EURGBP Market Outlook | Daily Forex Market BreakdownAfter EURGBP tapped previously anticipated key level 0.85 I feel we could be seeing a reversal in trend soon. A bit too early to tell but this pair is shaping up very nicely.
Eurgbpforecast
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
Still floating around 0.85 we could be seeing a really good long trade soon. I feel price could dip a bit lower under 0.85 before reversing to the upside. So I will be waiting patently for now.
The Hunt For Eur Gbp BottomFX:EURGBP
This is a swing setup and longs should be build up slowly and gradually, there can be a breakout attempt soon
Potential Reversal for EUR/GBP?Intraday bias in EUR/GBP is turned neutral with a temporary low formed at 0.8521. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, our first target is 0.8630/50. A break of 4-hour 50 SMA and yesterday's high around 0.8680 will indicate short-term bottoming and bring stronger rebound back to 0.8786/9019 resistance zone first.
In addition, bullish signals have been detected on the 0.8521 major support where the price action of the EUR/GBP has formed a daily “Bullish Engulfing” candlestick pattern coupled with a bullish divergence signal seen in the daily RSI oscillator at its oversold area. These observations suggest that the momentum of the 3-month bearish move has started to wane and price action may see a medium-term bullish reversal at this juncture.
On opposite direction, a clear break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support (2019 low).
What do you think?
#EURGBP, 100 pips or moreA significant downward trend, but the support line can still be ignored at 0.85, with low chances of such support not responding to increases.
The RSI supports our buying strategy.
Target: 0.8670
EURGBP reversed from resistance, potential drop!
EURGBP reversed off its resistance at 0.85759 where it could potentially drop further to 0.85410.
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EUR/GBP LONG TERM SWINGARE BUYING ZONE FOR LONG TERM SWING
ENTRY 1 .85580
ENTRY 2 .85280
ENTRY 3 .84980
SL .84731
TP.1 .86280
TP.2 .87280
TP.3 .88380
TP.4 .89480
TP.5 .90580
#EURGBP, Are we nearing the end of the current wave of declines?A Stochastic indicator on line 7 signals the end of the declines.
The RSI is also very low on line 40, almost at the level it had in April when the eurgbp rose from 0.85-0.94.
The support line at 0.8520, 100 pips lower than the current price.
Buy in the support line area with a target of 0.8720 or buy now with the same target price (slightly higher risk)
EURGBP - WEEKLY Chart calling for a reversal Eurgbp - weekly - Price dips into a weekly demand level after falling off the cliff weeks ago.. its only right we get a decent pullback if not a reversal.. lets see how this goes!
EURGBP reversed from resistance, potential drop!
EURGBP reversed off its resistance at 0.86826 where it could potentially drop further to 0.84819.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
WEEKLY EURGBP ANALYSISThis is my long-term analysis of EURGBP. It has completed 4 Elliot Wave impulse waves and is preparing to begin the 5th wave down to complete the sequence.
The Fibonacci retracement from WAVE 1 rejected the 61.8% level, showing the trend is strong. Therefore my target for the end of WAVE 5 and completion of this trend/sequence is at the 161.8% level (0.8454). If I had to guess a time limit on this I would say 3 to 4 weeks.
I would then expect a correction wave.
Happy trading!
Joe
EURGBP 4H SHORT IDEAAccording to the Fibonacci retracement tool, there will be a retracement up to between 0.8608 and 0.8623.
My Short trade idea is to catch the next leg down of this downtrend.
TRADE INPUTS:
ENTRY: 0.8608
STOP LOSS: 0.8630
TAKE PROFIT: 0.8560
RISK: 22 PIPS
REWARD: 48 PIPS
RISK:REWARD RATIO: 1:2.18
I have longer term analysis for this downtrend which I will also post. This trade is just to catch a shorter-term leg down.
EURGBP Decline likely to continueThe EUR/GBP currency pair will most likely continue to edge lower during the following trading sessions.
However, the currency exchange rate could make a brief upside movement in the shorter term.
EURGBP potential reversal!
EURGBP expected to rise up to 1st resistance at 0.86918 where it could potentially react off and drop down to 1st support at 0.85830.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURGBP analysis | Still free falling? Or finding support?Massive movement to the downside with EURGBP after a big move like this I like to let the dust settle for a bit before jumping into a trade. is 0.86 holding as support? It seems like it for the time being. Remember patience is key with forex, there is always another opportunity to take a trade no reason to rush into anything when there is no clear direction.
For my full market break downs and trades click the link in my bio! Feel free to message me on instagram anytime if you ever need help!
EURGBP potential reversal!
EURGBP expected to rise up to 1st resistance at 0.87170 where it could potentially react off and drop down to 1st support at 0.86278.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURGBP - Get ready for buysANALYSIS ON EURGBP
Welcome to my analysis
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2 Hour Chart
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Interesting Point of interest In the EURGBP pair.
- Price still below 200 day EMA.
- Expecting more downward momentum.
- MACD showing bullish divergence so watchout.
- Bottom for BUY
Stay Tuned
