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EURUSD 17 Jan 2024 W3 - Intraday Analysis - US Retail/ EU CPIThis is my Intraday analysis on EURUSD for 17 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m 4H Chart Analysis 1. Swing Bullish INT Bearish OF Bearish In Discount 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones and ranged. OF is bearish within the Swing Pullback phase signaling that we still looking for deeper pullback to the next Daily/4H Demand zones. Current targets will be the Daily/4H demand zones and we can wait for price development on LTF to see if we will resume the Bullish Swing or not. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bearish Internal Bearish 2. Finally we are out of the range where the Swing turned bearish signaling the expectation that if the Swing turned bearish then the 4H is having a deep pullback phase within the 4H Bullish Swing. After a BOS we expect a pullback phase to initiate and we will be looking for Bullish iBOS to confirm Swing Low and the initiation of the Swing pullback. I'll be cautious that after range we were in the momentum will be aggressive and pullback may not happen directly and following the current INT structure will be the safe option. 3. INT structure is continuing bearish and i would expect the continuation bearish till we reach the Daily/4H Demand zone as current targets. No HP supply zone within the current INT structure as all are mitigated. I'll be waiting for the next INT structure for Shorts if we didn't reach the Daily/4H Demand zones first.
by Amr-Sadek
EURUSD 16 Jan 2024 W3 - Intraday Analysis - German CPI/ZEWThis is my Intraday analysis on EURUSD for 16 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : Still price is ranging and i'm waiting for a break out of that range. Order flow on 4H is currently bearish within the INT Structure so my expectation is to stay bearish and may target the 15m Swing Low. A formation of Bearish Structure will indicate that the 4H Swing pullback is not yet done and we may have a deep pullback within the 4H Swing. 4H Chart Analysis 1. Swing Bullish INT Bullish OF Bearish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone. This demand is mitigated now and we are currently ranging. 3. It's clear now that after NFP and CPI the market is in indecision phase and needs a catalyst to get out of the range. For me price still Bullish until we have a Bearish Swing (Solid close below Swing Low) I'll be waiting for more price development outside the range we are currently in.
by Amr-Sadek
EURUSD New Low is expected after the 1D MA50 breaks.The EURUSD pair has had a strong rejection last time we looked at it on the 1D time-frame (December 28 2023, see chart below), getting rejected exactly on Resistance 1 (1.1151) towards the 1D MA50 (blue trend-line), which is so far holding: This is basically an update to this. We are on the exact same moments as August 11 2023, May 12 2023 and February 13 2023 when the 1D MA50 broke to the downside and the price turned it into Resistance. On all occasions the last Higher Low of the Channel Up was tested. This is why we maintain our medium-term target at 1.07250 (Support 1). Notice that the 1D RSI sequence is also similar to the August 2023 and February 2023 pre break-out consolidation (red circles). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
EURUSD 15 Jan 2024 W3 - Intraday Analysis - US HolidayThis is my Intraday analysis on EURUSD for 15 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : No much development in price since NFP (2 Weeks). Can't see suitable option within that range knowing that it's a big range. But best is always wait for the setups that you are trained on and not to force a setup in current market behavior. 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone. This demand is mitigated now and we are currently ranging. 3. It's clear now that after NFP and CPI the market is in indecision phase and needs a catalyst to get out of the range. For me price still Bullish until we have a Bearish Swing (Solid close below Swing Low) I'll be waiting for more price development outside the range we are currently in.
by Amr-Sadek
EURUSD 15-19 Jan 2024 W3 Weekly AnalysisThis is my Weekly analysis on EURUSD for 15-19 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames: Weekly Daily 4H Economic Events Weekly Chart Analysis 1. Swing Bearish Internal Bearish Reached Swing EQ 2. After the iBOS we expected pullback, price tapped into Liq on the lift and a Weekly demand zone which provided a pullback and formed a bullish CHoCH confirming INT Low. 3. With the Bearish INT Structure we have the confirmation that the Swing Pullback is over and we are currently in the Swing Continuation Phase. Price had reached the Bearish INT Structure extreme and showed reaction from. Still the OF is Bullish within the Pullback Phase and the Bearish CHoCH will be the first sign to confirm the Bearish continuation from the Weekly Supply. Expectation now set to see price continuing bearish. Daily Chart Analysis 1. Swing Bearish INT Bullish Reached Extreme 2. Within the Bearish Swing we are currently in, the Swing pullback reached the Swing extreme area and mitigated a Weekly Supply zone (But didn't reach the Daily Supply) and started the INT Structure Pullback after the Bullish iBOS. For the Bearish Swing to continue bearish, we want to see a Bearish iBOS to confirm that the Swing Pullback is over and we are in the Swing Continuation to target the Weak Swing Low. But currently the INT Structure still Bullish so there is also a possibility that we can still continue up. Following the recent INT Structure, Price swept LIQ from the recent Daily Demand zone and reached the INT Structure EQ where we can expect demand to step in and target the Weak INT High. Lets wait to see more price development and LTF to guide us. 3. Previous week PA was ranging within the INT Structure EQ. Crossroads now for price. 4. Daily and Weekly demand zones for reactions once reached. 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. Economic Events for the Week
by Amr-Sadek
EURUSD: Multi year top has been formed. Be among first to sell.EURUSD is neutral on all high timeframes with our focus on this analysis in particular being on the 1M timeframe (RSI = 51.643, MACD = -0.007, ADX = 25.957). The reason is because we want to keep ourselves aware of what the underlying long term trend is. And based on the 1M RSI it is bearish, as the indicator shows a peak. It is the same peak that for the last 10 years is formed (this is the 4th time) over the RSI's MA trendline and causes the price to make a LH. The long term pattern is a Channel Down after all and December has been the 2nd rejection on the 1M MA50 since July 2023. The minimum target is the 0.786 Fibonacci level (TP = 0.99185), which was the target after the February 2018 peak. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURUSD 12 Jan 2024 W2 - Intraday Analysis - US PPI DayThis is my Intraday analysis on EURUSD for 12 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : Nothing changed much also yesterday even with CPI news. a whole ranging week and i wish we get out of that range today so we can have better opportunities next week. Wishing everyone a good weekend. 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish 2. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone. This demand is mitigated now we are currently ranging. For me it's clear now that market is waiting for CPI news today which will will provide us a clear view for next week. 3. After CPI news yesterday, we pushed above range high (NFP High) which enabled me after to mark INT Structure high as we did a CHoCH. Currently we still ranging inside the INT Structure. My Bias still Bullish till we see bearish Structures.
by Amr-Sadek
EURUSD Breakout and Potential retrace with today's CPIIn today's trading session, our attention is focused on EURUSD, with a keen eye on a potential selling opportunity around the 1.09700 zone. After breaking out of its uptrend, the pair is currently in a correction phase, edging closer to the retrace area at the 1.09700 support and resistance zone. Adding a fundamental layer to our analysis, the recent Consumer Price Index (CPI) data could play a pivotal role. The US dollar's strength, influenced by economic indicators such as CPI, may impact the overall direction of EURUSD. Traders should keep a close watch on the evolving market dynamics, especially considering the potential implications of USD strength on this currency pair. As always, trade safe. Joe
Short
by JoeChampion
1
EURUSD 11 Jan 2024 W2 - Intraday Analysis - US CPI DayThis is my Intraday analysis on EURUSD for 11 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : Nothing changed since yesterday too, price still ranging since last Friday NFP and market waiting US CPI Today. 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone. This demand is mitigated now and we are currently ranging. For me it's clear now that market is waiting for CPI news today which will will provide us a clear view for next week.
by Amr-Sadek
EURUSD 10 Jan 2024 W2 - Intraday Analysishis is my Intraday analysis on EURUSD for 10 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : Nothing changed since yesterday too, price still ranging since last Friday NFP and market waiting US CPI on Thursday 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone. This demand is mitigated now and we are currently ranging. For me it's clear now that market is waiting for CPI news tomorrow which will will provide us a clear view for next week.
by Amr-Sadek
Navigating the New Year: EURUSD at 1.08900 ZoneGreetings Traders, As we embark on the first trading week of the new year, our focus is squarely on EURUSD, where we are actively monitoring a potential buying opportunity around the 1.08900 zone. Positioned within a sturdy uptrend, EURUSD exhibits a clear upward trajectory, presenting strategic entry points for traders. Currently navigating a correction phase, the currency pair steadily approaches the trend at the pivotal 1.08900 support and resistance area, a level of historical significance and potential market influence. Examining the macroeconomic landscape, the recently released Consumer Price Index (CPI) data on January 2, 2024, revealed an actual inflation rate of 1.2%, exceeding both the forecast of 1.1% and the previous 0.8%. This upward movement in inflation has implications for market sentiment and may influence the Federal Reserve's approach in the upcoming months. Looking ahead, the next Federal Open Market Committee (FOMC) meeting is anticipated at the end of January 2024. Considering the most recent FOMC data on December 13, 2023, which reflected a steady interest rate of 5.50%, and the consistent dovish stance, traders should keep a watchful eye on the evolving monetary policy landscape. The commitment to maintaining the interest rate signals a cautious approach amid the backdrop of rising inflation. In the context of EURUSD, these fundamental indicators contribute to a nuanced analysis. The dovish sentiment in the monetary policy could potentially result in a weaker USD, enhancing the appeal of EURUSD for traders looking for buying opportunities around the 1.08900 zone. Staying informed and strategically aligning trading decisions with both technical and fundamental factors is crucial as we navigate the dynamics of the evolving market landscape in the weeks to come. Wishing you successful trades in the new year, Joe.
Long
by JoeChampion
3
EURUSD 9 Jan 2024 W2 - Intraday Analysis - US Trade BalanceThis is my Intraday analysis on EURUSD for 9 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m NOTE : Nothing changed since yesterday, price still ranging since last Friday NFP and market waiting US CPI on Thursday 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. After the recent Bullish BOS price started a series of Bearish INT Structures to facilitate the Swing Pull Back. 3. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a fresh 15m/4H Demand zone. This demand is the last demand zone in order for the 15m Swing to stay bullish. If failed, then we will have a deeper push down and the 4H will have the second view for deep Swing Pullback.
by Amr-Sadek
EURUSD The 1D MA50 is the difference between bullish and bearishThe EURUSD pair gave us the best possible sell signal on our December 28 2023 idea (see chart below) as we sold exactly at the top, provided by the overbought 1D RSI: We now shift our focus from the long-term to the medium-term as the price reached the bottom (Higher Lows trend-line) of the Channel Up and is consolidating around the 4H MA200 (orange trend-line) and within exactly the 4H MA50 (blue trend-line) as Resistance and the 1D MA50 (red trend-line) as Support. The 4H RSI has printed an identical pattern with the December 08 -11 Higher Low formation and as long as the 1D MA50 holds, we are taking a short-term buy towards Resistance 1 at 1.11300. If the 1D MA50 breaks (candle closing below it), we will quickly take the loss and sell instead targeting Support 1 at 1.07250, which has always been our long-term Target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURUSD 8 Jan 2024 W2 - Intraday Analysis - EUR Retail Sales This is my Intraday analysis on EURUSD for 8 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. 15m Chart Analysis 1. Swing Bullish Internal Bullish At Swing Extreme Low 2. After the recent Bullish BOS price started a series of Bearish INT Structures to facilitate the Swing Pull Back. 3. INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme. The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a fresh 15m/4H Demand zone. This demand is the last demand zone in order for the 15m Swing to stay bullish. If failed, then we will have a deeper push down and the 4H will have the second view for deep Swing Pullback. 4. Potential demand zone within the Swing extreme.
by Amr-Sadek
EURUSD 8-12 Jan 2024 W2 Weekly Analysis - US CPI WeekThis is my Weekly analysis on EURUSD for 8-12 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames: Weekly Daily 4H Economic Events Weekly Chart Analysis 1. Swing Bearish Internal Bearish Reached Swing EQ 2. After the iBOS we expected pullback, price tapped into Liq on the lift and a Weekly demand zone which provided a pullback and formed a bullish CHoCH confirming INT Low. 3. With the Bearish INT Structure we have the confirmation that the Swing Pullback is over and we are currently in the Swing Continuation Phase. Price had reached the Bearish INT Structure extreme and showed reaction from. Still the OF is Bullish within the Pullback Phase and the Bearish CHoCH will be the first sign to confirm the Bearish continuation from the Weekly Supply. Expectation now set to see price continuing bearish. Daily Chart Analysis 1. Swing Bearish INT Bullish Reached Extreme 2. Within the Bearish Swing we are currently in, the Swing pullback reached the Swing extreme area and mitigated a Weekly Supply zone (But didn't reach the Daily Supply) and started the INT Structure Pullback after the Bullish iBOS. For the Bearish Swing to continue bearish, we want to see a Bearish iBOS to confirm that the Swing Pullback is over and we are in the Swing Continuation to target the Weak Swing Low. But currently the INT Structure still Bullish so there is also a possibility that we can still continue up. Following the recent INT Structure, Price swept LIQ from the recent Daily Demand zone and reached the INT Structure EQ where we can expect demand to step in and target the Weak INT High. Lets wait to see more price development and LTF to guide us. 3. Daily and Weekly demand zones for reactions once reached. 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ 2. Price made a bullish BOS and after a BOS we expect a pullback. After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH. Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs. Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme. With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme. Lets wait for LTF confirmations and price development. 3. Swing extreme demand for possible continuation to the upside. Economic Events for the Week
by Amr-Sadek
🇪🇺 EURUSD 🇺🇸 - Support retest before the news EURUSD is testing trend support, a second retest is formed and the chances of breaking this line are increasing. There is news ahead and if the market gets bad news for the euro, the price may break this area and fall to 1.075 on the background of the dollar growth Prerequisites for further declines: 1) The dollar is fundamentally stronger 2) NFP is ahead, which will have a negative impact on EUR 3) Support retest is forming 4) Strong resistance at 1.0950
Short
by AndeWave
1
EURUSD Strong decline has started.EURUSD has almost hit the top of the 12 month Channel Down and started to pull back with today's 1day candle being the strongest daily selling since November 30th. The 1day MACD has formed a Bearish Cross and the downside potential inside this Channel Down is seizeable. For now sell and target 'just' 1.07215 (bottom of the Megaphone and Rising Support). If the Rising Support breaks, we will update with a new target, close to the bottom of the Channel Down, but with an entry near the 1day MA50. Follow us, like the idea and leave a comment below!!
by TheCryptagon
1
EURUSD: Channel Up started its pull back.EURUSD is about to turn neutral again on its 4H technical outlook (RSI = 55.947, MACD = 0.003, ADX = 54.703) as the uptrend got rejected today near the top of the two month Channel Up. As the 1D RSI is forming the same Bearish Divergence as the November 28th HH, we turn to selling again as this is technically the Bearish Wave of the Channel Up. The previous HL was formed marginally over the 0.618 Fibonacci level, we aim at a similar symmetrical target (TP = 1.0900). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURUSD Bearish Wave about to start. RSI overbought.The EURUSD pair easily hit our 1.10500 target, which we set on the previous analysis (see chart below) on December 19: We now shift back again to the 1D time-frame where the 1D RSI is about to hit the 70.00 level and turn overbought, while the price being near the top of the 3-month Channel Up. As you can see, similar Channel Up patterns have existed since November of 2022 and all broke downwards to at least a -4.15% decline, below the 1D MA50 (blue trend-line). On the current pattern, the 1D MA5 has not been touched since the November 03 break-out. With Resistance 1 waiting at 1.11510 and the maximum total rise we have seen in the past 1 year without a -4% decline being +7.15%, currently being at 1.1200, we treat the current zone as the most efficient Sell Entry since July 18. A new -4.22% decline would test Support 1 at 1.7250 and that is our medium-term target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
EURUSD Potential UpsidesIn anticipation of tomorrow's trading session, our primary focus centers on EURUSD, where we are actively monitoring a potential buying opportunity around the 1.09800 zone. Presently engaged in an uptrend, EURUSD showcases a sustained upward trajectory. Simultaneously, the currency pair is navigating a correction phase, gradually converging towards the trend at the pivotal 1.09800 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for tomorrow involves a meticulous assessment of optimal entry points within the identified 1.09800 zone. Aligning our trading decisions with the ongoing uptrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified buying opportunity within the broader context of EURUSD's current trend.
Long
by JoeChampion
2
EURUSD 22 Dec 2023 Intraday Analysis - US PCE / Last Post 2023This is my Intraday analysis on EURUSD for 22 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames: 4H 15m 4H Chart Analysis 1. Swing Bullish INT Bullish Reached EQ/Extreme 2. INT structure turned bullish as expected and we are currently in 4H Swing continuation targeting the Weak Swing High and maybe more above. After the iBOS we would expect a pullback but be mindful with the current solid bullish momentum and that we are currently Pro Swing and Pro Internal, pullbacks will not be deep so be patient and cautious and utilize LTF to guide you. 3. Swing low and last demand for potential buys. 4. Price had mitigated the Daily/4H Supply zones and currently close to the Weak Swing High. Price reacted as expected from the 4H demand zone and we are currently in the same momentum to target the 4H Weak Swing High. In my POV the current reaction from the 4H/Daily Supply zones is not yet reflecting as a rejection as the reaction didn't achieve anything significant even no Fractal CHoCH. So as long we stay bullish and demand holding we are still solidly bullish. Also as we are approaching the end of the year, moves will not be in momentum so i recommend to better observe the market and prepare yourself to the next year runs. 15m Chart Analysis 1. Swing Bullish Internal Bullish 2. We created a BOS as expected and we are in the Swing continuation to target the 4H Weak Swing High. After a BOS we expect a pullback and first sign will be a Bearish CHoCH to confirm the INT High. But be mindful that we are in 4H Swing Continuation to i don't expect much pullback before we take out the 4H Weak Swing High. A note from yesterday that the Internal to Internal Structure (Was mapped in Green) became now the Internal Structure.
by Amr-Sadek