Waiting to see the GBP Construction PMI. If they come out with strong numbers, then this will fall like a brick. EUR is coming out with Core CPI Flash Estimate y/y and CPI Flash Estimate y/y. They do tend to move the market. Keep an eye on this pair after the release. My rule of thumb is, i'm never trading on the wrong side of 10EMA, and never going into a reverse...
It just broke resistance at 0.84780 yesterday and is now slowly moving up again. The previous uptrend (green line) is the new high, which I think it will be bouncing of and reverse in a day or two. MACD is forming a negative double wave, which often signals buying power is weak and it will continue negative.
Over the past couple of days we've had some mixed feelings about eurgbp but so far i think shes giving as much signals as possible , if indeed we are to break out , the day is today (I have to admit it though , that uptrend force is scary to think about while short at this pair , but oh dear trading wisely is the key.
EURGBP AT this point is one of those ,= HEAD AND SHOULDERS + TRIANGLE + BREAKOUT FAIL + TRENDLINE = ALOT OF SIGNALS IN 1 CHART
I AM A GOLD TRADER, but this pair caught my attention as it reminded me of a previous chart i posted 3 months ago on XAUUSD which made profits, and similarly EURGBP looks to be very similar. If you look at my previous idea, on a weekly chart you will see the similarity in price action which i am speaking of and understand what i am stating. EURGBP: - Looks to...
Eyeballing the immediate trend remains bearish since November made new lows. This is further illustrated with our models signaled up meaning we may be preparing to rally. At this moment market is still in a downtrend looking at the weekly level. The last high is marked in the first week of October, we remain below key support and resistance is now at 0.84200. On...
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
EURGBP Respecting the trend line. Looking for buy setups
Our previous analysis on shorting EUR/GBP was correct. Now, we need to pay attention to this support zone. If the price manage to break the support zone with strong strength, wait for pullback and short for it :)
Expecting possible trend breakout. Stronger pound and weaker euro will support this idea.
We need to monitor this trade closely. There are 2 potential setups: 1. The price pull back to the resistance zone near 0.87xx and wait for bearish signals to short 2. Zoom into H4 Chart and look for bearish signal to short. Trade with right risk management as the current risk/reward is only 1.5. :)
EG still wait for break grey-line. if EG can't breakout, We still no order here. Use Sell stop @H1 for jump in.