We have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a...
Price consolidating inside parallel channel up and new uptrend line. If price keeps its move and follows this new trendline, an important resistance since 1995 at 0.9038 is really close.
After forming a fakey bar on the daily time frame, this Forex pair took me out of my trade just to have another price rejection in which I did re-enter again a long trade. For four trading days, this pair has been going on sideways which was slightly tempting me to close the trade at Breakeven,.. not closing it was a good decision. Plus I also noticed the inside...
Our preference: position bought above 0.8815 with targets at 0.8875 & 0.8900 in extension. Alternative scenario: in break of 0.8815, a continuation of the decrease will be envisageable with 0.8780 & 0.8760 in line of sight. Comment: The RSI is losing its bearish momentum.
Our preference: sales position below 0.8845 with targets at 0.8815 & 0.8800 in extension. Alternative Scenario: In excess of 0.8845, aim for a continuation of the increase with 0.8860 & 0.8880 in line of sight. Comment: the support sinking at 0.8845 triggered a bearish acceleration on the support at 0.8800.
Price broke out of bullish channel but however is in a range. I would like to see 0.87610 cleared to go short
Our preference: position bought above 0.8830 with targets at 0.8860 & 0.8880 in extension. Alternative scenario: in break of 0.8830, a continuation of the decrease will be envisageable with 0.8815 & 0.8800 in line of sight. Comment: A support base of 0.8830 was formed and allowed temporary stabilization
Suddenly found this nice long setup. Everything is looking almost perfect. Just a small retracement/pull-back needed. So, wait for the entry, don't rush. Patient will prevent you from getting hurt. My Facebook Page: web.facebook.com
Our preference: sales position below 0.8850 with targets at 0.8775 & 0.8745 in extension. Alternative Scenario: In excess of 0.8850, aim for a continuation of the rise with 0.8870 & 0.8900 in line of sight. Comment: The RSI is badly oriented
This chart is drawn basic of Triple Bottom shows a solid bearish opportunity for EUR/GBP.
For the past several days, the EURGBP pair has been trading on a descending triangle. As what the formation suggests, a downside is imminent from this day forward despite the spike up. I actually had a long setup at 0.86020 wherein an inside bar pleasantly formed just about the 200sma along with a huge bullish pin bar as the mother bar. I've drawn a second...
Upside Target 0.87569 ////////////////////// Downside Target 0.84345 //////////////////////