EURGBP: Bullish Technicals and Fundamentals 4H (Apr. 21)X FORCE GLOBAL ANALYSIS:
In this analysis, we explore the bullish probabilities of EUR/GBP based on the bullish evidence suggested by technicals and fundamentals.
Technicals
- We have seen a breakout from the bullish falling wedge pattern
- After Elliott Triangle Wave (ABCDE) counts to Wave E, we formed a double bottom
- The Relative Strength Index (RSI) shows higher lows, as a sign of trend strength
- The Moving Average Convergence Divergence (MACD), despite not showing tremendous momentum, shows an uptrend
Fundamentals
- The United Kingdom runs a large current account deficit, which makes the pound vulnerable as capital flows faded at the height of the Corona Virus (Covid-19) driven risk sell-off
- GBP remains fundamentally undervalued with a significant Brexit discount still attached
- With the COVID-19, both the EU and the UK have been preoccupied with issues other than Brexit trade agreement talks; this increases the risk of a big negative UK trade shock in 2021
What We Believe
We believe in a higher probability for a further bullish rally for EUR/GBP based on the bullish technicals and fundamentals
Trade Safe.
Eurgbpforecast
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
Bears look to be in control for the time being. I believe we will be seeing pound strength. Looks like we’re retesting support I believe support will get taken out before we start climbing back to the upside. My downside targets around .8600
BANK HOLIDAY MONDAY SHORT - SHORT EURGBP - Look out below !!!!!!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 target of .8640.
LOOK OUT BELOW!!!!! - EURGBP crashing down SELL at marketGBP 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 .8753 with a STOP at .8788. WS1 at .8710 will support so expect a bounce but these's so much bearish pressure .8500 is not out of the range of the BEARS .
EURGBP WILL NEED BIGGER SLHI, TRADERS
MY NAME IS KD
TODAY I HAVE A GOOD STRATEGY PUBLISH TO ALL OF YOU :)
YOU CAN CLOSE YOUR TRADE ANYTIME AFTER YOU SEE PROFIT.
THERE IS NO OBLIGATION TO CLOSE AT TARGET TP.
RISK MANAGEMENT IS VERY IMPORTANT :)
HAPPY TRADING~
_________________________________________________
WANT TO LEARN MORE OR RECEIVE ACCURATE AND IMMEDIATE SIGNAL?
Telegram: KDEZ00
EURGBP short ideaHi traders,
I hope you are well. Here I have a nice setup on EURGBP. This pair is on a downtrend and we have seen a recent pullback with a bearish engulfing candle which suggest we should see another leg of bearish run. Therefore I have gone short on this and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
BE PATIENT AND LONG EURGBPHI, TRADERS
MY NAME IS KD
TODAY I HAVE A GOOD STRATEGY PUBLISH TO ALL OF YOU :)
YOU CAN CLOSE YOUR TRADE ANYTIME AFTER YOU SEE PROFIT.
THERE IS NO OBLIGATION TO CLOSE AT TARGET TP.
RISK MANAGEMENT IS VERY IMPORTANT :)
HAPPY TRADING~
_________________________________________________
WANT TO GET MORE ACCURATE AND IMMEDIATE SIGNAL?
Telegram: KDEZ00
EURGBP Buying Opportunity.Fundamental View
Unemployment rate = Worst
Jobless Claims = Worst
NFP = Worst
Technical View
EG been moving and trapped in Bullish Flag. Finally broken that channel and for further confirmation it has retraced as well.
Been at strong rejection zone. Hoping to get taken by BULLS from here.
R:R mentioned as well :)
Share your thoughts as well .:)