bdswiss_-_forex_cfd_and_binary_options_-_2016-06-06_10-06-47From Investor to Scalper – series of studies created in cooperation with broker BDSwiss, in which we take a financial instrument and the analysis includes a detailed look at the value from the monthly chart and ending with 5/15 minutes.


At the monthly chart we see that after nearly seven years of ongoing declines of the currency pair EURGBP is moving north since December last year . As a result of these increases, in June this year we broken the downward trend line and due to emergence of a very strong supply response around 0.9030 level we observe currently a dynamic drop, which soon could be re-testing  the mentioned trend line from the top (as support).

EURGBP Monthly
EURGBP Monthly

Looking at the daily chart we see that almost from the beginning of November, the market moves south. Since last Friday we observe growths, which in  near future while re-testing local resistance could reject coinciding with the measuring 38.2% Fibonacci correction. The rejection of that level could trigger declines in the vicinity of 0.8333 support or further into line of the downward trend from the monthly chart

EURGBP Daily
EURGBP Daily

At the H1 chart we can see that the market is very dynamical and goes north with the result that today we defeated Friday’s highs. In the near future we can expect, therefore, the continuation of growth at least up to the next resistance around 0.8587.

EURGBP H1
EURGBP H1

On the M15 chart we see a gentle slowdown in growth over the last hour. If demand will not have enough strength to continue to growth, then according to the principle of changing the poles we could expect a re-test of today defeated level  0.8539.EURGBP H1

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