Euro / U.S. DollarShort
EU/USD Technical Analysis Report
EUR/USD Technical Analysis Report
December 20, 2024, 06:00 GMT
Current Price: 1.03628
Recent Market Events & Price Action
Recent FOMC rate cut of 25 basis points (December 18, 2024) accelerated bearish momentum
Previous range break (1.05927 - 1.04541) signals strong bearish continuation
Yesterday's retracement to 1.04235 identified as liquidity grab before continuation
Technical Structure
Key Trend Points
Downtrend initiated: September 30, 2024
Trend confirmation: Bearish daily engulfing candle (November 5, 2024)
Range formation: November 13 - November 27, 2024
Range break: December 18, 2024 (post-FOMC)
Moving Average Analysis
Price consistently trading below Daily 20 EMA
Broken below Daily 200 EMA with sustained movement below
Historical Key Level Analysis
Major historical level approaching:
Previous support: May 12, 2022
Previous resistance: August 9, 2022
Last mitigation: November 15, 2022
Potential Scenarios
Bearish Scenario (Higher Probability)
If current historical level breaks, expect movement towards:
1.00951
0.99599
0.97402
Bullish Alternative
If level holds as support:
Potential retracement back to range high (1.05973)
Would indicate renewed EUR strength against USD
Key Levels to Watch
Recent High: 1.04235 (December 19 retracement)
Previous Range: 1.05927 - 1.04541
Major Support Levels: 1.00951, 0.99599, 0.97402
Risk Management Considerations
Monitor price action around historical support level
Watch for potential false breaks
Consider reduced position sizes due to recent high-impact news event
Note: This analysis is for educational purposes only. Always conduct your own analysis and manage risk appropriately.
December 20, 2024, 06:00 GMT
Current Price: 1.03628
Recent Market Events & Price Action
Recent FOMC rate cut of 25 basis points (December 18, 2024) accelerated bearish momentum
Previous range break (1.05927 - 1.04541) signals strong bearish continuation
Yesterday's retracement to 1.04235 identified as liquidity grab before continuation
Technical Structure
Key Trend Points
Downtrend initiated: September 30, 2024
Trend confirmation: Bearish daily engulfing candle (November 5, 2024)
Range formation: November 13 - November 27, 2024
Range break: December 18, 2024 (post-FOMC)
Moving Average Analysis
Price consistently trading below Daily 20 EMA
Broken below Daily 200 EMA with sustained movement below
Historical Key Level Analysis
Major historical level approaching:
Previous support: May 12, 2022
Previous resistance: August 9, 2022
Last mitigation: November 15, 2022
Potential Scenarios
Bearish Scenario (Higher Probability)
If current historical level breaks, expect movement towards:
1.00951
0.99599
0.97402
Bullish Alternative
If level holds as support:
Potential retracement back to range high (1.05973)
Would indicate renewed EUR strength against USD
Key Levels to Watch
Recent High: 1.04235 (December 19 retracement)
Previous Range: 1.05927 - 1.04541
Major Support Levels: 1.00951, 0.99599, 0.97402
Risk Management Considerations
Monitor price action around historical support level
Watch for potential false breaks
Consider reduced position sizes due to recent high-impact news event
Note: This analysis is for educational purposes only. Always conduct your own analysis and manage risk appropriately.
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.