• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy EUR/USD and EUR/GBP Analysis: A Sharp Drop
Economy

EUR/USD and EUR/GBP Analysis: A Sharp Drop

by November 4, 2024
by November 4, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Overall Analysis

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

EUR/USD Chart Analysis 

EUR/USD 15-Minute Chart (Source: TradingView)

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. 

On a daily time frame, the 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. 

Currently, looking at a 15-minute time frame, the EUR/USD 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. 

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. 
If 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.

EUR/GBP Chart Analysis 

EUR/GBP 15-Minute Chart (Source: TradingView)

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

On a daily time frame, the price has fallen sharply and is now facing rejection from previous swings. Currently, on a higher time frame, selling is still in strength. 

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

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
Suppose the price breaks 0.83533, which was the previous swing low, a 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.

The post EUR/USD and EUR/GBP Analysis: A Sharp Drop appeared first on FinanceBrokerage.

You Might Also Like
  • Special Counsel Jack Smith to use data from Trump’s phone in election interference trial: Court filing
  • Biden admin hires czar to monitor school book ban: ‘Threat’ to students
  • MT lawmakers seek to interpret state constitution as means to restrict abortion
  • California Sen. Dianne Feinstein hospitalized in San Francisco
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Oil Rally Resumes Amid Gap Up; Gas Faces Trendline Rejection
next post
DP Trading Room: Six-Month Period of Favorable Seasonality Begins Now!

You may also like

House GOP probes whether special counsel office helped retaliate against...

June 17, 2024

Obama-era deal to allow Hamas office in Qatar backfired on...

November 26, 2023

Who is Jason Palmer, the obscure presidential candidate who delivered...

March 6, 2024

White House insists Biden will ‘absolutely not’ suspend re-election campaign:...

July 3, 2024

How and where to watch Donald Trump’s town hall with...

December 6, 2023

Biden is caving to campus agitators in threatening to cut...

May 11, 2024

Biden indefinitely blocks millions of acres of land, water from...

March 13, 2023

House Dems defend Jeffries as Left’s disarray over Biden grows

July 10, 2024

NY House Republicans demand Columbia University president step down over...

April 24, 2024

Pennsylvania Democrats push to commemorate ‘Jan. 6 Day’ in public...

January 19, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Happy 2023: Adam and God

    December 31, 2022

    Dogecoin and Shiba Inu: New Highs...

    October 15, 2024

    Populists shut out of European political...

    July 21, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here