|Day's range||0.883 - 0.883|
|52-week range||0.88346 - 0.88297|
The British pound had a rough week, and that of course help the EUR in this market. It looks as if the 0.88 level will continue to be supportive, and that we should go looking towards the 0.90 level above, given enough time.
The EUR/GBP pair has been very noisy during the trading session on Friday, exploding to the upside in reaching towards the 0.8850 level.
The Euro continues to experience headwinds in the short term as traders remain cautious due to knock-on effects from the Pound as political concerns remain about the Brexit. However, the Euro is intriguing moving forward and may find buyers who believe it should be valued higher.
This week will be all about the central banks. Four major institutions will have their interest rate decisions: FED, ECB, BoE, and SNB. From that four, only in US, we should see some changes. Currently, on the markets, we can see three nice trading setups:
The EUR/GBP pair initially was negative during the week, but turned around to form a very bullish looking candle for the close.
The Euro’s relative tranquility the past two days may be positive for traders. Two key risk events will take place next week, the U.S Fed interest rate decision, and the U.K and E.U Brexit Summit. These events could be a positive lynchpin for the Euro.
The Pound ran into political problems, as the Brexit has stumbled into a disagreement between Northern Ireland politicians who are part of the U.K governing coalition. As the Brexit negotiations prove difficult again, the short-term dynamics of the Pound took a wicked turn late on Monday. Northern Ireland politicians have said they will not agree to a Brexit deal unless they get concessions, and it has caused chaos for the Pound in the short-term.
The EUR/GBP pair initially tried to rally during the week, but then fell towards the 0.88 handle. This is a continuation of the consolidation that we have seen for quite a while.
The market continues to look very choppy in the EUR/GBP pair, which makes quite a bit of sense as both currencies are starting to shoot much higher against the US dollar.
Following it’s reversal from 1.1960 during early-week, the EURUSD recently dropped below an immediate TL support, which if sustained could further fetch the pair down towards 1.1755; though, it’s additional declines might be confined by the 1.1730-20 horizontal-region. Should sellers refrain to respect 1.1720 mark, the 1.1665 and the 1.1615 may entertain them, breaking which can drag the quote to 1.1550 support. In case if the pair reverses from current levels, the 1.1875-80 and the 1.1910 could restrict its near-term advances while an upward slanting TL, at 1. ...
The EUR/GBP pair fell a bit during the trading session on Wednesday, as we have a bit more clarity on the fees that the United Kingdom will be paying the European Union upon exit. Because of this, we rolled over a bit and it looks likely that we are going to have a fight on her hands at the 0.88 level. This is an area that has been rather supportive lately, and of course was an area that found quite a bit of interest. ...
The Euro has beaten off short-term headwinds and resumed its high-water marks against the U.S Dollar as it approaches mid-term values. The potentially good political news may come from Germany regarding a coalition. The Euro is above the 1.19 level against the U.S Dollar and the question all speculators want to receive an answer for – is if the Euro can hold onto these marks and build a foundation for further gains?
After slumping recently, the Euro has made a remarkable recovery last week against its US counterpart on the back of strong data from the Eurozone and worries over the number of rate hikes to be delivered from the US Federal Reserve over the coming year. This is a very broad-based looking upturn,” said Chris Williamson, a chief business economist at IHS Markit. An even bigger boost for the Euro against the US dollar this week was the latest Minutes meeting from the US Federal Reserve, where many Fed board members raised concerns on the number of rate hikes that need to be delivered over the next 13 months.
The EUR/GBP pair continues to be very volatile, bouncing around in a tight range yet again. It looks as if the 0.88 level underneath is going to continue to be supportive, while the 0.90 level above is resistance. The weekly candle is a bit of a hammer, and if you look at the bodies of … Continue reading EUR/GBP Price forecast for the week of November 27, 2017, Technical Analysis
The EUR/GBP pair has essentially gone back and forth during the trading session on Tuesday, hovering around the 0.8860 level. The market continues to be very difficult to deal with for many of my trading friends, as the choppiness is extraordinarily strong here. I think that if the market continues to drop from here, we … Continue reading EUR/GBP Price Forecast November 22, 2017, Technical Analysis
The Pound has traded in a rather tenuous range mid-term as it stays highly valued but gets pushed back by consistent resistance. Bank of England Governor Mark Carney is speaking today about inflation, and traders may find opportunities within the Pound. Pound Near Important Trading Juncture The Pound continues to put in higher valued range … Continue reading Pound Capable of Producing Opportunities
The EUR/GBP pair fell during the day on Monday, dropping down towards the 0.8880 level, and then went sideways in a violent back and forth manner on the hourly chart. We then fell again, and it looks as if we are ready to drop towards the 0.88 level underneath. That area has been important more … Continue reading EUR/GBP Price Forecast November 21, 2017, Technical Analysis
The Euro has seen a vast amount of turbulence today and is likely to remain fast as political developments from Germany sweep into forex. Technical trading will likely be impactful over the coming days as the Euro tries to find an equilibrium. German News Challenges Traders Short-term traders of the Euro are literally swimming among … Continue reading Euro Traders Swimming with the Sharks
The GBP/USD has been making a progressive trend move towards 1.3310. However, there is still resistance out there that needs to be taken away. The pair has formed W bullish pattern and the POC zone is wider today due to Friday’s price action and confluence tools. 1.3195-1.3225 is the POC zone (W, Order block, ATR … Continue reading GBP/USD Progressive Trend Towards 1.3310
The EUR/GBP pair rallied significantly during the week, slicing just above the 0.90 level at one point. However, we turned around to break down and fall into the middle of the consolidation area that the market has been paying attention to for some time. The 0.88 level underneath is massive support, while the 0.90 level … Continue reading EUR/GBP Price forecast for the week of November 20, 2017, Technical Analysis
The EUR rallied significantly during the trading session on Tuesday, breaking above the 0.89 handle. This is a very strong sign, and I believe that the market is likely to pull back a bit to find buyers near that handle again. Ultimately, the market should continue to go towards the 0.90 level above, which has … Continue reading EUR/GBP Price Forecast November 15, 2017, Technical Analysis
EURGBP bounces from the ultra-important support on the 0.875 and aims higher breaking the mid-term down trendline and coming back above the long-term up trendline. That should be perceived as bullish and the potential target for this movement is on the 0.902. EURUSD denies the huge head and shoulders pattern and after drawing the double … Continue reading EURUSD denies the H&S pattern. EURGBP with a buy signal
The EUR/GBP pair gapped higher at the open on Monday, and then shot towards the 0.8925 level, an area that has been resistive in the recent past. We are starting to roll over from there, and at this point I think this means that we are going to go looking for value underneath. The British … Continue reading EUR/GBP Price Forecast November 14, 2017, Technical Analysis