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Eur-gbp

EURGBP looking up 🦐 (Update)EURGBP on the 4h chart is moving upwards after the recent attempt to break below a weekly resistance. The market has now broken the minor resistance and according to Plancton's strategy if the Academy conditions will be satisfied we can set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
EURGBP rejected by a weekly resistance 🦐EURGBP on the 4h chart is moving upwards after the recent attempt to break below a weekly resistance. The market is now approaching a minor resistance and according to Plancton's strategy if the price will break and close above we can set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
EURGBP looking for a lower low 🦐EURGBP on the daily chart is moving inside a descending channel. The price after the retracement move to test of the resistance at the 0.87250 level has now reached the support and according to Plancton's strategy if the market will break below we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
7
COT CURRENCY REPORTAUD, NZD & CAD: The fact that the AUD is now the second largest net-short position among the majors does not really surprise given the recent string of negative factors such as the virus situation, slowing economic data in China and falling Iron Ore prices. This week we have the RBA policy decision coming up and markets want to know how stressed the bank has become given the recent challenges. It seems that consensus is expecting the bank to cancel their planned tapering that would have started in September, with more aggressive bets forecasting the bank to announce a higher pace of QE at this week’s meeting. Either way it will be an important one to watch for the AUD. For the NZD and CAD continued to move closer to neutral positioning. For the CAD this was hardly a surprise given the stretched positioning to begin with, but the NZD was a surprise with the currency not being able to take meaningful advantage of the most hawkish central bank among the majors. This week the quarterly employment data from New Zealand will be crucially important as it will be the last big ticket data points before the August RBNZ policy decision and could either seal the deal for a hike or could push back some of those expectations in the event of a very big miss. JPY, CHF & USD: The JPY remains the biggest net short among the majors, and surprisingly has failed to take any real advantage of the drop lower in US10Y. Given the wash out in treasury positions and the move towards 1.14% in US10Y the JPY has not really taken the bait to appreciate as one would have thought. Thus, even though the currency remains oversold from a positioning point of view, it does show that there is some possible asymmetry in long USDJPY right now as a move lower in yields have not negatively affected the pair, and at these lows the probability is skewed towards US10Y upside. For the Dollar, it’s going to be a very data heavy week with the main event being Friday’s July jobs report. As the Fed’s focus has shifted away from inflation and towards the labour market, the jobs data will be watched closely as a gauge to see whether we are moving towards or away from the Fed’s goal of ‘substantial further progress’. Make sure to also keep track of the data points feeding into Friday’s NFP such as the two ISM PMI reports as well as the ADP National Employment data. GBP: The Pound is still in a net-short positioning despite the fundamental outlook still remaining bullish for the currency. That is a positive in our view as it shows that a lot of the frothy positioning has been flushed out after the June FOMC meeting. This week the main event for the GBP will be the upcoming BoE policy decision coming up on Thursday. With hawkish comments from BoE’s Saunders, some participants have argued that we could see a possible dissention at this week’s meeting on whether to continue with QE or whether to cut back. For now, it seems premature for the bank to cut purchases with the furlough scheme still needing to be unwound. The bank would arguably want to see how the labour market holds up before they commit to normalization, and that means waiting until at least October, in which case they would only have about 6 weeks of purchases left, which means the higher likelihood right now is that QE runs out as expected. EUR: For the EUR net-long positioning has continued to fall with the data updated until 26 July. As expected, the EUR managed to grind out some mild gains against the greenback, but unfortunately given the choppy price action going into FOMC we weren’t able to benefit the rewards and was taken out at break-even on our long EURUSD positions. This week, with a light calendar for the EUR it’s going to be a very Dollar focused week for the EUR in general. The weak bearish bias remains intact fundamentally, so any continued upside in EURUSD into key resistance areas could set up some interesting shorting opportunities. However, with such a busy data week ahead, it might be best to wait for data points before engaging the market, especially as we are now officially in the thinner liquidity and lower volume month of August, we might be in store for some choppy price action in between key data points.
by thunderpips
5
Buy eurgbp!We are in a downtrend but this pair loves to retrace back to a level of support or resistance until it has enough momentum to push through support. Since this support line was a key level and had a hard time breaking through the only other choice it has is to retest resistance. It has created a higher low and there are several wicks on the candles showing indecision. It has crossed the 200 and 50 ema on the 15 minute chart as well. This is buy and we will reassess the charts once we reach this zone.
Long
by TheGiovannie
2
EURGBP at SUPPORTHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it. As we can see, the price is inside its DESCENDING CHANNEL and close to SUPPORT. Let us know your views on this in the comment section. Thank you all. There is good news for our followers. We will be analyzing on-demand. So let us know which pair you want our analysis on, and we will get it for you. Do like and follow us.
Long
by Ryan_lopes
COT CURRENCY REPORTAUD, NZD & CAD: Yet another 13K unwind of net long positions for the CAD in the CFTC data updated until the 20th of July means that a lot of the froth in positioning has been taken care of. Our concerns about positioning for the past few weeks meant a patient stance with CAD longs, but with the size of the unwind we think CAD longs look attractive again on a relative basis. As for the NZD, the currency still looks very ‘cheap’ at the current levels given that the RBNZ is the first major central bank that stopped QE. Apart from that, expectations for rates to go higher in the next three weeks should also provide a favourable environment for the NZD. We like NZD longs versus the Dollar going into this week’s FOMC. We remain patient on AUD with the virus escalation. The challenge for Australia when compared to places like the UK and US is that the vaccination roll out is miles behind. So, if the same type of spike in cases occur it could create a lot of economic pain as we head deeper into Q3. On the radar this week will be employment data, and if that comes in much softer than expected our preferred way to express AUD weakness would be with AUDNZD and AUDCAD downside. JPY, CHF & USD: The JPY positioning remains stretched to the downside, and the fast and punchy recovery in equity markets didn’t do the JPY any favours either. However, the inverse correlation with US10Y could still see JPY pressured. We’ve seen a lot of downside in US10Y over the past few weeks, beyond what majority of market participants (us included) were anticipating. The downside in yields meant one less negative driver for the JPY. But as a ton of the stretched positioning in treasury shorts have arguably been flushed out, we could see yields regain some upside momentum again. For the USD, this week we are turning slightly more cautious on the Dollar. Yes, the USD had good reason to see the upside it enjoyed over the past few weeks. But as the markets are looking for a slightly more cautious sounding Fed this week (due to the Delta variant), and since short-term the price action is looking a bit stretched, there could be some downside for the USD going into the FOMC. GBP: The GBP put in a decent recovery from the lows this week. Monday saw some downside as participants were disappointing when the most dovish member of the BoE said some dovish things. Hardly the type of reaction one would expect, but after the comments from Saunders the week before there was some hope that the overly dovish Haskel might do the same. However, despite the Monday sell off we saw Sterling put in a solid recovery, despite ongoing tensions between the UK and EU regarding the Northern Ireland Protocol. At the current levels, especially with positioning back into net short, one has to argue that GBP is looking attractive from a value perspective. As the markets are expecting a cautious sounding Fed this week, one of the ways we would like to express potential USD weakness in the week ahead is against the GBP. Obviously, we’ll need to keep close track of any major negative escalations on the political front. EUR: The EUR has seen a sizable push lower ever since we had the less dovish than expected June FOMC meeting. After that, the Dollar has enjoyed further upside from various drivers which has kept the EUR pressured, and the ECB’s continued dovish tone sure hasn’t helped. We have been very patient in chasing the EURUSD lower after finding the support around 1.1780 – 1.1850 as a very tough nut to crack. Even though we maintain a fundamental bearish outlook on the EUR and the EURUSD one has to argue that the downside looks a tad stretched. Positioning seems to agree with this as we’ve seen a whopping 72000 reduction in net long positioning in the past 5 weeks (that’s a lot). Yes, the overall net long positioning still looks way too high for the fundamental outlook, but timing doesn’t favour chasing the EUR lower from here. At the current levels the risk-to-reward does look attractive for a possible short-term mean reversion opportunity to the upside for EURUSD going into the FOMC, that is barring any possible risk off environments which should be supportive for the USD. *This report reflects the COT data updated until 20 July 2021.
by thunderpips
7
EURGBP a turn at the 0.786 🦐EURGBP tested the 0.786 before starting an impulse to the daily resistance area in blue. According to Plancton's strategy if the price will break above we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
12
EURGBP Chart AnalysisHi everyone I hope you are well After the previous analysis and reaching the price of 0.8613, we saw a fake break in the resistance trend line and the price acted according to the second scenario and dropped to the support level at 0.8510. Currently, the price is facing significant support and we expect the price to return from the same level. If the candlestick forms a candlestick pattern in the next four hours, you can enter the purchase by stopping below the support area . 📣 Attention 📣 ⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea. ⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis. ⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis.
by fx_iranian_traders
EURGBP facing bearish pressure, potential for further downside!Price is facing bearish pressure as it continues to hold below the descending trendline, moving average and Ichimoku cloud resistances. We could see a reversal at 1st resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension, descending trendline resistance and horizontal pullback resistance, and further downside towards 1st support, in line with -27.2% Fibonacci retracement and 78.6% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by TradeGATEHub