Category Archives: EUR/GBP

EUR/GBP Potential Upside Move

Nenad Kerkez

The EUR/GBP is has a potential to break the range and proceed to the upside if we see a rejection off POC. POC comes within 0.8510-15 zone ( V shape, DPP, EMA89, trend line). If we don’t see a retracement to POC , pay attention to H1 close above descending trend line. The pair could reach 0.8550, 0.8575 and 0.8615 if there is a H1 momentum or 4h close above 0.8575. Additionally the pair rejected slightly above the bullish order block that is located just above L3 support. This further supports a bullish bias for this pair. more…

Elliott Wave Analysis On AUDNZD And EURGBP

Gregor Horvat

For those who cannot stay aside during the elections I recommend to look for non USD pairs, as they can be less volatile. Below I am looking at AUDNZD that I would be looking to trade, but after the elections results. Chart shows a clear pattern; five waves up from 1.0235, followed by a contra-trend reaction that can either be finished at recent low, or maybe support will be found near the 1.0350-1.0400 area by the end of the week. The price action is bullish and it suggests more gains while market is above the 1.0235 mark. more…

EUR/GBP Is Forming Reverse Bearish Divergence

Nenad Kerkez

The EUR/GBP is coming closer to important resistance and the price is forming reverse bearish divergence. As we can see on our daily chart, the price has formed bearish pinbar so it might reject off the zone and start retracement move. The possibility that the price might reject off 0.8855 zone towards H4 and H3 camarilla pivots gets even more pronounced if we see double top( or chart pattern close to double top). However if the price retraces to POC ( EMA89,61.8,bullish order block) within 0.8760-70 zone we might see another trend trading opportunity towards 0.8850 again. Have in mind that divergence is not confirmed until we see a double top-ish price. If it doesnt happen In the case the price proceeds further above the high, 0.8900 could be tested short term. more…

EUR/GBP Bearish Pennant For Fresh Shorts

Nenad Kerkez

The EUR/GBP has formed a bearish pennant at resistance and this might be the time to watch for short trading opportunities. 0.8400-20 is the zone for shorts – POC, H4 camarilla PP is making a confluence with the upper pennant trend line and the price might reject 0.8340 and 0.8295. If we see a strong momentum below 0.8295 or 4h close below it then 0.8240 is the final target. At this point traders should be focused on POC rejections towards 0.8340 first as we can spot a support there (pennant lower trend line, L3). more…

Elliott Wave Analysis On EURGBP And NZDUSD

Gregor Horvat

EURGBP: Intraday structure has changed a little in the last few hours, but nothing important for now. What really matter is that price move from recent high is slow and choppy; a clear personality of a contra-trend price move that suggests more upside in sessions ahead since we see wave four here on one our chart. Ideally fifth wave will lift price up to around 0.8700 or maybe 0.8800 by the end of the week. more…

Markets React To Shock Brexit Outcome

Fawad Razaqzada

As it became clear that the outcome of the UK referendum was going to be an exit from the EU, the pound literally got pounded as it dropped from an overnight high of 1.50 to sub 1.33 when the news was confirmed, while the FTSE tanked nearly 10% at the open. Most people were undoubtedly wrong-footed given how confident some betting companies were in pricing in the odds for remain. Naturally, the markets have rebounded sharply off their lows as you would expect. Profit-taking and dip buyers have, for now, provided some relief. Traders who have not yet expressed their views are starting to come back into the markets as key levels are re-tested, so volumes and volatility should remain high for a while yet. Given what has happened, most speculators are likely to step in and fade the rallies rather than buy the dips. more…

Elliott Wave Analysis On Silver And EURGBP

Gregor Horvat

Silver spiked up to 161.8% Fibonacci extension level of wave 1 measured from wave 2, which is the most important projection for wave 3. Notice that price turned immediately lower after that level was touched earlier, so we can say that price is now in wave 4 pullback which may look for a support once again near 17.60. If from any reason price will go straight down beneath 17.41 then overlap with wave 1 will suggest that top is in place, but temporary only since trend on higher time frames look very bullish. more…

EU Referendum Watch: Brexit Not Necessarily A Positive Outcome For EUR/GBP

Fawad Razaqzada

Next week could be a big one for the EUR/GBP due to the large number of market-moving economic data from both the UK and the Eurozone, and the ECB’s policy meeting on Thursday. In addition, traders are still trying to figure out that if Britain were to vote to leave the EU, would this necessarily be a bad or good outcome for the economy in the long run. If bad for the UK, it could be just as bad or even worse one for the Eurozone. Therefore, should the EUR/GBP pair continue pushing higher? Well, this week the cross has actually dropped, not because the GBP had anything to do with it, but rather the euro weakened across the board. The EUR/USD, for one, could not break through the 1.1450 barrier after several attempts and as a result the pair dropped for a time to below 1.1250 as the market tried to find the fair value amid the changing expectations about the next Federal Reserve rate increase due to the disappointing US macroeconomic data. more…