章节 21 Is EURGBP going down?
29/03/2023
Summary
Euro consumer inflation negative expectations Lead the market
Fundamental analysis
Fundamentally on this pair of EURGBP, we saw today's news on the GBP Mortgage approval was Positive figures at 43.536k Better than the previous month at 39.647k Which give strength to the pound On the other hand We have tomorrow in the eurozone News coming for consumer inflation with the negative expectation which that give weakness to the euro.
United Kingdom BOE Morgage Approvals
Previous 39.647k
Actual 43.536k
Eurozone Consumer Inflation Expectations
Previous17.7
Expected —-------
Eurozone Industrial Climate Index
Previous0.5
Expected 0.2
Technical analysis
In this 4-hour diagram chart, the market price now is 0.88029, we expect the market to push up the price to the previous supply zone at 0.88600 then we expect the price to create double top formation at this supply zone and then we expect the price to push even lower to the previous demand zone at 0.87800 and do break out at this demand zone to the oldest demand zone at 0.87300 with 20 moving averages pointing down.
Trading Recommendation
Trading Direction: Short
Entry Price:0.88348
Target Price:0.87289
Stop Loss: 0.88980
