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Thread: Fbs

  1. #331
    pedagoreng is offline Senior Member
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    The last bullish "Hammer" led to the current upward price movement. There's no any reversal pattern, so we should keep an eye on the 89 Moving Average, which could act as resistance. If so, there'll be time for a bearish correction.



    There's no any bearish pattern because all the last candles are bullish. Also, the price has broken the "Window", which acted as resistance many times before. So, it's likely that the pair is going to test this "Window", which could act as support this time.

  2. #332
    pedagoreng is offline Senior Member
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    The market is consolidating along the Moving Averages. Also, there's a "Shooting Star" pattern, so the pair is likely going to test the nearest support, which could be a departure point for a bullish price moment in the direction of the next resistance area.




    There's a bearish "Doji" pattern, which hasn't been confirmed yet. Therefore, the price is likely going to test the closest support during the day. If any bullish pattern forms little later on, there'll be a moment for a local upward price movement.

  3. #333
    pedagoreng is offline Senior Member
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    Technical levels: support – 1.2380; resistance – 1.2450.

    Trade recommendations:

    Buy — 1.2380; SL — 1.2360; TP1 — 1.2480; TP2 — 1.2520
    Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines and narrowing channel Tenkan-Kijun; the prices returned to the positive area and may continue uptrend.


  4. #334
    pedagoreng is offline Senior Member
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    Technical levels: support – 1.3930; resistance – 1.4010.

    Trade recommendations:

    Buy — 1.3940; SL — 1.3920; TP1 — 1.4010; TP2 — 1.4070.
    Reason: narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices returned to the positive area and the Bulls looks strong to continue market’s growing.


  5. #335
    pedagoreng is offline Senior Member
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    Recommendations:

    SELL 0.8820

    SL 0.8875

    TP1 0.8745 TP2 0.8715

    On the daily chart, EUR/GBP keeps consolidating in line with the “Spike and ledge” pattern on the basis of 1-2-3. The attempt of the bulls to hold at 0.8925 targeting 161.8% of the junior AB=CD failed. As a result, bears seized the initiative.



    On H1, EUR/GBP reached the target of the “Widening wedge”. A break of support at 0.8820 will increase the risks of a “Shark” pattern with a target at 88.6%. The nearest resistance is near 0.8875.


  6. #336
    pedagoreng is offline Senior Member
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    There's a bullish "Flag", so the market is likely going to test the next resistance at 1.3996 - 1.4069. This area could be a starting point for a decline towards another support at 1.3928 - 1.3888.



    The price is still consolidating in a range of the developing "Flag" pattern. Also, there's a pullback from the Moving Averages, so the pair is likely going to test the closest resistance at 1.3996 - 1.4023 in the short term.

  7. #337
    pedagoreng is offline Senior Member
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    The main trend is still bullish, but there's a "V-Bottom" pattern, so the market is likely going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline.



    There're two "V-Bottom" patterns in a row, so it's time for a bullish correction. The main intraday target is the nearest resistance area at 1.2313, which could be a departure point for a decline in the direction of the next support at 1.2254 - 1.2233.

  8. #338
    pedagoreng is offline Senior Member
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    There're bearish patterns such a "Tower" and a "Shooting Star", which both have been confirmed. So, the market is likely going to test the 144 Moving Average, which could be a departure point for another bullish price movement.



    The last bearish "High Wave" pattern led to the current decline. It's likely that the pair is going to test the next support area in the short term. If any reversal pattern forms afterwards, bulls will probably try to deliver an upward price movement.

  9. #339
    pedagoreng is offline Senior Member
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    The pair has been rising since the last "Engulfing" pattern formed. The main target is the 89 Moving Average. If a pullback from this line happens little later on, there'll be a moment for another decline.



    There's a bearish "High Wave" pattern, which hasn't been confirmed yet. So, if a pullback from the Moving Averages happens, bulls are likely going to test the upper "Window".

  10. #340
    pedagoreng is offline Senior Member
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    Recommendations:
    SELL 0.8785 SL 0.884 TP1 0.8695 TP2 0.8525 TP3 0.845

    SELL 0.881 SL 0.8865 TP1 0.8695 TP2 0.8525 TP3 0.845

    On the daily chart of EUR/GBP, there is a continuation of a medium-term consolidation in the range of 0.8695-0.9015 within the “Spike and ledge” pattern. The first break of its bottom line was unsuccessful, however, bears still hope and are ready to repeat the break after a small pullback.



    On H1, there is a transformation of the AB=CD pattern to 5-0. Usually, pullbacks in the direction to 38.2%, 50%, and 61.8% are used for a formation of short positions.



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