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Eurgbpforecast

EUR/GBP To drop to the lower trendlineGood day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We just broke below a very strong support that is turned resistance and we should expect the continuation to the downside. Weekly : After the break of the monthly support we retested it on the weekly and we rejected this area which is an extra confluence that supports our short setup. Daily : We have a downward channel and we are sitting currently at the upper trendline which is considered as a area of Supply and resistance. Also we had a retracement on the previous leg to the 0.5 FIB level which should be enough to continue the move. COT : Institution have been shorting EUR massively since they added closed more than 21000 long positions and added close to 7200 long position during the last report. From an GBP perspective we are still looking at a strong GBP since we went from 22000 Net position last week to 31000 Net position which is huge amount of long positions added. 4H: WE are sitting at a strong area of supply and we expect the price to grab the liquidity needed to push lower and start it's move. MACD : we are still in a bullish environment but if next candle manages to close below the EMAs we should see an environment shift EMAs: Cut for long for the moment but anything could change within the next hours EMA 200 : We are still below this EMA and could be considered as a resistance itself in case we decide to go higher to grab more liquidity. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Short
by TheDayzen
EURGBP | Perspective for the new week | Follow-UpWith over 350pips in the kitty, the price continues deep lower in our favour since my last publication on this pair (see link below for reference purposes). As the tendency for price finding lower lows increases, I suspect that the Euro risk a further decline in the coming week(s) on the back of the Pound finding "better days"! In this regard, a very simple set-up here-in reveals a short-term trading opportunity we can take advantage of. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Buyers loose the grip of pushing the price higher from Demand level GBP0.87500 mid Feb 2021. ii. Breakdown of Key level @ GBP0.87500 followed by a rejection of this level last Friday with "shooting stars" pronounces a the strength sellers have at this juncture in the market. iii. Bearish Trendline: The line drawn over pivot highs (Pivots I, II & III on the chart) reveals the prevailing direction of price action. iii. I am expecting the recent lower lows to transpose into an ABCD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg at 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ GBP0.84500 area. iv. In the coming week(s); the GBP0.86750 level will be regarded as a yardstick to maintain my Bearish expectations on this pair. Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:5 Potential Duration: 7 to 12 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
9
EUR/GBP Multi-Timeframe analysis (Update) 666.2 PIP Move?Hi Traders EUR/GBP Multi-Timeframe analysis Update H1 CHART ( Bullish ) Target 2 at 0.86964 has been reached. We closed the remaining 50% of our position and now we are looking for the next opportunity to enter the market. Support & Resistances 0.86272 0.86485 0.86155 0.86539 0.85957 0.86697 H4 CHART ( BEARISH ) Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop. Support & Resistances 0.86775 0.86995 0.86402 0.87597 0.85382 0.87903 DAILY CHART ( BEARISH ) Waiting for a retracement higher towards the 0.88602 resistance level in order to reinstate SHORT positions. Next important resistance is the 0.89428 level. Support & Resistances 0.86396 0.88602 0.84878 0.89428 0.82575 0.90841 WEEKLY CHART ( BEARISH ) Target 1 at 0.86142 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 0.88652 . Provided the market conditions will remain the same Target 2 will be reached soon. Support & Resistances 0.88602 0.91750 0.86142 0.93235 0.82759 0.94977
Short
by Avramis
EUR/GBP Approaching Resistance On RetraceAs 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 short but if it plays out as I am predicting then SL can be set just above 0.786 Fibonacci and the TP can be set at 0.84157. Below the TP price is a big support level which the price has been ranging from for the past 4 years. From there price is likely to correct higher and range for a while before there is any chance of a breakout below the support.
Short
by olly48
3
EUR/GBP Multi-Timeframe analysisHi Traders EUR/GBP Multi-Timeframe analysis H1 CHART ( BEARISH ) A high probability, entry signal to go SHORT was given at 0.86671 after the market found resistance at 0.86779 . Only the upward break of 0.86779 would cancel the bearish scenario. Support & Resistances 0.86402 0.86793 0.86182 0.86995 0.85809 0.87182 H4 CHART ( BEARISH ) Waiting for a retracement higher towards the 0.86793 resistance level in order to reinstate SHORT positions. Next important resistance is the 0.86995 level. Support & Resistances 0.86396 0.86793 0.86182 0.86995 0.85809 0.87375 DAILY CHART ( BEARISH ) Waiting for a retracement higher towards the 0.88602 resistance level in order to reinstate SHORT positions. Next important resistance is the 0.89428 level. Support & Resistances 0.86396 0.88602 0.84878 0.89428 0.82575 0.90841 WEEKLY CHART ( BEARISH ) A very low probability, entry signal to go SHORT was given at 0.88652 after the market completed a bull trap reversal pattern. Only the upward break of 0.92906 would cancel the bearish scenario. Support & Resistances 0.88602 0.91750 0.86142 0.93235 0.82759 0.94977
Short
by Avramis
EUR/GBP Wait For RetraceThis 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. I want to see this retrace to at least 0.382 Fibonacci and providing the indicators confirm and price rejects from here we can enter shorts to a target of 0.85959. My ultimate target is 0.83139 which is the bottom of a range this has been in since 2016.
by olly48
EURGBP - CURRENTLY IN DISCOUNT PRICINGTechnical Overview: - EUR/GBP We have had the chance to enter on a buy position last week and followed by closing the position before the initial drop we were anticipating. HTF - We are oversold from a higher time frame perspective and should be looking for long potential opportunities, since we are in the start of the week and US markets are closed on Monday, we do expect price to potentially going lower before we look for any buy opportunities. We will be approaching this with more caution and look should for confirmation before entering any to the upside. Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the Devil 😈 Trade with the manipulation👾
Long
by FlyDownX
7
EUR/GBP FORECASTGood day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We have just Completed an "M" formation We expect the price to continue dropping until the Demand zone and then start it's correction move . Weekly : We also have an "M" formation as well and the neckline is exactly in confluence with the 0.5 Fib level taken on the previous impulse leg. Daily : We are currently in an accumulation phase and we might see the price dropping a little bit more in order to grab the necessary liquidity for the correction move and then complete the "M" and "W" pattern . COT : Institution have been Increasing net positions in EUR since they added more than 4000 long positions and closed to 800 Short position during the last report. From an GBP perspective we are still looking at a strong GBP because hedge funds added more longs positions than shorts and this explains the fact that there will be a lot of sell limits on this pair and then support our idea of correction in the market. 8H: We have a descending channel , we failed to break through this channel during the previous week and we need a strong impulse to do so which mean we need to be at a strong level of demand to be able to make a massive impulse to the upside. Short term Trade : We will be entering at the next touch of the trendline for the continuation toward the demand zone. Long term : If the price succeed to drop at the demand zone we will be monitoring the price for a change of environment in order to enter a long position and capitalize in the retracement. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Short
by TheDayzen
3