About Currency Cross-Eyed

Currency Cross-Eyed Author

Trading currency crosses opens a whole new side of the currency markets, as different crosses possess different qualities that can suit any style of trading. Some crosses move fast and are extremely volatile with daily ranges that may exceed over 100 pips. While other crosses move relatively slow and exhibit low volatility, which is more suited for novice traders.

Latest Posts

June 2007

S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Cross-Eyeing: EUR/GBP

Posted 22:05 17 June 2007 by Cyclopip

crosseyed chart

Hello Everyone! We have a nice technical setup on EUR/GBP, which looks like it's ready to continue the trend lower. Fundamentally, interest rates are expected to hike further in both the UK and the Eurozone as inflation remains a concern to both regions, but we will probably see the pair trend lower as the interest rate differential benefits short positions.

Technically, the pair has retraced back up from the recent move down from .6807 to .6731. Stochastics are in overbought territory and may look to turn lower soon. So, let's see if the pair touches the 61% Fibonacci level before jumping in short.

Short EUR/GBP at .6776, stop at .6805, pt1 at .6756, pt2 at .6735

Remember to never risk more than 1% of your account on any single trade. Adjust your position sizes accordingly.


Comments Comments (0) | Email to a friend Email to a friend | Printer friendly version Printer friendly version

Comments (0)

Post a Comment

You are not signed in. You need to have a user name to post comments. Please sign in. If you don't have one yet, please register. It's free!

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

"There are two kinds of failures: Those who thought and never did, and those who did and never thought."
Laurence Peter
Clicky Web Analytics