TARGET: 24 TP1: 0.87705, TP2: 0.87826 SL: 0.87237
Price Gave us a strong bearish engulfing candle on the retest of the broken up trend line. I`m going short.
EURGBP IS IN AN UPTREND AND CURRENTLY WE WANT TO SEE A PULLBACK AND A CONTINUATION OF THE UPTREND
EURGBP / REBOUND? No change from our point of view, the expected rally should be considered as a corrective structure (technical rebound), and then we expect a new bearish leg.
EURGBP now in multiple resistance zone. If Price Break then level then goes up for next target zone.
A pattern confirmed .. Tp1: 0.8869 Tp2: 0.8815 Sl: 0.8974
EURGBP Goes up for next resistance point
An inverted Head and Shoulders just completed on EUR/GBP as well as breaking the current down trend. Looks like a good opportunity for a long.
I think it will test higher low before moving up , this is a quick trade R:R 1.7 SL@.88243 TP@0.87501
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Buy around 0.8917-22 for a target to 0.9005, stop below 0.8891
This morning we saw a close of a Bullish Engulfing which was followed by a slight rejection just above the monthly resistance level of 0.89430 . The EUR has continued this fall this evening however it being a Friday can produce unpredictable signals, we may see that the Bullish Engulfing does prove to be a turning point of the short downtrend this afternoon...
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.
i can draw lines to an analysis i made last week about this pair which played out very well. this could be another chance to get an oppertunity to ride the wave with low risk
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...