EURGBP - Intraday - We look to Buy a break of 0.9000 (stop at 0.8970)
Price action has posted a bullish Engulfing Candle and is positive for short-term sentiment. Upward pressure has continued and the previous resistance area of 0.9000 is under threat. Price action is forming a bullish flag which has a bias to break to the upside. Bias is mildly bullish today but...
Usd is weakening and will soon crash with in a few months markets must prepare for this and will be pricing this in shortly, to add to this the technical's here are as shown simple elliot impulse wave as well as a bearish continuation flag with the wicks touching the 61.8 fib.
-Looking to short this pair on the reversal of the 61.8% fib level which is also in confluence with the supply zone.
-Price is also below the EMA which indicates bearish signals.
-Top down analysis from the weekly and daily show a bearish trend.
-Very good opportunity to go short of this pair.
-Lets's see what happens during the week!
100% PRICE ACTION
Hey guys, one more forecast for the week. Here we can that price is moving in an uptrend for a long time. Price couldnt break above the high it created and so began its move down. Price then began to create a correction (bearish flag). Price created a key structure at the 50% retracement area of the fibonacci, indicating a strong structure. as...
good morning guys and girls just an update with this and looking at price action im still looking for downside on this but price is changing but looking to be making a deeper correction to what i can see now a few options on how to take a trade like this but i will keep you updated on the next move
so if you watch this you can see how sometimes patterns play a big roll in structure on the markets and waiting for them to play out we can see whats happeneing now so we need to just wait anything can happen and we have news at 15:00 for the dollar
so this is very very clean structure you can see this for what it is 2 outcomes you can see with this again better trade would be the outer structure with this trade an the higher times frames line up with a sell
just a little breakdown on this pair looking for whats next with price action theres a few options going forward we need to look out for and understanding this doesn't have to happen whats ive broken down but does look good to catch a short on this when it shows it for us
this could sell from this area first and lets see how it falls from this point now if its corrective in nature then this will tell you longs could be coming into play but take price action on how we got there this could sell first before a long lets see how it is, this by all means could break above retest that zone and go long so anything can happen around this area