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Eurgbpsell

Double Top at Structure on EURGBP! May fill the gap?Hey guys, the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance. As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence. I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840). If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
3
Double Top at Structure! May fill the gap?Hey guys, the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance. As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence. I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840). If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
EurGbp Bullish and Bearish setupsEurGbp looks like it will perform a wave up when looking at the current structure and the indicators. However a break of the lower range will confirm a sell. So basicly EurGbp is showing options for a bullish or bearish entry. Personally I am with the bulls given the current structure and setup of the indicators. But I will sell if the lower range breaks. Since it can be traded both ways I give this setup a Neutral. Also alot will depend on the French elections that are being held this sunday. If the anti-EU "populists" don't win then the Euro will show a nice boost.
by JoshFX1
EURGBP right shoulder formingGuys..... For those who are trading sterling exposure, here is one to be looking at. Technically speaking, EUR/GBP began rolling over from a lower high starting in February. This may be the right shoulder of a head and shoulders top. Strong support at .83300 from the neckline, trend line and 50d moving average must be broken to confirm the top. We heard words out of Forbes yesterday implying the UK will be needing a rate hike in the coming months, this will be indicative for the waterfall event. She also believes that inflation is picking up faster than forecast. Our models suggest that Q1 2017 was a turning point for GBP pairs, this is going to be confirmed b a break below support suggesting EUR/GBP will fall to .7500.
Short
by TheBanker
9
EURGBP : Potential Short Is ComingHi Guys. I see now a potential Short position for this pair as it's now heading to Strong Key Level. Could be retracement or reversal so watch out the PA after short order is triggered. I can't see any targets for the short entry right now. After it's trigger than I can see the next move either a short retracement or complete reversal. I would put the order on the exact RED horizontal line. It could be touch and drop as it shown in previous setup on EJ and EU. We will see.. Good luck for your trade. Don't forget your MM and R/R consideration when open the positions. Happy Trading
Short
by scandicfx
EURGBP Short Opportunity I AM A GOLD TRADER, but this pair caught my attention as it reminded me of a previous chart i posted 3 months ago on XAUUSD which made profits, and similarly EURGBP looks to be very similar. If you look at my previous idea, on a weekly chart you will see the similarity in price action which i am speaking of and understand what i am stating. EURGBP: - Looks to be forming a H&S on a weekly time frame. -There also seems to be a gap at 0.81562 - The pair looks to be wanting to test a previous MAJOR resistance line, which will become future support (As shown on chart) Therefore, i am short. Target: 0.81562 Note *This is a swing trade, may take months to terminate* $$$$
Short
by selenk
UK supreme court will confirm T.May right to triger article 50 Eyeballing the immediate trend remains bearish since November made new lows. This is further illustrated with our models signaled up meaning we may be preparing to rally. At this moment market is still in a downtrend looking at the weekly level. The last high is marked in the first week of October, we remain below key support and resistance is now at 0.84200. On a broader basis monthly levels imply a rise in trend. Some caution is required with buys on this pair.
Long
by TheBanker
1