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#Euro buyers swing back, Prices Likely To Retest $1.1100Past Performance Euro prices remain volatile, and buyers are cementing their position. Looking at the formation in the daily chart, traders can look to ride the upswing of July 7. Then, Euro prices broke above the consolidation, trending above $1.0930. This development favors bulls in the short term and may trigger Euro demand. #EURUSD Technical Analysis The rejection of lower lows last week places buyers in the driving seat. As such, traders can look for entries on every low above $1.0930, targeting $1.1000 in the short term. This formation aligns with buyers of June 15 even though the current surge has low participation. In light of this, while buyers are optimistic, conservative, risk-on traders can wait for a firm close above $1.1000 with rising volumes before engaging, targeting $1.1100 in a buy-trend formation. Any contraction forcing prices below $1.0930 and reversing July 7 gains nullifies this bullish preview. What to Expect? Traders are upbeat and the Euro is turning the corner, shaking off bear pressure. At this pace, the Euro can rise above $1.1000 and $1.1100 in continuation of the bull run set in motion from March to May 2023. Resistance level to watch: $1.1000 Support level to watch: $1.0930 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Prices Volatile As Bulls Find Strength above $1.0850Past Performance Euro is tracking higher when writing, shaking off this week's weakness, reading from how price action is panning out in the daily chart. Overall, Euro bulls may recover today. However, the support line at $1.0850 is a vital reaction level. The failure of Euro bears to force prices below this line is overly bullish. It may support optimistic traders in the short to medium term. #EURUSD Technical Analysis The support zone is between $1.0800 and $1.0850, aligns with prices bouncing off in recent trading days. From the daily chart, the June 23 and 30 and the July 6 lows recovered from this zone, marking their significance. On the upper end, there must be a conclusive close above $1.0930 for the uptrend to continue. Therefore, based on this arrangement, traders can wait for a clean break above $1.0930, and even $1.1000, before riding the uptrend, trading in the direction of the June 2023 trend. Any dip below $1.0800 will cancel this bullish outlook, allowing sellers to press toward $1.0660 in the medium term. What to Expect? The Euro has been volatile, looking at the formation in the daily chart. Despite the optimism from traders, there must be a definitive breakout (in either direction) for the trend to be defined. In the short term, sellers have a chance provided there is no firm close above immediate liquidation levels. Resistance level to watch: $1.0930 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Weak, Primary Support at $1.0850Past Performance The Euro is under immense selling pressure and edging lower when writing. Per the EUR candlestick arrangement in the daily chart, there could be more losses below the immediate support levels, should the bears press on. As it is, $1.0850 is a critical sell trigger line to watch. Conversely, gains above $1.0930 or June 30 would likely trigger demand. #EURUSD Technical Analysis Sellers have been unrelenting, and the Euro is likely to drop even lower this week. The sell trigger is at $1.0850, aligning price action with the June 23 and 29 bear candlesticks. As it is, a sharp close below the current consolidation could allow sellers to double down on every attempt higher, targeting $1.0800 in the short term. If bears further press on, the next bear target is $1.0660 or May 2023 lows. Conversely, any unexpected revival driving Euro prices above $1.0930 cancels this preview, rejuvenating stretched buyers who may target $1.1000. What to Expect? Euro is overly bullish, but prices must float above $1.1000 for the uptrend to form a buy trend continuation. Per the current formation, the odds of prices tanking to $1.0800 remain high. Resistance level to watch: $1.0930 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Edging Lower, Will $1.0850 Hold?Past Performance Euro prices are down, volatile, and without clear direction in the short term. Overall, buyers stand a chance. However, there must be clean breakouts in the days ahead for a clear trend definition. As it is, there must be a conclusive close above $1.1000 for buyers to take charge. Conversely, with the Euro edging lower, losses below $1.0850 will cancel the current bullish outlook. #EURUSD Technical Analysis The path of least resistance is northwards, from the formation in the daily chart. The failure of buyers to force prices higher, as long as bulls maintain the Euro above $1.0850, could offer an opportunity for aggressive traders to ramp on longs on dips. Still, considering the Euro's volatile nature and buyers' failure to soak in the bear momentum successfully, any drop below $1.0850 and June 23 lows may trigger a sharp sell-off. In that case, the immediate target will be $1.0800 and $1.0660. On the other hand, this will change once buyers reverse recent losses and power above $1.1000, opening up entries for an eventual ride to $1.1100. What to Expect? The euro is weak and bearish at spot rates. Aggressive bulls may look to align with the buyers of June 15. Conservative traders, on the other hand, should wait for a clear trend definition above/below medium-term reaction levels. Resistance level to watch: $1.1000 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Rejects Bear Pressure, Will Bulls Break $1.1000?Past Performance The Euro remains bullish but consolidating inside a tight trading range. Overall, the path of least resistance, at least from the top-down preview, is northwards. Technically, the March to May 2023 uptrend shapes the current preview. Therefore, while there were elements of weakness, the Euro remains bullish above $1.0800. #EURUSD Technical Analysis From the daily chart, Euro buyers are upbeat, and this holds considering the failure of sellers to push prices below $1.0800, unwinding gains and confirming the drawdown of June 23. For now, buyers are struggling to maintain the upswing, and every low could be entries for buyers. In the current consolidation, optimistic traders can wait for a conclusive close above $1.1000 before riding the emerging trend, targeting $1.1100. Conversely, losses below $1.0800, confirming the sellers of June 23, may see prices drop to $1.0650, or June lows. What to Expect? Even though there was a welcomed recovery in June, there must be more gains above last month's highs for trend continuation. Buyers have the upper hand, but there must be confirmation at the back of increasing volumes for this preview to stand. Resistance level to watch: $1.1000 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Prices Volatile, Bears Can Take Over Below $1.0800Past Performance Euro recovered on Friday, but this formation doesn't swing price action to favor buyers. For now, sellers have the upper hand since prices are oscillating inside the June 23 bear candlestick. Besides, trading volumes are light, casting doubts on the strength of the uptrend. #EURUSD Technical Analysis Buyers are confident. Whether this will continue in the days ahead is if Euro bulls will press higher above $1.1000 in the days ahead. The primary support is $1.0840, marking June 23 low. However, on the lower end, bears can target $1.0800. Considering the current formation, sellers may find entries to short now that prices are inside the June 23 trade range. Any break above $1.1000 cancels this preview, with losses below $1.0800 and June 15 cementing the bearish forecast. What to Expect? The bears have the upper hand in the current formation. Even though gains of June 15, the anchor bar, have yet to be wholly reversed, the rejection of higher prices last week points to weakness. Therefore, conservative traders can wait for a clean break below $1.0800 or $1.1000 before loading in the emerging direction. Resistance level to watch: $1.1000 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Euro Dumps, Retraces from June Highs as Bears Target $1.0800Past Performance From the daily chart, bears are in control, and Euro prices have crumbled below crucial support levels. With prices below $1.0900, the short-term trend is firmly bearish, and sellers can add their shorts, targeting $1.0800 in alignment with the June 23 bear bar. #EURUSD Technical Analysis The wide-ranging, high-volume bar of June 29 invalidated the uptrend of June 27, paving the way for sellers to ride the emerging trend. As it is, every high below $1.0900 may allow traders to unload the Euro while targeting $1.0800 in the short term. This target flashes with the lows of June 15, the conspicuous bar that anchors the current uptrend. Should sellers press on, reversing losses, Euro could crash to $1.0650, or June lows, in a trend confirming sellers of May. What to Expect? Overall, traders are confident, but there could be more losses if today's prices edge lower. In that case, the pullback in the first three weeks of June could be a retracement in a predominantly bearish trend of May, allowing conservative long-time frame traders to add to their shorts. For now, traders should watch whether the June 15 low will be retested. 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
1
#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 Bulls Revival, EUR Rejects $1.0770 As Buyers Double DownPast Performance The Euro is higher when writing, looking at the performance in the chart. With dropping inflation in the US, bulls got the impetus to double down, driving the Euro above $1.0770. The recovery is a welcomed development for the Euro following weeks of lower lows. Since the June 13 bar had high volumes, bulls may build on from there, ramping up on dips, targeting $1.0850 in the days ahead. #EURUSD Technical Analysis The June 8 bar anchors the current formation. The bar had high volumes and was wide-ranging, signaling the end of the bear run that dominated May. As it is, every attempt lower above $1.0770 may offer entries for buyers to load up, targeting $1.0850, the immediate resistance level. Notice a sharp response yesterday after the lull on June 11. This resurgence is a confidence boost for optimistic buyers targeting even more recovery in the upcoming session. Any dump below $1.0700 will nullify this bullish outlook. What to Expect? Traders are upbeat, and the uptrend, at least in the short-term, in alignment with the June 8 bull bar, is valid at spot rates. With every retracement from June 13 highs, traders might find entries to ride the developing uptrend. Resistance level to watch: $1.0850 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 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 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