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Eurgbpsignals

EURGBPAs I said last weeks...I will continue to follow BUY until the area 0.88950 but first I will wait for another rejection in the area of the trend line from 0.86400 ...did not reject from the trend line and closed just below it which makes me think of SELL to the Fibonacci area 786 from where in case of a rejection for at least 1 day I will search again and BUY to the area 87500 and even 88900 THIS WEEK ...EG is in a zone of consolidation and range between levels 618 and 786 Fibonacci but as the trend line shows it is an upward trend! this week I will look for BUY up to 0.87500 as long as it does not close for 1 day below the trend line that overlaps above the 786 Fibonacci level NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
by BloomFX_SIGNALS
EURGBP | Perspective for the new week | Follow-UpWith over 350pips in the kitty, the price continues deep lower in our favour since my last publication on this pair (see link below for reference purposes). As the tendency for price finding lower lows increases, I suspect that the Euro risk a further decline in the coming week(s) on the back of the Pound finding "better days"! In this regard, a very simple set-up here-in reveals a short-term trading opportunity we can take advantage of. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Buyers loose the grip of pushing the price higher from Demand level GBP0.87500 mid Feb 2021. ii. Breakdown of Key level @ GBP0.87500 followed by a rejection of this level last Friday with "shooting stars" pronounces a the strength sellers have at this juncture in the market. iii. Bearish Trendline: The line drawn over pivot highs (Pivots I, II & III on the chart) reveals the prevailing direction of price action. iii. I am expecting the recent lower lows to transpose into an ABCD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg at 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ GBP0.84500 area. iv. In the coming week(s); the GBP0.86750 level will be regarded as a yardstick to maintain my Bearish expectations on this pair. Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:5 Potential Duration: 7 to 12 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
9
EURGBP | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair enjoyed 135pips run in our direction before the rally. Now - Since late December 2020, the EUR/GBP has been rangebound between roughly the GBP0.91150 - 0.89500 level and emphatically respecting a channel. Despite most quarters supporting the appreciation of the Euro considering the unfolding of the pandemic after which Covid-19 concerns in the UK led the country into a stricter lockdown last week... I am looking the opposite with a possible risk of further decline as price breaks down key level @ GBP0.90200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. The inability of price to break above GBP0.91000 level since Dec 2020 insinuates that buyers might have lost the momentum as we witness a Breakdown of GBP0.90200 last week. ii. Since Breakdown of Key level, a rejection of this level will be my lead in the coming week. iii. A further Breakdown of Demand zone @ GBP0.89000 with significant candle shall increase my confidence in holding the sell position. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
EUR/GBP and The Elliott Wave PatternHere's an hourly chart of EUR/GBP, which started to make the bullish Elliott wave pattern. The ABC correction is remaining. The 2nd wave is 23.60% of wave 1. The 3rd wave is more than 161.80% of wave 2. The 4th wave is 38.20% of wave 3. The 5th wave is 61.8% of wave 4. In the ABC correction, A is 61.80% of wave 5. B will be at 50% or 61.8% of A, so the targets for B is 0.91250 - 0.91370 , and if it crosses 0.91370 , the next target will be 0.91590 . After that, the trend will fall to make a C, and the targets for C are following 0.91380 - 0.91160 - 0.90458 .
by forextidings
1
Ending Diagonal pattern and uptrendThe formation of a probable Ending Diagonal pattern and the possibility of the advent of a very large uptrend is existed. The first ascending wave from the 3rduptrend is completed in the range of 0.9291, and the price in a corrective movement of this trend at the end of the C wave from the ii point is completing the Ending Diagonal pattern. There is a scenario that we initially have the formation of a very short and temporary downtrend to the range of 0.9000 to0.8990 and then in continuation with a quick momentum the price hit the targets of 0.9500 area. * It should be noted that, if the price can cross the range of 0.9163, the uptrend formation is confirmed and the Ending Diagonal the pattern is completed in the range of 0.9008. ** The analysis will be included in the daily chart soon.**
Long
by NirmataFX