In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the April 27th session.
EUR/USD — As you can see that we fell a bit during the day, as we continue to consolidate right around the 1.09 handle. I think in the longer term we go higher. I do recognize that this gap down below could get filled. Short-term traders may push us a little lower. I am waiting to see a supportive candle underneath, so that I can go long. I think that the uptrending channel will more than likely continue and I have a target of 1.10 currently, but I like to see a little bit of value come back into the market to the downside.
GBP/USD — The British pound continues to bounce around and grind sideways overall. I think ultimately we are going to see the market pick up quite a bit of steam and eventually go much higher. I have no interest in shorting the British pound. I think that the 1.2750 level, which was previous resistance, now should be supportibe, and of course the 200-day Exponential Moving Average has traders interested as well.
© Prabhu for Forex Videos, 2017. |
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