EURUSD and EURGBP weekly forecast
This week I want to concentrae on two Euro Pairs, EURUSD and EURGBP.
On EURGBP this week,
We see price has been in a range. As it’s retesting the high of the top of the range. To me, this is a box play and could be a very nice place for a short. The supply zone at .8981 up to .9046 is looking like it is going to hold on more time as price just gave us a shooting star candle off this zone. Overall, I believe that this market is in a forming a new downtrend, but it’s a little too soon to say that for sure. As we look at this market I think it’s important to see the support/resistance and supply and demand that’s affecting price right now.
Price is in a new downtrend overall and I’m looking at price holding here in supply and it starts another push back down to the lows at 1.1552. Price just formed this new downtrend at the end of the last month and we are seeing the first really good pullback back up at supply at 1.1880 down to 1.1829. I am expecting to see another push back down to the monthly lows at 1.1552 Overall, this is a really exciting shorting opportunity area as this could be the last hurrah before another big down push.
Learn to Day Trade Investing with One of the
Best Day Trading Courses
For almost a decade, APA Zones has been a leading trading software company with many satisfied customers. As a leader in zone trading, our software and trading team provides a comprehensive investment strategy learning experience. Simply put, we believe we are one of the best online trading academy’s online today. Contact us to learn more and see what the zones can do for you.
Get Free Trading Education
See what The Zones can do for you. New products and services coming soon, as well as our current quality products that are designed to help you .