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Attachments: EUR/GBP - What a great pair to trade!
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EUR/GBP - What a great pair to trade!

Hi mate! I counsel you wait. If you check your 15 minutes or H1 time frame carefully you will see that the price action has formed a symmetrical triangle (or pennant?). Put a 50 SMA on the H4 time frame (or 200 SMA on H1 time frame) and see how it rejects the weekly central pivot (around 0.92066) and bears southward. Much likely a short trade may be in the offing. But please trade what you are seeing on your system.

I may be wrong. Trade safe and prosper.

KP



Quoting bogus
{quote} If it does hit that blue line it would make a perfect channel. I reversed my short and went long at the break of the magenta line but have been stopped out. I'm waiting for another entry on lower timeframes.
Do your homework, follow the footprints of smart money
I've just gone long with a tight stop.
FF journal: Peaks and Troffs
It looks like this to me , will be looking for a buy signal....

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its all just one persons opinion....
Quoting axecap
It looks like this to me , will be looking for a buy signal.... {image}
Have placed a long at .9113 lets see if we can get to .9193
its all just one persons opinion....
The pair is consolidating after key reversal candle last week, maybe it will lead to potential trend changing.
Quoting axecap
{quote} Have placed a long at .9113 lets see if we can get to .9193
well...that ended abruptly....
its all just one persons opinion....
Lower trend line hit. Waiting...
FF journal: Peaks and Troffs
Quoting csc2009
The pair is consolidating after key reversal candle last week, maybe it will lead to potential trend changing.
The trend changed a week ago.
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Conventional trading is for losers
Such a lovely short trend. I be holding my shorts for a long time now and sleep well a few months ahead. GBP is recovering and EUR is time to weaken a litte as it was too strong recently.
Dear community,

I am new here and also quite new to the Forex thing so please excuse the maybe stupid question. But why did the pound rally against the euro when inflation data came out today (Sept 12th, 09h30 UK time)? Inflation was above the expected 2.8%. Isn't inflation negatively correlated with currency values (i.e. if inflation rises, currency depreciates)? Of course, a gazillion of other factors are at play but economic data on UK does not look that rosy either? So why the sudden drop of the EUR against the pound? see chart
many thanks for any enlightement

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Quoting phantomaz
Dear community, I am new here and also quite new to the Forex thing so please excuse the maybe stupid question. But why did the pound rally against the euro when inflation data came out today (Sept 12th, 09h30 UK time)? Inflation was above the expected 2.8%. Isn't inflation negatively correlated with currency values (i.e. if inflation rises, currency depreciates)? Of course, a gazillion of other factors are at play but economic data on UK does not look that rosy either? So why the sudden drop of the EUR against the pound? see chart many thanks for...
More GBP strength than Euro weakness. Although both the Euro & DXY are showing signs of a decent retracement in progress
Conventional trading is for losers
Quoting Ralffe
{quote} More GBP strength than Euro weakness. Although both the Euro & DXY are showing signs of a decent retracement in progress
But why was that? Economic outlook was tepid at best and inflation above expectation; why did GBP strengthen when news broke? Shouldn't it have been depreciated against EUR?
I'm expecting correction movement before further decline.
I shorted it just hours ago, @ 0.8788.
Long EG.
Less chance of a G rate hike(s) revealed today, and the big talking up of G recently is diminished by these recent comments--which I expect will result in a resumption of the EG uptrend.
I suggest it is retracing before the downtrend gets going again. I'm looking to short again at .8920. I expect .847 is achievable over the next week or two.
its all just one persons opinion....
Possible double bottom on 4 hour.
FF journal: Peaks and Troffs
i see price going up from cmp .8800 to .8950/.9000

then fall off to .84/0.800

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practising coitus interruptus
Thanks for all the posts on this thread, especially charts. At the moment I am playing with .8815 - 2013 highs - as is the price. A daily close below .8800 will see me loading shorts. (I use stop orders, pending orders). In simple technical terms, I see a bearish flag, and a strong daily close below .8770 leads to new lows like .8300. Very long term, very speculative and could be triggered by politics. There is a strong chance of higher inflation figures coming through and interest rate hikes will strengthen the Pound.

Chart:

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Gone to a better place
The weekly gives a good indication of how far this could go.
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Conventional trading is for losers
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