This pair has been going up for weeks and weeks and I have been waiting for it to fall. In comparision GBP with other pairs has slowly shown strenght.
My analysis and why i am taking this trade.
First a very clearn price rejection candle on 29 August 2017.
After these a very strong bearish candle
Price is bearish since than.
Also price has tested previous high ( resistance zone- 0.92262) and the last week candle has closed below this resistance level
On 4H timeframe the price has started creating new LL's and LH's
Also price has closed below monthly resistance zone and monthly RSI in the the oversold zone.
Based on all above i expect EG to fall to check previous structure support zone.
Trade Safe guys.
My analysis and why i am taking this trade.
First a very clearn price rejection candle on 29 August 2017.
After these a very strong bearish candle
Price is bearish since than.
Also price has tested previous high ( resistance zone- 0.92262) and the last week candle has closed below this resistance level
On 4H timeframe the price has started creating new LL's and LH's
Also price has closed below monthly resistance zone and monthly RSI in the the oversold zone.
Based on all above i expect EG to fall to check previous structure support zone.
Trade Safe guys.