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Obviously in front of us on the EURGBP chart we can clearly see that there is a down trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located Below trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located sell orders would be the wisest decision once a bearish direction is confirmed by the other indicators .
Also there are dots located Above the candlesticks from the parabolic sar indicators showing us downward direction adding to that the upward signal formed by the cci line when it got located at the higher level .
Also to be sure we get a sell signal from the MACD indicator as it was moving Below the level 0 .
So In the end I do think selling would work greatly for me according to what we witnessed up till now unless an opposite bullish signal appears .
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While monitoring the EURGBP I came to realize that a bearish trend is being formed today on the chart and of course I came to that conclusion because of the red signal performed by the super trend indicator giving me a hint on where the market supposedly would be heading.
The Nolog dot indicator giving us a blue colored dot indicating that a buy signal should be taking place soon.
A weak bearish trend is indicated by the signals encouraging us to take sell trades but that of course as soon as the Nonlog indicator changes its signal to make another confirmation for this direction.
In order to be safe we should think of the best position to act as our stop loss I believe the resistance located at the price 0.7995 would be the perfect place for that but if this method is not convincing enough then waiting for the super trend’s color to change to green would be a good idea as well since the bearish trend would certainly be over if it met any of those conditions .
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The color of the moving average indicator make a change to be a green side by side with the change of the color of the candles to be a green color too and this is a great chance for having a good bullish trend on the chart of EURGBP trend on the chart of red dots as you can see below the zero's level to add strength to the scenario of bearish trend if occurs.
Now I will choose the side of bullish trend and prepare for opening a buy orders at the nearest chance and I think to set my target level at the 0.8005 price as I think it may affect the price because of being a strong resistance this if the price remain above the 0.799 level which is the key support for me till the opening of new york session .
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We can notice that there is a bullish cross now on the EURGBP chart between the EMAs 9 and 152 which indicates that the price could go north in few hours.
Also if we notice the Histogram indicator we can find that it forms a green line to form a bullish signal by located over the 0 level of the Histogram indicator.
There is another green line is found on checking the Market Emotion indicator that is a good sign to start to rise for higher levels on the EURGBP The slope is moving above the level of 0 as the Guru Angel indicator shows also the green color indicates a bullish direction.
As we can notice the price may go north to reach the next resistance at the next few hours so I recommend a 0.8059 in the next few hours so it is recommended to enter buy orders as the indicators still showing the same signals.
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For the EURGBP pair the price now lower than the 15 EMA line there is a good chance for a bearish trend for the current day.
The power line indicator is now above the 50th level which can be an indication for a good upward direction of the signal.
At last one thing can be added is the power momentum indicator that shows a high power of the bearish trend and that can be used as a filter to filter the entry of sell positions .
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The location of the blue line is currently taking place above the red line on the momentum cross on the EURGBP chart which is a good buying signal.
On the other hand there is probability for a upward trend to take place based on the blue color appearing on the chart by the Oracle strength indicator.
Adding the bullish trend showed by the Oracle direction indicator to the signals we had from the Oracle direction indicator based on its blue arrows appearing on the chart confirming by that the entry point appearing by the Oracle Strength indicator.
Clearly there is a upward trend taking place on the pair for some time and as long as the indicator keeps giving me the same signals then i do think that the buy orders are the best choice.
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The first thing that I can see on the EURGBP chart is the buying signal because the blue arrow that you see from the EMA cross over indicator as the red line comes above the blue EMA which is a good buy indication.
The slopes of the QQE indicator moves above the fifty level and also it have a buy cross between the lines.
For my own trades I'm thinking about buy the pair and target the resistance that the price should reach at 0.7975 and I will not use any stop loss but I will close it if I got a sell cross and then an opposite arrow from EMA crossover indicator .
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For today 21/11/2014 on the EURGBP chart the price is below the grey level 0.8 that considered as resistance point at MBFX indicator.
In mean while the Vestro indicator is showing a bullish saturation.
I can guess that the price may go down till the next MBFX level at the support of the value 0.7985 as first selling target and could reach the second support at 0.7971 but if the price breaks the level of 0.8009 then the down direction will be cancelled and we should think in buying http://bigimage.cz/photos/20141121141655677180671.gif
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The trend on the EURGBP pair can be recognized as a bullish one because of the up blue arrow below the current prices again there is a cross occurs on the Snake and T2_clean indicator on front of you.
Then buy will be my choice for now and I will target a prices near the resistance area of 0.802 as my first take profit to set and then I can look for reaching a new levels if the price can break it up and to act more safer I will choose the support which you can find at 0.7975 as a good stop loss level or if I get a different signals with either a sell cross or a red down arrow is shown .
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As you can mention on the picture the EURGBP have a bearish channel drawn on the price movement.
Also the colored MA is now red which means that the price is looking for more down moves on the short term.
According to the daily opening compared with the Pivot levels the price make an opening at a lower prices than the 0.7996 which is the price of the Pivot point of the day and I consider such opening as a down signal to reach the first support at the price of 0.798 this is because if I didn't get any upward signals from the WPR indicator.
Close after the target is reached is an option but you can keep selling to target the last support of the pivot at 0.7965 if you wish .
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