Forexpriceaction
EURGBP: Your Trading Plan Explained 🇪🇺🇬🇧
EURGBP is currently stuck on a key daily horizontal support.
The price is consolidating within a horizontal range on a 4H time frame.
With a release of US PMI, we see a positive bullish reaction and a test
of the resistance of the range.
Its bullish breakout and a 4H candle close above will provide a strong bullish signal.
A confirmed violation will open a potential for a further bullish continuation.
Next goal will be - 0.845
Alternatively, a bearish breakout of the support of the range may trigger a bearish movement lower.
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A pure price read on EUR/AUD No one is perfect, but then again! What the hell is perfect? No one can show me "perfection" in the cosmos. Instead of perfect, perhaps "processes" is more along the lines of an appropriate word. Some might say a process is perfect but I prefer to think natural. Perfect isn't part of nature. This is my process! And, yes! I am influenced by certain methods, but it has been a journey to find my process. I am not looking for perfect trades, but process oriented results. Thanks for stopping in. Be well.
USDCAD Bullish OutlookAs the US Dollar is looking to have a bullish run we may see this pair show a gain in strength as well. More bullish confirmation is given by the inverse head and shoulders pattern here on the 8-hour time frame. Also, price is rejecting the 61.80% Fibonacci retracement level repeatedly.
Gold Bearish OutlookThis pair is currently within a bear flag pattern. After completing wave E, we may now see price is forming a smaller inner bear flag pattern which is also looking to retest the 61.80% Fibonacci retracement level. Expecting price shows bearish momentum after a breakout from the smaller bear flag continuation pattern.
EURGBP TRADE OPPORTUNITY Hello friends ,
Eurgby is correcting to a flat formation , watch price action at 0.8860 for short position . trade with proper risk management .
Good luck to you. you can watch the previous related ideas below
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EURUSD Pre-FOMC Trade PlanCould today’s FOMC push EURUSD out of its comfort zone?
I think there’s a good chance.
Even if today’s events don’t force a break, the EURUSD is going to be forced to make a decision soon.
In Sunday's video, I pointed out this sideways price action below descending channel resistance.
At the moment, that resistance area comes in just above 1.1080.
That’s the confluence of resistance that buyers need to break in order to push EURUSD higher, in my opinion.
As for support, the September 2 high just below 1.1000 is attracting buyers.
We can see that in the price action between the 16th and 17th.
So what’s my plan of action for the EURUSD?
Continue reading...
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