I entered this trade on Thursday around 11:30am an hour before GB budget news was released but I anticipated that it would make a downside turn after it failed to hold momentum when it aimed to make a second top. Still time to enter to hit TP 1 as the RSI is at 51. possible bounce back up to 0.7778 expected before a continuation to the downside :)
MACD is showing bearish divergence and RSI is around the oversold. We have 1.272 extension, previous resistance area and a trendline, all pointing towards the downside
Studies stretched on EURGBP and signs are we're headed lower. SHORT from .7875 STOP .7887 TARGET .7757
FX:EURGBP CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Safe Trades;
On Friday selling EUR/GBP looked a good thing. Price had fallen out of the up channel it was in and had re-tested the channel and failed to break back.. With RSI overbought I was happy to SHORT this pair down to lower levels. Mondays open saw GBP weaken quite dramatically and even with EUR/USD falling this was not enough to move this pair south - a clear...
EUR/GBP sits at a significant level. Price is slipping beneath a confluence of 200 sma 50 sma and 50.0 Fibonacci on H240. This looks a significant move and a failure to hold .7740 could see this pair enter a long term down phase. I'm in this market from .7751 and .7743 with a STOP at .7790. Target for this trade is .7350 area (200 sma on Daily TF)
GBP is on a tear and EUR/GBP looks very vulnerable to further declines. I'm SHORT this market at .7751 with a STOP above the previous high at .7790. Target for this trade is the 200 day sma on D1 coming in at .7348 area
Pair remains uptrend, but it seems that a retracement will occur in the next hours. So it could be a good opportunity to trade short and long positions. Bear divergence (double top) and reversal bar pattern present, so the trade is already active (Really small risk)
FX:EURGBP BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Safe Trades;
Here we have a simple descending triangle break and retest with the trendline and fib as extra confluence
We have an excellent short setup here, the previous uptrend was broken and we are getting a nice correction below the broken trend line, trade with a good strategy and good luck!
(03/03/2016) 18.11pm GMT EURGBP : With a cross of the daily trendline at around 0.77500, look to go long (remember to use the shorter time frames 30min,15min to enter). Looking at targets of around 0.79200 with a risk of a return to the WeeklyTrendLine at 0.77000. If price bounces off the Monthly trend parallel Channel, Short after confirmation which will come in...
Daily chart shows a possible head and shoulders pattern forming. A break of the support line shows a good opportunity to short.
EUR/GBP ( DAILY ) RECOMMENDATION: BUY SUMMARY: The secondary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its daily chart. In daily chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7900 and support at the...
Timing is everything in FX trading and my previous attempt to SHORT this pair failed when prices pushed higher into the resistance zone. My analysis tells me we should be headed lower from here and with GBP putting in a mild recovery on some pairs we may see a shift in sentiment. I'm in at .7906 with a 23 pip STOP at .7928. Target initially will be the 200 sma...