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EURUSD Wyckoff PatternEURUSD Wyckoff Pattern EURUSD - H1 Chart - Wyckoff Pattern in Accumulation Phase 1. Preliminary Support (PS) Preliminary Support or PS is a support level that forms after a significant fall in market prices. It’s caused by Big Institutional Players and Smart money traders, when they try to acquire bullish positions after a strong selloff. In the image, you can notice that after a Sharp fall, the price action bounced back and moved sideways – That’s the example of Preliminary Support Once a Preliminary Support is established, Market will find it very hard to break that support level because of Strong buying interest. 2. Selling Climax (SC) Selling Climax is another pattern in Accumulation phase characterized by sharp selloff. It takes place before the Preliminary Support or PS. It indicates that selling pressure has reached a stage in which panic selling by the public will be absorbed by Big Institutional players or Smart money traders. Selling Climax often coincides with bad news or some negative events, as it is caused by the panic selling behavior of public Investors. Big players often use the Selling Climax to acquire positions at lower price. In the Image, you can see the example of Selling Climax Pattern. The bounce back in market prices followed by Selling climax reflects the buying interest of Big Players. 3. Automatic Rally (AR) Automatic Rally is an up move that forms after the Selling Climax in the Accumulation phase. The underlying buying interest cause the prices to rally higher, but quickly prices will fall back after making a new high. The highest point of this rally will become the Resistance of the Accumulation range. You can see the example of Automatic Rally or AR in the Image. After an Automatic Rally, Intense selling activity from the Public decreases and bearish sentiment becomes weaker. 4. Secondary Test (ST) The Secondary Test formation happens after an Automatic Rally. It’s caused by the long covering process of Public Investors, which brings the price back to the area of Preliminary Support. Often prices will bounce back after touching the Preliminary Support indicating the presence of Buying Interest. Secondary Test is a reflection that market prices have found the bottom. It is common to have Multiple Secondary Tests, as the market will retest the Preliminary Support to check the strength of Buyers. In the Image, you can see the examples of Secondary test. 5. Springs Springs are nothing but shakeouts that happens within the Accumulation phase. The prices will fall below the Preliminary Support of the trading range only to reverse back above the trading range within a short time period. (Often referred as False Breakout) Thank you
Long
by KABHI_TA_TRADING
31
EURUSD On the 1W MA50 after 8 red weeks. Strong rebound ahead?The EURUSD pair got last week the closest to the 1W MA50 (blue trend-line) it has been since the January 02 2023 1W candle, practically the start of the year. The 1W MA50 has been the long-term Support of the bullish trend since the pair broke above it on the week of December 05 2022. Testing it after that long can provide a technical rebound, especially considering the fact that last week the trend completed eight (8) straight red 1W candles. To put things into a more detailed context, the price action of the past 12 months is similar to the one that preceded the March 29 2021 1W MA50 test. Both lasted on a similar date range (50 weeks/ 350 days and 54 weeks/ 378 days respectively) from the bottom to the 1W MA50 test and the 1W RSI on both dropped from 70.00 to 42.50. The 2021 rebound marginally broke the 0.786 Fibonacci retracement level before getting rejected on a Lower Highs trend-line to the 2021 - 2022 Bear Cycle. As a result, it is worth attempting a medium-term buy, as long as the 1W candle closes above the 1W MA50 and target the 0.786 Fibonacci level, which on this occasion is at 1.11500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
3
EUR/USD Struggles Amidst Dollar Rebound and ECB UncertaintyEUR/USD Struggles Amidst Dollar Rebound and ECB Uncertainty Introduction The EUR/USD pair is facing a challenging road ahead as it attempts to recover from recent lows. Despite an overnight rally that pushed it to a four-day high, the pair is grappling with a mild negative bias during the Asian trading session on Tuesday. Spot prices are currently hovering below the mid-1.0730s, with the specter of a three-month low reached last week still haunting the market. Dollar Stabilization and Fed Influence The US Dollar (USD) is a significant factor in the current EUR/USD dynamics. After a sharp fall on Monday, the greenback has paused its retracement slide from the highest level since March. This stabilization in the USD is acting as a headwind for the EUR/USD pair. The main driver behind this dollar strength is the prospects for further policy tightening by the Federal Reserve (Fed). The Fed's willingness to raise interest rates is supportive of elevated US Treasury bond yields, which, coupled with a cautious market sentiment, provides some support to the safe-haven Greenback. Market sentiment regarding the Fed's actions remains mixed, with expectations of one more 25 basis point rate hike by the end of the year. The upbeat US macroeconomic data released last week suggests a resilient economy, allowing the Fed to maintain higher interest rates for an extended period. However, concerns about the economic headwinds stemming from rising borrowing costs continue to suppress optimism in equity markets, adding to the USD's allure. ECB Uncertainty Weighs on the Euro Conversely, the Euro (EUR) faces uncertainty surrounding the European Central Bank's (ECB) future rate-hike trajectory. Market participants are divided on whether the ECB will continue its historic policy-tightening cycle by hiking interest rates for a tenth consecutive time, given persistently high inflation, or pause due to a dimming economic outlook in the Euro Zone. This uncertainty serves as a cap on the upside potential for the EUR/USD pair, at least for the time being. Upcoming Catalysts Traders are eagerly awaiting the release of the German ZEW Economic Sentiment data during the European session, which could provide some direction for the EUR/USD pair. However, the primary focus is on the upcoming events that will likely shape the pair's near-term trajectory. These include the release of crucial US consumer inflation figures on Wednesday and the highly anticipated ECB meeting on Thursday. The outcome of these events will have a substantial impact on market sentiment and the direction of the EUR/USD pair. Conclusion The EUR/USD pair is navigating through a complex landscape marked by a stabilizing US Dollar, uncertainty regarding the ECB's rate-hike path, and upcoming economic data releases and central bank meetings. As traders await these critical events, caution prevails, and aggressive directional bets are approached with care. The EUR/USD's journey ahead hinges on the interplay of these factors, making it an interesting pair to watch in the coming days. Our preference Below 1.0770 with target at1.0680 and 1.0650 in extension.
Short
by FOREXN1
3
EUR/USD: Navigating Currency Markets Amidst Dollar WeaknessEUR/USD: Navigating Currency Markets Amidst Dollar Weakness The EUR/USD currency pair has been making headlines as it posts a modest gain, hovering around 1.0725, signaling a shift in the forex market dynamics. This move comes amidst several key developments that are influencing the pair's direction, including statements from US Treasury Secretary Janet Yellen, anticipation of the European Central Bank (ECB) meeting, and the impending release of the US Consumer Price Index (CPI). Yellen's Optimistic Outlook on Inflation and Employment US Treasury Secretary Janet Yellen's recent comments have drawn attention. She expressed confidence that the United States can successfully manage inflation without causing significant disruptions to the labor market. Yellen pointed out that inflationary pressures are receding, and there has been no alarming surge in layoffs. This outlook has provided some support to the US Dollar, although the impact on the currency market has been limited. Market Expectations and Interest Rates Looking ahead, the market is closely monitoring the ECB's policy meeting, scheduled for Thursday. Analysts widely anticipate that the ECB will maintain its current interest rates, given the recent economic data. In particular, the German Harmonized Consumer Price Index (HICP) for August aligned with market expectations at 6.4% year-on-year, and the Eurozone's GDP growth in the second quarter remained modest at 0.1%. These numbers suggest that the ECB may adopt a cautious approach to avoid upsetting the fragile economic recovery. US Inflation Data and Forex Market Impact Wednesday's release of the US Consumer Price Index (CPI) for August is a critical event on traders' calendars. Market consensus points to a 0.5% increase in the monthly figure, with the core CPI expected to remain stable at 0.2%. Any significant deviation from these expectations could trigger substantial movements in the EUR/USD pair, potentially affecting traders' sentiment regarding the future of the US Dollar. Federal Reserve's Mixed Messages The Federal Reserve's statements have added an element of uncertainty to the US Dollar's trajectory. While Fed Governor Christopher Waller has suggested that there is room for interest rate hikes, he emphasized that data will ultimately dictate their decisions. Fed Boston President Susan Collins has also expressed concerns about adopting a prematurely restrictive monetary policy stance, advocating for a patient and deliberate approach. Chicago Fed President Austan Goolsbee's vision of a "golden path" underscores the central bank's desire to navigate the economy toward lower inflation without triggering a recession. This nuanced approach from the Fed further complicates the forex market's outlook. Conclusion The EUR/USD pair's recent modest gain around 1.0725 reflects the complex interplay of factors influencing the forex market. While Yellen's optimism about inflation and employment has provided some support to the US Dollar, the ECB's anticipated interest rate decision and the US CPI release could be the catalysts for more significant movements in the pair. Additionally, mixed messages from Federal Reserve officials have added uncertainty to the US Dollar's path. Traders must remain vigilant and prepared for potential market volatility in the coming days as these events unfold, shaping the direction of the EUR/USD pair. Our preference Below 1.0770 with target at1.0680 and 1.0650 in extension.
Short
by FOREXN1
5
EURUSD - Potential Reversal ⁉️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart EURUSD has been overall bullish trading inside the flat rising channel in brown, and it is currently approaching the lower bound / trendline and support zone. Hence, we will be looking for trend-following buy setups on lower timeframes. on H1: Right Chart EURUSD formed a valid channel in red but it is not ready to go yet. For the bulls to take over, we need a momentum candle close above the last high marked in gray. In this case, we will expect a shift in momentum from bearish to bullish. Meanwhile, until the buy is activated, EURUSD would be overall bearish and can still trade lower inside the support. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
7
EURUSD hit the bottom of the Channel Down.The EURUSD pair hit yesterday the bottom (Lower Lows trend-line) of the Channel Down that started after the July 27 High. As the 4H MACD is about to form a Bullish Cross, this emerges technically as a buy opportunity on the short-term. Our target is 1.0850, just below the top (Lower Highs trend-line) of the Channel Down, marginally below a projected +1.42% price range, which was the lowest so far rebound within this pattern. The 4H MA200 (orange trend-line) is the short-term Resistance while the 1W MA50 (red trend-line) the long-term Support, where closing below restores the bearish trend for more months to come. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
5
EURUSD: Direct Higher Low on the Channel's bottom. Buy signal.EURUSD made a direct hit at the bottom of the long term Channel Up pattern. This is a Higher Low on the upward sequence and the slightly red 1D technicals (RSI = 39.887, MACD = -0.004, ADX = 31.250) historically indicate within this pattern that this is the lowest risk buy entry. In addition, the 1D RSI made the Higher Lows pattern on the S1 zone, which is consistent with the Channel bottoms of May 31st and March 8th. We have a buy position now, aiming at a +5.50% extension (TP = 1.13600). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
7
EUR/USD - JUST A CORRECTION? The price unfolds as previously forecasted. Currently we finished 5 subwaves in the upside that formed the corrective Wave A, as part of the Wave 4 from the bigger 5 Waves on the downside now. We will expect the corrective Wave 4 to continue to unfold, before we can say for sure that the Wave 5 impulse started on the downside! See the chart for a more clear idea of what I'm talking about. Thank you! From a fundamental perspective, there are a number of factors that are weighing on the euro. The European Central Bank (ECB) is expected to keep interest rates low for the foreseeable future, which makes the euro less attractive to investors. Additionally, the eurozone economy is facing headwinds from the ongoing war in Ukraine and rising inflation. From a technical perspective, the EUR/USD pair is trading below the 200-day moving average, which is a bearish signal. The pair is also trading below the support level of 1.0832. If the pair breaks below this level, it could decline to the next support level of 1.0609. However, there are some technical indicators that suggest that the EUR/USD pair could be bottoming out. The Relative Strength Index (RSI) is approaching oversold levels, and the stochastic oscillator is crossing over from oversold territory. This suggests that the pair could be due for a rebound. Overall, the EUR/USD exchange rate is facing a number of headwinds from a fundamental perspective. However, there are some technical indicators that suggest that the pair could be bottoming out. Traders should closely monitor the price action in the coming days to see if the pair can break out of the current downtrend. I hope this post is helpful. This analysis represents only my personal thoughts and knowledge at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
Short
by YExplore