{"id":4537,"date":"2024-11-04T18:00:57","date_gmt":"2024-11-04T18:00:57","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/11\/04\/eur-usd-and-eur-gbp-analysis-a-sharp-drop\/"},"modified":"2024-11-04T18:00:57","modified_gmt":"2024-11-04T18:00:57","slug":"eur-usd-and-eur-gbp-analysis-a-sharp-drop","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/11\/04\/eur-usd-and-eur-gbp-analysis-a-sharp-drop\/","title":{"rendered":"EUR\/USD and EUR\/GBP Analysis: A Sharp Drop"},"content":{"rendered":"
\n

Overall Analysis<\/span><\/h2>\n

EUR\/USD fell sharply on the 1st Nov Trading session after a strong spike <\/span>up<\/span>. Still, previous higher low swings are intact.\u00a0<\/span><\/strong>
\nEUR\/GBP showed the same fall on 1st Nov, keeping the previous lows intact and slowly moving upside.\u00a0<\/span><\/strong><\/p>\n

EUR\/USD Chart Analysis\u00a0<\/span><\/h2>\n

EUR\/USD 15-Minute Chart (Source: TradingView<\/a>)<\/em><\/span><\/p>\n

On the 1st Nov 2024 trading session, prices fell, closing around -50%. Price recovered sharply on 4th Nov trading session with a huge gap-up. Currently, the price did not break any previous higher low area, indicating strength towards the upside.\u00a0<\/span><\/p>\n

On a daily time frame, the<\/span> price can be seen reversing from the major support level after delivering its double-top pattern target. Price should retest 0.5 fib retracement level, keeping the bull rally intact.\u00a0<\/span><\/p>\n

Currently, looking at a 15-minute time frame, the EUR\/USD<\/a><\/span> price faces rejection from the 1.09030 level and continues hovering around it, making a flag and pole pattern. There are a few levels traders can plan to make their entry.\u00a0<\/span><\/p>\n

If the price breaks the 1.09030 level and sustains above it with an RSI below 60, then one can go for a buy position with a stop loss below the previous low and targets of 1.09164 and 1.09367. Make sure to trail stop loss as the price can face sharp rejection from the levels.\u00a0<\/span><\/strong>
\nIf the price creates a new day high and is rejected, wait for the price to break the 1.08872 level. This level will trigger a Double Top pattern with stop loss above the previous swing high and target of the day low.<\/span><\/strong><\/p>\n

EUR\/GBP Chart Analysis\u00a0<\/span><\/h2>\n

<\/span><\/p>\n

EUR\/GBP 15-Minute Chart (Source: TradingView)<\/span><\/em><\/p>\n

On the 1st Nov 2024 trading session, EUR\/GBP can be seen falling sharply towards 0.83692 level. <\/span>Price has <\/span>still<\/span> kept previous Higher Lows intact but is <\/span>currently<\/span> moving sideways under a strong rejection zone.<\/span>\u00a0<\/span><\/p>\n

On<\/span> a daily time frame<\/span>, the<\/span> price has fallen sharply<\/span> and is now facing rejection from previous swings.<\/span> Currently, on a higher time frame, selling is still in strength.\u00a0<\/span><\/p>\n

If <\/span>looking<\/span> at the 15 min time frame, <\/span>then<\/span> we can see the price is currently in a strong zone<\/a>.<\/span> 1st November fall has not been recovered yet. There are multiple entries that traders can plan, below is the list.\u00a0<\/span><\/p>\n

If the price breaks the 0.84180 level and sustains above it, more buying will trigger in this situation. With stop loss below the previous swing low and a target of 0.84480<\/span><\/strong>
\nSuppose the price breaks 0.83533, which was the previous swing low, a<\/span> sharp fall is expected. In that case, you can enter if the price sustains below it, setting a stop loss above the previous swing high and aiming for a target of 0.83198.<\/span><\/strong><\/p>\n

The post EUR\/USD and EUR\/GBP Analysis: A Sharp Drop<\/a> appeared first on FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Overall Analysis EUR\/USD fell sharply on the 1st Nov Trading session after a strong spike up. Still, previous higher low swings are intact.\u00a0 EUR\/GBP showed the same fall on 1st Nov, keeping the previous lows intact and slowly moving upside.\u00a0 EUR\/USD Chart Analysis\u00a0 EUR\/USD 15-Minute Chart (Source: TradingView) On the 1st Nov 2024 trading session, […]<\/p>\n","protected":false},"author":0,"featured_media":4538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/4537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=4537"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/4537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/4538"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=4537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=4537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=4537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}