24 Mar 2014
EUR/GBP testing 0.8350 downside
Currently, EUR/GBP is trading at 0.8350, down -0.18% on the day, having posted a daily high at 0.8384 and low at 0.8347.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slighty bearish. At the time of writing, RSI is neutral at 25.47, down from 42.16 at the last hour close, while ADX is trending at 35.47, up from 11.97 previous. Meanwhile, daily RSI is in neutral territory at 59.32.
On the hourly EUR/GBP chart, the 200 SMA is declining and currently at 0.8356, down from the previous hour close at 0.8362. On average, the exponential closing price for the past 20 days is 0.8320, with the trend indicating a continuation higher ahead.
How volatile has EUR/GBP been?
On the hourly EUR/GBP chart, ATR (14) is presently at 8 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 21 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is expanding at 248 pips.
Over the past four weeks, 8 pips has been the average movement for the current session. Following the four week period average, today’s most volatile hour is between 13:00-14:00 GMT which has an average movement of 13 pips.
What EUR/GBP price levels and patterns have to be considered?
Today's central pivot point can be found at 0.8360 with support below at 0.8348, 0.8330 and 0.8318, with resistance above at 0.8378, 0.8390, and 0.8408. Looking at price patterns, we can see a Piercing Line 1-day candlestick formation, .
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slighty bearish. At the time of writing, RSI is neutral at 25.47, down from 42.16 at the last hour close, while ADX is trending at 35.47, up from 11.97 previous. Meanwhile, daily RSI is in neutral territory at 59.32.
On the hourly EUR/GBP chart, the 200 SMA is declining and currently at 0.8356, down from the previous hour close at 0.8362. On average, the exponential closing price for the past 20 days is 0.8320, with the trend indicating a continuation higher ahead.
How volatile has EUR/GBP been?
On the hourly EUR/GBP chart, ATR (14) is presently at 8 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 21 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is expanding at 248 pips.
Over the past four weeks, 8 pips has been the average movement for the current session. Following the four week period average, today’s most volatile hour is between 13:00-14:00 GMT which has an average movement of 13 pips.
What EUR/GBP price levels and patterns have to be considered?
Today's central pivot point can be found at 0.8360 with support below at 0.8348, 0.8330 and 0.8318, with resistance above at 0.8378, 0.8390, and 0.8408. Looking at price patterns, we can see a Piercing Line 1-day candlestick formation, .