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Eurgbpsignal

EURGBP | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair enjoyed 135pips run in our direction before the rally. Now - Since late December 2020, the EUR/GBP has been rangebound between roughly the GBP0.91150 - 0.89500 level and emphatically respecting a channel. Despite most quarters supporting the appreciation of the Euro considering the unfolding of the pandemic after which Covid-19 concerns in the UK led the country into a stricter lockdown last week... I am looking the opposite with a possible risk of further decline as price breaks down key level @ GBP0.90200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. The inability of price to break above GBP0.91000 level since Dec 2020 insinuates that buyers might have lost the momentum as we witness a Breakdown of GBP0.90200 last week. ii. Since Breakdown of Key level, a rejection of this level will be my lead in the coming week. iii. A further Breakdown of Demand zone @ GBP0.89000 with significant candle shall increase my confidence in holding the sell position. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
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
Long
by Mihai_Iacob
2
4H Forex Trend Following Strategy With 200 MAThe downtrend of EUR/GBP shows that EUR/GBP will probably touch a major trendline, and it will touch the targets 0.9000 - 0.9060 . By following the Moving average, I suggest traders buy at a price after the above crossing of Price the MA 200 and sell at a price below the 200MA. But because of an election, there is a possibility of fluctuations. Therefore maybe the trend falls from the major resistance trendline and touches the support trendline by crossing the levels 0.8960 - 0.8920 .
by forextidings
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
Long
by tradingonthego
The necessity of confirmation for the Ending Diagonal patternThe necessity of confirmation for the Ending Diagonal pattern completion This week the best currency for trading is EURGBP. And as we mentioned in the previous analysis, there is a probability that the 5th wave of from Ending Diagonal pattern has ended in the range of 0.9022. In order to have confirmation for the completion of this pattern, the price requires to cross the range of 0.9112 (end of 4th wave). The initial target of this uptrend would be 0.9450
Long
by NirmataFX
EURGBP SWING TRADE of the day 13-Oct-2020EURGBP It has reached lower side of the support level and unable to break the level and forming a nice triangle pattern. And the negative brexit headlines are supporting the long for EUR.We can expect the price will reach 0.91320 which is the trend line resistance zone. If the price broke to the downside then we can expect massive downward rally.at the time of writing it is forming a nice bullish engulfing pattern. Stop lose may placed below the 0.89820 level SWING TRADE-EURGBP Entry point @ 0.90490 Take profit @ 0.91620 Stop lose @ 0.89820 Don't risk more than 1% of your capital Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday
Long
by forexorbit