This simple guide was designed to help aspiring traders understand the structure of the markets. Structure is apparent on all Timeframes so it is imperative that you familiarise yourself with it.
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EUR has been really strong against the GBP which is struggling due to Brexit - DEAL OR NO DEAL uncertainty. I predict that there is a short opportunity within this market for the time being. Using the Fib levels , will have to wait & see if price reaches any of the crucial levels (0.618/0.5/0.382) before the down trend continues . Alternative if the Bearish...
Ok, going to throw in a little education from a trade I got on earlier. Nothing overly special from this trade. 30 pip move (and counting hopefully, the trade is still running).
First of all, I always draw my Fibonacci tool from top to bottom, never bottom to top but I appreciate there are people who do otherwise.
So drawing from swing high(0.90517) on the 1H...
EURGBP - Intraday - We look to Sell at 0.9240 (stop at 0.9270)
Price action has formed a bearish ending wedge formation. Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Rallies continue to attract sellers. There...
EURGBP - Intraday - We look to Sell at 0.9255 (stop at 0.9285)
Price action has formed a bearish ending wedge formation. Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Rallies continue to attract sellers. There...
EURGBP - Intraday - We look to Sell at 0.9230 (stop at 0.9260)
Trades at the highest level in 23 months. Selling posted in Asia. Price action has posted a bearish inverted Hammer and is negative for short-term sentiment. Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of...
EUR/GBP 4H
Price has been in an uptrend for for sometime on this pair, as the Pound has been quite weak. As you can see, it was respecting the ascending Trendline, sometimes to the PIP. The Red arrows are showing Price Action, unable to break 4H Resistance for a few attempts. Once broken, I want to see a re-test of that level which clearly happens. The manner in...
OANDA:EURGBP
EURGBP Outlook
This pair has claimed retail trader accounts since mid-2019. Traders thinking they have found the top but with Brexit talks very much a hot topic.
Price has found a bullish channel after breaking yearly highs and recently broken the midline. Previous high acting as support with S1 pivot right on top. Will wait on this level for...
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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