EURGBP Market Structure AnalysisR/R: 2.5
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Eurgbpforecast
EURGBPLOOKING FORWARD TO SEE A WEAKENING EURO DUE TO A STRONG POUND (GBP) 100PIPS
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EURGBP - Big Short EURGBP reached its August 2017 highs, Momentum on this market is weakening all across the bigger picture therefore i am seeing a trade to be setting up here, wait for the market to break the trend line to execute the orders.
Trade safe & Good luck everyone!
#EURGBP, Time to change direction!So far we have been long on this coin, it's time to change direction.
We are a few dozen pips from a powerful double top pattern in the daily graph that will surely lead some declines.
The Stochastic is also in Overbought with cross lines.
The pound against the dollar is on serious support which could accelerate increase very soon.
Target: 0.9050
When a bull flag breaks to the downside, you know what's coming.It's a short. EU rallied and failed badly at huge resistance. it's highlighted by the blue line at the top. it didn't even touch and failed just below it. I've managed to enter at 0.91652, but one can still enter short positions at 0.9130-0.9135 range. downside will be huge.
#EURGBP, The trend continues with a very weak poundThe eurgbp above the important moving average lines (200,100,50).
The above upward trend has been going on for about 3 years and there are no technical signs of a change in the trend.
The eurgbp crossed its resistance this week at 0.9038 and is on the way to test its next resistance at 0.9284
Target: 0.9284.
EURGPB retest EURGPB as we have seen has made new high for the month as we come to an end. Price has failed to break the region of 0.91850 which is the daily resistance.Anticipating this pair to retest the area of break (target 1) which if you guys notice there is a perfect head and shoulder pattern on the h4 time frame. Target 1 to the downside needs to be fulfill.
eurgbpthis analysis is showing both ways warnings! so with evolving and every new information and move that the market is making we can read the intentions but everything can change, so ill try to explain euro pound here.
on daily tf is showing big divergence and is at the daily resistance and after the first motive 5 wave structure we can take all that (white correction) as a corrective running or expanding flat and naturally we r going down...
well not so fast...
here on the chart im seeing a three wave move down ( red counting ) which implies on correction and not on motive for change of direction. that strong move up may turn in to B structure of the correction, so as iv said, as shrodingers cat until we get more info we cant know whether trend is dead or not ;)
p.s. divergence is not always showing change of direction, some times its only a correction before continuing. as shown with yellow lines!
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EURGBPThe pair finally looks ready to move lower. We have printed a sizeable red candle yesterday at a very strong area of resistance and we see a clear RSI divergence marked by the purple arrows.
What Im looking for to enter this trade is something like this (check below 4H chart)
#EURGBP Analysis+SignalSell signal:
The stochastic indicator at the highest level (warning of an optional trend change).
The eurgbp is close to the resistance at 0.9040 (sell close to re
Target: 0.8780
Next Key Levels for EUR/GBP Per Investing.comThe cross is receding 0.06% at 0.8978 and a break below 0.8948 (21-day SMA) would expose 0.8872 (low Jun.20) and then 0.8826 (low Jun.5). On the flip side, the next hurdle is located at 0.9010 (monthly high Jul.10) seconded by 0.9062 (low Jan.11) and finally 0.9092 (2019 high Jan.3).
FREE ANALYSIS ON EURGBP - MASSIVE FALL COMINGFREE ANALYSIS ON #EURGBP
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15 Min
Price just broke down my 100 WMA and 150 EMA. Price was rejected at the top trend line. MACD and Stoch RSI showing bearish divergence also.
1 HOUR
Buys still in the Market so be careful MACD & STOCh Rsi both showing bearish divergence. Price above all 3 MA's. Best to wait for break in black trend line
4 HOUR
We are in the sell region and price also forming a flag. Expecting drop soon. MACD again showing bearish divergence.
OVERALL
Bearish Outlook expecting the bearish momentum to continue
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EURGBP reversed from resistance, potential drop!
EURGBP reversed off its resistance at 0.89935 where it could potentially drop further to 0.88725.
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