EURGBP uptrend opens up, more upside to come?
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Eur-gbp
EURGBP Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring EURGBP for a buying opportunity around 0.86300 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.86300 support and resistance area.
Trade safe, Joe.
EUR/GBP/USD: Oct 9th, 2023 - Oct 13th, 2023It is officially Q4 and I am expecting the next quarterly shift soon.
Overall, I am still bearish EUR and GBP on the quarter, but I am open to buying this month given that I am expecting this week to trigger the monthly manipulation and next week to trigger the quarterly manipulation phase.
I want to eventually see the BISI(M) below price engaged on both EUR and GBP, but for now I believe we are due for a retracement, at the very least some bullishness this week.
USD has already dug into it's SIBI(M) and printed a daily swing high while leaving it, which means that could be all is needed for the quarterly shift.
From this week's price action, I am wanting to see if USD commits lower and a draw towards the -BB(M) on EUR and GBP, but will watch for how price interacts with the SIBI above prev. week's high(PWH). If I am correct in my analysis I expect these SIBI s to invert.
EUR: Longs from IFVG , Targeting -BB
GBP: Longs from +Reaper , Targeting -BB
USD: Shorts from -IFVG , Targeting +BISI
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GBPUSD:
US Dollar:
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Long EURGBPLast week EURGBP posted a green Heiken Ashi candle on the weekly time frame. This suggests to me that we may see another green weekly candle posted this week.
It is also the case that EURGBP posted a green Heiken Ashi candle on the daily time frame, after a series of red candles. This suggests to me that we may see a multi-day bull run.
EURGBP Low risk trades on both sides.EURGBP is consolidating inside a wide Resistance (1) - Support (1) range since May.
Last week, the MA200 (1d) even came into play as a Resistance, rejecting the August bullish leg from breaking over on 4 straight candles.
It did however cross over the Falling Resistance of 2023.
Trading Plan:
1. Sell as long as the (1d) candles close under the MA200 (1d).
2. Buy if the top of Resistance Zone (1) breaks.
Targets:
1. 0.85500 (over Support 1).
2. 0.88750 (Resistance 2).
Tips:
1. The MACD (1w) has formed since mid September a Bullish Cross. Being on the bearish side, it is a strong sign of bullish potential.
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Notes:
Past trading plan:
EURGBP Bullish over the 1day MA200, bearish under it.EURGBP hit this week the 1day MA200 and fot rejected but not too low.
As long as it holds the Resistance ground, feel free to sell and target the 1day MA50 and Rising Support at 0.86100.
If it crosses over the 1day MA200, buy and target Resistance A at 0.88750.
Notice: An RSI cross under its Rising Support may indicate a shift to a more bearish momentum.
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EURGBP: Top-Down Analysis 🇪🇺🇬🇧
EURGBP is trading within a wide horizontal range on a daily.
Its upper boundary was reached last week.
Analyzing the reaction of the price to that, we can spot a narrow horizontal range
on an hourly time frame.
Its support has just been broken - it is an important sign of strength of the sellers.
I anticipate a further decline now to 0.8666 / 0.865
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EURGBP Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring EURGBP for a buying opportunity around 0.86600 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.86600 support and resistance area.
Trade safe, Joe.
EURGBP WEEKLY DOUBLE BOTTOM ? Very BULLISHHello traders ,
today i took a look at EURGBP the pair looks very very bearish to me. here our your clues
Weekly TF
Double bottom on key level formed
Broken bearish trendline
Broken neckline with strong bullish candle.
i believe the trend has reversed the pair is bullish now you should be looking for buying opportunities.
EURGBP: Approaching the 1D MA200. Strong Resistance Band.EURGBP is on a strongly bullish 1D technical outlook (RSI = 67.813, MACD = 0.002, ADX = 32.512) as it is rising on HL since the 0.84950 bottom. The 1D MA50 has been turned into Support but the price is now approaching the first important Resistance levels for the long term, R1 (0.87025) and more importantly the 1D MA200. If it achieves a candle close above, we will go long and target R2 and the 0.786 Fibonacci level (TP = 0.88750). If rejected on the 1D MA200, we will go short and target the 1D MA50 - HL zone (TP = 0.86200).
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Long EURGBPLast week EURGBP posted a green Heiken Ashi candle on the weekly chart. This suggests to me that we may see another green weekly Heiken Ashi candle.
It is also the case the a green Heiken Ashi candle was posted on the daily time frame after a series of red candles. This suggests to me that we may see a multi-day bull run.
EURGBP Target 1 achieved. Sell again.The EURGBP pair gave us a solid sell signal (1D RSI breaking the Higher Lows) on our last call (August 03) and has already hit our first target (see chart below):
The pattern remains a Channel Down since the February 03 High, maintaining the bearish trend unless the 1D MA200 (orange trend-line) breaks. It is also possible to see a transition to a Rectangle (Resistance 1 and 1D MA200 the top). Until the Channel Down breaks though, we are opening a 2nd sell on the current market price. The target remains 0.84100 (Support 2).
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EURGBP Potential DownsidesHey Traders, in today’s trading session we are monitoring EURGBP for a selling opportunity around 0.86200 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.86200 support and resistance area.
Trade safe, Joe.
Watching for potential turns on EurGbpRejections on daily chart and watch for any breakout to bring this pair lower.
**Find out more from my Tradingview Stream this week**
***************************************************************************************
Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
Triangle idea- retest and continuation.This can be a potential triangle pattern. It is drawn two lines between the strongest and most recent reaction zones. I think the price will bounce back up to create a third touch in center where the two lines crosses before making its way down in the major trend.