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Trading Vertical Option Spreads

When will the euro/pound abandon its downward slope?

By Julian Yosovitch

August 4, 2014 • Reprints

The EUR/GBP is trading at 0796 pounds and the current lows for the euro shows signs of resistance found at the 50-days moving average and the upper zone of the bearish channel at 0.80 pounds.

While the market fails to break our of the channel, the euro will remain vulnerable and attract new weaknesses near 0.79, and even into the 0785 area.

A break below the previous lows will signal further weakness, opening the door to new losses toward the lower area of the bearish channel at 0.780-0.775.

Only with a direct break above de0.80 pounds, the market will leave the bearish channel and release further rallies towards higher areas at 0.806-0.81 pounds in the first instance, and 0.82 pounds later and key short and medium term resistance for the euro.

Also, the break above that resistance will enable a bullish rallies toward more ambitious front values.
 

 

¿EUR/GBP abandonará el canal bajista?

El EUR/GBP recorta posiciones el lunes y opera en las 0.796 libras.

La baja actual del euro implica el reconocimiento de las resistencias coincidentes con la media de 50 días y la parte alta del canal en los 0.80 libras.

Mientras el mercado no logre abandonar el canal, el euro se mantendrá vulnerable a generar nuevas debilidades hacia los 0.79 libras, e incluso hacia los 0.785 libras. Luego, con el quiebre debajo de los mínimos previos,  implicará una señal  de debilidad abriendo paso a nuevas pérdidas rumbo a la parte baja del canal en los 0.780-0.775 libras.

Recién con el quiebre por encima de0.80 libras, el mercado abandonará el canal y liberará un avance mayor hacia los 0.806-0.81 libras en una primera instancia, siendo los 0.82 libras el escollo clave de corto y mediano plazo para el euro.

Más tarde, con la ruptura por encima de tales resistencias, implicara una señal de fortaleza, abriendo las a nuevos avances rumbo a valores más ambiciosos para adelante.

 

 

About the Author

Julian Yosovitch is a trader, and columnist for Ambito Fiinanciero (Argentina), Gestion (Peru), Saladeinversion.com, Inversion and Finanzas (Spain).
He holds a Bachelor of Business Administration and a Professor Master in Finance (UDESA). He is also a Capital Markets Specialist (UBA-IAMC) and Financial Markets Analyst - Ruarte´s Reports Trader. Follow his blogs here, and folow him on Twitter @julianyosovitch.
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Free Newsletter Modern Trader Follow

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