€ / GBP: for our friends in London

Long term: weak

On a yearly basis, Bollinger bands spread will stop to increase. Moving averages, stochastic and MACD will continue to rise over the next period. Below 2009 low (.8401) the decline will extend.

On a quarterly basis, the bullish bubble is over since one period. Below PQ, MQ is our next target.

On a monthly basis, Bollinger bands spread is not minimal. LM could act as a support.

Idea: towards LM.

Bet: below LM, MQ could be a target.

R = MM (.8814);      S = LM (.8198), PQ (.8209), MQ (.7736)


Medium term: lower

On a weekly basis, our moving averages, stochastic and MACD trend is down (bearish no-crossover as a status). As long as our MACD is not oversold, the decline in progress will continue.

Idea: towards a new low

Bet: below .84

R = MW (.8792);        S = .8401, LM (.8198)


Short term: trading range

On a daily basis, Bollinger bands spread is not minimal. With a bearish A type crossover for our 7 / 23 days moving averages, LD will be our first target. Afterwards, a bearish pre-parallel could develop.

Idea: in July, LD will fail as a support

Bet: collapse below .8428

R = MD (.8587);           S= .8428 (May low) 


Conclusion: lower  


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