EURUSD : Will it continue to increase or decrease again ?EURUSD is currently in a correction phase following an extended period of decline. The pair has reached a support zone near 1.0789, sparking some potential for a rebound.
From a bullish perspective, we might see EURUSD target key levels at 1.091 and possibly even reach the resistance at 1.096.
However, for this upward correction to gain traction, the bulls will need stronger confirmation to truly revive an uptrend. Technical and market sentiment factors still favor the bears, with a reversal signal from the 34 EMA and a newly formed resistance level emerging from a previously broken support zone, as highlighted on the chart.
These are my brief thoughts on EURUSD for now. Do you share the same view?
Eurud
EURO - Price can break resistance level and then exit of pennantHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price entered to pennant, where it at once declined to support line and made upward impulse.
Price broke $1.1080 level and then made a retest and then continued to move up, but later made correction.
Next, EUR made upward impulse to $1.1180 level but then turned around and declined to support line of pennant.
Later it made upward impulse to resistance line of pennant but soon fell below $1.1180 resistance level.
But a not long time ago it rose to resistance line of pennant again and recently fell back and now it is trying to rise.
In my mind, EUR can little decline and then bounce up to $1.1225, breaking resistance level and exiting from pennant.
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TradePlus-Fx|EURUSD: change to sell💬 Description: The situation with the euro still forces us to take a closer look at sales. In the medium term, we are most likely to see a decline. Before this, one can take a closer look at long, but not above the level of 1.07000 . The most conservative thing to do is to place your take profits below this level. After which, as was said, a deep drop is expected from the promising update of local minimums. In a more global picture, you can take a closer look at the level of 1.05194 as a target.
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EURUSD 4H (Pivot Price: 1.06914)EURUSD
stabilizing above 1.07449 will support rising to touch 1.07756 then 1.08289 then 1.09075
stabilizing under 1.06914 will support falling to touch 1.06369 the 1.06036
Pivot Price: 1.06914
Resistance prices:1.07756 & 1.08289 &1.09075
Support prices: 1.06369 & 1.06036 & 1.05503
timeframe: 4H
EURUSD 4H (Pivot Price: 1.06914)EURUSD
stabilizing above 1.07449 will support rising to touch 1.07756 then 1.08289 then 1.09075
stabilizing under 1.06914 will support falling to touch 1.06369 the 1.06036
Pivot Price: 1.06914
Resistance prices:1.07756 & 1.08289 &1.09075
Support prices: 1.06369 & 1.06036 & 1.05503
timeframe: 4H
EUR/USD slips to 10-week low after soft German business climateThe euro has posted limited gains at the start of the trading week. In the North American session, EUR/USD is trading at 1.0803, up 0.08%.
The week ended on a sour note as German Ifo Business Climate fell for a fourth straight month in August to 85.7, down from an upwardly revised 87.4 and shy of the market consensus of 86.7. Germany's GDP flatlined in the second quarter, after two straight declines. The eurozone's largest economy is sputtering and a string of weak data provides support for the ECB to take a pause at the September meeting.
Federal Chair Jerome Powell delivered the keynote speech at the Jackson Hole summit on Friday and his message was one of caution and on the hawkish side. Powell reiterated that the battle to lower inflation to the 2% target "still has a long way to go". The Fed has lowered inflation to around 3% but the hardest part could be bringing it down to 2%.
With regard to rate policy, Powell was cautious, saying that the Fed would "proceed carefully" in deciding whether to raise rates or pause and wait for additional data. There was no mention of rate cuts, a signal that the Fed isn't looking to trim rates anytime soon. The markets raised the odds of a rate hike in September in response to the speech, from 14% a week ago to 21% at the time of writing.
ECB President Christine Lagarde also attended the Jackson Hole meeting but like Powell, played it safe with remarks that we've heard more than once in the past. Lagarde said that the ECB's rate path would be data-dependent at each meeting and that it was critical that inflation expectations remained anchored at the 2% target. Lagarde tried to sound optimistic, saying she was confident that inflation numbers would look different at the end of 2023.
Eurozone inflation is heading in the right direction but is still high at 5.3%. The central bank meets next on September 14th and it's unclear whether the ECB will raise rates for an eighth straight time or take a pause and monitor how the economy is performing. The benchmark rate is relatively low at 3.75%, but the eurozone economy has not looked good and higher rates increase the chances of the weak economy falling into recession.
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EUR/USD is putting pressure on resistance at 1.0831. The next resistance line is 1.0896
1.0795 is a weak support level. Below, there is support at 1.0731
Double top chart on EURUSD 2hr TFI see a double top chart pattern formation on the EURUSD 2hr TF. If price breaks the neckline, i will wait for a retest as confirmation or a strong bearish engulfing candle before i take this trade.
If price pulls back from this support, this could invalidate this trade as marked in the red arrow.
What's your opinion on this trade? like and comment below
Bears will eat it!are you agree?!
Daily Pivots: (S1) 1.5372;
(P) 1.5498;
(R1) 1.5567;
No change in EUR/AUD's outlook and intraday bias remains neutral. Another fall cannot be ruled out, but strong support could be seen from 38.2% retracement of 1.4281 to 1.5976 at 1.5329 to complete the correction from 1.5976.
DeGRAM | EURUSD breakout Yesterday, we predicted that EURUSD was preparing to breakout of the accumulation zone.
It finally went outside of the consolidation channel and moved to north.
We are expecting a classic "BPC" pattern. Breakout - Pullback - Continuation.
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EURUSD - LONG POSSIBILITYEurusd is forming an uptrend pattern technically talking, you can wait for a downtrend brekout to feel more secure about your trade position. make sure you confirm the news are in your favor before taking this trade and i'm responsible for nobody's loss, just here to share the knowledges that made me a profitable traders since the last couple months.