Bearish drop off overlap resistance?EUR/JPY has reacted off the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 162.13
Why we like it:
There is an overlap resistance level.
Stop loss: 164.38
Why we like it:
There is a pullback resistance level that aligns with the 138.2% Fibonacci extension.
Take profit: 159.34
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
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EUR (Euro)
Buy EUR/NZD Bullish ChannelThe EUR/NZD pair on the H1 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.8324
2nd Support – 1.8384
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EURO - Price can continue to decline inside falling channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Recently price broke $1.0560 level and fell to support line, after which rose to resistance line and continued to fall.
Then price made a gap and fell to support level, after which some time traded near and then made upward impulse.
Price broke resistance line with resistance level, and rose to $1.0630 points, but then it started to fall.
In falling channel, price broke $1.0560 level again and fell to support area, after which bounced up, making a fake breakout.
Next, Euro started to grow and now it continues to move up, therefore I think it can almost reach resistance line.
After this, price can turn around and start to fall to $1.0470 support level inside falling channel.
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EURO - Price can bounce up from support level to $1.0650Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A few moments ago price declined inside falling channel, where it fell from resistance line to $1.0765 level.
Then price rose to resistance line of channel, making first gap and then making a downward impulse, exiting from channel.
Also then, EUR continued to decline inside a downward pennant, where it broke $1.0765 level and later fell to $1.0470 level.
Next, price declined to support line of pennant, after which made a second gap and rose to resistance line of pennant,
After this, Euro declined to $1.0470 level and some time traded near, but now it trades close support line.
Possible, price can fall to support level, exiting from pennant and then bounce up to $1.0650
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Bearish drop?The Fiber (EUR/USD) has reacted off the pivot and could drop to the pullback support.
Pivot: 1.0531
1st Support: 1.0452
1st Resistance: 1.0598
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
#EURNZD 2HEURNZD 2-Hour Analysis
The EURNZD pair is forming a rising wedge pattern on the 2-hour chart, which often signals a potential bearish reversal. The price is trading near the wedge's upper levels, and a breakdown below the support line would confirm selling pressure, offering further sell opportunities.
Technical Outlook:
Pattern: Rising Wedge
Forecast: Bearish (Sell, and Sell More on Support Line Breakdown)
Entry Strategy: Initiate a sell position if the price shows bearish signals near the wedge's resistance. Add to the position or open new sell trades once the support line is broken and confirmed with a retest or bearish price action.
Traders should monitor indicators like RSI for overbought conditions or MACD for bearish crossovers to strengthen the case for a sell. Use proper risk management by setting stop-loss orders above the wedge resistance and targeting key support levels below the breakdown point.
EurNzd could rise to 1.85On October 1st, EUR/NZD reached a local low at the psychological level of 1.75, followed by a reversal that lasted until November 1st, gaining nearly 1300 pips.
A normal correction then occurred, and from mid-November, the pair started consolidating between the 1.78 and 1.80 levels.
December brought a breakout above the key 1.80 level, and since then, EUR/NZD has been in a nice uptrend.
As of now, the price is 1.8230, and it looks like a breakout above resistance is imminent.
In this scenario, the next target for the bulls is the 1.85 level.
EURNZD analysis elliot. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
EURNZD–bullish continuation after a small pullback .. 16-20 DecWeekly – Strongly bullish
Daily – Indecision for 2 days but Fri candle was bullish. Price above 200dma.
H4 – Well established bullish trend, price holding above 20sma. Price has moved away from the 20sma and a small retracement would provide better value for taking a long trade.
A retracement to the 50-61.8% retracement would be ideal, could even go lower. I will be looking for bullish PA after a retracement. My stop would be below the last H4 swing low and target near the 1.8430 area.
This is not a trade recommendation, merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Bullish bounce?EUR/USD is falling towards the support level which is a pullback support and could bounce from this level to our take profit.
Entry: 1.0456
Why we like it:
There is a pullback support level.
Stop loss: 1.0401
Why we like it:
There is a pullback support level.
Take profit: 1.0527
Why we like it:
There is an overlap resistance level.
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EURUSD to make a bullish breakout after the Fed.On Wednesday the Fed will announce the new rate and the anticipation of this event largely explains the recent consolidation of EURUSD.
Since the November 22nd bottom, it has turned sideways around the MA50 (4h), failing to cross above the MA200 (4h), which is the main Resistance of the bearish wave since October 1st.
The July-October 2023 bearish wave was under a similar consolidation but eventually broke to the upside and hit the 0.618 Fibonacci level.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08700 (the 0.618 Fibonacci level).
Tips:
1. The RSI (4h) has been rising inside a Channel Up, which is a bullish divergence also very much like the October 2023 bottom.
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EURUSD: Short-term trade Before Retail SalesHello Traders,
Due to longer term Bearish Trend in the pair I'm more with the Red Path, However, we have to follow the market!
Any Breaks below the channel and 1.0500, may head the price to 1.0468.
Any Breaks over the zone, could make us see the 1.0577.
We should close our trader before Retail Sales release on Tuesday.
Bearish drop off overlap resistance?EUR/JPY is reacting off the pivot which acts as an overlap resistance and could drop to the 1st support which has been identified as a pullback support.
Pivot: 162.12
1st Support: 160.34
1st Resistance: 164.02
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce?EUR/GBP is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 0.8268
1st Support: 0.8224
1st Resistance: 0.8325
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off 50% Fibonacci support?EUR/GBP is falling towards the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8269
Why we like it:
There is a pullback support level that lines up with the 50% Fibonacci retracement.
Stop loss: 0.8223
Why we like it:
There is a pullback support level.
Take profit: 0.8329
Why we like it:
There is an overlap resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURUSD Bottom formation in progress. Strong Buy.The EURUSD pair has been trading within a nearly 2-year Channel Down. Being below the 1D MA50 (blue trend-line) since October 02 2024, this is technically still the pattern's Bearish Leg.
However, having bottomed on November 22 and transitioned into a (dotted) Channel Up, this is the technical bottom formation of the long-term Channel Down and the rise following a 1D MACD Bullish Cross from such a low level (the lowest in 2 years), confirms that.
The similarities with both previous bottom formations (September - October 2023 and February - March 2023) are obvious, all of them triple bottomed before rebounding above the 0.786 Fibonacci retracement level.
As a result, buying now and targeting 1.08765 (Fib 0.618) is an excellent long-term trade in terms of R/R.
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EURNZD Will Go Lower From Resistance! Sell!
Take a look at our analysis for EURNZD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.818.
The above observations make me that the market will inevitably achieve 1.803 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EUR/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
EUR-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.929 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/CHF pair.
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