The Euro and the Pound

Good morning Dynamic Traders,

I hope you are all having a good weekend and preparing for the trading week ahead.

Todays cross for you to analyse ready for a possible swing trading opportunity is one very close to home of the EURGBP.

Of late this pair has been in a range and has a good figure just a little northwards. Although the V.I. is below with a fib cluster I am looking for a long opportunity and will trade in the usual way using my filters.

The pullback since late December does appear to be corrective but I shall wait to see the neartime action to verify my thoughts before jumping in.

Please do your own analysis before taking any trades and whilst doing so be sure to consult your sub chart indicators in as much as the Stochastics at present is heading up but over and above this there are other confluences happening which should start to give you direction, which you all need to be looking for in order to verify your trades.

Charts courtesy of TradeStation.

Enjoy your trading week ahead.

Clayton Farnworth.