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EUR/GBP - What a great pair to trade!

  • #2,241
  • Jan 9, 2014 2:41am Jan 9, 2014 2:41am
It doesn't get much simpler than this really. Last week's close a strong lower low. Yesterday's close a strong lower low. Today we retest those lows at around .8272. I'm looking for a reversal at that area.

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp140109d1.JPG Size: 84 KB
Gone to a better place
  • #2,242
  • Jan 9, 2014 7:03am Jan 9, 2014 7:03am
Looking above 8280 to go long
  • #2,243
  • Jan 9, 2014 8:11am Jan 9, 2014 8:11am
That sounds a bit too advanced for me.
Gone to a better place
  • #2,244
  • Jan 10, 2014 6:29am Jan 10, 2014 6:29am
in no time BOE will increase interest rates and cut asset purchases and ECB is likely to either lower interest rates. Ill short this pair
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Pecuniae obediunt omnia
  • #2,245
  • Jan 20, 2014 3:01pm Jan 20, 2014 3:01pm
Whos watching this level. .8230

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  • #2,246
  • Jan 21, 2014 9:00am Jan 21, 2014 9:00am
Up
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  • #2,247
  • Jan 21, 2014 12:42pm Jan 21, 2014 12:42pm
Looking to short this pair, might make a quick run to 0.82 then who knows. Its been in a good trend with GBP smashing higher and EUR just chopping looking to go lower.
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All posts are my personal opinion
  • #2,248
  • Jan 21, 2014 12:47pm Jan 21, 2014 12:47pm
Quoting Rtm
Looking to short this pair, might make a quick run to 0.82 then who knows. Its been in a good trend with GBP smashing higher and EUR just chopping looking to go lower. {image}
Agree with you on this. It is easy profit taking trade. It will go below all the way to 0.8150 by end of this week.
  • #2,249
  • Jan 21, 2014 12:57pm Jan 21, 2014 12:57pm
Quoting iwishtowin
{quote} Agree with you on this. It is easy profit taking trade. It will go below all the way to 0.8150 by end of this week.
This one is a no brainer IMO
All posts are my personal opinion
  • #2,250
  • Jan 21, 2014 4:40pm Jan 21, 2014 4:40pm
Doesn't look like a no brainer to me, guys. In fact, I think it will be bullish from here. I'm long EURUSD right now, and I think GBDUSD will also go up, but EURUSD will be stronger, I believe. I'm not in in this pair, but there is definitely risk to the upside from here.
  • #2,251
  • Jan 22, 2014 3:54am Jan 22, 2014 3:54am
eek!
  • #2,252
  • Jan 22, 2014 4:05pm Jan 22, 2014 4:05pm
Quoting iwishtowin
{quote} Agree with you on this. It is easy profit taking trade. It will go below all the way to 0.8150 by end of this week.
Hit my first target today im at BE, got two more positions rolling. How are you managing this one?
All posts are my personal opinion
  • #2,253
  • Jan 22, 2014 4:38pm Jan 22, 2014 4:38pm
Quoting Rtm
{quote} Hit my first target today im at BE, got two more positions rolling. How are you managing this one?
Shorts right? How long are you planning on holding it, end of the week or until it turns?
  • #2,254
  • Jan 22, 2014 5:46pm Jan 22, 2014 5:46pm
Its seems that EUR/GBP is the best pair to long right now. A pull-back is eminent
Attached Image
  • #2,255
  • Edited Jan 23, 2014 12:00am Jan 22, 2014 11:14pm | Edited Jan 23, 2014 12:00am
Hi Forex Community!
Here is my contribution of my view and tradesetup

EURGBP forecast Analysis and Trade Setup 23rd Jan, 2014
Daily Chart
http://2.bp.blogspot.com/-v_JGNVMMYf...1-23_14-33.jpg

  1. We have broke major Support with a big Bearish day candle yesterday
  2. Clearly still in a downtrend
  3. Currently found expected support at the 127.2 extension / 161.8 extension
  4. We expect further push down slightly before a counter trend trade where a stronger support at the confluence levels of (as highlighted in blue box)

    1. Monthly PIVOT S2
    2. 61.8% retrace from a big uptrend on a daily
    3. 200 fib ext of the most recent reverse retrace of the down trend (sorry i don't know the correct word for this)
    4. 141.4% fib ext of oct 29 to dec 02 down swing (fib level not shown on graph)
    5. 161.8 fib ext (old level, which was previous s/r

4hr Chart
http://4.bp.blogspot.com/-mDMJ8YR_wh...1-23_14-33.jpg

  1. Clear down trend
  2. The 4 hour chart is a zoomed in scenario of my trade setup where we can identify smaller swings and calculate more accurately the fib ext levels for entry.


Hourly Chart
http://3.bp.blogspot.com/-nGTzUENlLB...1-23_14-33.jpg

 

  1. Clear Down Trend
  2. On the hourly chart we are looking for a retrace of our broken support which now is resistance
  3. We can enter at the 161.8 fib ext and have stops above 200 fib ext - this is a trend trade


Outlook Trade opportunity
Two opportunity
1st - Trend Trade - see hourly chart
2nd - trade is counter - see 4hr / daily chart
Risk Level LOW

Tips -
Always take note of any economical news event on our provided calender below

Only the strong survives!
  • #2,256
  • Jan 22, 2014 11:36pm Jan 22, 2014 11:36pm
Quoting htsang
Hi Forex Community! Here is my contribution of my view and tradesetup EURGBP forecast Analysis and Trade Setup 23rd Jan, 2014 Daily Chart {image} We have broke major Support with a big Bearish day candle yesterday Clearly still in a downtrend Currently found expected support at the 127.2 extension / 161.8 extension We expect further push down slightly before a counter trend trade where a stronger support at the confluence levels of (as highlighted in blue box) Monthly PIVOT S2 61.8% retrace from a big uptrend on a daily 200 fib ext of the most recent...

You have a good scenario for what could happen
  • #2,257
  • Jan 23, 2014 7:09am Jan 23, 2014 7:09am
Congratulation to everyone who went long
  • #2,258
  • Jan 23, 2014 12:30pm Jan 23, 2014 12:30pm
I closed some shorts, Does that count?

Anyway. Congratulationas:

Inserted Video
Gone to a better place
  • #2,259
  • Jan 23, 2014 12:32pm Jan 23, 2014 12:32pm
Quoting htsang
Hi Forex Community! Here is my contribution of my view and tradesetup EURGBP forecast Analysis and Trade Setup 23rd Jan, 2014 Daily Chart {image} We have broke major Support with a big Bearish day candle yesterday Clearly still in a downtrend Currently found expected support at the 127.2 extension / 161.8 extension We expect further push down slightly before a counter trend trade where a stronger support at the confluence levels of (as highlighted in blue box) Monthly PIVOT S2 61.8% retrace from a big uptrend on a daily 200 fib ext of the most recent...
htsang

Superb analysis and thought provoking. That must have taken a lot of work. Many thanks.
Gone to a better place
  • #2,260
  • Jan 23, 2014 12:53pm Jan 23, 2014 12:53pm
Quoting smikester
I closed some shorts, Does that count? Anyway. Congratulationas: http://www.youtube.com/watch?v=CUOjuhAld54

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