Eurgbpsell
Finding Well Known ResistanceWaiting to see the GBP Construction PMI. If they come out with strong numbers, then this will fall like a brick. EUR is coming out with Core CPI Flash Estimate y/y and CPI Flash Estimate y/y. They do tend to move the market. Keep an eye on this pair after the release. My rule of thumb is, i'm never trading on the wrong side of 10EMA, and never going into a reverse position, if the current daily candle stick hasn't exceeded the previous day.
EUR/GBP 4H Wedge Trade (Feb 27, 2017)The Euro has been losing ground across all of its pairs. With UK yields at a possible area for a buy I'm assuming a short position on the Euro / GBP cross. There are multiple layers of confluence on this trade which stack in my favor of bearishness. Pivot area, .85000 whole level, bearish engulfing bar, fib retracement, etc.
Possible 3R
EURGBPExpecting weaker euro and possible stronger pound. Wedge could be broken up, but it seems unlikely because upcoming referendums later this year. Price could found support from lower trendline and at 0.8300 support level.
Wait For The ReverseIt just broke resistance at 0.84780 yesterday and is now slowly moving up again. The previous uptrend (green line) is the new high, which I think it will be bouncing of and reverse in a day or two. MACD is forming a negative double wave, which often signals buying power is weak and it will continue negative.
EURGBP Might be Trying to say somethingOver the past couple of days we've had some mixed feelings about eurgbp but so far i think shes giving as much signals as possible , if indeed we are to break out , the day is today (I have to admit it though , that uptrend force is scary to think about while short at this pair , but oh dear trading wisely is the key.
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*
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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.
EG shortpic should be pretty much self explanatory....the h&S also coincides with the overall direction on the higher time frames.
EURGBP #H1 Bearish Cypher - ShortCompleted Bearish Cypher
Entry: Next Candle Opening or 0.8520
SL: 0.8591 (-70)
TP1: 0.8437 (+83)
TP2: 0.8386 (+135)
