In the name of Allah, the Most Gracious, the Most Merciful.
THIS IS RISKY TRADE SO TRADE ONLY IF YOU CAN TAKE RISK.
SELL EURGBP : 0.84100
1st Target : 0.80660
2nd Target : 0.77209
Stop loss: 0.86841
Risk: 271 pips, Reward: 691
USE 0.01 LOT ONLY.
IT IS HIGHLY RECOMMENDED TO FOLLOW RISK MANAGEMENT STRATEGY.
HOW TO TRADE ON OUR SIGNALS.
We Explain above you...
Tendency: Temporary Uptrend ( Bullish )
Structure: Bullish Rectangle
Observation: i. Price rally sharply (Impulse leg) and then enter a period of consolidation within horizontal support and resistance level between (3rd Oct. 2016 - 2nd Dec. 2019).
ii. The series of bounded fluctuations explain the...
EURGBP
Constantly Pushing lower, looks like EG might be able to sustain below 0.85 we need to let this play out for now but it is looking really interesting. I am favoring a retest of 0.85 where we will either bounce or break.
The EUR/GBP currency pair will most likely continue to edge lower during the following trading sessions.
However, the currency exchange rate could make a brief upside movement in the shorter term.
EURGBP reached its August 2017 highs, Momentum on this market is weakening all across the bigger picture therefore i am seeing a trade to be setting up here, wait for the market to break the trend line to execute the orders.
Trade safe & Good luck everyone!
TECHNICAL ANALYSIS
EURGBP bearish bias drifts toward the 0.848 psychological lower price range.
EURGBP downside price action wave is expected to stagnate at the 0.848 price support (Ss) as signalled by MACD in subsequent trading sessions; a signal for possible long entry opportunity.
EURGBP
Looking like we could just melt to the downside. I feel we could push down about 40-60 pips then we could see price reject off support and immediately push back above 0.85
Note : falling wedge pattern --> breakout --> wait for the price to bounce off the trendline support --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
EURGBP
Still floating around 0.85 we could be seeing a really good long trade soon. I feel price could dip a bit lower under 0.85 before reversing to the upside. So I will be waiting patently for now.
A Stochastic indicator on line 7 signals the end of the declines.
The RSI is also very low on line 40, almost at the level it had in April when the eurgbp rose from 0.85-0.94.
The support line at 0.8520, 100 pips lower than the current price.
Buy in the support line area with a target of 0.8720 or buy now with the same target price (slightly higher risk)
After EURGBP tapped previously anticipated key level 0.85 I feel we could be seeing a reversal in trend soon. A bit too early to tell but this pair is shaping up very nicely.
In short-term EUR/GBP remains neutral at this point. Another decline is mildly in favor as long as 0.8676 resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support.
Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring...
Intraday bias in EUR/GBP is turned neutral with a temporary low formed at 0.8521. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, our first target is 0.8630/50. A break of 4-hour 50 SMA and yesterday's high around 0.8680 will indicate short-term bottoming and bring stronger...
In as much as we are having downtrend overview on this pair (see link below for the last speculation on this pair), A counter-trend possibility we can take advantage of is building up. See plan below
Tendency: Temporary Uptrend (Bullish)
Structure: Falling Wedge | The Three Drive Pattern
Observation: i....
Massive movement to the downside with EURGBP after a big move like this I like to let the dust settle for a bit before jumping into a trade. is 0.86 holding as support? It seems like it for the time being. Remember patience is key with forex, there is always another opportunity to take a trade no reason to rush into anything when there is no clear direction.
For...
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