Possible Elliot Correction Wave - EGHere I have EUR/GBP on the 4Hr Chart!
Price Action created a Higher High breaking our Confirmation @ .86340!
Will be looking for price to make a small retracement into my Entry Zone before making its way to Sequence Target!
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-BUY-
{ SL } .8595
{ ENTRY } .86177 - .86132
{ TP } .87087 - .87412
Eurgbp!
EURGBP H4 | Potential bullish breakoutPrice is rising toward our buy entry at 0.86362 which is an overlap resistance.
Our take profit will be at 0.86980, an overlap support level.
The stop loss will be placed at 0.85792, above a pullback support level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
EURGBP Will Go Higher! Long!
Please, check our technical outlook for EURGBP.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 0.860.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.865 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURGBP Set To Fall! SELL!
My dear subscribers,
EURGBP looks like it will make a good move, and here are the details:
The market is trading on 0.8608 pivot level.
Bias - Bearish
My Stop Loss - 0.8626
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 0.8575
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
———————————
WISH YOU ALL LUCK
EURGBP: Testing the 1D MA100 inside diverging Channels.EURGBP hit today the 1D MA100 but so far has failed to cross over it. This is keeping the 1D technical outlook neutral (RSI = 45.430, MACD = -0.002, ADX = 43.111) which is usual after a rebound at the bottom of a Channel. On this particular occasion, it is a Channel Up, rebounding after the 1D RSI turned oversold. However since July 20th, the 1D MA100 got tested four times as Resistance and it rejected the price three. Only then it closed a 1D candle over it, did the trend manage to continue rising past it.
Consequently, if it closes a candle over the 1D MA50, we will go long and target the R1 level (TP = 0.87650). If rejected, we can see a Channel Down emerging much like last May-July. In that case, we will short and target the S2 level (TP = 0.85000).
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EURGBP Potential downsidesHey Traders, In today's trading session, our attention is on EURGBP, as we seek a selling opportunity around the 0.86500 zone. Having previously traded in an uptrend, EURGBP has recently broken out from this pattern and is currently in a correction phase. The correction brings the currency pair towards the retrace area at the 0.86500 support and resistance region, a crucial zone with historical significance.
The shift from an uptrend to the ongoing correction introduces a new dynamic to EURGBP's market behavior. The 0.86500 level emerges as a pivotal point, representing both support and resistance, and its impending influence on the currency pair is closely monitored. Traders and investors are alert to potential implications for future price movements as EURGBP navigates through this critical juncture, shaping the narrative for a potential selling opportunity.
Trade safe, Joe.
EURGBP price action remains mixed.EURGBP - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
Bespoke resistance is located at 0.8630.
Preferred trade is to sell into rallies.
We look to Sell at 0.8630 (stop at 0.8658)
Our profit targets will be 0.8560 and 0.8550
Resistance: 0.8630 / 0.8660 / 0.8700
Support: 0.8595 / 0.8550 / 0.8490Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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EUR-GBP Strong Bullish Bias! Buy!
Hello,Traders!
EUR-GBP is trading in a
Local uptrend and the pair
Went up just as I predicted
Then broke the key horizontal
Level of 0.8616 and the breakout
Is confirmed which reinforces
Our bullish bias and I think
That we will see a further move up
After a potential pullback
Buy!
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EURGBP H1 | Bearish reversalEURGBP is reversing from our sell entry and is reaching our take profit level.
Sell entry is at 0.86310 which is a pullback resistance.
Stop loss is at 0.86490 which is a swing-high resistance level.
Take profit is at 0.86134 which is an overlap support.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
EUR-GBP Will Go UP! Buy!
Hello,Traders!
EUR-GBP broke out of
The parallel range in which
The pair was accumulating
For the next move so now we
Are locally bullish biased
And I think that we will see
A local move up
Buy!
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Check out other forecasts below too!
EURGBP - Time for distribution lower ✅Hello traders!
‼️ This is my perspective on EURGBP.
Technical analysis: As we can see here price was in a range for the last couple of days and now it manipulated buy side liquidity and rejected from bearish order block. I expect we can see distribution lower for taking sell side liquidity
Fundamental news: On Thursday we will see the results of Interest Rate on GBP and EUR.
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EUR/GBP BULLS ARE STRONG HERE|LONG
Hello,Friends!
EUR/GBP is trending up which is clear from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a classical trend following opportunity for a long trade from the support line below towards the supply level of 0.865.
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EURGBP H4 | Reacting off support level?Price could react off our buy entry which is a multi swing-low support level at 0.85631. Our take profit is at 0.86107, an overlap resistance level. Stop loss is at 0.85306, which is a pullback support level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
[EUR/GBP] The price need to breatheVery strong bear move needs a correction, but when ?
We are into a very big range on the weekly/daily timeframe so risky to take a directional trade.
However, we can see an accumulation at this level with a trap letting me think about the correction ... let's see if we can surf on the correction now ...
Great Trade !
EURGBP | COULD BE A GOOD SELL Overall market direction is bearish, The monthly pivot seems to have broken on the daily at least, likely its going to touch the wedge or bearish flag tp, if all breaks then tp3, we need a solid break of 4h support to confirm this trade 100%, but I feel like the patterns are already enough to push this through. 😊✅
EURGBP Consolidating before a sell.The EURGBP pair is on the 6th day of consolidation following the late November sell-off, trading considerably below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The long-term pattern that has been more established since the February 03 High is a Channel Down and it appears that this is a usual technical consolidation phase before the bearish leg enters its 2nd phase.
The 1D RSI got oversold though on December 01 and rebounded back above the 30.00 barrier, which aso explains the consolidation since, but be aware that if the 1D MACD completes a Bullish Cross, it will be time to buy and target the 1D MA50. Until then, we are bearish, aiming for a usual (since June 2022) -4.18% decline from the recent Lower High at 0.8400.
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EURGBP Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring EURGBP for a selling opportunity around 0.85900 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.85900 support and resistance area.
Trade safe, Joe.
HelenP. I After breaking trend line, GBP can continue to riseHi folks today I'm prepared for you British Pound analytics. A short time ago price declined to resistance 1, but at once rebounded and started to move up to resistance 2, which coincided with the resistance zone. EURGBP at once rebounded from this level and fell below, but soon it bounced back and even entered to resistance zone, where it reached the trend line. After this, the price started to decline and in a short time, it broke resistance 2 and fell to resistance 1 level. Later British Pound broke this level too and declined to the 0.8555 support level, which coincided with the support zone. But a not long time ago it rebounded from this level to the trend line and broke it. Now price trades near the support zone and I expect that the British Pound can make a retest of the trend line and then rebound up. That's why I set up my target at the 0.8620 level. If you like my analytics you may support me with your like/comment ❤️
EURGBP Is Bearish! Sell!
Here is our detailed technical review for EURGBP.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 0.856.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.851 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EURGBP H4 | Bouncing off 78.6% Fibo level??EURGBP is bouncing off our buy entry to our take profit level.
Entry: 0.85622
Why we like it:
There is a multi-swing-low support and it aligns with the 78.6% Fibonacci retracement level.
Stop Loss: 0.85622
Why we like it:
There is the pullback support level
Take Profit: 0.86163
Why we like it:
There is the pullback resistance level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.