After 5 days of undecision and choppy trading (bearish consolidation), EURGBP correction may extend.
Daily:
- Firm Bullish Heikin Ashi signal.
- Possible retracement area is 0,7150-0,7200
4H:
- Price made a bullish Kumo breakout after worst than expected UK data. Buy entry criteria triggered.
- However Heikin Ashi despite its rather bullish bias shows some undecision on recent candle, namely because of little worse than expected EU CPI data.
- For continuation we need one more confirmation signal: Chikou Span to cross above past Kumo.
Counter Long still looks reasonable in 0,5 trade unit size. Of course it can get choppy around ECB decision.
The questions are still the same: what has already been priced into Euro reg. ECB easing, and if the GBP is really so much better ccy to trade at these lows?
Daily:
- Firm Bullish Heikin Ashi signal.
- Possible retracement area is 0,7150-0,7200
4H:
- Price made a bullish Kumo breakout after worst than expected UK data. Buy entry criteria triggered.
- However Heikin Ashi despite its rather bullish bias shows some undecision on recent candle, namely because of little worse than expected EU CPI data.
- For continuation we need one more confirmation signal: Chikou Span to cross above past Kumo.
Counter Long still looks reasonable in 0,5 trade unit size. Of course it can get choppy around ECB decision.
The questions are still the same: what has already been priced into Euro reg. ECB easing, and if the GBP is really so much better ccy to trade at these lows?
