EURUSD: Rejection at 1.067 is a Buying OpportunityThe EURUSD broke through the 1.080 resistance level quickly, but was just as quickly rejected and closed below the level, returning to the channel it was previously moving in. I expect the price to retest the resistance at 1.080 before falling to the strong monthly support level at 1.067, where it coincides with the 61.8 Fibonacci and the 100 and 200 moving averages on the 4-hour chart. Below it is an annual uptrend line, so any rejection at this level would be a buying signal.
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Eurodollar
Euro to CrashWe're still anticipating one more low for the Euro against the Dollar. As you can see the move down in the last few weeks has been 5 minute waves down to make a minor wave 1. We moved quite sharply up last week in what looks to be a blowoff top to finish the minor wave 2 and we anticipate a very sharp move down over the coming weeks to complete a minor wave 3 taking us back towards parity. shorting from current prices should provide a very nice return over the coming weeks and months. It seems traders have become overly bullish on Europe and this is likely about to change, with Credit Suisse and now likely Deustche Bank about to go over the edge as well, the European banking system isn't as strong as the ECB will have you believe and with Putin making moves to escalate the war in Ukraine further still by moving tactical nuclear weapons into Belarus the sentiment might be about to change. In addition to this we are forecasting that the US economy will continue to show more strength than the EU's and inflation looks to be on the rise again globaly, the Fed will likely continue on their path of rate hikes or at least maintaining the 'higher for longer policy'. All of this leads us to believe shorting the Euro will turn out highly lucrative in the weeks to come.
EUR/USD Daily Chart Analysis For Week of March 24, 2023Technical Analysis and Outlook:
The currency has completed our Inner Currency Rally 1.092 as well, posting new Mean Res 1.085 with a possibility of the retest of the letter. The main down path target is Mean Sup 1.074 - Resumption to Inner Currency Dip of 1.046 is in progress.
Best zone for short in Eurusdwe had a bullish choch in the daily timeframe, so if i want to take a risk and if i want to open a short position (with a low probability of activation), I will do so from the two specified areas and i avoid getting short on gaps, because the trend is bullish (in the bigger timeframe(daily))
GoodLuck everyone.
💵Euro/U.S.Dollar💵Analyze (Short Term, 03/24/2023)!!!The Euro/U.S.Dollar managed to form an Expanding triangle pattern, and it broke the upper line of the pattern and the 🔴resistance zone($1.088-$1.078)🔴 invalidly.
I expect the Euro to drop down to the 🟢support zone($1.05-$1.046)🟢.
🔅Euro/U.S.Dollar Analyze ( EURUSD ), 4-hour Time frame ⏰.
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EUR/USD: Pullback 50% 61.8% FIBO For a New LONG SetupAccording to ING economists, the EUR/USD pair has retreated after surpassing the 1.0900 mark. Nevertheless, they anticipate that the pair will reach the level of 1.1000 in the near future.
Today, market focus will be on the PMI readings in the Eurozone. ING predicts that the survey will stabilize around the figures from February. Unless there are any major surprises, the PMI releases are unlikely to have a significant impact on the market as the macro fundamentals are currently playing a secondary role to the financial market's stress.
ING suggests that the Dollar bias will remain bearish, and European currencies will be supported by hawkish central banks and a less volatile banking environment, which could lead to the testing of the 1.1000 level in the near future.
EUR/USD Continues to Climb, Testing 7-Week HighsOn Thursday, EUR/USD remained strongly bullish and showed no signs of slowing down. The pair managed to hit fresh 7-week highs, testing the 1.0930 level. This consistent upward trend can be attributed to the persistent selling pressure on the US dollar, which resulted in the USD Index (DXY) hitting multi-week lows, falling below the 102.00 level earlier in the day. The dovish hike by the Fed during its Wednesday meeting, coupled with Chair Powell's downbeat message at his press conference following the rate hike, also contributed to the pair's upward momentum.
The European Commission will release the flash EMU Consumer Confidence for the current month, which will likely have an impact on the euro's performance. In the US, weekly Claims, Chicago Fed National Activity Index, and New Home Sales are expected to be released.
The EUR/USD pair's optimistic outlook remains intact, and it looks to consolidate its recent strong rebound past the 1.0900 resistance level. The pair's immediate target is the 2023 high near 1.1030. The pair's future price action will be largely dependent on the US dollar's movement and the European Central Bank's potential next moves, considering the current context dominated by elevated inflation, although amidst dwindling recession risks for the time being.
LONG EURUSD (Daily Timeframe)Following up on my previous post below and zooming in thru the daily timeframe:
EURUSD is at the resistance area (supply zone) 1.08 and holding on. A break above may be confirmed today after FOMC and Fed rate decision.
A break above, will lead to the upper channel of the correction uptrend (ABC) and to the next resistance and supply area at level 1.15 as next target.
Euro can continue rise and reach resistance line of channelHello traders, I want share with you my opinion about Euro. Looking at the graph, we can see how the Euro formed resistance area 1.0790-1.0805 from which the bounce back and begin to decline. The price dropped and created a support zone 1.0535-1.0515, from which it began to move up and created an upward channel. We also see how earlier the price made the downward impulse, broke through support of channel and retested the support area. After retest of the support area, the price returned to the channel and continued to move upwards and break through resistance level 1.0760. Euro make small correction to support level, retested it and continue to grow. Now the price is close to the resistance area and can continue to move and break through it. I think that after a possible breakdown of the resistance area, the price can keep moving up, so I decided to set two goals at level 1.0805 and at level 1.0830 which coincide with the resistance line of channel. Please share this idea with your friends and click Boost 🚀
💵Euro/U.S.Dollar💵Analyze (Short Term, 03/20/2023)!!!Euro /U.S.Dollar was able to make a rising wedge pattern near the resistance zone.
Because of the previous bearish Sharpie move that is evident on the chart, I expect at least Euro /U.S.Dollar fall to the support zone.
🔅Euro/U.S.Dollar Analyze ( EURUSD ), 1-hour 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.
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EUR/USD -16/03/2023-• Technical picture in favor of the bears
• 2 bearish patterns on daily chart
• First pattern is the broadening pattern highlighted in yellow
• Second pattern is head and shoulders highlighted in green
• 1.0500 support is very critical at the moment ( neckline of head and shoulders and previous pivot low )
• Yesterday's drop penetrated the 20 MA which is now acting as resistance
• Bulls need to overcome 1.0730 resistance to turn the trend in their favors
EUR/USD remains above multi-month uptrend lineEUR/USD
Despite that current price is above the multi-month uptrend line (September 2022 low - January 2023 high), current price remains vulnerable to the key support at 1.0525, the fact that price did pierce below the 1.0525 level yesterday does raise the risk that there could be another attempt for price to test the 1.0525 support. A clean break below the key support could trigger a further downside push towards 1.0440.
Bearing in mind that 1.0440 does intersect at 2 technical levels (see chart) which could build the case that 1.0440 has potential to become established as the next key support level provided the 1.0525 support fails to hold.
(a) The December 5th 2022 low at 1.0440 intersects on the prevailing upward trend line (see chart)
(b) The 26 week moving average also intersects at 1.0440 (see chart)
Conclusion: Provided price can hold above the multi-month trend line the prospects for the prevailing long term uptrend to continue remains.
💵Euro/U.S.Dollar💵Analyze (Short Term, 03/10/2023)!!!Euro /U.S.Dollar reached the top of the descending channel for the third time while it sees the 🔴resistance zone($1.07220-$1.06850)🔴 above.
It also seems that the RSI indicator is forming an Expanding Triangle pattern in the 4-hour time frame.👇
I expect the EUR to break down to the 🟢support zone($1.050-$1.046)🟢(maybe more) based on my analysis of the DXY as well as the high points.👇
🔅Euro/U.S.Dollar Analyze ( EURUSD ), 4-hour 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.
CPI Should've taken us Above 1.07371 Daily Level ?My expectations for EU Bulls and CPI data missed. Even though my bias is still Bearish on EU as long as we hold below 1.07371 on the 4hr, I Would've liked to see Bulls prove me wrong and take us up to the next 4hr level at (1.07625) This did not happen.
EUR/USD cautious before US CPI release - SHORT IDEAAfter reaching multi-week highs near 1.0750 earlier this week, the euro currency is losing momentum and pushing the EUR/USD pair back to the 1.0680/75 area. The recent moderate recovery in the greenback is contributing to the currency pair's correction, as well as concerns about the US banking sector and speculations about the Fed's upcoming decisions on interest rates.
EU Already up 90 Pips on week? beware of FOMO. After gapping up 40 Pips, then creating another leg up 50 pips Higher High to 1.07392 Daily Zone, I can see fomo kicking in. I think it's likely that
we will see a harsh liquidity pullback to 1.06895 Daily Zone before a further bullish continuation on the week ( which just began! ) Already moved up 90 pips..
quite a move for EU during the first session of the week. Short term at least looking for fakeout during London Open (1st of the week). CPI on Tuesday, We'll see how the first
few sessions of the week unfold here.
Key Levels to Watch for EURUSD Reversal SignalThe EURUSD has completed a double bottom pattern on the daily timeframe with a breakout above the neckline, indicating a shift towards a bullish trend. However, with every strong move and breakout, there is usually a corrective move to retest the broken level. I expect the price to retrace to either 1.06897, which is a previous support and neckline, 1.06601, which is the upper channel line that was breached, or even 1.06231, which is the confluence of the 50 and 100 moving averages on the 4-hour timeframe and the 200 moving average on the hourly timeframe, which the pair tends to return to after every extended move. From one of these three levels, we will wait for any reversal signal to enter a buying opportunity up to 1.0750
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