Technical Analysis – EURGBP stays stuck between two diagonal trendlines

EURGBP traded higher yesterday, after hitting support at the crossroads of the 0.8385 level and the tentative upside line drawn from the low of low of March 7. Nonetheless, the advance remained limited near the conversion point of all the plotted exponential moving averages (EMAs), slightly below the downside line drawn from the high of June 15.

This likely keeps the near-term outlook neutral, a view also enhanced by the daily oscillators. The RSI rebounded somewhat, but it has now flattened near its 50 line, signaling a lack of directional momentum. The MACD, although negative, remains above its trigger line and is getting closer to zero, suggesting that the downside speed is now fading.

The bears may regain full control upon a dip below 0.8385, which could also confirm the break of the upside support line taken from the low of March 7. The next area to consider as a support may be at 0.8340, a zone which prevented the bears from drifting further south at the beginning of this month. However, if that obstacle is cleared this time around, a dive all the way down to the April 14 low at 0.8250 may be possible.

Alternatively, the move that could encourage more bulls to jump into the action may be a recovery above the high of August 12, at around 0.8495. This would confirm a forthcoming higher high on the daily chart and could set the stage for advances towards the peak of July 21, at 0.8583. Another break above 0.8583 could extend the advance towards the July 1 high, near 0.8675.

In short, EURGBP is stuck between two diagonal lines, and although the plotted moving averages are providing resistance, our oscillators detect a lack of, or little, directional momentum. This likely paints a neutral near-term picture for now.

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。