Thursday, March 26, 2015

New Signal EUR/GBP

*Position Update: As of 03/27/2015 @ 7:18 EST The Global Currency Scalper covered it's position in EUR/GBP @ 0.72786 booking 47.1 Pips profit.

As of 03/26/2015 @ 19:55 EST:

We have identified a possible short position in EUR/GBP.  This pair has been in a downtrend since late 2014 and has recently bounced just short of the 38.2% Fibonacci level.  We feel the EUR/GBP is preparing to sell-off once again especially after putting in an evening star candlestick.

The Global Currency Scalper will be shorting EUR/GBP at 0.73220 with targets of 0.72570 which is the 23.6% Fibonacci level followed by the figure of 0.72000 and then 0.71700.  We will be placing our stop with a break of 0.74580, if this level is taken out prior to initiating our position we will cancel the order and perform further analysis.

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