Looking to Buy EURGBP as its in a uptrend. We have seen price break previous resistance and now testing the new support. We can see price bounce up from Buy range or the 200MA. Target is 0.90500 (60-70pips).
A quick analysis of the 1HR chart, Waiting on the next few candlesticks for confirmation on the next move.
Both 1H and 4H showing divergence on STOCH RSI for the possible bearish move and break trend support, waiting for more confirmation on this. Price has tested 0.882 for a double top and possible triple top. Will be waiting for RSI to be oversold and coming...
Yesterday's bullish call, after a break of a key mvg avg area, was justified as a 2nd up day in a row was posted. An intraday setback found fresh demand below the 100 day line with the resulting demand taking EURGBP through .8900. Intraday signals for sentiment are overbought and a reaction is likely. Nonetheless, sentiment is bullish and this morning’s call is a...
Following positive news on consumer and industrial confidence , service sentiment and business climate gives us positive outlook on eurozone.
Technical analysis confirmations
1-Daily and 1H MA match
2-Price rejecting Daily MA21
3-RSI 6 divergence
4-Price formed strong pin bar at significant previous low on 4H chart.
5-Good risk-reward 2:1
If you check my previous post you will see a long trade I opened on EURGBP, 3 days later and it has hit my take profit level and beyond. It survived some GBP news that hit Tuesday which slowed it's growth, but then continued it's movement upwards. Over 50 + Pips gained on this one trade! This trade was followed by a trailing stop which made it risk free around...
probably it could be insane to go against the pound strength (after the last week with an outstanding rally) but as usual i do my analysis without considering macroeconomics events are happening these days. And that's because we're traders, not analysts: here on the daily chart (left-hand side) you can see price has fallen and reached a key structure...
I think the short term downtrend on the EURGBP is a correction as the Euro should continue to get stronger. Looking for a bounce off of near-term support and a break of the downward sloping trend line for a long.
The EURGBP has just respected a very old and solid looking support level (label A). This level has been respected four or five times since July 2016. This level suggests buying positions. The upper descending trend line (label B) suggests resistance points. Using those levels as entry and exit points with a stop loss just below the lower extended support line...
today i want to bring an harmonic pattern to you. It's a Gartley pattern and its completion will be around 0,84890.
Remeber to put your stop loss below X, targets at the 382 and 618 retracement of AD leg.
If you have any question, feel free to comment below.
Bullish on higher highs and lows, strong support found at .382 fib level. Buying opportunities between the lower trend-line, and .382 fib level.
SL at .8150, given the likely volatility associated with the French election (23rd) and the continuing uncertainty surrounding Brexit.
TP at .9000