Eurgbpbullish
EURGBPOur preference: position bought above 0.8830 with targets at 0.8860 & 0.8880 in extension.
Alternative scenario: in break of 0.8830, a continuation of the decrease will be envisageable with 0.8815 & 0.8800 in line of sight.
Comment: A support base of 0.8830 was formed and allowed temporary stabilization
"Winner takes all" on EURGBP for UK Elections... after what was another upsetting weekend in the city, sadly, no surprises!!! Elections now taking centre stage in UK alongside Saudi/Qatar relations.
We'll wrap up the macro details in a few as I will be publishing 2 setups on EURGBP for those wishing to take part these will include references to the interpretation/context of recent numbers and politics.
-> The options ... Long or short.
Those choosing to take part have 2 triggers to pick from; price and fibs and we can compare at the end which was the best (if any).
(i) FIBS
Longs ->
Shorts ->
(ii) PRICE
Longs ->
Shorts ->
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Choose from;
BUY : Limit BUY @ 0.865x -> TP1 0.882x -> TP2 0.900x
SELL : Limit SELL @ 0.881x -> TP1 0.845x -> TP2 0.823x
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This is the range we are currently trading in:
Bottom of range : 0.8350x
Top of range : 0.9270x
Mid : 0.8750x
=> Conservatives remaining with unchanged majority, expectations will offer a relief rally towards the 0.84xx handle after the election. This would give us continuation of the range (Mid/Low) of 0.84xx - 0.88xx
=> Conservatives losing majority and Corbyn the communist getting the hung parliament we will see expectations towards the 0.90xx handle in a swift knee jerk before settling in the 0.84xx - 0.88x range till the end of this year when we will start to trade the impact of Brexit in equities.
Come on jump in and make a call!!
EUR GBP: a short term upward movement yet possibleI believe that trading success relies heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. A consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favourable trade setups and plans.
EurGbp Bullish and Bearish setupsEurGbp looks like it will perform a wave up when looking at the current structure and the indicators.
However a break of the lower range will confirm a sell. So basicly EurGbp is showing options for a
bullish or bearish entry. Personally I am with the bulls given the current structure and setup of the indicators. But I will sell if the lower range breaks.
Since it can be traded both ways I give this setup a Neutral.
Also alot will depend on the French elections that are being held this sunday. If the anti-EU "populists" don't win then the Euro will show a nice boost.
EURGBP right shoulder formingGuys.....
For those who are trading sterling exposure, here is one to be looking at. Technically speaking, EUR/GBP began rolling over from a lower high starting in February. This may be the right shoulder of a head and shoulders top. Strong support at .83300 from the neckline, trend line and 50d moving average must be broken to confirm the top.
We heard words out of Forbes yesterday implying the UK will be needing a rate hike in the coming months, this will be indicative for the waterfall event. She also believes that inflation is picking up faster than forecast.
Our models suggest that Q1 2017 was a turning point for GBP pairs, this is going to be confirmed b a break below support suggesting EUR/GBP will fall to .7500.
Finding Well Known ResistanceWaiting to see the GBP Construction PMI. If they come out with strong numbers, then this will fall like a brick. EUR is coming out with Core CPI Flash Estimate y/y and CPI Flash Estimate y/y. They do tend to move the market. Keep an eye on this pair after the release. My rule of thumb is, i'm never trading on the wrong side of 10EMA, and never going into a reverse position, if the current daily candle stick hasn't exceeded the previous day.
EURGBP(D) #Forex #EURGBPHere we can see a possibility of going Long after the break of the counter trend line, where the MA is about to cross over and the target is set at the 0.87000 level monthly key level which is in confluence with the upper main trend line. price is currently sitting at the Monthly support level in line with the main trend line, the further analysis shall be done once the target is reached or other alternatives will be made.
PS: This is not a trading signal just a market idea, please use a valid strategy to enter this trade, if you are not educated enough do not trade it! wait for clarity and correct signs before entering the trade! there is no 100% guarantee in trades!
AceTeam FX
Wait For The ReverseIt just broke resistance at 0.84780 yesterday and is now slowly moving up again. The previous uptrend (green line) is the new high, which I think it will be bouncing of and reverse in a day or two. MACD is forming a negative double wave, which often signals buying power is weak and it will continue negative.
EURGBP Might be Trying to say somethingOver the past couple of days we've had some mixed feelings about eurgbp but so far i think shes giving as much signals as possible , if indeed we are to break out , the day is today (I have to admit it though , that uptrend force is scary to think about while short at this pair , but oh dear trading wisely is the key.
UK supreme court will confirm T.May right to triger article 50 Eyeballing the immediate trend remains bearish since November made new lows. This is further illustrated with our models signaled up meaning we may be preparing to rally.
At this moment market is still in a downtrend looking at the weekly level. The last high is marked in the first week of October, we remain below key support and resistance is now at 0.84200. On a broader basis monthly levels imply a rise in trend.
Some caution is required with buys on this pair.
long EURGBP @ 1h @ trading capability for this 52nd week `16Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
short EURGBP @ 60 min @ trading capability for this 51st week`16Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron