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Eurgbpanalysis

A glance into CHF crosses (The ultimate safe heaven)Hi traders, in this post let's take a look into the CHF crosses which not only I think presents good trading opportunities, but also will give us a " feeling" about the risk in the markets at this moment. EurChf: As you can see in the main chart (weekly) EurChf is in a clear downtrend since the beginning of the 2007-2008 financial crisis and in the past 7 years, the pair has formed a pattern that resembles an H&S. More importantly though is that the pair is trading at this moment exactly in a strong support above 1 very important figure(We don't care about 3% difference looking at a longer TF) Going to daily Here we can see that since March's top above 1.1, the pair has started to drop, and since September, this drop is accelerating, but more importantly, in the past 2 months, EurChf has broken under 3 important daily support levels. The month of December is marked by consolidation with the pair trading in a tight range. However, last week can give us a clue, with the strong selling and reversal before the 1.05 figure. In conclusion, I expect EurChf to continue its descent at the beginning of 2022 and to reach at least parity figure. GbpChf: Similar to EurChf, here also we have a multi-year downtrend, and going to the daily chart, we can see that the pair is accelerating down since late October also here. December, in GbpChf's case, is marked by a flag, which can lead to continuation, and, very important in my opinion, the BoE rate rise did nothing but a spike up, strongly reversed, leaving a Pin Bar on our chart. 1..2150-1.22 is the support zone, and a break here could accelerate losses to the next important support under 1.17. Such a trade would have a 1:3 risk: reward ratio and, in my opinion, GbpChf needs to be on our watch list in the next weeks. AudChf: We can see something similar in AudChf, a pair very sensitive to risk... The pair is accelerating its loss in late October and we have a break under very important 0.67 support, with this break confirmed as genuine last week. The next support for this pair is 0.64 zone, but once this is cleared, AudChf can spiral down to at least 0.6
Short
by Mihai_Iacob
13
EurGbp strong reversal after BoEYesterday BoE has risen interest rates, this fact only affected EurGbp for the moment, with the pair dropping to 0.8450 zone but strongly reversing after and closing the day above 0.85 figure and leaving the chart with a very nice long-tailed Pin Bar. This is a clear indication for me that the market already priced in this rase and the road for EurGbp is in fact up. My target for buy trades is 0.8650 resistance and only a new low under yesterday's one would change my opinion
Long
by Mihai_Iacob
3
EURGBP Butting Heads with SupportEURGBP currently bouncing around just above a strong previous support level on the 15Min, while still looking Strong Bearing on the 4H. Possible to see a short term bounce up, but longer term view we're looking to see a break below this support line to test the previous lows from October and then November. Price continues to follow a choppy downtrend with lower lows highs, with the exception of a brief December 8th rally that was quickly extinguished.
Short
by HayeTrading
EURGBP 1000+ PIP REENTRYHad a beautiful 200pip move which hit tp1 on the long term eurgbp buy. I am now looking for a reentry based of the 4D candlestick and looking to swing this up. Potential take profit areas are the same as shown through the horizontal lines. DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose. Trading live carries risk and you may make money or lose some or all of your capital. I am not liable for any gains or losses made
Long
by Turtlesoup_Maestro
Trade Idea - EURGBPEURGBP rallied to just shy of its 200-day SMA. Better risk sentiment today has led to some selling toward the 0.85 round number. The 200-day SMA resistance as well as the upper trend line of the descending channel has been a key line in the sand which has seen rallies stumble. If EURGBP pushes higher above the 200-day SMA it could move towards 0.86-0.865 as stops are triggered placed above the 200-day SMA. If omicron turns out to be less important than feared, EURGBP could move lower towards 0.84. Ben Broadbent’s neutral speech today didn’t drop any hints on what the BoE may do at their December meeting.
by FxLabsPlus
2