Get started

Eurgbptrend

EURGBP right shoulder formingGuys..... For those who are trading sterling exposure, here is one to be looking at. Technically speaking, EUR/GBP began rolling over from a lower high starting in February. This may be the right shoulder of a head and shoulders top. Strong support at .83300 from the neckline, trend line and 50d moving average must be broken to confirm the top. We heard words out of Forbes yesterday implying the UK will be needing a rate hike in the coming months, this will be indicative for the waterfall event. She also believes that inflation is picking up faster than forecast. Our models suggest that Q1 2017 was a turning point for GBP pairs, this is going to be confirmed b a break below support suggesting EUR/GBP will fall to .7500.
Short
by TheBanker
9
Flag pattern on EURGBPHey guys, another simple pattern on my radar today. This time i'm right on time because the break has just happened. You can see the big impulsive leg that broke multiple structure levels on the 4hr chart. Like i said on the previous idea usually after impulses like this price put brief form of consolidation like flag, triangles and pennants. You can trade in two different ways: the first is to sell the close of the breaking candle, but in this case in order to have a better than 1:1 RR you have to set your target1 below structure (maybe lining up with 1.27 extension), the other way (the one i'm using) is to wait for a pullback and then sell as soon as you get a 1:1 RR at the retest of the lows. And then maybe you can split your position and take target2 at the extension. It's up to you. Feel free to comment below if you want to share your viewpoint or ask some questions. See you in the next chart!
Short
by Roker1
2
UK supreme court will confirm T.May right to triger article 50 Eyeballing the immediate trend remains bearish since November made new lows. This is further illustrated with our models signaled up meaning we may be preparing to rally. At this moment market is still in a downtrend looking at the weekly level. The last high is marked in the first week of October, we remain below key support and resistance is now at 0.84200. On a broader basis monthly levels imply a rise in trend. Some caution is required with buys on this pair.
Long
by TheBanker
1