Eurgbpbullish
EURGBP, tries to break the strong support, LongEURGBP, tries to break the support but the momentum is WEAK.
+ Oversold
+ The Momentum is weak
+ The price action tells further advance
EURGBP BUYSTOPeurgbp is consolidating and its in a correction move wait for the 3rd touch in small support area and take a buy order , as expected it will break impulsively and will give good profits ( I anlysed it for hours and its expected to move up according to my analysis ) MULTIPLE TIMEFRAME ANALYSIS
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FALCON STRATEGY
EURGBP BUYA downtrend is likely to reverse now as it is having multiple touches in downtrend and now it touched the weekly trend line and a strong bullish candle is formed in 1H time frame , put a buy limit few pips above the small 1H structure amd then be patient 🙌
Bullish Alt Bat PatternEURGBP BULLISH ALT BAT PATTERN
Market Buy Order Set Up.
Buy Entry: (0.89339)
Take-Profit 1: (0.89832)
Take-Profit 2: (0.90225)
Stop-Loss: (0.88817)
Max Risk-Reward: (1.70)
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EURGBP BUYThis is EURGBP 4H timeframe analysis, i'm expecting the market to but to the previous resistance level.
Long Position on EURGBP-4HHello Traders!
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🚀BUY Execution according to the market.
EURGBP BUYEURGBP 4H timeframe analysis, i'm expecting the market to continue to move to the upside after it comes down for a retracement.
EurGbp- will it finally reverse?Since mid-September top at 0.93, EurGbp's evolution has been very frustrating, with one day up, one day down, 2-3 days down, then reverse strongly, etc
The pair managed to drop almost 500 pips in this manner, but trading it was more of a gamble...
Now I think Eur finally reached an important bottom, support that acted as resistance/support all 2020.
The pair broke above the descending trend-line now and, if we look at the weekly chart, we can clearly see a bullish engulfing candle formation.
I'm bullish on this pair and I will look for opportunities to buy for a 0.9150 target
EUR/GBP Technical Analysis
The counter has been in a steady decline for the last 3 months.
Now, it has hit a strong support level which could trigger some profit booking.
Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone.
Hence, we expect the pair to be bullish in the short-term.
EURGBP - false level breakdownPrerequisites to the bounce:
Increased ATR.
Two days fall down.
Mirror level ahead.
example how a false break out works:
LONG ON EUR/GBPBouncing off a very strong support level/Demand level, Stochastics is turning bullish and suggesting a reversal.
However, we are in uncertain times with the outcome of the US election to still be determined thus anything can happen.
EURGBP 60 PIP BUY Looking at a 60 pip rise on EURGBP . Price is currently situated at the 0.368 fib level, alongside this we also have an intersection of two trends. The trend line showing bullish momentum i believe will have the upper hand due to the strength of the overall trend. Furthermore in perspective it is also forming a long term pennant , however due to the strong bullish momentum beforehand i believe this will continue bullish once broken. At this intersection point we have already seen a slight rejection and the RSI (10) showed an oversold condition at this point. Unfortunately 200 EMA is not showing much however with the points stated i can see EURGBP returning to a short term bullish trend to the upside of the pennant to test it once more. Taking this into consideration i will look for further entries. With price situated at the 0.368 fib level and being at a signifcant point in two sections of trends i can see price rising once more. TP is currently set at 60 PIPS where as the SL is set at 35 PIPS
EUR/GBP Technical Analysis
The upside movement of the pair is capped by a bearish trendline.
It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead.
Hence, we expect the pair to be bearish in the near-term.
EurGbp- I remain bullishEurGbp is trading in a range with the pair being very well bided in 0.9 zone.
Yesterday the pair created a higher low on the short term time frame and a clear break above 0.91 should accelerate gains towards at least 0.9250 zone.
I will remain bullish on this pair as long as 0.9 holds
EurGbp- buyers are in a good positionAs I said yesterday, EurGbp found strong support above 0.9 and the correction from 0.93 recent high could be over.
The pair broke yesterday above down trend line resistance and now is trading stable above 0.91 psychological support.
In my opinion, dips towards 0.91 should be bought for a new restest of 0.93
Interim resistance is just above 0.92
EurGbp- back to 0.93?After the strong rally at the beginning of September, EurGbp corrected and consolidated for more than a month now.
The pair seems to have found strong support just above the important 0.9 zone and now looks ready for a new leg up.
Dips should be bought for this pair and bulls can expect 0.93 as a target.
A daily close under 0.9 would negate this outlook.
