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Eurodollar

Is there an Ocean Floor? 🌊 EurUsdWe have Seen 2 Colossal moves on EU in the last Day. Yesterday was tremendous buys to begin the week as Every Session saw a bullish push up to HTF Levels and Extreme prices around 1.105. For Breakout Traders we saw a Trap near Weekly Highs at Weekly Level 1.1056. Why would you place buys up there without a Daily candle close confirmation above 1.1045 Daily level IDK to be honest. Yet it was still brutal for buyers as price dropped back to more attractive prices. I was one of the buyers but I flipped my bias bearish as mentioned in Yesterday's publishing. I stated that " For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week " . So based off this I let go of my Ego and began taking sells and it went well. Moral of the story.. follow your trading plan and utitlize tight risk management. Taking a step away from the computer and going AFK can help with psychology enormously. The brain is able to do a reset and when you return, it's in a more optimal state. With that said More Analysis : Looking for a pullback to 1.098 4Hr Zone for Asian and continuation of momentum to the downside. Observing the potential Daily Candle bearish engulfing and hard push to upside early in the week on Mondya, I like more opportunities to the downside. Weekly target is looking like 1.086 which would be a break and retest on the Weekly timeframe. 1.086 being a weekly Level. For buys I would like to see support at 1.0953, maybe consolidate and move up from there.
Short
by ShrewdCatfx
EURUSD falls by Fan Principle at Top pattern💣EURUSD is falling by Fan Principle at the top pattern; if the third line breaks down, expect EURUSD to reach the support line. Since DXY will be bullish, there is a very high probability of completing Fan Principle at top pattern.👇 🔅Euro/U.S.Dollar Analyze ( EURUSD ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
35
EUR/USD -17/4/2023-• Mixed picture on the weekly EUR/USD chart • We have bullish and bearish signs • Bullish signs: Uptrend line still intact despite recent drop • Still within weekly corrective levels. Prior rally from 0.95 to 1.10 retraced to almost 38.2% • Descending trend line from May 21 high has been successfully broken in Dec 22 • However, latest leg up from 1.05 to 1.10 didn't experience any correction yet, so last 2 days drops could be potential weekly corrections that might bottom anywhere between 1.0860 and 1.0730 (38.2% and 61.8% respectively) • On the other side, the bearish signs are: The latest leg up failed to make a new high. Instead, it made a double top and bulls were unable to sustain and confirm the breakout. • A potential double top pattern may be building, with neckline at around 1.050 • A break of 1.050 with several successful daily closes below it, will turn the odds in favor of the bears and we might see the parity level re-tested again
by RamziAbouAbdallah-CMT
EUR/USD -15/4/2023-Here's a short term analysis on the pair • Labelled the March-April 3 waves of rally as 1,2 and 3 respectively I am going to discuss the market's behavior and yesterday's sudden fall despite bad figures for the U.S • Prices never keep going in one direction as a straight line. They rather retrace because of traders taking profit and Stop Losses being hit etc.. And whenever there is a correction, long term traders rather wait for better prices to re-enter again. This is how trends are formed, reflected by higher highs higher lows in an uptrend and vice versa for the downtrend. • Wave 1: Euro rallied from 1.0520 to 1.0920, a massive 400 pip move which normally is followed by a retracement. Unsurprisingly, that is what happened next; market retraced back to the 50% Fibonacci level. • Wave 2: Rally from 1.07 to 1.0970, almost a 300 pip move was also followed by a correction to the 50% level. • And now we are in the 3rd wave: Rally from 1.0830 to 1.1070, a 200+ pip move. Yesterday was the first red candle this week following a 3 day sharp rally. Prices yesterday dropped to the 38.2% Fibonacci level and went back up again to close above it. What is next? • If the same scenario were to repeat itself, we might see a sharper decline to the 50% level at 1.0950 before making a new high. Why? Because in my personal opinion, the broader trend is up and FED-ECB policy are converging more and more. Plus, interest rates differential is tightening which will favor the Euro. The US Dollar has been rallying for almost 2 years, benefiting from the gap in policies between the ECB and the FED. Since that factor is changing, I think the bull cycle for the Dollar has ended, for now.
Long
by RamziAbouAbdallah-CMT
2