EUR/GBP H4 | Rising into pullback resistanceEUR/GBP is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.8568 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level.
Stop loss is at 0.8596 which is a level that sits above a pullback resistance.
Take profit is at 0.8531 which is a pullback support.
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Eurgbp!
EUR-GBP Local Short! Sell!
Hello,Traders!
EUR-GBP made a rebound
From the demand levels
Below around 0.8531
Just as I predicted but
Is now retesting the broken
Support line of the inclined
H&S pattern that broke to
The downside and this broken
Support line is now a rising
Resistance so I will be
Expecting the pair to make
A local bearish pullback
Sell!
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EURGBP On The Rise! BUY!
My dear followers,
I analysed this chart on EURGBP and concluded the following:
The market is trading on 0.8549 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.8561
Safe Stop Loss - 0.8541
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Strifor || GBPUSD-Mid-term viewPreferred direction: BUY
Comment: The previous medium-term trading idea for the pound worked out very quickly against the backdrop of the publication of CPI data. By the end of the week, longs are already being considered more as part of a small upward corrective movement. The price is trading just above the 1.25000 level, which is significant support. We can expect various kinds of manipulations at this level (scenario №2) , but most likely the buyer will still be able to push the price higher towards the level of 1.26000 . The most likely scenario №1 assumes an increase from the current maximum prices.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || EURUSD-Mid-term viewPreferred direction: BUY
Comment: The main currency pair is most likely now the most interesting to buy, since it has the most formed buy-setup. A significant part of the buyers have already been liquidated, and growth according to scenario №1 is now most likely. Scenario №2 is considered as plan B, where buy-positions are expected at the level of 1.06500 . This level is located near the support trend line.
The target for this medium-term long trade is not considered above the level of 1.07500 .
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Market Analysis: EUR/GBP Dips to SupportMarket Analysis: EUR/GBP Dips to Support
EUR/GBP declined steadily below the 0.8572 and 0.8566 support levels.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP is trading in a bearish zone below the 0.8572 pivot level.
There is a connecting bearish trend line forming with resistance near 0.8562 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a steady decline from well above 0.8580. The Euro traded below the 0.8572 and 0.8566 support levels against the British Pound.
The EUR/GBP chart suggests that the pair even declined below the 0.8562 level and tested 0.8560. It is now consolidating losses and trading below the 50-hour simple moving average. The pair is now facing resistance near a connecting bearish trend line at 0.8562.
It is close to the 23.6% Fib retracement level of the downward move from the 0.8584 swing high to the 0.8560 low. The next major resistance could be 0.8572.
The 50% Fib retracement level of the downward move from the 0.8584 swing high to the 0.8560 low is also at 0.8572. A close above the 0.8572 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8585. Any more gains might send the pair toward the 0.8620 level.
Immediate support sits near 0.8560. The next major support is near 0.8525. A downside break below the 0.8525 support might call for more downsides. In the stated case, the pair could drop toward the 0.8500 support level.
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EURGBP Analysis (10th April 2024)
Market Analysis PT2/2 (9th April 2024)
EURGBP Analysis
On the 4 hour Timeframe, Price action has rejected of a 4 hour resistance level, creating a bearish 4 hour Change of character, followed by a BOS. This price action has resulted in a formation of a bearish FVG and a bearish Orderblock as well.
In order for price action to continue shorting, i expect price to pullback into either the FVG or the Orderblock before creating a 15 minute Change of Character to continue shorting.
Should the FVG be tapped and rejected, i expect a sharp rejection off the FVG, not a slow one. If a slows rejection shows up, highlikely hood for price action to fill the FVG and tap in to the Orderblock before seeing some proper rejections.
Make sure to risk less if you do take this set up as there is CPI and FOMC coming up later on during the NY session.
EURGBP LongMARKET PHASE
OANDA:EURGBP is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
Price continued to break lows within the corrective structure until it began to hold the bottom. There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 0.85773. Price has retraced back to this level to meet the demand multiple times and is met with extreme buying pressure. We can now expect a strong push upwards in the direction of the larger trend.
TRADE
I've entered my long position on OANDA:EURGBP as follows:
Buy Limit: 0.85773
Stop Loss: 0.85733
Take Profit: 0.85853
EURGBP: Multiple Time Frame Analysis & Bearish Outlook 🇪🇺🇬🇧
Take a look how EURGBP reacted to a daily falling trend line
on a 4H time frame.
The market started to consolidate within a narrow range
and was stuck within for 2 trading days.
Today we see a strong bearish movement with a confirmed violation
of the support of the range.
It indicates the strength of the sellers.
We can anticipate a bearish movement lower, at least to 0.8562
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EURGBP - Price can exit from rising channel and fall to $0.8550Hi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊
Some time ago price declined lower support level, which coincided with support area, and started to trades in triangle.
In triangle, GBP made upward impulse to resistance line, breaking $0.8540 - $0.8570 levels and then turning around.
In a short time, price declined to resistance area and soon exited from triangle and broke $0.8570 level too.
After this, price fell to support area, after which it entered to rising channel, where GBP rose to $0.8570 level.
Also, price broke this level again and some time traded higher, but recently fell back to support line.
Now, I think British Pound can grow to resistance level and then bounce down to $0.8550, exiting from channel.
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EURGBP, Pull-back trade idea. EURGBP / 1D
Greetings, traders! Welcome back to another market analysis.
EURGBP pair has been trading in a Bearish trend within a larger trading range, the price is showing evidence of a pull-back mode so far. Therefore, I'll be looking to get on a pull-back trade here to close the GAP.
Trade safely,
Trader Leo
EURGBP Buy SignalConfluences for a this buy setup are displayed in the image already.
Took a buy order for this trade already based on one hour bullish engulfing candle.
Let me know your thoughts on this trade and kindly give me a boost and follow if you love my analysis, you can take a tour on my page to also check out other analysis.
Strifor || USDCAD-Mid-term viewPreferred direction: SELL
Comment: As part of the upcoming weakening of the American currency in the medium term, one of the most promising currency pairs for such a trade is USDCAD . The fall is considered towards the level of 1.35000 , target №2 - 1.34000 .
The more likely scenario №1 still assumes a preliminary update of the maximum, that is, a price movement towards the level of 1.36500. Scenario №2 - more aggressive in terms of sales, and assumes a maximum drop from current prices.
Additional comments on this trade will be provided as situation changes. Follow us!
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