EURGBP SELLHi fellow traders, EURGBP will be ready to make a move lower from the blue box after it completes the expanding flat pattern. Target the 0.8259 level. Good luck and trade safe!
Eurgbptradesetup
EUR/GBP Retreat Amid Mixed PMI ForecastsAnalyzing the EUR/GBP 1-hour chart provided:
Pattern Recognition:
- The chart shows a recent decline from the 'Premium' level, indicating a resistance zone.
- The price is currently approaching the 'Equilibrium' level, which may act as a short-term support.
- A series of lower highs from the 'Weak high' suggests a potential downtrend in the making.
Trading Strategy:
- Confidence Level: Moderate
- Recommended Position: Short, with caution for a potential bounce or reversal at the Equilibrium level.
- Entry Point: The current level (approximately 0.8746) could serve as an entry point if the price demonstrates continued weakness, breaking below the Equilibrium level.
- Exit Point: Target the 'Discount' zone for potential exit around 0.8700. If the price breaks below this level, it could suggest further bearish momentum, potentially heading towards the 'Strong Low' around 0.8690.
Key Observations:
- The price is in a pullback phase within a larger range-bound market structure. The 'BOS' (Break of Structure) markers indicate significant levels where price structure has been broken, and these could serve as future areas of interest for support/resistance flips.
- The presence of 'ChOCH' (Change of Character) markers suggest volatility and potential changes in market sentiment at these levels.
Conclusion: Look to short the EUR/GBP with a conservative target, while monitoring price action at key levels such as the Equilibrium and Discount zones. Beware of potential reversals as the price is near a historically significant level.
EUR/GBP Primed for Movement Amidst Key Economic IndicatorsThe sentiment from central banks, coupled with softer UK inflation data, suggests a bullish move for EUR/GBP. The technical analysis aligns with this perspective, indicating a potential move towards the 0.8700 handle, especially with the currency pair managing to stay above the 0.8650 level.
TRADE IDEA DETAILS
CURRENCY PAIR: EUR/GBP
CURRENT TREND: Bullish
TRADE SIGNAL: Buy
👉ENTRY PRICE: 0.8655
✅TAKE PROFIT: 0.8700
❌STOP LOSS: 0.8630
TRADE PLAN:
Enter a buy position around the current level of 0.8655. Given the potential upside, a take profit can be set near the technical resistance of 0.8700. To protect the downside, considering the inherent market volatility and any unexpected shifts in sentiment or data, a stop loss at 0.8630 is prudent.
FINAL THOUGHTS:
This trading idea is predicated on both fundamental factors (central bank sentiments and economic data) and technical indicators. Traders should monitor the position closely, especially around the time of the BoE's rate decision and subsequent economic releases, as these could serve as catalysts for significant price movement.
EURGBP Analysis 9July2023if the price does not fall more than the SnD and can break the bearish trendline, then the trend collapse is confirmed and the pair is heading to a bullish trend. if you see a bullish candle and rejectioan in the form of a doji when the price touches the SnD, this is one indicator of a reversal.
EURGBP HUGE BUY incoming!Hi fellow traders, Very good buy opportunity will be there on EURGBP . Let's have some more patience and let this huge WXYXZ corrective structure complete. Goodluck!
EURGBP top-down analysisHi Guys, let’s make a full top-down analysis of this pair, we will take the trade if all the condition of the strategies are satisfied. Press like button to support this video and let me know in the comment section if you have any questions.
EUR/GBP Buy Above 0.9020, Next Target 0.9250 EUR/GBP Buy Stop @ 0.9020
SL: 0.8850
TP1: 0.9140
TP2: 0.9250
EUR/GBP Challenging May's Strong Support. Wait For The Break OutAs long as EUR/GBP Holds Strong support since May, we shouldn't sell before breaking below the 0.8850 price zone. Breaking below 0.8850 Next Target 0.8700.
Since August EUR/GBP Falling From Descending Channel. Only Breaking Above 0.9020 will lead to buying. next target 1: 0.9140 and Target 2: 0.9240
EURGBP weekly viewEURGBP is below a strong weekly resistance and created a very weekly bearish candle.
my view is sell. after it breaks the upward trendline on H4. or it might create H&S or Double top before it falls.
EURGBP: Bullish Idea & Trade PlanEURGBP is at the critical resistance area around 0.9075
The first impulsive move up is completed followed by the correction. At present, it's creating the second leg up.
The Fibo Extn. 100% coincides with the rising channel top at 0.9250 which is the next target once it breaks above 0.9075 and successfully re-tests it as a support.
The two possible variations of this bullish idea could be:
1. It breaks above the immediate resistance around 0.9075 and completes the second leg up.
2. It ranges between the support at 0.8860 & resistance at 0.9075 for a while and then pushes upward to the target.
Invalidation of this bullish setup would be the break below 0.8860
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
EUR/GBP AT REVERSAL AREA, MAY TEST 00.8700 IN THE NEXT WEEK.EUR/GBP SELL NEAR @ 0.8960/70
SL: 0.9025
TP: 0.8700
EURGBP: Potential Long Trade SetupPrice has just completed a 5-3 wave cycle. I'm expecting a continuation to the upside.
Short term short for EUR/GBPSeem to be a perfect place to short EUR. And then long it from support zones below from 0.8515 to 0.8525.
EURGBP has potential to go lowerWhy complicated? Trade as simple as AB=CD
HERE'S THE GOLDEN RULE:
* SELL when the price make a new "Lower HIGH"
* BUY when the price make a new "Higher LOW"
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Free Tutorial on how to trade the AB=CD coming soon! Don't forget to FOLLOW!
Eurgbp D1 Trade Setup wait for breakout suggests more upsideThe EURGBP posted a long white candle and the daily candle suggests more upside.
Intraday Update: The EURGBP just hit the 38% retracement and near the 161% extension. As long as .8972 holds, this could be a good reversal level for the pair to move back to .8900.
End of Week Analysis: The EURGBP has rallied back to a confluence of fib levels. The 38% retrace, the 161% extension and is testing the underside of the trend line. As long as we stay below .9000 on a closing bases, we probably will move lower.
Brexit priced into GBP but not the Euro? UK referendum & elections brought weakness to the Pound, however, its ~15% depreciation should put the brakes on easing and some stimulus may be removed as inflation & general economic data improve.
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