Challenges{SCX-Moving Average}
{SCX-Oscillator}
{SCX-PivotPoints}
Technical analysis for EURGBP
The analysis shows a variety of moving averages and oscillators, and an overall buy/sell score based on the combination of all the indicators. All the figures update live based on each new market tick.
The moving averages combine traditional calculations (EMA, SMA) with averages which are designed to respond more quickly to changes in price, and to track the current price more closely (Hull, Arnaud Legoux). The table is colour-coded based on whether the current price is above (bullish) or below (bearish) each moving average.
The oscillators track over-bought and over-sold conditions. For example, a value of 80+ on the Stochastic oscillator is traditionally regarded as an over-bought signal, and therefore bearish.
The technical analysis also shows daily pivot points using a variety of popular calculations. If the current price has breached a support level, then that is considered as bearish. Conversely, the analysis regards it as bullish if the price is above a resistance level.
You can change the periods which are used for moving averages, and for oscillators. Adding more moving averages will change their weight in the total score compared to the oscillators. Conversely, adding or removing oscillators will change their contribution to the overall score relative to the moving averages.
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About EURGBP
The EURGBP pair is the abbreviation of the Euro and the British Pound. The pair tells the trader how many British Pounds (the quote currency) are needed to purchase one Euro (the base currency). This is one of the most traded currency pairs. The European and British economies are massively intertwined as large amounts of capital are exchanged on a daily basis between the UK and the European Union so the pair tends to be relatively stable. But events and news related to the exit of Great Britain from the European Union in 2017 affects the pair and creates more movement than usual.