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Eurgbplong

EURGBP: The end of the DESCENDING CHANNELHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : EUR/GBP ⚪ Technical Analysis : Since the 20th of January 2021, the price has been following a really strong descending channel, reaching today an important weekly support zone at about 0.86900. This level rejected the price many times in the past and there is a nice possibility to see the same reaction. 🔴 Conclusion : I'm confindent to see the end of this descending channel, considering that the price almost reached the weekly support zone. It is currently overbought and at the end of its last bearish impulse. By the way, I'll be waiting for the breakout of its channel before planning my long position on this trade. A possible entry point could be a closing bar on the level at about 0.87600! Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Long
by FXtrades-gp
16
EURGBP - CURRENTLY IN DISCOUNT PRICINGTechnical Overview: - EUR/GBP We have had the chance to enter on a buy position last week and followed by closing the position before the initial drop we were anticipating. HTF - We are oversold from a higher time frame perspective and should be looking for long potential opportunities, since we are in the start of the week and US markets are closed on Monday, we do expect price to potentially going lower before we look for any buy opportunities. We will be approaching this with more caution and look should for confirmation before entering any to the upside. Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the Devil 😈 Trade with the manipulation👾
Long
by FlyDownX
7
EUR/GBP LONG SETUPEUR/GBP is in a down trend, respecting the green descending channel. It is s lowly approaching the important weekly support area that is marked with the blue rectangle . GBP/AUD is currently on a key support area ( Green rectangle ) which the price has been retesting on a hourly time frame. 1) I expect the price to fail to break this key support area indicating a reversal, breaking the descending channe l that is has been following. Then i would expect to enter a long position after the price retested the upper green trend line with the take profit at the next key resistance. This is shown by the grey path . 2) I f the price manages to break the current support approaching the weekly support area ( Blue Rectangle ). I expect the p rice to fail to break below the weekly resistance, starting a reversal, breaking the descending channel and forming a new uptrend market structure . I would enter a long position once the price retested back to the Green descending channel, successfully indicating a trend line breakout . This is shown by the Orange Path .
Long
by wookyu2001
EURGBP - CURRENTLY IN DISCOUNT PRICETechnical Overview: - EUR/GBP We had seen the bearish run down raiding the support level at 0.88500 many buyers and sellers were interested in this very special level. Due to the fact that the market likes to move where there is liquidity, it is no surprise that we raid this very key lows. Many of us are taught to buy where price is mostly rejecting, and that's exactly what the big banks want you to believe. We were anticipating this raid to the downside clearing all buyers and sellers before we can look for buy opportunities. It is very crucial to point out that we are in discount pricing meaning price is oversold, thus giving us a chance to look for buy potential. We do anticipate price to come down lower from a smaller time frame, however higher time frame we are using this as a chance to buy these deals! Remember this is our free analysis! To learn more find out below. Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the Devil 😈 Trade with the manipulation👾
Long
by FlyDownX
14