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Scenario for today
Elliott: flat correction down 0.7970
Market should not go lower than 0.8013 - 0.7997. After this move down it should go up to 0.8038 - 0.8047 area.
Technical points
Key point 0.8010
Entry point 0.8034
Elliott 0.8065
Closing 0.8016
Projection 0.7970
Trendline 0.8060
Trendline 0.8055
Supports / Resistances
Res 2 0.8079
Ex-High 0.8060
Res 1 0.8047
Pivot 0.8029
Sup 1 0.7997
Ex-Low 0.8010
Sup 2 0.7978
Today’s technical analysis
Resistance 3- 0.8101
Resistance 2- 0.8080
Resistance 1- 0.8015
Pivot point- 0.8030
Support 1- 0.8001
Support 2- 0.7980
Support 3- 0.7915
According to h1 chart pair is come out from over sold level but it will not move more up. Price is rejected by 0.8030 and this may be falling near to 0.7980
eur/gbp technical analysis by using : average directional movement index
adx : 22.0956
+di : 14.2275
-di : 17.0877
timeframe : 1 hour
time : 0400
date : 19-11-2012
Eur/gbp technical analysis for 19.11.2012 by using : Auto pivot indicator.
resistance 3:0.8107
resistance 2:0.8084
resistance 1:0.8054
pivot point :0.8031
support 1:0.8001
support 2:0.7978
support 3:0.7948
EURGBP analysis:
ADX: Sell
RSI: Sell
MA: Waiting
Stoch: Buy
The pair is now closer to its daily pivot, if it broken, then the pair will likely rise towards 0.8050, but if it fails, 0.8000 will be the target.
EURGBP had touched and rebound from the 0.8007 support level on the last Friday. Basically EURGBP has a potential to go up and reach the resistance level at 0.8039. But if EURGBP can fall and break the 0.8007 support level, this pair may falls to the next support level at around 0.7979.
the price on today movement can move above that pivot line 0.8012. So, searching for buy here is better with SL bellow that pivot 0.8012
such as short-term trend is to the top and see that the price level of 0.8015 was tested formed a consolidation ... now there is a push to continue the movement ... so aim for at least a couple is 0.8070-75 ...
Today’s technical analysis ( daily time frame-20-11-12)
Resistance 3- 0.8110
Resistance 2- 0.8083
Resistance 1- 0.8068
Pivot point- 0.8041
Support 1- 0.8027
Support 2- 0.7999
Support 3- 0.7985
eur/gbp technical analysis by using : average directional movement index
adx : 34.4145
+di : 15.2017
-di : 8.8145
timeframe : 1 hour
time : 0400
date : 20-11-2012