EURGBP has retraced up to the 38.2 fib level from the most recent swing low which has given me an aggressive short entry point back down to the previous lows at the 0.84900 level. We are overbought on all timeframes from the 4hr down which has given me confidence to bag at least 20 pips or so profit from this trade. My mid-term bias however is bullish up to the...
Plain and simple. We have closed below 78.6% support and heading towards 1.1238 / though I suggest taking care at 1.14 as it was the double bottom in 2013 => some support expected/
GBPEUR looks to continue its push to the downside following, a break and a 4 hour close below the; 1. trend line and 2. the 61.8% fib level. Confirming this is the breakout retest of the 61.8% level a major critical level along with the further confirmation from the moving averages which reflects the average consensus of value in price. All these...
- COULD SEE SOME SHORT TERM UPSIDE, BEFORE FURTHER DOWN TREND...
This line chart is very busy, comparing a few common GBP pairs. I thought it was useful to make this comparison to see what was happening with GBP by keeping the numerator common across the lot. Overall I find that GBP has been recovering in recent days, as BREXIT approaches. I had expected this phenomenon to occur. It does not mean that GBP will necessarily...
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BREXIT fever has hit the world of forex. I suggest these are the big three to watch: GBPUSD, EURUSD, and GBPEUR (or EURGBP). There is a macro-psychology operating out there I suspect. In times of trouble and uncertainty human nature tends to take the safe position. Hence Sterling has taken a step down for the moment because the reality is that 'everybody' wishes...
Possible trade setups from the ascending triangle. Could wait for a break to the upside or watch to see if the triangle continues to play out and buy at a later stage. Profit target is based on previous structural levels
We have what looks like a double bottom here. I entered this trade at 1.2762 but forgot to share, but there is still room to enter. RSI shows bullish divergence below the oversold point, which is a strong signal. My initial profit target is based on structure.
The primary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7665 and support at the level of 0.7525. If it breaks its resistance...
The Big Bubble ... as every time this time is different ... it's true this time the outbreak was unprecedented... QE effects from the beginning - start end 2008 S&P(orange) +186% - USD/JPY +22% USD/EUR +15% Nikkei (blue Mountain) +165% JPY/USD -22% FTSE100(blue points) +80% GBP/EUR +21% GBPUSD+3% DAX(green points) +201% EUR/USD -15% MIB Italy( brown points) +46%...
In the grand scheme of things it looks as though a shift is ready to take place. It has taken me some time to realize that shift but it is finally here. Take look at the GBPEUR to the left. Notice how its price moves are converse to that of WTI, EURUSD, and XLE. The yellow circles you see are areas where similar behavior is forming. In the GBPEUR the opposite...