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Euroanalysis

#Euro Choppy, Uptrend Valid Above $1.1000 Past Performance Overly, buyers are upbeat, but the past few trading days have been choppy and highly volatile. From the daily chart, bulls are in control, but the failure of prices to float above $1.1000 or stay below $1.0900 by close of today means traders should watch for conclusive breakouts before committing. #EURUSD Technical Analysis Trading volumes are within range, and the current price action is within a bearish formation. With the losses of June 23 conspicuous and bulls failing to convincingly close above $1.1000, the uptrend momentum is weak. Despite doubts about bulls, buyers have a chance above $1.0900. If not, any firm drop below $1.0900 by the end of the day would easily see the Euro dump to $1.0800, an opportunity for aggressive traders to ride the trend, aligning with the bear bar of June 23. On the flip side, sharp gains above $1.1000 will offer entries for buyers angling for $1.1100 in a buy trend continuation formation, confirming bulls of the March to April range. What to Expect? Euro prices are choppy, but trading volumes are decent and within range. Unless there is a conclusive close above immediate reaction levels, prices will remain in consolidation in an overly bullish trend from a top-down preview. Still, price action favors sellers at spot rates but how bears will press on today could shape the short-term trend. Resistance level to watch: $1.1000 Support level to watch: $1.0900 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Uptrend Remains; Bulls Must Break $1.1000Past Performance Euro is bullish from the top-down preview. Presently, bulls are steady when writing, looking at the performance in the daily chart. Unless there is a total reversal of June 15 and 21 gains, the uptrend remains, and the immediate support line is at $1.900. The rejection of lower lows on June 27 invalidated the bearish outlook as price action swings to favor optimistic bulls. #EURUSD Technical Analysis Losses of June 23 were reversed as buyers flowed back, pumping prices. With prices higher, bulls are back in the picture even though prices are choppy and volatile. Aggressive traders may look for entries above $1.0900 and June 23 close. However, better entries may be above $1.1000 or last week's highs. A high-volume close with the same rapidity as the June 23 bar could easily lift Euro toward $1.1100 and April 2023 high in a buy trend continuation formation. Conversely, sharp losses below last week's lows at $1.0840 cancel this bullish preview. What to Expect? Prices are in range and choppy though the expansion is at the back of increasing volumes pointing to participation. Even though the June 23 bar is important for price action, further gains today above $1.1000 will likely draw even more buyers into the picture, lifting prices even higher. Resistance level to watch: $1.1000 Support level to watch: $1.0900 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Bearish but Price Action In A Tight Trade RangePast Performance Based on the performance in the daily chart, euro prices were fixed in a tight trade range. The immediate trend is bearish, and $1.0900 is a critical reaction level. Moreover, the June 23 bar is an important candlestick as it shapes the short-term trajectory considering that it is wide-ranging and trading volumes are high. #EURUSD Technical Analysis Bears of last week could flow back, pressing the Euro even lower. For this to be valid, there must be a close below $1.0880 by today's close, aligning the emerging trend with the development of the June 23 bar. This, in turn, could allow risk-off traders to align with sellers of the end of last week, targeting $1.0800. Conversely, any breakout above $1.0950, or June 23 highs, with rising volumes would cancel this preview, allowing bulls to take charge. What to Expect? Traders expect a recovery from spot levels toward last week's highs. Even so, before then, traders should closely watch price action, aware that losses below $1.0880 could see bears take charge, possibly forcing prices to $1.0800. Resistance level to watch: $1.0950 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Slips But Uptrend Remains, Resistance at $1.0900Past Performance Euro is back in red, reading from the performance in the daily chart. Per this candlestick arrangement, traders can look for entries to short on every attempt higher. As it is, the immediate resistance is at June 21 low at around $1.0900. #EURUSD Technical Analysis The path of least resistance, at least in the short term, is southwards. As such, traders can look to ride the emerging trend, aligning with the sellers of June 23. Even so, trading volumes are lower, meaning the June 15 high-volume bull bar anchors the current formation. The immediate target for aggressive traders will be $1.0800, while the resistance is $1.0900. Any drop below $1.0800, reversing gains of June 15, invalidates this preview, ushering in sellers of May who may angle for $1.0500 in a bear trend continuation formation. What to Expect? Technically, buyers are in control from an effort-versus-result perspective considering the light trading volumes of the June 22 and 23 bars. Still, the bearish preview holds if prices are firmly below $1.0900. Any upswing above $1.1100 cancels this projection. Resistance level to watch: $1.0900 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Upswing Slows Down, Will Prices Hold Above $1.0900?Past Performance The uptrend remains, but there are hints of weakness. Following the drop on June 22, the Euro could register even more losses today. Even so, buyers remain in charge if prices are above $1.0900 and June 21 lows. #EURUSD Technical Analysis After sharp gains in the first half of June, the Euro is bullish. For now, support is at $1.0900, while resistance is at June 22 high. As long as prices are within the bull bar of June 21, every low may offer entries for risk-off traders from an effort-versus-result perspective. This preview stands considering that bulls are dominant and bears didn't rewind gains on June 21. As such, the immediate target remains at $1.1100 in the medium term. Any loss below $1.0900 may slow down optimistic Euro bulls. What to Expect? Candlestick arrangement favors Euro bulls despite the current retracement. In the near term, traders can expect continuation towards $1.1100 as bulls peel losses of May. If not, a drop below $1.0900 will puncture the uptrend momentum. Resistance level to watch: $1.1100 Support level to watch: $1.0900 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Euro Upswing Cools Off, Buyers Target Retest Of April 2023 HighsPast Performance Euro prices are steady when writing and trending inside the June 15 bull bar. Per the EURUSD candlestick arrangement in the daily chart, every attempt lower but above the $1.0850 support line may offer entries for aggressive traders angling for $1.1100. Any upswing above $1.0970 will trigger demand, pumping the Euro even higher. EURUSD Technical Analysis Currently, traders are upbeat, and the candlestick arrangement favors bulls. Provided prices are inside the June 15 bar; Euro buyers have the upper hand from an effort-versus-result perspective. Subsequently, traders can look to load the dips above $1.0850 or, more conservatively, above $1.0970, targeting $1.1100 and aligning with last week's buyers. This preview will be nullified if Euro prices dump below $1.0800, reversing gains of the anchor bar of June 15. What to Expect? Euro prices are relatively weak and possibly correcting the overvaluation of last week. The uptrend remains, and technical candlestick formation supports optimistic bulls. Since the retracement is with lighter volumes, the odds of buyers resuming the uptrend remain high. R esistance level to watch: $1.0970 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Euro Contracts, Uptrend Remains But Support at $1.0800Past Performance Based on the daily chart, euro prices are bullish, reading from last week's solid performance, but are now lower. Following the rapid expansion on June 14, the cool-off on June 15 means an element of overvaluation. Subsequently, Euro prices might contract but remain bullish if prices are inside the June 14 bullish engulfing bar. #EURUSD Technical Analysis The uptrend remains, and Euro buyers are in control, anchored by last week's gains. The cool-off of June 15 and 19 will likely continue. Notice that prices on June 20 were above the upper BB in the daily chart. This formation suggests that the uptrend is oversold and the currency, at spot rates, is above equilibrium. Subsequently, the Euro might track lower, likely towards the $1.0850 zone, for a balance to be struck. Any sharp close above $1.0970 nullifies this preview. However, aggressive traders may look to short on lower time frames targeting $1.0850. Losses below $1.0800 nullify this bullish outlook. What to Expect? Buyers are confident, but Euro prices appear overvalued. As such, traders can look for entries to short with targets at June 14 lows. Even so, the uptrend remains, and this immediate forecast will be void if Euro prices surge above $1.0970. Resistance level to watch: $1.0970 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro bulls confident, Traders Targeting $1.1100Past Performance The Euro march is evident, and buyers are in the driving seat, looking at price action in the daily chart. For now, traders can look for entries to load above $1.0800. On the reverse side, if bulls keep up the pace of the past week, the currency may rally to as high as $1.1100, peeling back recent losses in a buy trend continuation formation. #EURUSD Technical Analysis Presently, the path of least resistance is northwards, and the currency is recovering after losses from May. The June 15 bar anchors the current price action. As long as prices are within the bar's range, every low above $1.0800 may offer entries for traders to double down, targeting last week's highs and later $1.11000. This preview holds from a top-down preview and favors swing traders from an effort-versus-volumes perspective. Any dump below $1.0800 will likely swing price action to favor sellers, canceling the current preview. What to Expect? Euro may likely correct in the days ahead before resuming the uptrend towards April highs. This is considering the over-valuation of June 16; the bear bar closed above the upper BB. Therefore, traders should watch participation levels and whether $1.0800 will anchor the leg up in upcoming sessions. Resistance level to watch: $1.1100 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Rallying, Bulls Targeting April Highs at $1.1100Past Performance The Euro bounce is clear, and the currency is now up 2.95% from June 2023 lows. As it is, every attempt lower but within the June 15 bar is an opportunity to load up, targeting $1.1100 or April 2023 highs. Any dump below $1.0770 will nullify this preview. #EURUSD Technical Analysis The June 15 bar is wide-ranging, with decent volumes pointing to high engagement. Even though the bar confirms the bullish breakout of June 8, which also forced prices above the middle BB—or the 20-day moving average, it may be climactic. Therefore, though the first target is $1.1100, a retracement within the June 15 bar at around $1.0800 may allow aggressive traders to double down, aiming to ride the leg up. For now, the trend continues the March to April bull trend. Any loss below $1.0770 invalidates this preview. What to Expect? Euro may expand further towards $1.1100 in the days ahead. The primary trend is bullish, in sync with gains from March to April. With prices recovering from around $1.0600, the 78.6% Fibonacci retracement level of the March to April 2023 range, the Euro could retest $1.1100. Resistance level to watch: $1.1100 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Firm after FED Paused Rate Hikes, Bulls Target $1.1100Past Performance The Euro is firm at spot rates. While the FED's move to briefly pause interest rate hikes forced the currency lower in the NY session, the uptrend is clear. As such, every low above $1.0770 offers entries for aggressive traders angling for $1.0950 and $1.1100 in the medium term. #EURUSD Technical Analysis The uptrend is clear, and the Euro is bottoming up. In a bullish breakout formation, the currency trades above the dynamic resistance, now support, marked by the 20-day moving average. At the same time, it is above the $1.0770 resistance level, currently support, marking June 8 highs. This optimistic preview holds provided prices are above this clear support line, at $1.0770. As such, every low offers entries for aggressive and optimistic traders expecting an eventual retest of April highs as the price trend aligns with the March to April 2023 formation. What to Expect? The USD is firm, but price action currently supports Euro bulls. The Euro is bullish above $1.0770 and may form the basis for even more gains towards $1.0900 or better in sessions ahead. Resistance level to watch: $1.0950 Support level to watch: $1.0770 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Gains Constrained, Upside Remains above $1.0700Past Performance The uptrend remains, and the Euro could edge higher in the days ahead despite the long upper wick suggesting liquidation in the closing session of June 12. However, the bullish outlook remains provided Euro is above $1.0700 or June 8 low. #EURUSD Technical Analysis Technically, the path of least resistance is southwards from a top-down preview. Even so, following a 3.6% drop from April highs, Euro is finding support from the 78.6% Fibonacci retracement level of the March to April trade range. As such, the short-term preview is bullish, with the June 8 bullish engulfing bar anchoring this outlook. As it is, any break above June 8 highs at $1.0800, ideally with expanding volumes, may see the Euro float higher in recovery towards $1.0850 and $1.0950. Conversely, any dip below $1.0700 nullifies this optimistic outlook. What to Expect? Aggressive traders may look for entries on dips within the June 8 bar, accumulating as they expect gains from an effort-versus-result perspective. Provided prices are above $1.0700, the path of least resistance in the short term is northwards. Resistance level to watch: $1.0800 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Set for Recovery, Bulls Must Hold above $1.0750Past Performance There are attempts at higher highs in the daily chart. After losses throughout May, the downtrend could be over for the euro. Even so, the failure of bulls to push higher on June 9 questions the strength of the uptrend. The immediate support lies at $1.0750; if euro edges higher today, there may be more upsides in the days ahead. #EURUSD Technical Analysis Buyers are confident, looking at the daily chart. The bull bar of June 8 is bullish engulfing and broke above $1.0750. However, with bulls failing to confirm the uptrend last week, how prices react today could shape the immediate-term trend. Nonetheless, per the candlestick arrangement in the daily chart, aggressive euro traders may look for entries to buy the dip above June 8 lows at $1.0690 while aiming at $1.0950 or better in the sessions ahead. Any dump below this line invalidates this preview, paving the way for sellers to press on targeting $1.0500. What to Expect? The long-term preview supports bears, but the trend is shifting, looking at the daily chart. If the euro closes above $1.0750 by today's close, there might be more gains in the sessions ahead as the currency recovers. Resistance level to watch: $1.0950 Support level to watch: $1.0750 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Tears Higher, Foundation for Rally Back To $1.1100?Past Performance The recent accumulation of the Euro prices ended supporting buyers, looking at the performance in the daily chart. The Euro is trading above immediate resistance, support, and the middle BB—a net positive. From the candlestick arrangement, every dip above $1.0770 may offer an entry for optimistic traders as buyers likely extend their gains. #EURUSD Technical Analysis The rally on June 8 is a confirmation of the June 1 bull run. Although participation was relatively low, it is within range, supporting this emerging formation. As the Euro breaks higher, traders may find entries on dips above $1.0770 or within the June 8 bar should prices correct today. In that case, this outlook will remain valid, provided prices are above $1.0700. The immediate target for Euro buyers is $1.0850 and $1.0900 in the medium term. What to Expect? Following sharp losses throughout May, the Euro is bouncing from the 78.6% Fibonacci retracement level of the March to April 2023 trade range. At this pace, the Euro could eventually retest April highs at $1.1100 in a buy trend resumption formation. Resistance level to watch: $1.0850 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro prices flat-line above $1.0660, Bear Run Likely OverPast Performance Euro prices remain in consolidation within a tight range. From the daily chart, the least path of resistance is southwards, especially as long as prices are below $1.0770. Presently, USD bulls' momentum seems to be fading while Euro is finding strength above $1.0600. The results are balanced candlesticks with long upper and lower wicks, suggesting equilibrium. #EURUSD Technical Analysis EUR prices are inside the June 1 bull bar, an indicator of strength. From an effort-versus-result perspective, traders can find entries on every dip above $1.0660, targeting $1.0770 in the short term. However, for conservative, risk-on bulls, a close above the high of the high-volume, bullish engulfing bar of June 1 can offer better entries. Notably, the bar forms as EUR candlesticks print higher highs relative to the lower BB, suggesting that the downside momentum is waning. Still, as mentioned, a comprehensive breakout above the minor bear flag at $1.0770 can anchor the leg up toward $1.0850 in subsequent sessions. What to Expect? Buyers are confident as the downside momentum fades. Overall, traders are bullish, but this can only be confirmed once there is a follow-through, confirming buyers of June 1. As a result, the $1.0770 liquidation level is a vital buy trigger for optimistic Euro bulls. Resistance level to watch: $1.0770 Support level to watch: $1.0660 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Ranges inside a Bear Flag, Support At $1.0660Past Performance Euro prices are lower as USD bulls found support. Technically, the downtrend remains. In the short term, the bulls of June 1 could shape the trend. For the uptrend to take shape, there must be a sharp, high-volume expansion above $1.0770 or June 1. Conversely, sellers would double down if EUR prices slip below $1.0660 and $1.0600 in the short term. #EURUSD Technical Analysis Broadly, EURUSD remains in consolidation as a possible bar flag forms. After a sharp sell-off, EUR briefly had support but failed to confirm buyers of June 1. Amid this sideways movement, there are clear support and resistance levels. Since the dominant trend is bearish, there could be entries for shorts, provided prices are below June 1 at $1.0770. Any unexpected surge above this level may see the EUR rally to $1.0850 and higher in the session ahead as the Euro recovers. Conversely, there could be more losses towards $1.0500 should prices break below $1.0600 at the back of high trading volumes. What to Expect? Sellers have the upper hand, but prices are confined within the June 1 bull bar. With clear resistance and support as a bear flag forms, conservative traders can wait until a new trend emerges, either above $1.0770 or below $1.0660. Resistance level to watch: $1.0770 Support level to watch: $1.0660 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Rejects Sellers at $1.0660, Is The Bear Run Over?Past Performance The Euro remains volatile when writing, shaking off bears, and rejecting attempts for lower lows. With the June 5 bar closing with a long lower wick, it could suggest that the Euro found support in the late European and NY trading sessions. The immediate support and sell trigger lines remain at $1.0660 and $1.0600. #EURUSD Technical Analysis Overall, sellers have the upper hand. However, looking at the daily chart, prices are moving horizontally. Notably, the rejection of lower prices, clear in lower time frames, could form the base of a leg up towards $1.0850. Already, there is evidence of strength in the daily chart as the Asian session started off a strong footing. Still, before the shift turns bullish, traders should watch how prices react at the top of the current range at around $1.0780, marking June 2 high. A conclusive, high-volume break out propelling the Euro to new highs may trigger demand, setting the base for a leg up towards $1.1100 in the medium term. What to Expect? Euro prices remain in a broader consolidation. Even so, the leg higher and rejection of lower prices on June 5 may signal the end of the bear run. Therefore, conservative traders can wait for a clear breakout above $1.0780 before buying on dips targeting April highs. Any dump below $1.0660 and later $1.0600 cancels this preview and would fuel a sell-off towards $1.0500. Resistance level to watch: $1.0780 Support level to watch: $1.0660 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro bulls slow down, Buyers Have A Chance above $1.0670Past Performance Euro prices edged lower on June 2, reversing most gains posted the previous day. However, while USD bulls appeared to have the upper hand, trading volumes were lower, solidifying the bullish outlook. Therefore, while bears are optimistic, June 2 losses could be reversed should Euro bulls step in today. #EURUSD Technical Analysis The path of least resistance is southwards, at least looking at the performance in the daily chart. After a near 3.6% drop from April peaks, there could be hints of strength in the near term. For now, the immediate reaction points for traders should be at $1.0780 and $1.0670, defining the June 2 trade range. For the uptrend to take shape, there must be an expansion above last week's highs, ideally with rising volumes. This would open up the Euro for a possible retest of $1.0850 in the medium term. Conversely, trend continuation favoring USD bulls will only be confirmed if there are losses below $1.0670 with high participation. What to Expect? Euro bulls are optimistic, but whether the reversal initiated from the second half of last week would continue depends on if there is a conclusive close above $1.0780. If not, USD bulls would likely press on, heaping more pressure on the Euro. Resistance level to watch: $1.0780 Support level to watch: $1.0670 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
Euro Shakes off Bears as It Bottoms Up, Bulls targeting $1.0850Past Performance There is a welcomed revival in the Euro following a worrying 3.6% dip from April highs. The long lower wick of May 31 was followed by a bullish engulfing bar on June 1, reinvigorating buyers. With prices above $1.0760, there is room for further gains in the immediate term towards $1.0850. EURUSD Technical Analysis Buyers are confident of the current formation, reading from the EUR price action in the daily chart. The June 1 bar is wide-ranging with decent volumes, suggesting participation. With today's fundamental event, buyers may add to their longs, extending gains and marking the Euro bottoms. As it is, this could trigger more demand as bulls from March and April resume. Notice that the Euro has support at the 78.6% Fibonacci retracement level of the March to April 2023 trade range. As it is, Euro, if the buying pressure is sustained, could float back to $1.1100 or April highs. What to Expect? The Euro could be in the early stage of a refreshing reversal if there is a follow-through of yesterday's gains. In that case, Euro traders can double down on every attempt lower above $1.0630 and $1.0760, targeting $1.0850 in the medium term. Resistance level to watch: $1.0850 Support level to watch: $1.0630 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Sell-off, Was the Recent Drop to $1.0630 Climactic?Past Performance EUR price crashed on May 31, dropping to as low as $1.0626. However, the long lower wick at the end of the session could provide a glimmer of hope for bulls. Presently, the downtrend remains, and USD bulls are emphatic. As it is, the Euro is down 3.6% from May 2023 highs. #EURUSD Technical Analysis EUR prices remain in range at spot rates but within a bearish formation. Every attempt higher below $1.0740 may provide an opportunity for sellers to double down in lower time frames. The immediate target for day traders will be $1.0630, or May 31 lows. Conversely, if yesterday's bearish bar was climactic, marking the end of the recent bear run, there must be a comprehensive close above $1.0740 with expanding volumes. In that case, the EUR may bounce to $1.0850 in a welcomed recovery. What to Expect? Bears are dominant, and bulls are struggling to tame the drain. The drop of May 31 was with expanding volumes, and the range was relatively high. With prices inside the candlestick, there could be more sell-off waiting. However, considering yesterday's gains in the NY session, there might be some breathing space for optimistic Euro bulls. Resistance level to watch: $1.0740 Support level to watch: $1.0630 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Dumps As Sellers Double Down, Resistance at $1.0760Past Performance The reprieve of Euro bulls was quickly reversed on May 31 as the sharp liquidation ended attempts for higher highs and reversed gains. As it is, sellers are back in the picture, and yesterday’s highs at around $1.0760 will act as the liquidation line and resistance for aggressive short sellers. #EURUSD Technical Analysis The path of least resistance is defined and remains southwards, reading from the candlestick arrangement in the daily chart. Traders looking for entries should search for short opportunities in lower time frames. This applies if prices are below the critical resistance levels of $1.0760 and $1.0850 in the short and medium term. Even so, the rapidity of the sell-off has been decreasing in recent days as bear bars diverge from the lower BB. It could imply that the trend downside momentum is fading, dampening volatility. What to Expect? Sellers have the upper hand if the Euro remains below $1.0760 and $1.0850. Still, how fast prices will dump depends on if there is confirmation with a wide-ranging bear bar printing and forcing prices below yesterday’s lows of around $1.0680. Resistance level to watch: $1.0760 Support level to watch: $1.0680 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Finds No Relief, USD Bulls Press On Targeting $1.0500Past Performance From the EURUSD daily chart, it is evident that sellers are in control, taking charge. USD bulls have been relentless, and at this pace, EUR prices may easily slip to $1.0500, retesting March 2023 lows. Notably, the banding of bars along the lower BB suggests that the selling momentum is strong, indicating that there could be more losses in the days ahead. #EURUSD Technical Analysis Every attempt higher in the EURUSD chart, below the $1.0750 resistance line, could offer an entry for aggressive sellers angling for a retest of $1.0500. As it is, the candlestick arrangement strongly favors sellers who appear to be setting their eyes on March lows. Besides the alignment along the lower BB, the past few candlesticks have closed with long upper wicks showing that sellers have quashed all attempts for higher highs. As EUR breaks down lower in lower timeframes, traders could search for riding the trend. What to Expect? Without a sharp expansion above $1.0750, sellers remain in control. The downside momentum might not be as strong as last week. Still, EUR is under pressure and could continue posting losses in the session ahead since the candlestick arrangement favors USD bulls. Resistance level to watch: $1.0750 Support level to watch: $1.0500 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Bearish despite doji formation, Primary Support at $1.0700Past Performance Euro is bearish, and gains on May 26 were turbulent, supportive of sellers. However, with a doji forming and prices trending below $1.0760, there are hints that sellers could press on. Thus far, prices are around last week's lows at $1.0700 and could break lower in spite of today’s gains. #EURUSD Technical Analysis The short-term trend favors sellers. Resistance remains at $1.0760, and it is yet to be seen whether bears will press on, forcing prices below $1.0700 primary support. The doji bar on May 26 points to indecision and volatility. After sharp losses in the past two weeks, the Euro will likely bounce back, closing above $1.0760. Still, if this pans out depends on how prices react at $1.0760 in the short term. A sharp, high-volume close could see the Euro edge higher. If not, losses mirroring the recent pattern could heap more pressure on the Euro, sending it toward $1.0500. What to Expect? Sellers are firmly in control, but price action may favor short-term bulls. All this depends on if buyers will build from last week, expanding towards the $1.0760 reaction line. Resistance level to watch: $1.0760 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Bear Trend Continues, Will Prices Slip Below $1.0700?Past Performance Sellers are unrelenting, and yesterday marked another day of extension. Prices edged lower as the Euro slipped in a bear trend continuation formation. The downtrend remains, and the upside has resistance at around $1.0760, marking March 19 lows. #EURUSD Technical Analysis Bears dominate, and EURUSD is in a breakout formation, confirming last week's losses. Moreover, bear bars are riding the lower BB suggesting strong selling momentum. For now, traders can look for shorting entries on lower time frames as long as prices are below $1.0760. Based on the EURUSD candlestick arrangement, the medium-term bear target remains at $1.0500 unless a sharp, high-volume expansion reverses recent losses and drives prices above $1.0850. What to Expect? Despite the clear trend, how prices react at May 25 lows at around $1.0700 may shape the short-term trend. EUR may recover as the week comes to a close, but if prices remain below $1.0760, the downtrend remains, and bears could still drive prices to $1.0500 in the sessions ahead. Resistance level to watch: $1.0760 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer