Eurgbpanalysis
EURGBP top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW
- There is not much important news today for EUR or GBP. But this week's LOW IMPACT for EUR, but some very important news will be released. So we definitely need to keep an eye on the EUR on Friday.
- EUR FEATURE currently stands at 1.0695 LEVEL. We can see a very UP TREND compared to the previous days. The reason for this is that ECB has given a very HAWKISH CENTRAL BANK UPDATE. It is located above the EURGBP DYNAMIC S / R LEVELS. Also the GBP FEATURE stays at 1.2720 LEVEL. The EURGBP PRICE is priced below the DYNAMIC S / R LEVELS. Therefore, most of the time the PRICE can be sold in the form of a STRUCTURE and BUY. Before that a RETRACEMENT can come to DYNAMIC S / R LEVELS.
- Currently the SENTIMENT of the OVERALL MARKET is NEUTRAL. But it's too heavy for RISK ON status. Also the EQUITIES are turning a bit GREEN. VIX INDEXES UP UP. Also COMMODITIES now shows a UP SIDE BIAS. Currently the market has NEUTRAL BIAS. But due to EQUITIES UP, COMMODITIES UP the MARKET RISK is ON. This MARKET CONDITION status has managed to DOWN CURRENCIES AUD, NZD, GBP.
- EURGBP PRICE can be DOWM to 0.8353 LEVEL before UP. Then you can UP to LEVEL 0.8498. Then you can UP to LEVEL 0.8498. Also the MARKET SENTIMENT may change this week. RISK can be ON. So stay tuned for how the ECONOMIC INDICATORS and MARKET SENTIMENT change.
EurGbp can correct to 0.8650Since January, EurGbp is trading in a 200 pips range between 0.8250 and 0.8450.
0.8250 at this moment is very strong support and the pair could correct higher to the next resistance at 0.8650
As long as support is intact, buy dips is my strategy for this pair and only a daily close under support would negate this scenario.
EURGBP is fluctuating in a neutraThe pair is fluctuating in a neutral range in weekly timeframe
At a shorter time frame it is descending into an ending channel that has reached the bottom of the long neutral channel.
It seems that it can be a good range to buy according to RSI and MACD indicators.
Fundamentally, the euro seems to have weakened enough against the pound over the past year, and signals from the euro to slowly raise interest rates could slowly push the pair toward its long-term channel ceiling.
Euro data should be monitored in the coming weeks
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EURGBP - FUNDAMENTAL AND TECHNICAL VIEW- Today we do not see such an important news for EUR or GBP as before. Because today is a holiday and today is Monday, MARKET LIQUIDITY is a very short day. GOV. There is a Bailey Speak this week. They will be very important for GBP.
- EUR FEATURE is currently trading at 1.08255 LEVEL. We can expect a very DOWN TREND compared to the previous days. This is because of the fact that ECB offers very DOVISH CENTRAL BANK UPDATES. It is located below the EURGBP DYNAMIC S / R LEVELS. Also the GBP FEATURE stays at 1.3026 LEVEL. The EURGBP PRICE is priced below the DYNAMIC S / R LEVELS. Therefore, most of the time the PRICE can be sold in the form of a STRUCTURE and BUY. Before that a RETRACEMENT can come to DYNAMIC S / R LEVELS.
- Currently the SENTIMENT of the OVERALL MARKET is NEUTRAL. But it's too heavy for RISK OFF status. Also the EQUITIES are turning a bit GREEM. VIX INDEXES UP UP. Also COMMODITIES now shows a UP SIDE BIAS. Currently the market has a NEUTRAL BIAS. But because of VIX UP, EQUITIES DOWN, COMMODITIES DOWN the MARKET RISK is OFF. This MARKET CONDITION status has managed to DOWN CURRENCIES AUD, NZD, GBP.
- The EURGBP PRICE can be UP up to 0.8303 LEVEL before UP. Then it can be DOWN to 0.8222 LEVEL. Then you can UP to LEVEL 0.8498. Also the MARKET SENTIMENT may change this week. RISK can be ON. So stay tuned for how the ECONOMIC INDICATORS and MARKET SENTIMENT change.
EURGBPThe euro is approaching a very important region on the longer-term charts as far as support is concerned. The 0.82 level being tested is a big deal, and if we were to break down below that level, the bottom will follow out of this pair. More likely than not, we will get a short-term bounce, but I would be a seller of that move because without a doubt the euro is one of the weakest currencies that we currently deal with. If we do get that breakdown, it will become a longer-term position.
EURGBP lower in sloping channel patternPrice action is consolidating break below daily cloud, Chikou span is biased lower
The pair is trading below major moving averages which are trending lower
EUR/GBP grinds lower in sloping channel pattern, scope for further weakness. Bears target channel base at 0.8220.