Sunday, 10 January 2016

Forex Signal 11-15 January 2016: Resistance BreakOut, BUY EURGBP

2015 EURGBP move in a range between 0.69 (support level) and 0.74 (resistance level).
In the beginning of 2016, EURGBP break the resistance level, and trigger buy order for MARS trader.

Let's see what happen.
This is EURGBP weekly chart:


How to read the chart:
1. Red doted line is 200 SMA
2. Blue doted line is 50 SMA
3. Yellow doted line is 20 SMA
4. White horizontal line is support and resistance line.

This is one of my favorite setup, a signal appear right at the resistane level. Do i violate the MARS rule number one (sell if the price below the 200 SMA)? Yup, this is MARS advance mode (aggressive mode).

EURGPB test the resistance at 0.74 twice but fail. Than last week, the price break it and headed to 0.78 (about 400 pips above the resistance)


Enjoy your trade!


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