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Eurgbpbullish

EUR/GBP Long term ideaHope you are well. My opinion on EUR/GBP pair. Monthly chart. The weekly chart in description. Black line - main chart line. Purple line - supporting chart line. AC ; BD showing us uptrend channel . HH and LH . HH LH AB length = CD length (CD is almost equal, around 200-300 pip different.) AB length around 3000 pips and it took around 5 years. CD length around 2800 pips and it took around 7 years. BC length = DE length ? Let's see. BC length around 4000 pips and it took around 8 years. If we will look at the trend channel we need 3rd touch. There is a big chance that DE length will reach the 1.10 which will be equal BC length (4000 pips and it will be after 8 years). AC length = CE length around 12-13 years BD length = DF length around 8 years. So DE length is in the middle of the way, forming a bull flag , after correction could be another impulse up to 1.10 ( Impulse-correction-impulse ). It's a long term analysis we will need a few more years to reach this level. But if we know the trend, we can follow up on it and made only LONG trades. I hope you enjoyed. Please let me know if you have any questions. DISCLAIMER: Any opinions, news, research, analyses, prices, or other information contained on this post is provided as general market commentary, and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Long
by bagdisb
2
EURGBP Is Setting Up to Complete a Regular Flat Pattern.EURGBP decline from August 2019 high can be seen as a classic Elliot Wave five-wave impulse pattern, labeled 1-2-3-4-5. Every impulse is followed by a three-wave correction. That is what seems to be in progress in EURGBP's case. The rally from wave 5 low unfolded in three-wave, followed by another three-wave decline which must have been wave "A" and "B" of a larger A-B-C flat pattern. If this count is correct, this corrective scenario best fit in for a 3-3-5 regular flat pattern according to EW. So it makes sense to expect a five-wave rally in wave "C" to complete the corrective cycle. However, the theory states that once a correction is over, the larger trend resumes in the direction of the impulse. Here, once wave “C” is over, a bearish reversal can be expected. What's your thought on EURGBP?
Long
by Veejahbee
2