we have the head and shoulders pattern and we're waiting for a momentum candle close below to enter a sell trade
Here's an hourly chart of EUR/GBP, which started to make the bullish Elliott wave pattern. The ABC correction is remaining. The 2nd wave is 23.60% of wave 1. The 3rd wave is more than 161.80% of wave 2. The 4th wave is 38.20% of wave 3. The 5th wave is 61.8% of wave 4. In the ABC correction, A is 61.80% of wave 5. B will be at 50% or 61.8% of A,...
EURGBP drops to 0.9112 during the pre-London open on Tuesday. Even so, the quote keeps the 20-pips range established above the 0.9100 since early Asia. While recovery moves ahead of the short-term key support line favor EUR/GBP buyers, the pair traders await the latest employment data from the UK for fresh impulse. Although forecasts suggest a downbeat scenario...
There is Two Possible Scenarios on the Table. and Depend on the Brexit Negotiations each one is Possible. So Stay Sharp. I myself put a Sell Stop at the suggested region. tell me your idea about this pair.
Here's the 15m chart GBP/USD. The current trend is upward but falling here for a short period. But if it decreases up to 0.1951 , then it will touch 0.1936 . But if it does not knock 0.1951 , and take reversal, then the trend will hit 0.9200 .
Here, showing an uptrend of EUR/GBP. It's in the making process of three peaks pattern. Two peaks are completed, and the third one is remaining. If the trend breaks the support line, then the stop loss will be 0.8986 . But if it does not break the support line the targets for the third peak are 0.9100 - 0.9136 .
Eurgbp is setting up for a sharp move to the upside watch lower timeframes to buy
Since mid-September top at 0.93, EurGbp's evolution has been very frustrating, with one day up, one day down, 2-3 days down, then reverse strongly, etc The pair managed to drop almost 500 pips in this manner, but trading it was more of a gamble... Now I think Eur finally reached an important bottom, support that acted as resistance/support all 2020. The pair broke...
You could short this now but probably best to wait for break and retest of the support zone
EURGBP DAILY CHART If you found my analysis useful, you can support it with your likes and comments.
The counter has been in a steady decline for the last 3 months. Now, it has hit a strong support level which could trigger some profit booking. Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone. Hence, we expect the pair to be bullish in the short-term.
still a newbie ;) my thoughts on EUR/GBP what you guys think? EDIt*** HIGHER STOP LOSS
Prerequisites to the bounce: Increased ATR. Two days fall down. Mirror level ahead. example how a false break out works:
Looking at a 60 pip rise on EURGBP . Price is currently situated at the 0.368 fib level, alongside this we also have an intersection of two trends. The trend line showing bullish momentum i believe will have the upper hand due to the strength of the overall trend. Furthermore in perspective it is also forming a long term pennant , however due to the strong bullish...
The upside movement of the pair is capped by a bearish trendline. It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead. Hence, we expect the pair to be bearish in the near-term.