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EUR/GBP Bounces at Support

fxsurprise8 投稿日: 2016年12月31日。分析予想通貨ペア:EUR/GBP, 予想レート: 0.85216, 予想日: 1日2月, 12:00 GMT  in #Technical analysis #GBP #Euro #Support #Resistance #Eurozone #EUR/GBP #Pound #Levels #Brexit
The EUR/GBP finally ended its post-Brexit slump by bouncing at the support area noted on the chart below. Price bottomed out at 0.8304 during December, just below the 0.8327 support and above the 0.8248 support level. With the downtrend over, I'm not willing to bet on major increases in this pair yet.
The reason why can be seen on the picture below. During December we moved between a high of 0.8304 and a high of 0.8666. This is a fairly small amount for a major currency. But what really paints t…
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fxsurprise8 2017年01月31日

The EUR/GBP opened the month at 0.8510 and is now quoted at 0.8579, not even 70 pips higher. The range-bound behavior this continues for a second month.

As we said in our original post, during December the pair had an open to close range that was at only 54 pips.

The current price is only 60 odd pips away from my target, so hopefully we'll get a small drift lower into month end.

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EUR/GBP Enters a Cluster of Levels

fxsurprise8 投稿日: 2016年11月30日。分析予想通貨ペア:EUR/GBP, 予想レート: 0.8468, 予想日: 2日1月, 12:00 GMT  in #Technical analysis #GBP #EUR #Europe #Support #Resistance #Eurozone #EUR/GBP #Pound #Levels
The Pound is not having a good year. It's down against almost all majors and that includes the Euro as well. This pair initially rallied to a high of 0.9326 this year, over 2,000 pips above he lows hit in November of last year. But as we can see on the first chart below, that may be changing.
We're now quoted at 0.8468, almost 900 pips below the highs. Notice how the EUR/GBP is now entering a cluster of levels, both resistance and support. On the downside we have 0.8248 and 0.8335. On the upside…
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fxsurprise8 2016年12月28日

I'm happy to report that the forecast is going according to plan! We are currently quoted at 0.8519, after having traded as high as 0.8571 and as low as 0.8300.

Both the current price and the monthly range are well within the bounds I outlined in my original forecast, support at 0.8248 and 0.8335, resistance at 0.8729 and 0.9326, among many other levels.

The pair has so far acted as i should, bouncing between these support/resistance levels. With the end of year coming up, which is usually a slow time for currencies, I don't expect major changes in market sentiment.

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fxsurprise8 2016年12月31日

No major changes to report in this pair, currently we're trading at 0.8523 and that's where we closed 2016. We have a little bit more time to the January 2nd cut off point, so wish me luck!

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fxsurprise8 2017年01月02日

According to the charts, the EUR/GBP was quoted at 0.85174 on January 2nd at 12:00. This is 49.6 pips away from my forecasted price of 0.8468.

In percentage terms this is 0.58 percent price difference. This is not enough for the first place but hopefully I will land a position near the top.

I'm working on updating my charts from the original forecast. I will post them once I finish my work, later today.

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fxsurprise8 2017年01月02日

The picture above is an updated chart of my original forecast. The rectangle shows the price action for EUR/GBP during December.

Here's the scenario I forecasted. As the pair was  entering a cluster of levels, both resistance and support, I expected to see the pair bogged down inside these levels,producing a trading range during December.

As you can see on the pic, that's exactly what happened. We first bounced at 0.8304, between the support levels at 0.8248 and 0.8335.

The pair then rallied to near the resistance at 0.8729 but was rejected and proceeded to fall back down toward my target.

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EUR/SEK Nearing Resistance Cluster

fxsurprise8 投稿日: 2016年08月31日。分析予想通貨ペア:EUR/SEK, 予想レート: 9.5511, 予想日: 3日10月, 12:00 GMT  in #Technical analysis #EUR #SEK #Resistance #Sweden #Levels #EUR/SEK #Timeframes #Swedish Krona
The EUR/SEK is again nearing a resistance cluster. On the chart below we can see all the different times this area has been tested in the past. Once at 9.72 then at 9.68 then at 9.67 then at 9.61 and finally at 9.60. But while the exact level of the bounce varied, in each of those instances the bulls were repelled.
On the lower timeframe we can see a similar range-bound scenaro playing out. All summer we've stayed in this range albeit with some bullish bias. I think this bullish bias will limit …
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fxsurprise8 2016年09月29日

Prices have again been repelled at the resistance cluster noted in my original post above. On September 26th the bulls bid up the pair to a high of 9.6654 but here the sellers took charge again.

The slight bullish bias persists but the existence of that resistance area is doing a good job at containing prices.

We are currently quoted at 9.6102, about 0.63% away from my target. I will need this retracement from the highs to continue a little bit longer in order to snag a position near the top.



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fxsurprise8 2016年09月30日

The EUR/SEK is slowly moving but in the wrong direction. Today we opened at 9.6159 and after a brief spike lower to 9.6038 the pair has rallied higher a bit.

We're now quoted at 9.6339, about 0.87% away from my forecast. The pressure from the resistance area close-by should help to keep a lid on prices. And what doesn't go up, has to come down eventually. At least that's the plan.

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fxsurprise8 2016年10月03日

The slow rally in EUR/SEK continues. We opened the week at 9.6293 but quickly rallied from here to a high of 9.6436. We're currently quoted just slightly below the highs at 9.6408.

This price is now close to 1% away from my 9.5511 forecasted price. Prices are now deep inside the 9.61-9.71 resistance area. We can only hope for a sharp rejection here followed by a quick retracement of the gains.

But with only one half session remaining tomorrow, odds look bleak for a high prize placement this month.

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