Euro is ready to go lower due to the fact that price bounced from resistance level and fell to support zone, price can break it and continue downtrend.
Euro’s value against the British Pound has been in the yellow trading area for quite some time. Well, since March, to be exact. It is now time to shine for the Euro and make gains against the Pound. In the long run, the Value should soar above GBP 0.92916.
Be patient!
The instrument is in the ascending channel.
It goes beyond the support level, which indicates a bullish market sentiment.
I look forward to growth after consolidation to the resistance level - 0.861
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Price has rejected the resistance level quite harshly. I was expecting price to create a head & shoulder pattern but it broke straight through the neckline. Hopefully a retest of the trend line can happen before a continuation to the downside
The price has bounced off the support level and is heading towards resistance. My target is the resistance zone - 0.859
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Summary: Fed Chair Powell managed to surprise the market somewhat during the press conference with clear guidance on an imminent start to QE tapering, but the market reaction was fairly muted, with the action overnight and in the European session today suggesting the Evergrande story is still the hobby horse of market attention at the moment. Elsewhere, the Bank...
The overall trend is ascendant. The descending wave pattern of the H8 level is truncated. There is a bullish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator left the oversold zone. The inclined channel of the descending pattern is broken through.
Trading idea:
Buy on the breakout of 0.8553 (when the ascending wave...
Here is our technical view for EURGBP.
Our analysis is based on fundamental & technical metrics.
According to our drawing EURGBP reached a strong supply cluster.
Based on our view the price will go lower
to the next support level.
Please, support our analysis with like and comment!
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Hey traders,
EURGBP reached a major daily structure resistance yesterday.
Touching the underlined area we saw a sharp bearish move.
The price violated a rising wedge pattern to the downside.
Now I expect a decline to 0.8565 support.
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Good morning one and all.
So I didn't place any trades yesterday to a large extent because there were some volatility spikes that occurred across the board yesterday and in my experience price will often come back up or down to fill such spikes before it can continue in my forecasted direction, which in some cases appears to be what's now happening. So once again...
The Euro vs the British Pound. This pair represents a cross between the two largest economies in Europe, the Euro Zone and the United Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
FXCM