Forum - That EURGBP Again (Topic)

Dublin, Ireland

Posts: 49

14 years ago

Apr 21, 2011 12:01

Thanks Ashraf. Your yesterday's $eurgbp tweet gave me a trade idea. Here it is as I am streaming it live through twitter :) >>http://tradersisland.blogspot.com/2011/04/current-trade-live-sold-eurgbp-08873.html <<

and it worked out pretty well. I don;t normally trade this pair but I have good spread with CMC :).

Rgds,

@RiskVReward

www.twitter.com/RiskVReward

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Apr 1, 2011 12:50

eurgbp continues to react at fib target levels and then reverses back up to make new highs. Kissed the 161.8% level yesterday (8844). Next upside level test of 8942 high. Trend support 8730 as of today candle.

Rob

New York , United States

Posted Anonymously

14 years ago

Mar 31, 2011 2:50

Thanks Ashraf - I actually decided to stay in the EUR/GBP short, I'm +20pips - seems like the weekly trendline is the key support to this pair - 0.8750 - and obviously ECB's rate decision is key.
I'll keep an eye the other EUR pairs you mentioned - looks like the double-tops are on the weekly charts - thanks! And best of luck with the new Premium FX Service! All of your followers have been waiting for this day.

Ashraf Laidi

London, UK

Posts: 0

14 years ago

Mar 29, 2011 0:30

Rob, keep aneye on that emerging double tio in many of the euro pairs. EURUSD and EURCAD. We might see more downside in EURAUD if todays charft doenst look like a doji. Theres more downside in dailychart but thas more likely to be in the form of falling EUR then rising AUD.

Ashraf

Rob

New York, United States

Posts: 305

14 years ago

Mar 28, 2011 23:39

Thanks - I went short at 0.88 so Ill bail on this pain-free. Much appreciated!

Ashraf Laidi

London, UK

Posts: 0

14 years ago

Mar 28, 2011 23:27

ROb, This has turned totally the other way. From 1st look at latest dailies, i'd say 0.8830s is surely viable but not sure if enough momentum to break 08930s in which case would make break the cycle of lower highs since Jan 2009.

Ashraf

Rob

New York, United States

Posts: 305

14 years ago

Mar 28, 2011 23:19

Closed above 0.88 today - any thoughts anyone? Thanks

Rob

New York, United States

Posts: 305

14 years ago

Mar 28, 2011 18:57

Has the 0.88 resistance just turned into support? Anyone get in on this pair?

Ashraf Laidi

London, UK

Posts: 0

14 years ago

Mar 21, 2011 15:58

Heres the latest;

EURGBP breaks above its 100-week MA of 0.8660, and is now nearing the 0.8770 barrier alerted in the latest HotChart Daily stochastics and RSI point to BEARISH DIVERGENCE.

Tomorrows UK Feb CPI could strengthen expectations of a BoE rate hike and drag down EURGBP in the event that the 4.2% print does materialize. With UK inflation twice as much as that of the Eurozone, the case for a BoE tightening remains stronger. But all of these are details impacting the short term dynamics of EURGBP.

More negative US data (-9.6% decline in existing home sales) will not help the case for removing QE2. Silver and Gold attempting to regain their Mar 7 highs. Long term picture
remains favourable for silver relative to gold and the 38.50-70 stands as the next short term target. The metal is expected to regain its $49 high before end of this summer.

Ashraf

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Mar 21, 2011 15:49

I suspect eurgbp may well have topped out, any short play could have stop at 8765