Moves in EUR/GBP, EUR/USD Coming

Talking Points Today:

- EURUSD sees alignment in MACD, Stochastics on H4, daily.

- EURGBP triangle floor proves strong as resistance.

News flow is heating up right now but a lot of it is worth ignoring - at least, that's what the market is telling us. UK inflation at a 15-year low? No big deal, says GBPUSD. The ECB may have a smaller than expected QE package? I don't believe you, says EURUSD. No matter how you slice it, fundamental forces in the market aren't quite reliable right now, at least from a 'this is how things should play out if x then y' theoretical perspective.

Thankfully, we don't have to do much thinking when we lean on charting and technical analysis; the market's prices dictates the terms of our engagement, not our interpretation of news and data flow.

Accordingly, we're keeping locked into the EURUSD and EURGBP momentum trends that have gathered pace, which despite pauses in recent days, are still well-within the confines of continuation. EURUSD especially, as full timeframe continuity may be developing on the H4 and daily charts with respect to Slow Stochastics and MACD.

New to the table today are GBPCAD and NZDUSD, which have been on our radar for sometime; but there has been little conviction in taking a trade as the technicals have been rather choppy. However, the time for action may be nearing, as recent turning points in both instruments appear to be coming under fire.

See the above video for technical considerations in EURUSD, GBPUSD, EURGBP, GBPCAD, and NZDUSD.

#eurogbp #tradecurrency