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Eur-gbp

EURGBP on a long downtrend 🦐EURGBP on the weekly chart has been moving in a dowtrend for a few weeks in a row. The price is now trading close to the support area at 0.85300 and never provide a sign of a retracement. We can expect in the next week a retracement move to retest the resistance area at 0.87 and from there will check the market for the next move. -–– 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.
by InkyGrip
6
COT CURRENCY REPORTThis report reflects the COTdata updated until 23 Mar 2021. Overall: With the CFTC data updated until 23 March the JPY showed the biggest decrease of (-14K) and the EUR showing the biggest increase of (+3K). AUD, NZD & CAD: After sizable moves lower with the recent risk off flushes, all three high betas remain bullish in the med-term outlook, and with relatively small net long positions, there is still more room to run. In the week ahead it's going to be very quiet on the data front, but we will have a few events to watch for WTI which could have impact on the CAD such as the upcoming JMMC meeting and more developments with the Suez Canal. Also keep in mind this week we will have month-end and quarter-end, we also have a shortened week due to Good Friday, which means liquidity is likely going to be unfavourable. Thus, even though med-term biases remain intact do watch out for erratic price moves without any real catalyst. JPY & CHF & USD: Another big increase in net-short positions for the JPY. The speed of the move in the JPY has been very excessive in the short-term, with the 1-year z-score printing a 4.5 with this past week's data. That is a very big deviation from the norm, which means we do want to be a bit careful with the JPY from a positioning point of view. Even though the JPY has been at the mercy of moves in US10Y, a sudden move higher from some profit taking is a risk to keep in mind. The Dollar was the star performer last week, pushing higher across the board even while US10Y was pushing lower for the majority of the week. The short-term drivers that has recently affected the Dollar is still very much in play such as yield differentials, better relative growth & inflation dynamics as well as the faster policy normalization expectations for the FED. However, again from positioning, the move in the USD does look stretched in the short-term so keep that in mind going into the new week. GBP: The bias for Sterling remains titled to the upside, especially versus the EUR, where EURGBP managed to close below the important support at 0.8550. This week is going to be very light on the data front, so focus will remain on the overall driver for EURGBP such as vaccine roll out (UK well ahead), growth expectations (UK well ahead), monetary policy (UK far less dovish), fiscal policy (EU still waiting for ratification), new virus cases (rising much faster in EU). EUR: The reasons to expect downside for the EUR has been on the rise recently. Whether we consider the vaccine roll out, or recent virus numbers, or lockdown restrictions, or relative growth dynamics, or policy normalization expectations, all the above point to further downside for the EUR versus the USD and GBP, as well as the high betas. Despite shedding a lot of net long positioning in the past two months, the EUR remains the largest net long position among the majors, which means there is quite a bit of room to run to the downside if the above concerns continue to pressure the single currency. For the week ahead, the focus will be on the incoming US ISM Manufacturing PMI as well as the March NFP report (which is expected to show a sizable jump on the headline). If we see these two data points print significantly higher than expected, it will mean more downside for the EURUSD, which should also be supportive for further EURGBP downside as well.
by thunderpips
21
EURGBP will break the weekly support? 🦐EURGBP after the first test of the weekly support retrace until the 0.5 Fibonacci level below a descending trendline. The price from there got rejected and now moving for a new test of the support. According to Plancton's strategy if the price will break below 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.
Short
by InkyGrip
4
EURGBP looking up 🦐EURGBP on the 4h chart after our last analysis almost reached the 0.86500 level. The market is now testing a minor resistance and if the price will break above we will set a nice long order according to Plancton' strategy. -–– 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
16
EURGBP on a fakking wedge 🦐EURGBP after the consolidation over the 0.85500 level is currently testing a minor resistance area. According to Plancton's strategy if the price will break 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. Leave a comment that is helpful or encouraging. Let's master the markets together
Long
by InkyGrip
4
EURGBP facing bearish pressure | 19 Mar 2021EURGBP is facing bearish pressure from 1st resistance which coincides with 50% Fibonacci extension and 78.6% Fibonacci retracement . Prices might push towards 1st support which coincides with -27.2% Fibonacci retracement and 127.2% Fibonacci extension . If prices break through 1st resistance, prices might push up towards 2nd resistance which coincides with 78.6% Fibonacci retracement and 78.6% Fibonacci extension . Ichimoku cloud is also above prices, showing a further bearish pressure for prices.
Short
by FXCM
18
EURGBP facing bearish pressure | 19 Mar 2021EURGBP is facing bearish pressure from 1st resistance which coincides with 50% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push towards 1st support which coincides with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. If prices break through 1st resistance, prices might push up towards 2nd resistance which coincides with 78.6% Fibonacci retracement and 78.6% Fibonacci extension. Ichimoku cloud is also above prices, showing a further bearish pressure for prices.
Short
by FXCM
18
EURGBP facing bearish pressure, potential for further downside!EURGBP is facing bearish pressure from 1st resistance and descending trend line resistance which is in line with 127.2% Fibonacci retracement. Prices might push towards 1st support which coincides with horizontal swing low support which coincides with 61.8% Fibonacci extension and 127.2% Fibonacci retracement. If prices break through the 1st resistance, it might push up towards 2nd resistance which coincides with horizontal swing high resistance and 50% Fibonacci retracement. EMA is also above prices, suggesting a bearish pressure for prices.
Short
by TradeGATEHub
2
EURGBP looking for direction 🦐EURGBP currently is moving between a tight range within 2 structures. 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
8
Swing Trade idea on EUR/GBPGood morning traders, today we bring you a swing trade opportunity in the EUR/GBP pair, as we consider that it has great downside potential. 🔸As we can see, the price has been in a marked downtrend for several months, and at the moment we do not see any clear sign of reversal. 🔸Otherwise, a large support zone was recently broken to the downside. 🔸Since then, the price has remained in a consolidative process. 🔸What we are waiting to consider a bearish trade in this pair is a new retest of the broken support zone (now resistance zone). 🔸If that happens, we will wait for some price action confirmation, such as a clear reversal pattern on the daily chart, to look for a trade in that direction. 🔸The target zone is the next support zone at 0.83000. There is a distance of approximately 350 pips from the resistance zone.
Short
by ThinkingAntsOk
12
EURGBP looking for a retracement 🦐EURGBP on the daily chart is moving inside a descending channel The price if now testing a minor dynamic trendline below a resistance area and according to Plancton' strategy if the market will break above and the conditions will be satisfied we will set a 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
2
GBPUSD Going On The RunGBPUSD Has been a difficult pair to trade. In the recent days it has offered some good opportunities but it has also accumulated and that could be the signal to rebalance the market. Pound has been a pair for day trade only i mean it gives up a good 50-100pips in a day's move so why hold longer when it moves so unexpectedly. Proceed with caution. To me it wants to take 1.38500 and subsequently 1.37800 easy targets. However, this pair moves so strong that it can rally to 1.39500+ and tank to take 1.3780 so have to be careful. #GBPUSD #DOLLAR #EURUSD #POUND #GBP #EUR #USD
Short
by nightdrive
EURGBP on. tight range 🦐EURGBP after our last analysis broke below the daily resistance and currently is moving between a tight range within 2 structures. 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. Mar 8 Comment:
Short
by InkyGrip