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Fibonnaci

EUR/GBP - POST REFERENDUMEvaluating the strength of the EUR against GBP, comparing this to GBP/USD, August seems to be a key month where we see the beginning of a trend occur following economic events such as a recession, eurozone crisis, eu referendum etc.. Following events yesterday, the GBP has significantly declined in value and i believe below are a few reasons that has resulted in the decline of the pound and could see it decline further: 1) Foreign Direct Investment - with high levels of volatility and uncertainty, with the threat of now entering a recession, the levels of FDI will decline. 2) Immigration - migrants from the EU have grew the workforce by 0.5% in the past 12 months, helping to achieve growth in the economy, something the UK economy will now lose access to through the free movement of labour. 3) Housing Market - we could see a fall now in house prices, again foreign investors will be reluctant to invest in property when they are uncertain of the future economic effects the EU referendum could have on the country. From the reasons above i suspect a huge decline in the value of the pound. From this, i expect the value of the EUR against the GBP to increase to the projected value of around 0.87834 which are 2013 highs. At the moment we are testing the 61.8% fibonnaci retracement level of 0.80996, once we break through this i expect a strong move towards upwards. Let me know what you think in the comments below.
by MitchellShoesmith
Extremely Marvellous Looking Trading SetupI am Now Buying This One After Confirmation of the bullish Candle. Take Profit is at 161.8% extension. Stop loss is below this low candle wick another candle close if next candle closes below this low wick of this candle then i am out. on the other hand if a shake happens with a wick i will wait for market to close below this low wick to be out of this trade. Happy Trading Fundamental Analysis: Fundamentals are in favour of the Non farm payrolls by saying that us jobs will come at 225 greater than previous so i think i am quite good to be at positive side.
INDEX:DXYLong
by 2Smart2Trade
4
GBPAUD long to 1.982Okay so on the chart I have noticed that the channel was finally broken the other day - only for the breakout to be rejected with a huge comedown back into the channel. By applying a Fibonacci retracement to this new high we can identify future S/R levels. Now we're currently at the 0.5 Fib level (1.966) and there was a slight breakout from the channel but this time a bearish one. However, like the last breakout, the price appears to be rejecting the breakout and it wants to go back into the channel. This could be due to the support factor of the 0.5 FIb and the Cloud. Therefore, if the price were to continue and once again reject the breakout, let's aim for the 0.236 level at 1.9822 with a nice risk reward of 3:1. I've applied a tight stop just below the cloud - if the price were to drop then it would not doubt continue a bearish rally.
by AaronLeggett