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Eurousd

EURO/USD Technical AnalysisEuro still very weak against the USD, price tired to push a little bit to the upside but couldn't even reach the 0.5 fibo retracement (1.1715) level, I believe the selling pressure will continue to push the prices down. Recently price has created a double top at 1.19 and broke the neckline and the range of this double top pattern has a similar target with the fibo extension level -0.27 which is 1.1420 area which might act as support for a period of time before price sells off more.
Short
by alicanuz
U.S. GDP and ECB Meeting Will Finalise the October Stock Market The last week of October would contribute significantly to the picture of the global markets. So far we may say that fears felt at the beginning of October never came true. Quite the opposite, the Dow Jones index finished last week on new all-time highs at 35764.71 and S&P 500 broad market index which set its all-time highs at 4559.67 points. However, there is plenty to think about as we received divergences to the August highs in the weekly timeframe charts. Divergences are clearly seen on the MACD indicator. And this is quite in line with a possible threat of the decline in the U.S. stock market. So, what could be the reasons this week for such a possible decline, or is there nothing to be afraid of?I would highlight two possible reasons for this. The U.S. Q3 GDP data and the outcome of the European Central bank’s (ECB) meeting, which will both be released this Thursday, October 28. U.S. GDP is expected to slow down to 2.8% from the previous 6.7% for the Q2. Even the U.S. economy may recover in the Q4 and weak data may cause some correction in the market. As for ECB, during its last meeting in September it postponed the decision on bond-buying programs for December. However, recent inflation data that jumped to 3.4% in September, or to the 13-year record, promoted by high energy prices, was reminiscent of the Global financial crisis in 2008. We should not exclude the possibility that the ECB may make some comments on this towards changes in its monetary policy. EURUSD is on the upward move that started October 12. The support line of this fresh trend is at 1.1620. While the single European currency price is above this line and chances are that its strengthening will prevail. The nearest target for this is at 1.1686-1.1736. More long-term targets are located within 1.1800-1.1830.
by scavoanastasiia
1
$EURUSD - Completion of the correctionHi guys! 👋🏻 🔔 EUR/USD is traded inside a downtrend channel. The price action of June 25 has formed an expanding ending diagonal pattern, which is yet to complete its formation. 🔔 4H EUR/USD chart, whereas the RSI is near the oversold level, hence to balance the strength, EUR/USD might retest 1.17700 before it continues to proceed downwards to complete the correction. 🔔 Key support levels to watch herein are $1.16150, $1.15000 and an area between $1.14500 and $1.14200. It is important to note that MA100, MA200 and EMA50 are all above the priceline and act as a strong resistance, most importantly the EMA50 is right at $1.17700 which backs the strength of this resistance. 🔔 Last week, the EU and German economic data were mainly red colored as the actual data released was not the same or above the anticipated. This fact weakens the Euro before the US Dollar, as these data clearly state that the ECB economic projections are inaccurate. Last week’s EU and German PMI data were below the anticipated. 🔔 It is pretty much clear that the end of the correction is not yet confirmed and for the Euro to continue the uptrend the economic data from the EU has to follow the projections of the ECB and EUR/USD must close above the upper edge of the downtrend channel. Until then, EUR/USD is bearish. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Short
by azizelliott
Eurusd starting of bullish momentum At the moment the Euro is pulling back from a strong support , if it does pullback from strong support that means if could go for longer position than the previous highest one which is 1.19. Our main target for short position was 1.166 however the price is consolidating before the major support and also trying to make a double bottom. Fundamental could trigger the price to hit 1.166 but chances are quite slim. As long price stays above 1.705 resistance then it'll most likely test 1.75... If the price do make a bullish momentum it'll most likely break 1.19 since we already have double tops also at 1.19.. Both rsi and macd showing complete oversold... my last analysis
Long
by baigxy
Global events - the last 18 Months. I recently posted a timeline of Bitcoin events as well as record several videos on the current Elliott Wave moves around Bitcoin, DXY and a few Forex pairs. Here’s a link to the Bitcoin timeline; Looking back at the last 18 months or so now, I wanted to cover some of the significant events that have taken place, which would have had some (but not as much as you think) of an effect on the Elliott counts as a whole. For those of you not familiar with Elliott, there is a link in the ‘related ideas’ section covering the basics. So, let’s go back in time; Brexit announced back in 2016 – carried through and completed in 2020. Thus, kicking off the year with a fair size event, the global markets not quite sure what the fall out would be, where the damage would come and of course if there where to be profitable positions to obtain. An awful lot of hesitation & fear seen in the market. Jump forward to the next big event; although COVID-19 was technically pre 2020, the real effects did not start to emerge until early 2020 when the world went into LOCKDOWNS, crazy mayhem soon followed and has not really disappeared since. After the world starts to go mad! A few other things happen during this period! - Oil goes negative for the first time in HISTORY - Gold hits $2,000 - S&P creates an all-time high If this was not enough to cause global confusion, we also had an interesting period in the United States. All though there are plenty of other events that have shaped this last 18 months or so, you can clearly see with so much – the charts will be a little more sporadic, a little harder to read. So, although methods such as Elliott and Wyckoff are still very powerful. Even Wyckoff Schematics got a good run in the social media platforms! (Probably kicked that off in March) 😉 Interesting times ahead - @TradingView community, take care of yourself and keep in mind! It’s been a crazy 18-months, 2 years! **(This is not a trade idea, even a bias - it's just highlighting how insane these last 18-months have been) For education on Wyckoff and Elliott - see my bio below; Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
TVC:DXYEducation
by Mayfair_Ventures
EURO/USD LONG TERM BEARISH OUTLOOK Jumping back in to currencies trading looking for some nice LT Trade opportunities to set and forget. Stumbled across the EUR/USD Pair - Looking over bought on the RSI - Multiple rejections on Multiple time frames- Analysis explained on chart as to why I'm in this position I Placed my Short order @ 1.22175 - An nice heavy dump followed placement which put me in the green. Price since came back but struggled to even hit my entry for a rests but failed. So far so good am THIS IS NOT FINANCIAL ADVICE AND I AM NOT A FINANCIAL ADVISOR- DO YOUROWN RESEARCH AND MAKE YOUR OWNTRADE DECISIONS- Look at the longer time frames identify tops and bottoms for best possible trade opportunities. Place your order hold your nerve
Short
by TMR-Trading