EURO - Price can bounce up to $1.0900, breaking resistance lineHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to trades in flat, where it some time decliend to support area, after which it started to grow.
Price left flat, and then reached $1.0935 level and even entered to resistance area, where EUR little time traded.
After this, Euro broke $1.0935 level and fell below, after which price rose to this level again and made downward impulse.
Euro fell to support line, breaking $1.0820 level, but soon it turned around and made upward impulse to resistance line.
Also, price broke $1.0820 level again, and reached resistance line, but recently it fell and then started to rise.
In my mind, Euro can little decline and then bounce up to $1.0900, breaking resistance line.
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Euro
HelenP. I Euro will fall to trend line and then start to move upHi folks today I'm prepared for you Euro analytics. Some time ago price fell to the support zone, which coincided with the 1.0730 support level, and at once turned around and made a strong impulse up to the resistance level. After this, the price made a small correction movement and later continued to move up, and soon EUR reached a resistance level, which coincided with the resistance zone again. Price broke this level, made a retest, and rose to the trend line, after which it turned around and started to decline. In a short time price fell below the 1.0870 level, breaking it, and continued to move down near the trend line. Soon, the Euro fell to a support level, after which the price at once rebounded and made impulse up higher than the trend line, thereby breaking it. Recently price reached a resistance level also, but soon turned around and started to decline, so, I expect that the Euro will decline to the trend line and then rebound up. That's why I set my target at 1.0835 points. If you like my analytics you may support me with your like/comment ❤️
Analyzing EUR/USD: Reversal Signals and US Data ImpactThe EUR/USD pair surged with bullish momentum during Wednesday's session, propelled by a robust bullish impulse. However, the price has now entered a potential reversal zone, characterized by a Double top formation on the H1 timeframe. Additionally, on the H4 chart, the price has reached the 61.8% Fibonacci level, accompanied by overbought conditions and divergence in the RSI indicator. Traders may consider mitigating their positions with a reversal to the Point of Control (POC) volume value, or alternatively, opt to sell their positions.
The downtick in the ISM Services Purchasing Managers' Index (PMI) data from the US instigated a selloff in the US Dollar (USD) during Wednesday's American session. The PMI headline figure declined to 51.4 from 52.6, indicating a slowdown in the growth of activity within the service sector. Moreover, the Prices Paid Index fell to 53.4 from 58.6, signaling a softening in input inflation within the sector.
Despite these developments, Federal Reserve (Fed) Chairman Jerome Powell reiterated that the central bank is not hastening to lower the policy rate. Powell emphasized the importance of letting incoming data guide their policy decisions, indicating a patient approach.
The upcoming release of the Nonfarm Payrolls data by the US Bureau of Labor Statistics on Friday adds further uncertainty to the market. As traders await this crucial jobs report, market participants may adopt a cautious stance, potentially influencing trading activity.
In light of these factors, we anticipate a reversal in the EUR/USD pair, with market sentiment likely to shift amidst the release of key economic data.
EUR/USD Analysis before NFP(4/5/2024)In our last analysis, we had anticipated the EUR/USD FX:EURUSD price to have a minor correction but the correction has exceeded our expectations and the price moved to higher levels.
We have some resistance in the 1.09 zone, so we are expecting the price to reach there.
Our technical view has been shown in the chart.
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Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
EURAUD Strong sell opportunity within the Channel Down.Last time we made a call on the EURAUD pair (January 02, see chart below), we caught the best buy entry right at the bottom of the former Channel Down that easily hit our 1.6600 Target:
This time we are presented with a strong sell opportunity as the price just broke yesterday below the March 07 Support, making a new short-term Lower Low. This confirms the longer term bearish extension towards the Channel Down bottom for a new Lower Low. We are going for a standard (for this Channel Down Bearish Legs) -4.25% decline from the top, targeting 1.60350.
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Strifor || EURUSD-Week StartingPreferred direction: BUY
Comment: At the beginning of the coming week, the buy-priority for the euro remains. The previous week showed nothing in terms of volatility. The coming week is expected to be hot, and reasons for volatility can be found in the economic calendar.
As before, the main target for medium-term growth is the level of 1.09000 . Scenario №1 assumes maximum growth from current prices, but we do not exclude scenario №2 with a short-term fall towards the level of 1.07500 .
Additional comments on this trade will be provided as situation changes. Follow us!
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EURUSD Heavy rejection on the 1day MA100.The EURUSD pair got rejected today exactly on the 1day MA100, touching it for the first time since March 21st.
That took place very close to the Falling Resistance of the Bearish Megaphone pattern, which adds more selling pressure on it.
The ssell signal will be confirmed once the 4hour RSI crosses under its MA trend line.
Sell and target 1.07230 (top of Support Zone A).
Previous chart:
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Bullish or Bearish...? Multi Time Frame Analysis
Hey guys!
Over the past 2 weeks, we have seen the EURUSD pair go deep down. The beautiful part is that it played out well according to our analysis and prediction. So let's try again.
This time, we see this pair switch like a flipped coin from a long bearish to a steep bullish climb. Will this be the end of the bearishness, and are the Bulls to resume taking prices higher?
Or is this just one of those usual bullish pullbacks within a larger timeframe Bearish swing?
Watch this short Multi Time Frame Analysis to find out.
Please share your thoughts on this pair's price movement. Dont forget to Boost and to share with other traders
Euro can make correction move and then continue to growHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a not long time ago entered to upward channel, where it reached the resistance line and then at once rebounded down to the 1.0800 support level, which coincided with the buyer zone. After this, EUR continued to move up in the upward channel and soon reached a resistance level, which coincided with the seller zone and broke it, thereby exiting from the upward channel too. Then price some time traded in the seller zone, after which turned around and started to decline in a downward channel. Euro at once broke the 1.0920 level and then fell to the support line of the channel, and then it rebounded up to the seller zone, but at once turned around and fell back, making a fake breakout of the 1.0920 level. Next, the price broke 1.0800 also, after which it some time traded in the buyer zone and declined to support line of the downward channel. But a not long time ago Euro turned around and made an upward impulse, thereby breaking the 1.0800 level one more time and exiting from a downward channel also. At the moment, I think that the Euro can make a correction movement first and then continue to rise to the 1.0920 resistance level, which is my target as well. Please share this idea with your friends and click Boost 🚀
EURO - Price can bounce up from resistance area to $1.0850Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to trades in big flat, where it at once bounced from $1.0795 level and tried to rise.
Euro failed and fell back to $1.0795 level, but soon it made upward impulse to resistance zone, breaking resistance level.
Price repeated breakout of $1.0940 level two times and then fell to $1.0835 points, after which bounced up.
Then price continued to decline in wedge, where EUR declined to $1.0795 level and broke it, thereby exiting from flat.
But recently price bounced up from support line and rose to resistance area, exiting from wedge.
Now, I think Euro can try to break resistance level, and if it does this, that EUR can rise to $1.0850
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EUR/USD Sees Volatility Amid USD Weakness:Swing Trading ApproachThe EUR/USD pair experienced notable volatility on Tuesday, following our previous forecast indicating a potential bearish continuation. Despite initially touching previous support-turned-resistance levels, the pair managed to close in positive territory. Currently, it remains within our Fibonacci levels of interest, signaling a possible continuation of the bearish trend. Our strategy for EUR/USD swing trading revolves around anticipating another bearish impulse.
The USD exhibited weakness during the American trading session on Tuesday, providing support for the rebound in EUR/USD. Despite a negative shift in risk sentiment, investors refrained from placing bets on an extended USD rally.
Market participants are now closely watching the release of the ADP Employment Change data from the US. Forecasts suggest an increase of 148K jobs in March. Any print at or below 100K could trigger a selloff in the USD, prompting an immediate reaction.
Additionally, the ISM Services PMI data is set to be featured in the US economic docket. Earlier in the week, the USD showed strength following better-than-expected ISM Manufacturing PMI data, particularly the sharp rise in the Prices Paid Index. A similar reaction may occur if the ISM Services PMI beats analysts' estimates.
In light of these developments, our outlook for EUR/USD leans towards a bearish continuation of the trend.
EUR/USD minor correction before 1.07(4/2/2024)Nothing has been changed since our last analysis. EUR/USD is still bearish.
But we may see some minor corrections because every indicator are in oversold and DXY is correcting too.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
EUR/USD Descends Below 1.0750 Following US Manufacturing GrowthThe EUR/USD pair faced significant bearish pressure during the American session on Monday, plunging to its lowest level since mid-February, breaching below the key support at 1.0750. The pair's next potential support zone looms at 1.0700, unless it manages to stabilize above the 1.0760 mark.
This downward movement in EUR/USD followed the release of US ISM Manufacturing PMI data, which revealed a notable increase to 50.3 in March from 48.4 in February. This marked the first time since September 2022 that the manufacturing sector showed signs of expansion, alongside heightened input price pressures.
As a result of this positive data, the likelihood of the Federal Reserve maintaining its policy rate in June rose above 40%, compared to 30% before the PMI release. Consequently, the US Dollar strengthened against its counterparts, exerting downward pressure on EUR/USD.
Despite Tuesday's initial bullish impulse, in line with our previous forecast, the overall sentiment for EUR/USD remains bearish, with the possibility of further downward movement. The release of the JOLTS Job Openings data for February by the US Bureau of Labor Statistics, along with speeches by several Fed policymakers, will be closely watched for market cues.
Depending on the tone of these speeches and any hints regarding future monetary policy, the USD may experience fluctuations. Should Fed officials suggest a potential rate cut in June, the USD could face selling pressure, potentially aiding a rebound in EUR/USD. Conversely, hawkish comments could bolster the USD and extend the downward trajectory of EUR/USD.
In summary, with the US manufacturing sector showing signs of improvement and Fed policy decisions looming, EUR/USD is poised for continued volatility. A bearish trend continuation is anticipated, pending further developments in US economic data and Federal Reserve communications.
Our Previous Forecast:
EURUSD formed the 1st 1D Death Cross since September!The EURUSD pair quickly hit our 1.07250 Target, which we set on our most recent sell signal (March 27, see chart below):
Moving out to the 1D time-frame we can see that this is the Bearish Leg of the long-term Channel Down pattern that started at the beginning of the year and we are only halfway through it. Also the pair just completed the first Death Cross on the 1D time-frame since September 29 2023. That is a strong enough sell signal on its own.
As long as the price keeps closing 1D candles below the 1D MA50 (blue trend-line), we will remain bearish, expecting a new Lower Low on this 3-month Channel Down. The previous was formed on a -4.00% decline, so a repeat of that targets 1.05500.
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EURCHF: Very Bullish Outlook 🇪🇺🇨🇭
EURCHF is trading in a strong bullish trend on a daily.
After the pair set a new higher high, it retraced to a solid rising trend line.
Analyzing the reaction of the price to that,
I spotted a double bottom pattern on a 4H time frame.
With the release of CHF/EU fundamentals this morning,
the pair successfully violated its neckline.
We can expect a bullish movement at least to 0.9773
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EUR/USD Rebounds Amidst US Exceptionalism: What Lies Ahead?The EUR/USD pair experienced a significant decline towards the end of last week, driven by the release of Eurozone and US flash PMI data. These figures underscored the perceived strength of the US economy, leading to speculation that the Federal Reserve (Fed) may reconsider its aggressive stance on interest rate cuts.
The data painted a picture of US exceptionalism, suggesting that the American economy continues to perform relatively well compared to its European counterpart. This sentiment has raised doubts about the Fed's projected timeline for interest rate cuts, potentially prompting a more cautious approach from the central bank.
A slower pace of rate cuts by the Fed could bolster the US Dollar, as higher interest rates typically attract greater foreign capital inflows. As a result, the EUR/USD pair may face continued pressure, with potential resistance levels seen around the 1.08600 to 1.08900 area before resuming its downtrend.
Traders are advised to monitor these resistance levels closely and consider implementing limit selling positions in anticipation of a potential reversal. Additionally, today's release of US New Home Sales and the Chicago Fed National Activity Index may provide further insights into the health of the American economy, influencing market sentiment towards the EUR/USD pair.
EUR/USD Analysis: Exploring Reversal OpportunitiesEUR/USD maintains its position around 1.0860 during the early European session on Tuesday, following a positive close on Monday.
The USD experienced slight selling pressure, allowing EUR/USD to gain traction at the beginning of the week. However, the pair now finds itself within a potential reversal zone, prompting us to monitor for any discernible patterns before considering entry points.
Later today, the US Census Bureau is set to release Durable Goods Orders data for February. Expectations suggest a 1.3% increase following January's 6.2% contraction. While a positive reading could initially bolster the USD, any gains may be tempered unless there is a notable shift in risk sentiment.
As traders, we are closely observing the price action in this critical area, awaiting potential signals for a short entry opportunity.
HelenP. I Euro can fall to trend line and try to break itHi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price declined to resistance 1, after which at once rebounded and rose to almost resistance 2, but then it fell to the trend line. Then price rebounded from this line and broke resistance 2, which coincided with the resistance zone, after which the price some time traded near this area. Later Euro turned around and fell lower resistance 2, breaking it again, but then it tried to back up, and rose to the resistance zone. But the price in a short time turned around and fell to resistance 1, which coincided with the support zone and trend line, after which rebounded and tried to rise more. Price failed and soon declined back to resistance 1 and recently broke it, after which fell to the trend line. But a not long time ago EUR backed up to the support zone, where at the moment price continues to trades inside. For my mind, the Euro will rise to resistance 1 and then continue to decline to the trend line, which maybe try to break, and after this price can decline more. Therefore I set my target at the 1.0725 level. If you like my analytics you may support me with your like/comment ❤️
Euro H4 | Rising into resistanceThe Euro (EUR/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 1.08414 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level.
Stop loss is at 1.08800 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance.
Take profit is at 1.07823 which is a pullback support.
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