Article Summary:
Greetings, Everyone, and Welcome to Friday! While The Nikkei and other Asian-Pacific Bourses move into Positive Territory on the back of the U.S. Equity Close, we are still working with Ranges and Continuation as a whole… as evident by the various Technical Patterns that
Article Content:
Greetings, Everyone, and Welcome to Friday!
While The Nikkei and other Asian-Pacific Bourses move into Positive Territory on the back of the U.S. Equity Close, we are still working with Ranges and Continuation as a whole… as evident by the various Technical Patterns that we see around The Markets with Flag, Triangles, Wedges, and the like.
While we have had plenty of Volatility and IntraDay Opportunity as we have discussed… we still look out and consider the Larger Ranges we are in… also a Topic we have visited many times here on The Blog!
We have a look at The EUR/GBP in this Case for a fine Illustration of this type of Behavior…
Give The Captures a Click with Commentary above, and Post-Time is 1:15 GMT.
The Euro Pound is historically our “Consolidation Ranging King” in this case… except for the last couple of years… so we have a look at The Unit on The Daily View, as it works through an Hourly Symmetrical Triangle within a clear Macro-Downtrend Channel.
The Hourly Views sees the Symmetrical Triangle clearly Intact… as Price looking to be “In Concert” with the overall Downtrend from March is Highly-Probable in this case.
A Break to at least the 61.8% Weekly Fib Variant of the October ‘08 Weekly Uptrend @ the .8500 Handle in the Immediate-Term. Continuation will see the .8400 Area of “Basing” Support in the Near-Term.
Please join me, as always, for the final “Currency Majors Technical Perspective” Report of the Week at 6:30 GMT as we move into The European Session.
Of course, many Blog Updates to follow as well… as we see where our last Day of Trading takes us!
Please Join Me!
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