Eurgbp!
Strifor || XAUUSD-10/30/2023Preferred direction: SELL
Comment: At the end of last week, gold reached a new high; now the instrument is most likely to undergo a correction. A short-term decline will be generated with the help of current buyers who trade for a breakout. On a more global scale, gold is trending higher.
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Strifor || EURUSD-10/30/2023Preferred direction: SELL
Comment: The context for the sale remains despite the momentary strengthening of the buyer. Considering the current situation, we cannot rule out an approach to 1.06318, after which the instrument will most likely continue to move towards a more global downward trend.
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EURGBP Swing Entry OpportunityEURGBP is not the most trending currency pair, but I do believe are some momentum plays. They're slow to form, like taking all of last week, but the trend change does spell some opportunities.
There are two key points that signalled the reversal and hold.
Price broke above a consolidation that I marked for a reversal change signal.
Shortly after the neckline breakout, price formed another consolidation. Two weeks ago, price broke above that consolidation and halted shortly after the breakout.
For the week ahead, I'm watching to see if momentum picks up. If I do see stronger bullish candles, this will be good consideration to scale into a long position.
Daily Wave Rider - EURGBP - BUYEURGBP
Channel: GREEN
WK Pivot: GREEN
AOB: WP
CON: SBB
BUY Stop: 0.87376
Stop Loss: 0.86904
TP01: 0.87848
TP02: 0.88792
DWR present as a buy setup on 27 OCT, with Channel and Pivot are green bouncing off weekly pivot
However, trade is not taken/considered
SPX500: SELL
DXY: BUY
OIL: BUY
GOLD: BUY
Strifor || EURUSD-10/27/2023Preferred direction: BUY
Comment: Trading continues at the level of 1.05700 for the currency pair. The probability of a fall remains and it is greater than assumptions about growth. Most likely, a false breakout will be formed upward at this level and after that the price will go down.
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Strifor || XAUUSD-10/26/2023Preferred direction: Neutral
Comment: Buy-priority for metals remains, but is no longer as obvious as before. However, we continue to shop around. In the very near future, the price is expected to roll back towards the level of 1952, from where buyers will most likely attempt to update the maximum, as we noted earlier.
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Strifor || EURUSD-10/26/2023Preferred direction: SELL
Comment: Saving the ECB rate at its previous value was not a surprise; the market reacted calmly, but statistics from the United States, which exceeded all expectations, on the contrary, forced the market to move. Against this background, the euro continues to weaken, and technically, the strength of the US dollar can also be seen.
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EURGBP BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity EURGBP
I still did my best and this is the most likely count for me at the moment.
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EURGBP bullish for the week of 23 Oct.Daily chart
Current trend is bullish, just broke above the 0.870 significant level.
H4 chart
A pullback to 0.870 region is in progress. IMO a bullish continuation to the next significant resistance 0.885 area is likely.
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Daily Wave Rider - EURGBP - BUYEURGBP
Channel: GREEN
WK Pivot: GREEN
AOB: WP
CON: EngB
BUY Stop: 0.87299
Stop Loss: 0.86946
TP01: 0.87652
TP02: 0.88358
DWR present as a buy setup on 26 OCT, with Channel and Pivot are green bouncing off weekly pivot
However, trade is not taken/considered
SPX500: SELL
DXY: BUY
OIL: BUY
GOLD: BUY
EURGBP Buy extension signal within the Channel Up.The EURGBP pair has been trading within a 2-month Channel Up pattern, with the current bullish leg rebounding on the 1D MA50 (blue trend-line) and even recently establishing the 1D MA200 (orange trend-line) as the latest Support.
With the 1D MACD on a Bullish Cross since the 1D MA200 break-out, we expect the rally to continue until 0.8000, which represents a new Higher High on a +2.14% symmetry with the previous rise, just above the 0.618 Fibonacci retracement level.
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Looking at EURGBP ahead of ECB Rate Decision TomorrowAhead of the ECB rate decision tomorrow, the futures markets see almost zero chance we get anything other than a hold at 4.50%. This falls in line with other economies including the Bank of Canada which held rates earlier today.
From a technical perspective the Daily chart is back above the wedge breakout level. I took a Long this morning from 0.87140 after a nice rejection candle close yesterday, but price moved sideways and failed to push higher. This continues the pairs lack of conviction above 0.8700 which starts to make it more and more difficult to see price making a clean break higher.
So 0.8700 is the line in the sand tomorrow, if we see buyers really step up and drive price higher I'll be looking for more Longs, but if we fall back inside 0.8700 I'll flip my bias short, specially if we fall back inside after the rates have been announced.
Best of luck out there and I'll see you tomorrow.
Strifor || GBPUSD-10/25/2023Preferred direction: SELL
Comment: The previous selling idea worked 100%. This is not the end of the downside potential, including today intraday. In the near future, it is expected to approach the lower border of the corridor, which will most likely be broken by the seller.
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EURGBP H4 | Bearish reversal off 61.8% fibo?Price is rising towards our sell entry at 0.8731, which is a strong overlap resistance level, aligning with the 127.2% fibo extension and 61.8% fibo projection. Our stop loss is at 0.8766, which is an overlap resistance level, and placed slightly above the -27.2% fibo expansion and 100% fibo projection. Take profit is at 0.8686, which is an overlap support level.
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