Comments on chart. Feel free to like and comment Cheers Jesse
Check the chart for more information. Cheers Jesse
Sorry about the colour contrast. MONTHLY/WEEKLY/ Chart Analysis. The recent strong bullish movement looks to change the direction of the trend, but at this current time it is still within the downward trend and following the down trend pattern. A reversal at the 0.382fib or 0.80586, is what i'm seeing atm, looking to continue down to the 0.64686 mark if the...
A few arguments in favour of my call. 1. Divergence on major indicators. 2. MACD crossover. 3. Shooting star candle. On a fundamental level, ECB to introduce further QE plus recent oil gains should push EURGBP down.
Target is predicted at 0.80500 = 500 pips. Good Luck!
It's known as butterfly pattern :p.... Short @ 0.7368 TP 1 @ 0.7335 (reachable if GBP PMI stuff is better than expected) TP 2 @ 0.7250 (next target for the patient trader :p) SL @ 0.7450 ( above D point) SL 2 @ 0.7500 (for the nervous trader :p)
The EUR/GBP cross is currently in a technical position that I'm not very comfortable with. On one hand, prices remain in a long-term downtrend explained by monetary policy divergences between the BoE and the ECB. But on the other hand, the euro has been recently bid in despite of Mario Draghi's recent talk of expanding/prolonging the ECB's current QE program. The...
As you can see on the right chart, the trend in EUR/GBP is clearly up, and recently a"Triangle" pattern has been forming. Now it looks like the price is going to make a break-out. The target is above 0.7421 high. Possible event-risk is UK GDP release due in 30 minutes.
Since the summer of 2013, I've maintained a bearish stance on the EURGBP cross as I correctly anticipated the central bank divergence theme (article in French : bit.ly). Back in December, I indicated that this pair could reach £0.72 with a break of the 2012 lows. This target is almost reached, and I will be watching the euro for the first signs of a corrective...
Still overall bearish, Previous price action shows 50% - 75% pull backs into similar strong bearish bars which are highlighted on the chart. I am still bearish on this pair but we should see a short term pull back to around 0.73200. Look for price to slow or reject at this level for entry opportunities. This price also coincides with the .236 weekly fib.
Hey traders, Another buying oppertunity here on the EUR/GBP! Now the bigger picture rules ALL in the market and this pair has completed a rather large . A, B, C, D formation finding support at 0.7595! We are now due for a bounce up to 0.7760 As the upside target zone. very clean,relaxed and simple Price action analysis from the team.
My honest opinion is that one of the major mistakes globaly is that traders counter trend immidiately once price hits PRZ. Even with DT or DB you need some sort of comformation, at least break of DT/DB and wait for price to retrace back to the V bottom of DT structure or A top of DB. I found out that the best way to get comformation that trade has really changed...
This BAT pattern shows near future picture. XA leg ate all 5 waves and exhausted. (This was part of my longtime analysis posted yesterday). Now looking at this near future pattern, it comes with 1.618 BC extension and 0.886 XA retracement in tight area (0.81196 - 0.81245). This will be a reasonable target once B line is broken. (Some participants will look this...