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GBP/JPY Swing Trade – End of 2024 (Best Way to Buy)Analysis: GBP/JPY shows potential for an upward move based on harmonic patterns and Fibonacci levels on the daily chart. The current trend is retracing higher after finding support at 188.088 and testing resistance around **197.302**. Entry Setup: - Wait for a pullback to the 195.333 - 197.302 zone (61.8% and 78.6% Fibonacci retracement levels). - Look for bullish candlestick patterns like pin bars or engulfing candles to confirm entry. Profit Targets: TP1: 202.065 (78.6% Fibonacci resistance). TP2: 203.000 (1.272 Fibonacci extension). TP3: 207.056 (1.618 Fibonacci extension) for medium-term potential. Stop Loss: - Conservative: Below 195.333. - Aggressive: Below 188.088 for stronger protection in case of failed breakout. Conclusion: This strategy leverages pullbacks for entry in strong support zones, with layered profit targets and tight stop losses. Focus on confirming signals before entering to minimize risk and maximize profit potential by the end of 2024.
Long
by the_pamungkas
EURGBP Short IdeaWith the Eurozone's GDP growth lagging at 1.0% and inflation staying below the ECB's target, the EUR faces headwinds in Q1 2025. In contrast, the UK's GDP is projected to grow by 1.5%, supported by easing inflation and higher BoE rates of 4.5% compared to the ECB's 3.25%. This monetary policy divergence and stronger UK economic fundamentals favor GBP over EUR. However, watch for dovish shifts from the BoE or global shocks that may lend safe-haven appeal to the EUR.
Short
by BryceAkwo
EUR/USD Daily Chart Analysis For Week of Dec 20, 2024Technical Analysis and Outlook: The Eurodollar exhibited a bearish trend during the initial part of the week; however, it subsequently demonstrated a significant recovery by retesting the completed Outer Currency Dip at 1.035. This renewed interim rebound is poised to drive the Eurodollar toward the Mean Resistance level of 1.051. However, it is crucial to recognize that a retest of the completed Outer Currency Dip at 1.035 remains plausible.
by TradeSelecter
EUR /USD 4hr bearish wave FX:EURUSD 4-hour chart suggests that we are currently in a bearish wave pattern, which is expected to persist into early next week. The progression is as follows: • The first wave has already started and is targeting the 1.04678 range (2nd wave). • A deeper decline is anticipated for the 3rd wave, reaching around 1.03123. • A corrective bounce may occur in the 4th wave, retracing to approximately 1.04168. • The final bearish push, the 5th wave, is projected to reach around 1.02164. This wave structure aligns with continued downside momentum, with corrective pullbacks likely along the way.
Short
by kenbol