The outlined white arrow pathway is the predicted pathway that the EURGBP will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at HIGH PROBABILITY turning points where EURGBP will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS...
EURGBP is showing a downtrend lately on daily timeframe, we are looking of a possible to enter a short position if our trendline does not break, we also saw
some rejections on our resistance (keylevel) at 0.84728 which confirms us for a possible sell till to our next support at 0.83373
After a long Bullish moves, the uprise has stalled and slowed down. Price has start to create a Lower High and tried to break the Support (magenta zone) yesterday.
However, be cautious as the price can still go upwards. We merely trade WHAT WE SEE, but the market forces is beyond anyone's control.
EUR must weaken or GBP must strengthen in order for EURGBP to...
I developed what I believe is a foreseeable resistance and Support Zone on the 4 hr chart. Using proper money management should allow you to with stand any more bullish spikes. I would keep stacking positions if this pair rises in the next 48 hours.
Remember to only risk 2% of your account per trade to make sure you're not completely taken out the game.
now we can see the beginning of a potential double bottom chart pattern at the 4h chart on EURGBP at a support zone.
This will give us a good reason to go long and trade the double bottom reversal.
A trend reversal is also posible so I will open 3 positions with 3 different top ups.
I wish yo a good trading week.
EURGBP long on 4H chart
With a higher low as last week and a strong correction after new over a possible Brexit deal
we have now a good buy option to go long with small risk.
So let catch this move.
wait for priceaction to show it's path and be patient to enter the trade. if priceaction won't show enough evidence of a down trend, don't enter. look for priceaction on the 1h chart. the EMA200 and EMA50 are slowly entering "the golden cross" which is a strong indicator for showing a big possibly change in the trend.
the trend is currently at a "fighting/...
it's near the mid line of the pitchfork and is going to complete an impulse 5 waves of elliot so we will have a correction there and as you know min for target of first move of correction is equal to 5 and ABC can correct 61.8 of all the impulse waves