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7 Dimension analysis for EURGBP 🕛 TOPDOWN - Navigating a Sideways Consolidation Overview: This pair has been trading in a sideways range between 0.9501 and 0.8260 since 2017, establishing a considerable consolidation area. The monthly chart reflects a vast consolidation region, making it one of the most consolidated pairs in forex, lacking a clear direction. On the weekly chart, after forming a valid low, the pair initiates an upward move, seemingly with a short post-breakout buildup. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective, nearing a valid Point of Interest (POI). 🟢 Inducement: Completed, forming a valid high, with prices approaching a potential buy area. Anticipating the 1st pullback, which might be deep at extreme levels. Internal structure appears bearish with an unmitigated overbought (OB) scenario. 🟢 Support/Resistance Areas: Support, Demand, Accumulation areas are vital, marked with trendlines. Identifying potential buy entries in these zones. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal Double bottom formation indicative of a potential reversal. 🟢 CANDLE PATTERNS Key Observations: The last candle, a significant bear candle, indicates profit booking by climax players. Momentum candles reflect strict bearish momentum, but bear in mind that substantial bear candles near support might not have significant implications. Climax players' activity in the area warrants careful observation. 3️⃣ Volume: High volumes at both the beginning and end, signaling bullish volume. There's a high chance of price reversal or support emergence from these levels. 4️⃣ Momentum RSI: 🟢 Momentum State: In a sideways zone. 🟢 Divergence: Two consecutive bearish divergences indicate active bears, although a bullish divergence is currently forming. 5️⃣ Volatility Bollinger Bands: 🟢 Bands are below the middle band, suggesting a bearish trend. However, a punch from the upside signals strong bearish pressure. 6️⃣ Strength - ROC Values: EUR is stronger than the bears. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bullish ☑️ Current Move: Corrective ✔ Support Base: Previous support area ☑️ Candles Behavior: Climax player activity, record session count with an extreme bearish candle unable to break support. ☑️ Trend Line Breakout: Not yet observed. ☑️ Final Comments: Buy at the support. 💡 Decision: Buy once the price reaches the support area. 🚀 Entry: 0.8670 ✋ Stop Loss: 0.8647 🎯 Take Profit: 0.8831 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 30 days SUMMARY: The analysis focuses on a bullish scenario, given the corrective move and potential support areas. However, cautious optimism is advised, considering bearish momentum and climactic activity. The strategy revolves around waiting for the price to reach a key support level for a buy entry, aligning with the broader bullish outlook.
Long
by Optimum369
EURGBP - Time for distribution lower ✅Hello traders! ‼️ This is my perspective on EURGBP. Technical analysis: As we can see here price was in a range for the last couple of days and now it manipulated buy side liquidity and rejected from bearish order block. I expect we can see distribution lower for taking sell side liquidity Fundamental news: On Thursday we will see the results of Interest Rate on GBP and EUR. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
2
EURGBP Long Term Buying Trading IdeaHello Traders In This Chart Forex ForecastEURGBP DAY By FOREX PLANET today EURGBP analysis 👆 🟢This Chart includes_ (EURGBP market update) 🟢What is The Next Opportunity on EURGBP Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Long
by ForexPlanet20
EURGBP Long Term Buying Trading IdeaHello Traders In This Chart Forex ForecastEURGBP DAY By FOREX PLANET today EURGBP analysis 👆 🟢This Chart includes_ (EURGBP market update) 🟢What is The Next Opportunity on EURGBP Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Long
by ForexPlanet20
EURGBP Long Term Buying Trading IdeaHello Traders In This Chart Forex ForecastEURGBP DAY By FOREX PLANET today EURGBP analysis 👆 🟢This Chart includes_ (EURGBP market update) 🟢What is The Next Opportunity on EURGBP Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Long
by ForexPlanet20
EURGBP - Long active ✅Hello traders! ‼️ This is my perspective on EURGBP. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs. I expect bullish price action from here as price filled the imbalance and took liquidity below equal lows. Fundamental news: Tomorrow will be released yearly CPI on GBP. News with impact on GBP, so pay attention to the result in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD