Signal combination of fundamental and technical analyses! A good time for sales!

10 february 2022 148
Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
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2nd in the segment "Currencies"
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On 4 February, quotes of the EURGBP currency pair again crossed the upper Bollinger band predicting a speedy downward reversal along with the AD indicator recommending sales.

 

On the same day, the Eurozone Retail Sales decreased by 4% and the macroeconomic background filter began to show 9 of 14 assessments for the pair’s sell (3 EU indicators and 6 UK indicators):


 

Having indicated in a research, the signal’s profitability of technical analysis “Bollinger bands reversal” supported by the macroeconomic background filter is above the profitability of a “clear” technical signal.

 

Thus, there is a good opportunity to make money off a decline of the EURGBP currency pair.

 

A target level can be 0.828.

Another option of the exit can be independently fixating a position on the Close of trading on 25 February (at the end of the 15th trading day starting from 7 February).

Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Indices", "US stocks" and "Metals"
2nd in the segment "Currencies"
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