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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