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GBP-EUR

GBPCAD// Rising WedgeReasons not to enter....yet: 1.GCAD is currently on an area of strong support. 2. GDP Data for Canada will be released tomorrow and its expected to be bad. Bad news for Canada = Appreciation of GCAD. 3.Price has respected this this lower trend line multiple times. Price has printed a rising wedge. Bullish, but bearish in nature. We should expect a break at any moment however, there isn't a clear indication that price will continue to fall. Looking at the Weekly, we can see price is currently pulling back and the last broken structure is at the 61.8% level. If price does break the wedge, we can expect strong weekly support around this level. Let me hear your thoughts.
by N0ST0PL0SS
2
EURGBP: Trading Opportunity for US Session EURGBP is trading within a strong falling parallel channel on 4H. Its resistance has been reached recently and on that, the price formed a bearish engulfing candle. On hourly, the price is currently ranging. 0.8775 is the support of the range. To catch a bearish move with confirmation, wait for a breakout of its support (hourly candle close below), then sell aggressively or on a retest. First goal will be - 0.8755 In case of a bullish breakout of the range, the setup will be invalid and bias will be bullish!
Short
by VasilyTrader
14
EUR/GBP Daily: Scope for a test of the 0.8815 Fibonacci retThe pullback from 0.8900 is pressuring critical support at the 0.8830 weekly low of 21 January, where oversold intraday studies could prompt short-term consolidation. Daily stochastics have ticked lower, however, and the Tension Indicator is flattening, highlighting a deterioration in FX:EURGBP sentiment and scope for a later break. A close below 0.8830 will extend broad September losses towards the 0.8815 Fibonacci retracement, where fresh consolidation could unfold. However, weekly charts are turning down, highlighting risk of a later break and deeper losses towards the 0.8690 low of May 2020. Meanwhile, a close above 0.8900 would help to stabilise price action and put prices into consolidation below 0.8950.
by Continuum_Economics
ridethepig | Best of 2020A Year in review...there is definitely something to be learned from reviewing old charts. The foundations of the year were laid in Q419/Q120 which became giant pivots in the flow. It would be wrong to talk about the new dogmas without ✅ the old ones. So,lets get straight in... 📌 Best of G10 FX... GBPUSD from 1.35-> 1.15 EURUSD from 1.09 -> 1.20 📌 Best of EM FX... USDTRY completing the +30% swing towards 7.8 📌 Best of Volatility... VIX +600% explosion from 12 towards 85 📌 Best of Commodities... The collapse in Oil 📌 Best of Equities... DAX annihilation 📌 Best of Yields... Tick lows in NZ10Y 📌 Best of Macro... The end of an economic cycle 📌 Best of Crypto... BTC breaking out on the log chart 📌 Blunder of the year... Covering $PTON too quickly In any case.... Wishing all a very happy, healthy and prosperous New Year... @ridethepig will be staying up late tonight to make sure we leave 2020 behind.
by ridethepig
28
ridethepig | G10 FX Christmas Chartbook 🎄 @ridethepig | G10 FX Christmas Chartbook 📌 USD - devaluation continuation is the name of the game ...the breakdown is cooking; Biden has turned dollar into an awful shelter. Look for cover elsewhere, a 'digital dollar' could also be a beautiful political manoeuvre in which we may see the transfer of whole equipment from West to East. Needless to say, the centrepiece to the FX board is looking a lot less convincing as we end the year compared with how we started. 📌 EUR - bridges are building ...eurobonds entering into the picture has been decisive, debt mutualisation is a necessary component for the currency to survive and Coronavirus was for Merkel what Britain was for Alexander Hamilton. Political bridge building will provide a nice shelter for the coming year(s) and the bias is to remain long EUR/USD. 📌 GBP - is also playable of course ... and should be one of the better isolated macro trades here. While Johnson has managed to provoke Biden, he has lovingly moved away from no-deal via Trump back to secured the 'deal' with Europe. The subordinate Johnson deal will not really be considered better by anybody in the ST and is unlocking a leg lower in GBP assets. The only prevention for the annihilation manoeuvre, as has already been pointed out, comes from the dollar devaluation which can enter into play sharply into 2022. This is an instructive example of balancing a portfolio. 📌 JPY - "if it aint' broke, don't fix it" ...the West have a lot to learn from Japan when it comes to understanding how to deal with the issues surrounding private debt from 1991. Of course, you are right to say well @ridethepig the West didn't let asset prices considerable weaken, sure, but this is why growth fizzles out. Japan knows the problem is terribly restrictive and must sacrifice fiscal policy. Paying down on private debt with wonderful imaginative gifts while using Government spending to continue the money supply flows. A risk-off inversion is/was the only way to avoid deflation and the 30 year gap is now plugged with experience. 📌 CHF - "SNB have played skilfully" ...in order to protect the currency as best it can, the CB has been granted a chance for some more direct action at 0.870x. And in the meantime, with a WhiteHouse dependent on Fed resources and conducting desperate struggles for its own existence, dollar devaluation is opening the waterfall towards 0.780x if the pivot would fail. 📌 AUD - "Commodity shortages and supply restraint" ...the prognosis for the Aussie seems quite good (and for other commodity currencies NZD and CAD more broadly). The barricades from global government have managed to disrupt supply chains and in this game, because of the relationship the Australian currency has with commodities, a test of 0.80c is needed. 📌 NZD - "keep an eye on RBNZ" ...the dollar shorts across G10 are mobile but here I must say NZD is my least favourite of the commodity currencies. The blind spots to this come from RBNZ bringing debt:income measures generally back into play, which is not helpful for credit and will potentially unlock threats of negative rates once more. 📌 CAD - "the taxing neighbour" ...is leading to direct inflows into Canada. A Biden sweep in GA is grounding the manoeuvre for the outflows, the soundness of which will give us the chance to park capital for a few quarters at most. Losing 1.280x for the yearly close is sufficient that we are able to work out the waterfall towards 1.20xx. Stay short USD versus CAD into 2021. 📌 SEK - "Classical manoeuvring" ...a very good year for SEK after the initially softer start, it rallied aggressively alongside NOK. The main line in SEK at 8.2x is within touching distance. 📌 NOK - "more volatility to come" ...with a strong indication from models to buy both NOK and SEK. Commodity shortages (including Oil) can no longer be staved off. The successful penetration of 8.7x support will unlock a -12% waterfall for 2021. =================================================================== These materials do not constitute an offer or a solicitation of an offer to buy or sell without the prior investment products or securities, including security- based swaps. These materials are provided for information purposes only and do not contain all of the information that is material to an investor. ===================================================================
Long
by ridethepig
7
EURGBP: Catching Bullish Swing EURGBP has broken and closed above a resistance line of a major falling channel on a daily. The area between the last lower high and a broken channel's resistance now serves as the major demand zone. Yesterday the price has retested that and we saw a positive bullish reaction. From that area, a strong bullish wave will be expected. The next goal for buyers is 0.9128 For intraday traders, the best option is to look for an entry on a lower time frame (4h/1h)
Long
by VasilyTrader
15
GBP/EUR - LongPrice has returned to the support level of the ascending channel. Previously, the price has rejected at this support line and turned bullish towards resistance. currently, the price is touching on the 200 day EMA. If price holds at the 200 EMA and the bulls come into play, I believe we could see some bullish momentum for GBP/EUR towards the 1.270 level (an area of previous resistance). Before I enter a long trade, I will look to see if the price holds at the 200 EMA and then look for rejection at the support level by looking for closed 4JH bullish candles. GBP has been volatile recently, so this trade should be taken with caution, knowing that fundamentals could come into play and cause unexpected movements.
Long
by francesgurton
Thanksgiving Forex Trading Strategies -Entries and Setups Please watch my other videos to fully understand my strategies! Like the video if you want DAILY setups like this. This morning we will be taking a look at how I will be looking to day trade these currency pairs on the foreign exchange market, Forex. We will also look at the strategies that I will use or utilize for entries and exits according to my trading plan and strategies. All advice and analysis is discretionary and should be taken at your own risk. I am not liable for any losses you decided to take. These strategies can help produce an income through day trading Forex and make significant income if the proper risk management and trade management plans are followed for a consistently sustained period of time. I use a combination of market structure, price action, and confirmations to enter the market at exact times.
by A-Traders-Journey
1