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Please comment below and Like if you agree with my analysis.
(This trade was suggested to students yesterday 2017-10-19)
This is by far the most simplest technical trade of the recent weeks... This means that there isn't much to say that you cannot see on this chart.
MACD FAKE OUT
RSI MIXED SIGNAL
EUR FAKE RALLY
Here's what I'm suggesting :
ENTRY : 0.89898
SL : 0.90674
Keep an eye on the EURGBP daily chart as there was an important rejection from the 50% fib level that suggests more downside if the market can hold below that level. This presents the possibility of breaking below the previous low at 0.8738 and then moving much lower from there.
The EURGBP posted a long white candle and the daily candle suggests more upside.
Intraday Update: The EURGBP just hit the 38% retracement and near the 161% extension. As long as .8972 holds, this could be a good reversal level for the pair to move back to .8900.
End of Week Analysis: The EURGBP has rallied back to a confluence of fib levels. The 38% retrace, the...
i made my view on short tieme chart setup idea for next week
we can see eurgbo keep is support .
and after make a breakout of 1h chanel
then after make a small range and breakout again
but that i seen is the wedge on RSI and i think we have to wait a breakout of the rsi wedge for see a real next move
Both eur and Gbp have polical problem
one is brexit...
on a daily chart i see a bullish rsi divergence
eurgbp keep is strong support at 0.8750
the german cpi was good enough for support the eurusd thzn i think he will stay strong enough same as gbpusd who is strong too
but i enter on this trade for eurgbp that keep strong support for 2-3day + the daily rsi bullish divergence so i play the rebound
*my target is 0.8662...
We have a bullish Gartley setting up on the EURGBP with an entry that aligns with previous structure.
There is nothing bullish about the Pound, and if Mario Draghi fails to specifically address the exchange rate/detailed monetary policy again tonight then we should see further upside to this pair.
All the best,
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...
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: sales position below 0,8960 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8960, aim for a continuation of the increase with 0.8995 & 0.9035 in line of sight.
Comment: The RSI is misdirected.
Our preference: sales position below 0,8995 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8995, aim for a continuation of the rise with 0.9035 & 0.9080 in line of sight.
Comment: The RSI is misdirected.
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.