EG Rallies From Demand Whilst EU and GU Head To Supply

This week we’re still watching EURGBP as last week price dropped into the demand level I indicated. EU and GU may also be in play too.

EURGBP – Long

We have a quality demand level on the daily chart and I already took a short term trade from the level. which you can see below:

2015-05-12 EG Long M5 v02

Entry was a bit late but still got 3:1 on it.

We could still see a rally much further so here’s the daily view.

2015-05-17 EG Long D1

EURJPY – Long

EJ has been rallying strong for a little while now and is heading towards a bit of resistance. Beyond that is a clear run of red candles (profit potential). If price engulfs the level then we could possibly trade long up through the profit zone.

2015-05-17 EJ Long D1

EURUSD – Short

EU is edging closer to the supply level from last week. We currently have a run of green candles so if that continues we could have a short trade if there’s a reversal.

2015-05-17 EU Short D1

GBPUSD – Short

Like EU, GU is almost at supply. We do have a red candle right below the level however which we normally don’t like to see. If price engulfs this after hitting supply, it may still be viable.

2015-05-17 GU Short D1

Video

Detailed Analysis

Members can click here for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries. We also analyse the markets for further trades throughout the week. If you do not have access to this premium content then you can find out how to sign up here.

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