Looking at taking a SHORT position on EURGBP.
1) Strong bearish trend, nearing a touch of the 4HR trend line.
2) Good level of support at 0.91200, with fib level just above, this correlates well with the trend line too.
3) Looks like we have some bearish candles forming on the lower time frames (possibly a hanging man)
As always I will wait to see how price...
In this analysis, we see that Euro is more weakness than Sterling Pound and investor are buy Sterling Pound in the cheapest level i you trade GBP/EUR to buoy, but we use EUR/GBP to short!!!
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We see in H4 timeframe a possible descendent triangle that mean a sell on Euro!!! Also, we expect that the next fundamentals will be posiive for Sterling Pound in what we...
Smart money keeping their sell stops protected below this institutional level. We'll see a strong retracement by the GBP and EUR in unison to this level but fail to break any higher. look for the the exit at the -%127 level which is also a support level for the time being.
As we can see from the daily candle, we managed to see multiple retest with rejection off the resistance zone (red area) with BEARISH strength seemingly showing more strength. Today's candle show another retest to the resistance zone with a nice rejection and what I will be seeing is a BEARISH going to take over soon, pushing price towards the support zone (green...
Eurgbp is seen currently in a parallel channel and a rejection f the upper trendline should trigger a fall to the opposite trendline.
I am expecting a fall in price for Eurgbp with the invalidation level as seen on the chart
Bearish continuation
TUESDAY, 6 Oct 2020
#EURGBP SELL
ENTRY = NOW at 0.90700
SL = -40 PIPS
TP = +110 PIPS
Disclaimer On
PLEASE USE YOUR OWN MONEY MANAGEMENT RULES
Your Money is Your Own Responsibility
Eurgbp uptrend channel is ending soon, final wave has been completed on eurgbp now its ready for a trend change
Watch price action in lower timeframes to add sell positions
Hello Traders,
Here is the Top-Down Analysis of EURGBP (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 05 Oct
M > Price is in a strong structure within monthly resistance and support zones. Price moved up to test resistance zone, faced rejection and then started downward move.
W > Price created a W formation and dropped to test the...
Price is testing the 0.9088 level. We've seen price trade both above and below this level since mid-July. Based on the current price action, we're observing weakness on the upside. Here's the run down on the two labels:
1. Price previously held supported and broke below this level. This has trapped quite a few traders who have shorted this break lower as it...
In this analysis, we see that Euro is fails and we could see another short opportunity in this par.
Based in my supply and demand strategy, we see a drop considerable for the Eurozone, that support Sterling to buoy in the cheapest levels if you trade GBP/EUR inversal of EUR/GBP
Basically, the Germany economy's is in issue and that could put an Euro weakness...
EUR/GBP is ranging inside of a downtrend channel, it has also bounced off from a strong resistance are. We are opening a beautiful sell position from this are.
Sterling Pound is a lot optimistic agains the Euro. We expect that Sterling Pound it's appreciated for the good speculate news about the Brexit!!!
Now, it's very important to read always fundamentals, becuase if you not read fundamental, we don't know any of it!!!
Now, in summary the trend is bearish, becuase Euro has bad news agains the Sterling Pound and we...
