In this video, the Trader Guy looks at the currency pairs, EUR/USD and GBP/USD for the June 30th session.
EUR/USD — We initially fell and then turned right back around to rally during the tradion session on Wednesday. It looks like we are testing this prevoius uptrend line. At this point in time, there is also a considerable amount of interest at the 1.11 level as it has been previously supportive. So, on an exhaustive candle, I am more than willing to go ahead and start shorting this market. I think there will continue to be uncertainty when it comes to the euro and at the moment it looks like the dollar is going to continue to be the safe haven currency.
GBP/USD — We have very much the same situation, we tried to rally and we got about half way up the gap and then we turned back around to sell-off. I think the pound continue to struggle overall and therefore it is a shorting opportunity on short-term rallies that show signs of exhaustion. I have no interest until we get above the 1.41 level, which does notlook likely to happen anytime soon.
© Prabhu for Forex Videos, 2016. |
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Post tags: EUR/USD, GBP/USD, technical analysis
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