FX:EURGBP
As you can see that, EURGBP has created a Trendline resistance in 1Hr Time frame and if it gives breakout then we can plan for buy side. Take retest entry and it is for monday ( 31-07-2023) Plan your trade accordingly...
market is currently downtrend in higher timeframe. here market has broken the LL and form an new LL which indicates that market will further continue downtrend. so the idea for this trade is also to sell the market from a high interest area, from the picture you can see that after market formed new LL it shoot up to fill the imbalance price left open and broken...
EURGBP is trading in ascending Rectangle.
Resistance and Support levels are respected as shown in chart.
Now price is at Resistance level.
RSI showing overbought too.
Full confirmation is there, setup your trade. Going to show some correction.
Tell your opinion in comments!!
When it comes to the technical analysis of EURGBP, you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If the price breaks Target 1, you may keep the position till Target 2. If you are going in, better find a pullback. I have marked a good entry area on...
Condition:-
1. Daily Channel Formation
2. W formation
3. COT data - 1. EUR ⬆️ 2. GBP ↕️
4. Bullish Momentum
Entry/SL/TP:-
1. Enter the market when price drops back to the entry level
2. Enter on 4hr for better entry
On Friday, EURGBP hovered around 0.89400 levels which holds a good support according to both Bollinger Bands and trend channel formed in 4 hr chart.
So, we can long this pair for approx. 0.90100 levels as take profit. It has high chances that price will test that range this coming week or maybe higher as we see from a Daily perspective.
So, we are bullish on...
The weekly right side is up with a bullish sequence against the .6920 lows from 7/17/2015. The daily right side is up with a bullish sequence against the .8272 lows from 12/13/19. The 4 hour right side is up with a bullish sequence and the hourly is turning up against .8679. While above there the pair can see a turn higher.
The weekly right side is up with a bullish sequence against the .6920 lows from 7/17/2015. The daily right side is up with a bullish sequence against the .8272 lows from 12/13/19. The 4 hour right side is up with a bullish sequence against .8561. While above there the pair can see a turn higher.
Short term signal
@87.14- 87.04
TARGET : 87.94
STOP LOSS:...
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