Thread: Eur/Gbp
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analysis for today 11 / 26 / 2014
EUR/GBP
Resistance : R1 0.8011 R2 0.8036 R3 0.8056 R4 0.8086
Support : S1 0.7866 S2 0.7841 S3 0.7821 S4 0.7791
Open : 0.7938
High : 0.7941
Low : 0.7936
Range : 0.0005 Pips
Running Price : 0.7940
Strategy : SELL at the level 0.7940 stop loss at the level 0.8011 target take profit at the level 0.7821 or at the level 0.7791
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the blue dots appearing above the candle bars indicates that the price today is going to be heading upward depending on the prices position we are going to determine where the price would be heading so if the price remained in its position lower than 0.7865 which act as a strong support at this moment also it happens to be a weekly pivot point at the same time then I do believe that the price would be heading north only till it meets the next weekly pivot resistance at 0.7998 .
But what if red dots appeared indicating bearish trades and the price bypassed the support 0.7865 and headed for the opposite direction then I do believe that the price in this condition would be heading south until it reaches the price 0.7818 which is the next support and the next pivot level of the week.
.
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pair- eur/gbp
analysis time frame- m30
the price movement now in the channel pattern with having support at 0.7900 and resistance at 0.7940 level. its up movement is rejecting down side and may again to the support level. short with stop loss at 0.7955 and take profit at 0.7910
good luck.
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Spoiler:
Daily Forecast
Pairs: EURGBP
Major Trend: NEUTRAL
Time Frame: H4
Reason: Prices are still going to touch the weekly pivot for a correction in the price of 0.7938, before continuing the dominant bullish trend for the price of 0.7840 to trade long term. Can be seen a major trend remains bearish. RSI remains below the 50 line and still sideways. To this day it is safer to sell
Recommendation: Sell Limit at 0.7938 with targets 0.7898
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EUR/GBP arrived at as high as 0.8038 last week however turned around to close the week. Starting predisposition is turned unbiased this week first. Close term standpoint is impartial for the minute as EUR/GBP is near 0.7740/55 key support zone. Yet, it neglected to leap forward 0.8065 to affirm inversion. On the upside, break of 0.8065 will demonstrate bigger pattern inversion and focus on 0.8157 resistance first. On the drawback, maintained break of 0.7740 will convey bearish ramifications.
In the wake of shaping a major EUR/GBP top at 0.9805 (wave V), (A)-(B)-(C) remedy is unfolding with (A) leg finished at 0.8400 (A: 0.8637, B: 0.9491 and 5-waver C finished at 0.8400. Wave (B) has finished at 0.9413 and imprudent wave (C) has either finished at 0.8067 or may expand one more tumble to 0.8000 preceding prospect of an alternate rally. Current rupture of showed resistance at 0.9043 affirms our view that the (C) leg has finished and bring stronger bounce back towards 0.9150/54, then towards 0.9240/50. Close term viewpoint in EUR/GBP is impartial for the minute. The cross is near 0.7740/55 key support zone. Yet, it neglected to leap forward 0.8065 to affirm inversion. On the upside, break of 0.8065 will show bigger pattern inversion and focus on 0.8157 resistance first. On the drawback, managed break of 0.7740 will convey bearish ramifications.
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In perspective of this EUR/GBP, we are clutching our long position entered at 0.7940. Beneath 0.7900 would concede yet just a break underneath past resistance at 0.7862-64 would prematurely end and sign top has been structured rather, hazard shortcoming to 0.7799 support, having said that, it is important to see a drop beneath past diagram support at 0.7766 to affirm late decrease has continued for shortcoming to 0.7720-25.
In the rough decrease from 0.8806 is seen as a feature of the long haul amendment design from 0.9799 (2008 high). The cross is so far still supported above key support zone of 0.7740/55 (half retracement of 0.5680 to 0.9799 at 0.7740). Solid bounce back from current level, emulated by break of 0.8065 resistance, will affirm pattern inversion and turn standpoint bullish. In such case, we'd conceivably see a test on 0.8806 resistance. In any case, unequivocal break of 0.7740/55 will make ready to next key group support level of 0.7250 (61.8% retracement at 0.7253).
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
the blue dots appearing above the candle bars indicates that the price today is going to be heading upward depending on the prices position we are going to determine where the price would be heading so if the price remained in its position lower than 0.7865 which act as a strong support at this moment also it happens to be a weekly pivot point at the same time then I do believe that the price would be heading north only till it meets the next weekly pivot resistance at 0.7998 .
But what if red dots appeared indicating bearish trades and the price bypassed the support 0.7865 and headed for the opposite direction then I do believe that the price in this condition would be heading south until it reaches the price 0.7818 which is the next support and the next pivot level of the week.
.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
pair- eur/gbp
analysis time frame- m30
the price is in the strong down trend side as its rejecting from the resistance trend line. the price hold at the support 0.7900 level and may make a pull back setup. hold the short entry with profit target at 0.7842 level and stop loss at the 0.7956
good luck.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Daily Forecast
Pairs: EURGBP
Major Trend: Bearish
Time Frame: H4
Reason: The price has touched the Fibo 100, to continue the price to 161.8 or 0.7881 fibo area, the price must be corrected to 61.8 Fibo area or daily pivot point at 0.7940 before continuing the bearish trend. Currently, RSI and Stochastic has reached oversold.
Recommendation: Sell Limit at the pivot point at 0.7940 or 61.8 Fibo
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
pair- eur/gbp
analysis time frame- m30
the price has been break the lower support of the down trend channel pattern at the 0.7955 level as up movement is rejecting from the resistance 0.7996. the stoch indicator is moving below the 20 level and showing oversold. this will at the correction side. hold the short entry with stop loss at 0.7973
good luck.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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