Advertisement
Canada markets open in 7 hours 37 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7308
    +0.0010 (+0.14%)
     

  • CRUDE OIL

    82.94
    +0.13 (+0.16%)
     

  • Bitcoin CAD

    88,012.16
    -3,377.45 (-3.70%)
     

  • CMC Crypto 200

    1,389.06
    -35.04 (-2.46%)
     

  • GOLD FUTURES

    2,329.50
    -8.90 (-0.38%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    -4.5980 (-49.71%)
     

  • NASDAQ futures

    17,435.50
    -229.00 (-1.30%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    37,633.48
    -826.60 (-2.15%)
     

  • CAD/EUR

    0.6817
    -0.0002 (-0.03%)
     

EUR/GBP Forecast Price Forecast February 26, 2018, Technical Analysis

Christopher Lewis
Updated
The EUR/GBP pair has broken down during the trading session on Friday, reaching below the 0.88 level. There is a lot of support in this general vicinity though, and longer-term charts suggest that the markets will continue to be very noisy.

The EUR/GBP pair has been very noisy overall, and I think that will probably continue to be the case. Remember, the headlines coming out of the negotiations between Brussels and London will continue to push this market around, so there’s always going to be the possibility volatility. When I look at the weekly chart, I recognize that we are in a 300-pip range, and that should continue to be the case until we get some type of resolution to the negotiation. Because of this, I think that the market should continue to be the case.

Looking at this market, I think that you should probably use something to the effect of a stochastic oscillator, so it’s likely that the short-term traders will continue to go back and forth. I think at this point, we are more likely to see a bit of negativity, but the 0.87 level underneath will be the “floor” in the market. The closer we go to that level, it’s likely that the markets will start buying in that area, and I would be all over that move. Short-term traders may sell between here and there, unless of course we turn around a break above the 0.8840 level, which then I would have to start buying. Again, I think this is a market that continues to be very volatile, but if you are nimble, and paying attention to the overall consolidate of area, you should have plenty of opportunities to profit from the well-defined rectangle.

EUR/GBP Video 26.02.18

This article was originally posted on FX Empire

More From FXEMPIRE: