The NZDCHF fired off a Bearish Engulfing Bar (BEEB) on the daily chart. From this BEEB price has broken lower and moved into the near term support area. Because price is now sitting on a support level it would not suprise to see buyers step in and try to take prices back higher. If instead the …
EURGBP False Break Recap
Yesterday we posted about price on the EURGBP 4hr chart making a false break of the Very Big Round Number 0.800. To see this post see here: EURGBP False Break After posting yesterday price did end up breaking higher and moving into the area we had identified as the next resistance area. When …
EURGBP Rejection candles
The EURGBP has been moving much lower over the past few weeks and has now fallen into the Very Big Round Number (VBRN) of 0.800. Quite often these VBRN's can act as psychological support and resistance areas in the market. On the 4hr chart of this pair we can see some interesting price action at …
