New Currency to follow

Morning Dynamic Traders

This week I have decided to follow the EURGBP. This pair has had quite a roller-coaster ride since the beginning of this year. We are currently in a Down Trend on the daily chart, but price isn’t dropping as aggressively as it has been earlier in the year.

The hour chart below helps to explain what I mean by this. You can see quite clearly where price has taken a breather. In between every breather price had then dropped a lot until Friday where price has had to work harder to fall i.e. price is beginning to slow down.















Why is price slowing down I hear you ask? If you look at the day chart below you will see that price is currently being held at a S/R line.













We have to wait and be patient to see what happens next. Will price use the S/R line and bounce back up or will it continue to fall!

Find out on tomorrows update to see what events occur today!!

Happy Trading

Richard Monnery