EURGBP Triangular Contraction April 16, 2017, Sunday
Observation:
Price moves in a Triangular Contraction.
200MA moves upward as price keeps testing its support.
Price downward slope decrease as it goes near the corner of the triangle.
Low probability for price to move at the downward channel as the market has now decided to be in consolidation, contraction means there is some agreement between the price of sellers & buyers that is slowly moving towards equilibrium. But certainly big movements will happen after this quite moments.
Analysis:
The squeeze would probably be biased on the upward movement as price downward slope decrease. Price follows previous bullish movement.
Conclusion:
If price volatility is low this week without any lower low, there is high probability for price to be bullish. Wait for more confirmation.
Price moves in a Triangular Contraction.
200MA moves upward as price keeps testing its support.
Price downward slope decrease as it goes near the corner of the triangle.
Low probability for price to move at the downward channel as the market has now decided to be in consolidation, contraction means there is some agreement between the price of sellers & buyers that is slowly moving towards equilibrium. But certainly big movements will happen after this quite moments.
Analysis:
The squeeze would probably be biased on the upward movement as price downward slope decrease. Price follows previous bullish movement.
Conclusion:
If price volatility is low this week without any lower low, there is high probability for price to be bullish. Wait for more confirmation.