready to
bounce now too. However, daily close at the lows does not mean tomorrow price will
head lower. On the contrary, it may reverse and go up and even breach today’s
high. If today low is broken I will wait for a reversal pattern to go long.
gbp/usd bullish signal on 15 minute chart
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