As reported in my previous post on this pair this is now coming close to resistance. The blue line indicates the lowest point of the old support which was obviously broken and now should act as resistance. I want to see this reach this price and rebound lower to the next target. Need to wait for the price to show it is reacting to this level before entering a...
Like a lot of pairings at the moment this did not make a retrace and continued straight to the next support/resistance level. This touched the next TP price I had set but without the retrace I could not enter the trade.
Now the plan is to wait for a retrace as this is very overbought. A retrace to around 0.5 Fibonacci would be good but we need to see the rebound...
This hit my TP yesterday, I now want to see this retrace so we can enter another short. When viewing on the weekly and daily timeframes you will see this has been on a big drop without a retrace and we are now at a support level. This is why I feel it is a good time to secure profits and wait for a better position to short again that will take us past the support....
A downtrend is likely to reverse now as it is having multiple touches in downtrend and now it touched the weekly trend line and a strong bullish candle is formed in 1H time frame , put a buy limit few pips above the small 1H structure amd then be patient 🙌
I am waiting for price to close below the support line before I short to the greyed area where price has been rejected before
Once price has then continued to move I will place another short to the next support line
We will need to wait for the pullback upon breakout before placing the trade
We can see from the chart that this pair has fallen from this zone a few times in the past, i am currently selling but waiting for price to break this key level before adding another sell
I believe it will come up and test resistance again before dropping
Price has been rejected again at resistance and we are now looking for sells, I wont feel comfortable placing a trade until price breaks support.. Once done its a freefall
With GBP strengthening across the board, this looks a banker SELL trade. With WS1 just below this will be a magnet for EUR/GBP BEARS. I'm LONG GBP/USD (already analysed and posted) and am looking to see a similar move in the opposite direction on this pair. WS1 will offer support but I'm targeting WS2 at .8640 so IO'm in at .8753 with a STOP at .8788 and a...
GBP is strengthening across the board this bank holiday Monday and GBPUSD LONG is looking good (i've already analysed this) and EURGBP looks a standout SHORT trade.
My specialist indicator is strongly suggesting a SHORT/SELL trade on this pair with S1 resistance below which will be a target for BEARS. I think this level may go so I'm targeting .8640.
I'm in at...
EUR under more pressure this morning and I'm in SELLING EUR/GBP at .8753. All my charts are flagging this a good thing. I've a STOP at .8805 and a TAKE PROFIT at .8592 which is just above the WS2 pivot.
EURGBP having clear signs of potential bears although price is still following this rising channel, so he best thing we can do is simply wait out this pattern until a clear breakout is spotted, otherwise if we try to trade for price to leave this channel without it actually doing so, then price will continue to follow this channel and keep stopping out a lot of traders.
This morning we saw a close of a Bullish Engulfing which was followed by a slight rejection just above the monthly resistance level of 0.89430 . The EUR has continued this fall this evening however it being a Friday can produce unpredictable signals, we may see that the Bullish Engulfing does prove to be a turning point of the short downtrend this afternoon...
