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Eurgbpforecast

EURGBP Forecast...Journey to 0.85000EURGBP Forecast And Midterm Technical Levels We have reached our midterm targets on EURGBP. Two trades closed with 300 pips. What’s Next? Fundamentally: The positive developments in Brexit and the hawkish speech by President Carney at the BOE meeting last week may continue the support Sterling and accelarate the bullish move. What did Carney say at the BOE meeting? Economy is getting warm When the issue of Brexit is resolved, BoE may go rate hikes faster than the market’s expectations We expect Brexit negotiations to be positive As BOE, we are ready to take all necessary actions. Technically: The pair moved out of “Buy Zone ” and trading below the Ichimoku Cloud on the weekly chart. On the Daily Chart 0.87200 and 0.86900 supports are the key levels. The breakout of 0.88900 support would accelerate the bearish move. The midterm targets of the pair below 0.86900 are 0.86200 and 0.85500.
Short
by chartreader_pro
EURGBP Technical OverviewDAILY CHART TIMEFRAME: Price is below EMA 50, 100, 200. ” The Golden Cut” is on the way. Confirming the Bearish Trend. Support: 0.87280 Resistance: 0.87880 and 0.88510. Bearish pressure will remain as long as the price stays below 0.88500. H4 CHART TIMEFRAME: Ascending trend line has been broken at 0.88200 and triggered the Bearish Move. Price is below EMA 50, EMA 100 and EMA 200. Price tested 0.87600 resistance but failed to break above. EURGBP retested 0.87000 and ended the week at 0.87380. 0.87600 remains as the critical resistance. An hourly closing above 0.87600 may lead the price 0.87900 and 0.88200. Pullback levels to use as selling opportunities are 0.87900 and 0.88400. Conclusion: We are short on EURGBP Intraday Trading: Hourly Closing above 0.87480 can be used as a buying opportunity. Targets are 0.87580, 0.87730 and 0.87890. 0.87900 can be used as a selling opportunity. Midterm Trend Following: Pullback levels to use as selling opportunities are 0.87900 and 0.88400. DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Short
by chartreader_pro
EURGBP Forecast and Technical AnalysisBrexit uncertainty is the most important factor that makes pressure on the Sterling. Like all GBP pairs, EURGBP is one of the most difficult instruments to trade. – CRUDE OIL, GBPJPY, GBPNZD, GBPAUD are at the top of the list – We have published our forecast and trade idea last week and the price reached our second target. We have generated 70 pips so far. However, the real game has just started. Looking at the Daily Chart, we see a few important points to underline. The false breakout after the broken bearish trend is indicating that the Euro bull has run out of power. Price ended below EMA 50,100 and 200. – On the H4 chart, we have a Golden Cross as well – The short-term bullish channel is broken. – You can see it on the H4 Chart clearly – Keeping Brexit in my mind, we put our target levels as follows: For This Week 0.87900 – 0.87580 and 0.87300 Pullback Levels to use as selling opportunities are 0.88500 and 0.88700 Midterm Fibonacci Retracement 61.80 % 0.86800 which has been tested three times before is the key level. Breakout of this strong support will lead the price 0.86000 and 0.85350. DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Short
by chartreader_pro