#EURGBP @ 0.88911 : Closing break above 0.8899/8904 to turn the short-term risks higher again – Credit Suisse
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
EUR/GBP is trying to break out above the top of its range at 0.8896/8904, which would open up a move to 0.8993 next, economists at Credit Suisse report.
“A clear and closing break above key resistance at the recent high and 50% retracement of the fall from September at 0.8899/8904 would rekindle thoughts of a basing process, with resistance then seen next at 0.8993/9006, which is the 61.8% retracement of the fall from September, then 0.9066, which is a key price high.”
“Key support moves to 0.8904/8899, then 0.8880. Below here would signal a false breakout attempt, with more important support then seen all the way back at the 55DMA and price support at 0.8742/15. Only a break below here would turn the risks lower within the range.”
[/s2If]
Join Our Telegram Group
