EURGBP trade ideas
EURGBP Long ideaHello Traders, here is my analysis for EURGBP. Let me know if guys have any question. If you like my analysis please hit like. Thanks.
EURGBP. LONGwe can clearly see that after a long downtrend it bounce back to resistance level 2 and came down to resistance level 1 which is 50% fib retracement. Now to enter this trade we need to wait until it takes bounce from resistance level 2.
EURGBP PREFERS LONGThe counter EURGBP looks to be forming a head and shoulder pattern between ranges of 0.9000 and 0.8878. We see the neck support of 0.8878 holding strong the third time today. We look to buy at ranges of 0.8878 and 0.8900, maintaining stops below the neck line of 0.8878 and testing to reach 0.8980 to 0.9000. We recommend this move only for a short term or for just an intra-day trade.
As the head and shoulder pattern looks to be clear, we expect the neck line of 0.8880 as a strong support. Once this support breaks, we expect the counter to have an aggressive fall. In case of the neck break, go for shorts maintaining stops above 0.8890 to 0.9000 levels. The markets can try to hit lower levels of 0.8690 to 0.8670.
Great Chance - GO SHORT EURGBP - BIG DOWNTREND is WAITINGEverybody knows that head and shoulder is formed and waiting for the short entry. Here the time is:
Enter SHORT around 0.8965
Stoploss : Above Right Shoulder around 0.9014
Targets : 0.8920/0.8870/0.8700
Also do trendline as a trailing stoploss for capturing the entire downtrend.
NOTE : This is my suggestion and do your own analysis. There is a chance for stoploss hunting beware of it.
GO LONG on EURGBP M15 - Head and Shoulder formedPerfect Head and Shoulder pattern formed in EURGBP M15 and M30.
Enter Long (BUY) on 0.8910 after the neckline breakout
Set SL 0.8860
Set TP 0.8960
Note: This is my idea and let us see how market react
SELL EURGBP!!!There's a strong resistance here(weekly). So, we can take a nice short here for the target shown in the chart!!! Prices also showing good pullback downside so, it may be a good trade for us !!!
Also, last week prices take good upside route and a recovery to downside is strongly expected from here...
That's all for now...
Follow for more!!! :)
Don't miss the great sell opportunity in EURGBPTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9016). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURGBP is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.
Take Profits:
TP1= @ 0.8863
TP2= @ 0.8682
TP3= @ 0.8591
SL: Break Above R2
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BUY EURGBP!!!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 daily chart also.
It is a great opportunity in EURGBP to grab!!!!
Stay updated and follow me for more!!! :)
EURGBP Weekly PA , May 25-29Euro against pound , have the nearest support area at 0.89, and this week it will repeat the retest of area 0.90 and it will tend to fall against the pount..in the coming week..so this week. it may have sideway movement between 0.90 and 0.89
#EUR/GBP short 1D chart sitting on resistant .. and may reject . so you can take a short position here...
Don't miss the great buy opportunity in EURGBPTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.8877). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURGBP is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.
Take Profits:
TP1= @ 0.9015
TP2= @ 0.9165
TP3= @ 0.9317
SL= Break below S2
