Eur-gbp
EURGBP TrendMainly, we are looking for trades based on the trend.
That's why we love to see a decent trending market.
There is a good opportunity on the EURGBP.
Now we have a confirmed uptrend on the hourly chart - higher highs and higher lows.
The support zone is at 0,8646-67.
Once we see another upside move, we expect price reaching 0,8721 and 0,8755.
As an extra confirmation and entry signal you could wait for a specific candle that gives you a single and a close above previous high.
EUR/GBP Bullish Trade Plan - Multi Timeframe AnalysisGood morning traders, today we will analyze a potential bullish opportunity in EUR GBP, since it is at a critical level, and there is the potential for our situation to resolve in our favor.
First, we must clarify why we are looking for a bullish opportunity.
🔸If we analyze the macro context, we see that in the daily chart the price is trying to penetrate a resistance zone, but has not yet managed to consolidate above it.
🔸In case the price breaks out clearly, there is a possibility that it will generate a movement towards the next resistance zone.
🔸What we must do now is to reduce the timeframe to look for a setup with a good risk-benefit ratio.
🔸We need a short-term breakout of the Resistance zone for our bullish scenario to activate.
🔸Then, we will wait for a correction or retest towards the broken zone, since we need a corrective structure that allows us to position the stop loss safely.
🔸 We always look for a potential Risk to Reward ratio above 1:2.
🔸In case it happens, we expect the breakout of this structure and an upward momentum towards the descending trendline.
EURGBP retesting the resistance 🦐EURGBP after the attempt to break the monthly resistance melted below.
The market went below the support area at the 0.86450 and currently retesting the 0.382 Fibonacci level.
According to Plancton's strategy if the conditions will be satisfied we will 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.
GBP - FUNDAMENTAL DRIVERS1. Virus Situation.
Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported. The biggest risk to this view is the current challenges regarding the AstraZeneca vaccine, which the UK is very reliant upon to reach their vaccination targets.
2. The Monetary Policy outlook for the BOE.
From the start of the year the BOE had a change of heart regarding negative interest rates when on the 12th of Jan Governor Bailey pushed back against negative rates, and that view was confirmed in the BOE’s meeting on the 4th of February where they firmly pushed back against negative rates. Even though the BOE is nowhere close to hawkish, their less dovish demeanour regarding the overall economic outlook (and unphased approach to rising yields) have seen markets shifting their monetary policy expectations from expecting the next move to be a 10 bsp cut to now expecting the next move to be a hike of 10 bsp.
3. The country’s economic developments.
Economic data has been better-than-expected despite renewed lockdown measures that was announced at the end of last year. The hopes of a possible faster economic reopening and subsequent recovery has seen both the BOE and IMF upgrade growth projections for the UK economy which has widened the growth differentials between other majors by quite a bit and is something that should continue to be a supportive factor for GBP.
EURGBP at support LOOKS LIKE PRICE IS AT good support level 0.863 ,expecting up movement to 0.877 then 0.887
COT CURRENCY REPORTAUD, NZD & CAD:
Positioning data for the AUD, NZD and CAD updated until the 13th of April still shows more room to run to the upside for the three high beta commodity-sensitive FX majors, even after the recent push higher in the likes of the NZD and AUD.
For this week the majority of the attention will turn towards the Canadian Dollar where we will have the BOC's policy and rate decision. Just two weeks ago the expectations that the BOC will look to start tapering their QE program was set in stone, but recent rising virus cases and lockdown restrictions has seen some participants push back these expectations.
Apart from that, the past few sessions the overall global risk outlook has been the main external driver for the AUD & NZD and without any major surprises we would expect the two antipodeans to be largely driven by the risk outlook.
JPY & CHF & USD:
With the US10Y pressured in the past week the JPY was quite resilient among major currencies despite overall positive risk tones. As yields find some equilibrium it will be interesting to see whether the JPY takes its cue more from risk sentiment in the weeks ahead as the strong inverse correlation between US10Y & JPY has been moving lower recently.
The USD once again saw downside despite further solid econ data and largely followed US10Y's path lower. However, it was quite noticeable that the Dollar didn't fall further on Thursday despite US10Y pushing lower with quite some pace.
Friday did see US10Y finding some reprieve alongside the USD. Even though the Dollar's med-term bias remains titled to the downside, we should keep in mind that yields have not been the only driver for the Dollar over the past few weeks as the overall reflation narrative remains a big focus as well.
As the USD's slide coincides with lots of exuberance in equities and VIX treading water on key support, we do need to keep a close eye on overall risk sentiment for some potential mean reversion at some stage, and if equities do have some short-term deleveraging it could see some USD safe haven flows.
GBP:
The two favourites among the FX majors from a fundamental outlook point of view has been the CAD and the GBP, and it's both of them that has been the weakest among the majors over the past two weeks.
Whenever we see price action like this we need to ask ourselves whether anything has changed that could jeopardize the fundamental outlook, and despite some initial concerns about the AstraZeneca vaccine, the main drivers for expecting further upside in the Pound is still intact.
However, we also don't want to catch falling knives. In the coming sessions, either waiting for price action to confirm the bullish trend is back in focus or waiting for a positive catalyst to driver the Pound higher seems like the best course of action in the short-term.
EUR:
The upside in the EUR this past two weeks has gone against the overall downside bias for the single currency which has been based on the EU's slower vaccine roll out; rise in virus cases; new lockdown restrictions; growth differentials; monetary policy expectations; and fiscal stimulus.
Some have argued that the big unwind in net long positioning over the past few weeks have seen the EUR reach an equilibrium as most of the negatives mentioned above should already be reflected in the price at this point. ING has also noted that there is a possibility that "traders wanting to jump in early on the EUR recovery story – more signs of which should emerge through the quarter as, for example, vaccination programs gain pace in the likes of France and Germany".
However, in our view it's far too early to be buying the EUR en masse in the hopes of an eventual catch up in vaccines and growth, especially on the growth side with the recovery fund yet to be ratified and large parts of the EU still under lockdowns while the UK and US is opening up.
But, as we noted last week, the sensitivity of the EUR to the Dollar also explains some of the upside in the EUR, and remains a key factor to watch in the week ahead.
*This report reflects the COT data updated until 13 April 2021.
EURGBP - Bulls Going In!Recently we saw that this pair broke the long term descending trendline and last week we cleared the daily level. We seem to be in an ABC bullish correction.
Watch for bulls to come in and enter with stops below the ABC correction.
Goodluck and trade safe!
EURGBP - Bulls Going In!Recently we saw that this pair broke the long term descending trendline and last week we cleared the daily level. We seem to be in an ABC bullish correction.
Watch for bulls to come in and enter with stops below the ABC correction.
Goodluck and trade safe!
EURGBP 4H buyEURGBP 4H trending uptrend .The price is above ema .sto rsi indicator is going up.
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Good luck
EURGBP on an ascending triangle 🦐EURGBP after the òast impulse is consolidating below a strong resistance level.
The market is moving between an ascending trendline and the stricture creating an ascending triangle pattern.
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.
GBP: Current Sentiment DriversLatest Developments:
April 14 – The UK’s coronavirus count increased to 4,378,304 cases (+2,490).
March 31 – GDP for Q4 printed at 1.3% Q/Q and -7.3% Y/Y, revised from 1.0% and -7.8%, respectively. The report published by the ONS also noted that household savings for the quarter grew to their biggest ever level. This is supportive of recent comments from the BoE, who expect a significant increase in consumer activity once lockdowns are lifted.
March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%).
March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal.
February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K.
Future Sentiment Shifts:
There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations.
Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate.
Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022.
Primary Drivers:
Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook.
Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative.
Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
EURNZD trendline breakout - Possible short setupEURNZD tested 1.6690 highs and tried breaking out but failed. Eventually breaking out multi-days bullish trendline.
As the momentum is quite strong so there is scope to further go towards 1.6668 lows. Wait for a pullback and trigger short if it breaks the pullback range.
Trade Safe!
GOLD is in a range, i will trade if break up pattern appears GOLD is in a range, i will trade if break up pattern appears
EUR/GBP...SHORT SELL NOW
💹EUR/GBP ⏬SELL @ O.86791 ((Scalping Trade))
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals
EUR GBP SELL (EURO - POUND STERLING)Hi there.
Price is forming a reversal pattern to change its direction.
Watch strong price action at the current levels for sell.
EURGBP bounce over a weekly support 🦐EURGBP on the weekly chart is moving in a huge range between 2 monthly structures.
The price after a long descending trend reached the weekly support at the 0.85 area and bounce with a strong impulse.
According to Plancton's strategy if the market will break above the resistance 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.
EUR/GBP Montly!!!There is a M formation In the monthly time frame. We can expect the price to retrace to the .50 fibonacci level.
💡Don't miss the great buy opportunity in EURGBPTrading suggestion:
There is a possibility of temporary retracement to the suggested support line (0.8555).
. If so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURGBP is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.94.
Take Profits:
TP1= @ 0.8670
TP2= @ 0.8785
TP3= @ 0.8860
TP4= @ 0.8940
TP5= @ 0.9000
TP6= @ 0.9070
SL= Break below S2
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Now, It's your turn!
Be sure to leave a comment. Let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
💡Don't miss the great buy opportunity in EURGBPTrading suggestion:
There is a possibility of temporary retracement to the suggested support line (0.8555).
. If so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURGBP is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.94.
Take Profits:
TP1= @ 0.8670
TP2= @ 0.8785
TP3= @ 0.8860
TP4= @ 0.8940
TP5= @ 0.9000
TP6= @ 0.9070
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment. Let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
EURGBP - SHORT POSITION (8HR)CONFLUENCES:
- Rejection of 50 EMA
- Rejection from 71%-78% Fib area
- Bearish trend confirmed by EMA crossover
