Daily Analysis | EUR/GBP | 12 of April

Posted 12 April, 2018

Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/GBP has been trapped within the narrow range of W L3 and W H3 Pivot. Slow price action indicates that we might expect a breakout when volatility gets higher. At this point, the price is stalling between the two trend line diagonals that also intersect essential pivot points. Break of W H3 – 0.8737 should target 0.8760 and possibly 0.8792. However a break of D L3 – 0.8710 should target 0.8680. The EUR/GBP ATR is low, so pay attention to breakouts and corresponding targets.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
Best wishes,
Nenad
Follow Admiral Markets on Facebook – @AdmiralMarkets on Twitter – for the latest market updates.

 

                                                                                                                 By Nenad Kerkez | Admiral Markets

 

Follow @TarantulaFX  on twitter for latest market updates

Previous forecast

13 April, 2018 14:39

← Australian dollar rebounds on April 13

The Australian dollar is rising against US counterpart on Friday. The price stands at 0.7807. Australia’s Federal Reserve Bank released financial stability report this morning. The announced data was welcomed by investors. According to the report, Australian financial system looks quite stable in the global meaning and the bank system – balanced.

Australian dollar rebounds on April 13

Next forecast

11 April, 2018 14:40

US Federal Reserve may stick to safe policy →

The US-China stand-off remains the topic issue in the global market. Although the tensions somewhat softened between the parties, investors remain heads-up waiting for further development of the situation. The signs that China and USA are ready to hold meaningful talks will support demand for the risk that started slackening at the morning trading...

US Federal Reserve may stick to safe policy
Write a comment
 
Prove you’re not a bot + 20 = 32