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Eurusdanalysis

#Euro Sell-Off Continues, Bears Step Up Targeting $1.0500Past Performance The Euro is dumping hard. From the daily chart, sellers are stepping up their liquidation, forcing the coin. Although yesterday's losses could be climatic, the bar is wide-ranging and defines the upcoming EURUSD price action. As it is, not only can traders target $1.0730 but also set sight on $1.5000 in days ahead. #EURUSD Technical Analysis Sellers are in the driving seat, and USD bulls are unrelenting. This formation is as expected as aligned in the weekly chart where sellers are confirming last week's losses. Moreover, bear bars are riding the lower BB, which remains diverged from the 20-day moving average, indicating intense selling pressure and high volatility. At this pace, and if today ends up lower, USD bulls may look to sell even more as long as prices are below $1.0850—or May 18 highs. In this case, the immediate target will be March 2023 lows at $1.0500. What to Expect? Unless otherwise there is an unexpected expansion reversing yesterday's losses, the downtrend remains, and sellers can continue dumping on every attempt higher toward May 18 highs. The short-term target at $1.0730 could be tested earlier as swing traders expect more drawdowns in the upcoming session. Resistance level to watch: $1.0850 Support level to watch: $1.0500 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro is Selling Off; Will Prices Drop to March 2023 Lows?Past Performance The Euro remains under intense selling pressure and is in a bear formation. USD bulls seem to be getting started, looking at the rapidity of the recent sell-off. From the daily chart, the immediate resistance level is at $1.0940 as sellers press on, targeting $1.0730 and $1.0500. #EURUSD Technical Analysis The sell-off continues, and USD bulls appear unrelenting. With the sell bars banding along the lower BB, price action suggests that bears have the upper hand with increasing momentum. As such, there could be unloading opportunities in lower time frames, provided prices are trending below $1.0940. At this pace, the Euro may drop even below $1.0730, especially if prices easily slip below yesterday's lows at around $1.0810. What to Expect? Sellers are in the driving seat, and the Euro is being dumped. From the weekly chart, there appears to be more legroom for bears to press on. There is a three-bar formation with last week's bar bearish, swinging price action to favor aggressive sellers. Resistance level to watch: $1.0940 Support level to watch: $1.0810 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
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#Euro May Post More Losses, Upside Capped At $1.0940Past Performance The Euro remains under pressure and trickling lower. Sellers are unrelenting, looking at the performance in the daily chart. As it is, every attempt higher below $1.0940, marking May 12 highs, may offer entries for determined traders angling for even more drawdown toward $1.0730 in the coming sessions. #EURUSD Technical Analysis EURUSD is within a bearish formation following the double tops in early May. As it is, prices are moving lower, crashing below critical support levels as Euro prices recoil. Moreover, sell bars are riding the lower band, pointing to high selling pressure. This may allow sellers to search for liquidation entries in lower time frames. The neckline and an important support line traders should watch is $1.0730. If this level is lost, there is a high possibility of prices dropping further towards $1.0530 or March 2023 lows. What to Expect? Unless there is an unexpected expansion above May 12 highs with surging participation levels, USD bulls are squarely in control. Therefore, from an effort-versus-result perspective, sellers can continue looking for entries targeting $1.0730 in the near term. Resistance level to watch: $1.0940 Support level to watch: $1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Remains Bearish Despite Gains, Sell Trigger at 1.0840Past Performance Prices were in range by May 15 close. Even though Euro gained, prices are inside the May 12 bar, and sellers are in control. In the short term, the May 12 wide-ranging bear candlestick defines the immediate term. As such, key levels to watch would be 1.0940 and 1.0840. #EURUSD Technical Analysis In a bear breakout formation, Euro bulls have failed to push higher, reversing losses. Therefore, USD bulls are in control. As long as prices are below $1.0940, every attempt higher with lighter volumes may be an opportunity to dump, targeting 1.0840 and later 1.0730. Conversely, any confirmation of the May 12 bear bar, driving prices below last week's lows, will continue recent losses. If the breakout from the current thin consolidation is with rising volumes, prices could drop even further. However, if gains exceed May 12's highs with high participation, prices could rise to 1.1000. What to Expect? Prices are consolidating in lower time frames, and the immediate trend is undefined. The primary trend is bearish, and USD bulls are in control despite yesterday's rejection of sellers. If anything, the upper limit remains at 1.0940 and 1.1000, respectively. Resistance level to watch: 1.0940 Support level to watch: 1.0840 [ b]Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Dropping, USD Bulls Targeting 1.0860 in a BreakoutPast Performance Euro bulls are losing momentum, allowing USD bulls to double down. As it is, EURUSD is within a bearish formation with primary resistance at $1.1100. With prices below the middle BB and 1.0965 broken, sellers can look for entries with targets at 1.0860 and 1.0730 being immediate and medium-term targets. #EURUSD Technical Analysis After sharp gains from March through April, prices are cooling off in a welcomed retracement. There is a double top following rejections of bulls early this month. Since prices are below the middle BB and 1.0965, breaking out below the range, traders can search for unloading opportunities. Tight resistance remains at 1.0965, but ideally, resistance remains at 1.1100. Short targets will be at 1.0860 and 1.0730, key reaction points of the Fibonacci retracement levels of the March to April trade range. What to Expect? USD bulls will likely press on, reading from the current sharp losses in the European session. Prices are dropping as USD bulls have broken below yesterday's lower range. As such, the bearish preview stands as long as prices are below the middle BB and $1.1100 Resistance level to watch: 1.1100 Support level to watch: 1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Slips Below Trade Range in Distribution, Back to 1.0730?Past Performance The Euro uptrend could be over, reading from the price action in the daily chart. For the first time in roughly seven weeks, USD bulls pushed prices below the middle BB or the 20-day moving average. This follows the high volume rejection of higher prices on May 4 from around the 1.1100 primary resistance. #EURUSD Technical Analysis The breakout below the dynamic support is with light volumes, nearly half those posted on May 4 when a double bar bear pattern printed. With the Euro reversing gains and prices falling below the critical support at the middle BB and 1.0965, traders can look for entries. As it is, every attempt towards the recent trade range may offer entries for sellers targeting 1.0730. This preview will be null once the Euro rallies above 1.1100, with high participation levels preferably exceeding those of May 4. What to Expect? After weeks of higher highs, the upside momentum is fading, allowing USD bulls to take charge. Any confirmation of yesterday's losses could begin another leg down. The next support is 1.0730 marking the 61.8% Fibonacci level of the March to April trade range. Resistance level to watch out: 1.1100 Support level to watch out: 1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer