Advertisement
Advertisement

EUR/GBP Forecast December 2, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 2, 2016, 04:53 UTC

The EUR/GBP pair fell initially on Thursday, but turned around to form a massive hammer. The hammer of course is a bullish sign but I think it will only

EUR/GBP daily chart, December 02, 2016

The EUR/GBP pair fell initially on Thursday, but turned around to form a massive hammer. The hammer of course is a bullish sign but I think it will only offer selling opportunities above on signs of exhaustion. A break down below the bottom of the hammer of course is a selling opportunity as well. I believe that the 0.8350 level will continue to be tested to see whether it can hold as support. I have no interest in buying this pair, at least not until we break above the 0.87 level which would be a very bullish sign.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

Did you find this article useful?

Advertisement