Price is consolidating and testing 50ma and 200ma which is very possible the price can be bullish any moment, also alot of pullbacks from the support level, we could see more strong bullish candles with strong impulse. Our initial target is 0.8701 but I think there will be less chance of bearish movement in long run and the price could hit 0.885
Euro (EUR) / Great British Pound (GBP)
up towards 0.85054
down towards 0.84792
back up towards 0.85400
down towards 0.84586
up towards 0.84998
back down to around 0.84546
then should turn around and head back in its bullish direction
THIS IS NOT FINANCIAL ADVICE
If you have any questions or opinions about my analysis...
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It is obvious that the bullish trend line is broke and we speculate a bear market for EUR/GBP to its last support zone which is shown on the chart.
We must take this in account that this analysis is came from our attitude towards the market and its not a 100% fact,its just a speculation! We always set stop losses for our trades.
The bulls quickly took the EUR/GBP pair higher from a big support area (around 0.8550) on the four-hour chart above, taking it back to a fast bearish reversal point from last week (0.8635).
If the data disappoints in general, the bearish technical signal may trigger a short-term bearish reaction on EUR/GBP. With a regular ATR of about 50 pips, a switch from...
As long as the price is above the support 0.88600 it is very possible to see the continuation of the bullish move.
BUT, if the price goes down below this line, then it is better to get ready for sell trades.
Well that's what I think.
Short Euro right now if you're interested in having patty cakes for breakfast. I'm incredibly bullish on Euro at the moment as it's broken above a bearish trendline from 2008. It's evidence to me this momentary consolidation on euro as it's breakout has recently just confirmed validates that it'll continue to see quite the massive upside from here. While there may...
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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
Trend has been bullish since July 13th.
We are waiting to break and close above 0.9120 to enter a long term trade to the upside and reach to the monthly high in March.
The break out means we are getting back into the channel.
Set your alarm and wait patiently for a break. No break = no trade!
. There is still a possibility of temporary retracement to suggested resistance line (0.8975). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURGBP is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...