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EURO-USD

#Euro Dropping, USD Bulls Targeting 1.0860 in a BreakoutPast Performance Euro bulls are losing momentum, allowing USD bulls to double down. As it is, EURUSD is within a bearish formation with primary resistance at $1.1100. With prices below the middle BB and 1.0965 broken, sellers can look for entries with targets at 1.0860 and 1.0730 being immediate and medium-term targets. #EURUSD Technical Analysis After sharp gains from March through April, prices are cooling off in a welcomed retracement. There is a double top following rejections of bulls early this month. Since prices are below the middle BB and 1.0965, breaking out below the range, traders can search for unloading opportunities. Tight resistance remains at 1.0965, but ideally, resistance remains at 1.1100. Short targets will be at 1.0860 and 1.0730, key reaction points of the Fibonacci retracement levels of the March to April trade range. What to Expect? USD bulls will likely press on, reading from the current sharp losses in the European session. Prices are dropping as USD bulls have broken below yesterday's lower range. As such, the bearish preview stands as long as prices are below the middle BB and $1.1100 Resistance level to watch: 1.1100 Support level to watch: 1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
GBPAUD Possible Long Setup H1On this pair, we have a market that is in conflict between two zones, one of supply and one of demand. According to my strategy, both zones are valid for the search for long or short scenarios. At the moment, the market has created a bullish setup that I have highlighted in yellow in the 1.86 zone. The objective will be to wait for the price to reach that zone and then aim for a long position with a target of 1.875. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Long
by EdgeTradingJourney
EURUSD BREAKS OUT TO NEW HIGHSThe daily chart seemed to have put in the low for the month of May. Additionally, yesterday's daily candle closed above the daily resistance level of 1.10500 -- as drawn on the chart below. Therefore, for this trade, I'm looking for a BUY after a retest of the broken resistance level for a potential 8:1 reward/risk ratio. A close below 1.10500 would invalidate this trade. Also, we are approaching a key level 1.11200 -- keep an eye on that. Good luck! ~ Happy Trading, Cheers! 💰
Long
by Kav1ka
EURUSD Outlook 31 March 2023Recent Euro data indicated that inflation growth in Germany has eased which was one of the contributors towards the upward move on the EURUSD. Overnight the EURUSD traded up to the 1.0930 resistance area, but has since retraced below the 1.09 round number price level. If the DXY bounces strongly from the 102 price level, with a sustained recovery in strength, look for the EURUSD to trade below the 1.0860 price level to signal a more sustained downside potential toward the 1.0760 support level. However, following with the trend, if the EURUSD breaks above 1.0930, the next key resistance level is at 1.1035 (which was the last swing high, reached in February(
Long
by JinDao_Tai
US Futures - Mid-UK Open - Rejection of 4,000?Good morning! Let's take a look at today's financial news. European shares rebounded yesterday, with bank shares leading the way, after authorities and regulators took action to ease concerns about the global banking industry. The US banking system was also affirmed to be "sound and resilient" by the US Financial Stability Oversight Council . Meanwhile, business confidence in Germany , the largest economy in Europe , improved more than expected, mainly due to business expectations . Gold prices dropped for the second consecutive session to below $1,970 per ounce on Monday, following government efforts to stabilize the banking system. The Federal Deposit Insurance Corporation announced that First Citizens Bancshares Inc. would acquire Silicon Valley Bank's deposits and loans, which helped soothe investors' anxiety for now. Deutsche Bank shares also rose by over 3% in Europe . Earlier this month, fears of an economic recession caused by recent banking turmoil in the US and Europe led to investors seeking the safe-haven of gold , pushing its price up by more than 7%. The pound sterling fell to $1.22 on Monday, down from its seven-week high of $1.234, due to concerns about the global banking system and the possibility of a recession in the US . Last week, global bank shares fell following the sudden collapse of two US lenders and the rescue of embattled Swiss bank Credit Suisse . However, investors welcomed the news that First Citizens BancShares Inc. would acquire all of Silicon Valley Bank's deposits and loans from the regulator. Meanwhile, the Bank of England increased its key bank rate by 25bps to 4.25%, while leaving the door open for more rate hikes should inflation persist. The euro remained slightly above $1.075 on Monday, down from its seven-week high of $1.0929, due to investors dumping riskier currencies amid worries over global banking turmoil and recession . Despite this, the Euro is likely to regain ground as the policy divergence between the ECB and Federal Reserve is set to widen. In contrast, markets expect a near 90% chance that the Fed stands pat in May and delivers a rate cut in July. Brent crude prices reached over $75 per barrel on Monday, building on gains from the previous week as assurances from US regulators [/b
U
by TayFx
2
EURO cup and Handle?I originally predicted the dollar to pull the pair back to parity, but I may have to invalidate that prediction. Currently the pair seems to be forming a cup and handle pattern. The handle will allow the dollar to pull the pair back onto the critical support at 1.07, the 61.8% Fibo retracement rate. This rate also coincides with the blue 23.6% Fibo and the 50-day MA currently at 1.072. If the dollar fails to hold the pair below the 50-day MA rate and the critical support at 1.07 it could allow the euro to push the pair back towards 1.15 (the high just before the Fed started its hiking cycle).
by Goose96
1
EURUSDEURUSD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
2
EURUSD weekly chart: Trendline retestIf we look at weekly chart of EURUSD , we see a classical trendline retest (price nicely broke down the trendline in April 2022, with a valid breakdown after Tom Demark criteria). Price is likely to continue bearish next months. Tom Demark breakdown projection sends us below 1.00. Price also failed to establish itself in the yearly bull zone - above yearly Camarilla R1, rejecting from there. Typically, from the yearly close, price travels either to above yearly Camarilla R3 or below yearly Camarilla S3 Hence a downtrend to yearly S3 (1.0) is quite likely. For educational purposes only.
Short
by ICFX
1