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Eurusdanalysis

#Euro Bulls Firm, Will Prices Rally Above 1.1100?Past Performance The uptrend remains, but USD bulls are rejecting attempts higher. From the daily chart, primary resistance lies at 1.1100, marking May 4 highs. The failure of prices to move higher last week supports bears. There must be a sharp dump below 1.0965 and the middle BB, or the 20-day moving average, for sellers to fully take control. #EURUSD Technical Analysis The uptrend remains, but there is a double top forming. With prices flat-lining at spot rates, diverging from the upper BB, there could be signs of dropping upside momentum. Still, EUR bulls have the upper hand, provided prices are above the middle BB and 1.0965. As it is, traders can wait for a confirmation of the May 4 bar. In that case, losses below 1.0965 with expanding volumes may see USD bulls drive prices back to 1.0865 in a bear trend continuation formation. Any rally above 1.1100 with the same rapidity cancels this bearish outlook. What to Expect? EURUSD is consolidating at spot rates after a superb performance by EUR bulls. Still, there must be a convincing breakout above the current range for trend definition. Any upswing will confirm buyers of March, cementing Euro bulls' dominance. Resistance level to watch: 1.1100 Support level to watch: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Contracts, USD Bulls Find Reprieve after 2 Month Bear RunPast Performance Euro prices are lower as USD bulls rejected attempts for higher highs. The immediate resistance lies at 1.1100, as a double top will likely print in the upcoming sessions. A notable development when prices rejected higher prices on May 4 was the rise in trading volumes. This may suggest that USD bulls are keen to participate, a move that could press the Euro further in the days ahead. #EURUSD Technical Analysis The rejection of higher highs on May 4 prints out at a critical resistance level. The 1.1100 resistance line flashes with April resistance. It is also within the same range as February peaks. While bearish, how prices move in the next few days depends on if USD bulls press on. Any breakout below the current range at 1.0960 may trigger a sell-off towards 1.0850 and 1.0750. These are critical Fibonacci retracement levels of the March to April 2023 trade range. What to Expect? USD bulls are confident, and the EUR Bull Run could be over. This depends on whether prices drop below the immediate support level today or in sessions ahead. Any upswing above 1.1100 will invalidate the bearish preview, allowing Euro bulls to continue with the upswing from early March. Resistance level to watch: 1.1100 Support level to watch: 1.0960 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Retesting Key Resistance Line, Double Top Forming?Past Performance Euro bulls have the upper hand, printing higher highs in the daily chart. Gains of May 3 were conspicuous but failed to break out above 1.1100. Still, the bulls have the upper hand despite the clear double-top forming. #EURUSD Technical Analysis The Fed raised rates but didn't push the Euro above the immediate resistance level. The May 3 bar closed with a long upper wick suggesting sell-off in the tail end. Moreover, trading volumes are lighter, hinting at weakness after a strong performance in the last five months. As prices consolidate and momentum drops, traders should watch out for how prices react at 1.1100 on the upper hand and 1.0965 on the lower end. For bears to take charge, a high volume bar must break below 1.0965, confirming the bearish engulfing bars of April 14 and 25. Conversely, a break above April highs may see the Euro extend gains, powering towards 1.12. What to Expect? Euro bulls are in control following a 5% gain since January. There is a possible double-top forming, and momentum is waning, questioning the strength of the upsides. In the days ahead, a comprehensive, wide-ranging breakout above immediate resistance will rejuvenate demand, further pumping the Euro. Resistance level to watch out for: $1.1100 Support level to watch out for: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
EURUSD 2H 28/04/203 Currently, in the two-hour timeframe, we are in an uptrend ranging from 1.09659 to 1.10670, with the latter being the liquidity point of the range. Depending on how the price moves within our potential demand areas, we could consider two zones from a non-mitigated price perspective, which are 1.09865 to 1.09338. The price is currently mitigating the first of these zones, so we could expect a bullish reaction to enter a possible trade or descend to lower timeframes to follow the operable ranges in favor of the trend.
Long
by mdr300896
EURUSD 4H 28/04/2023 Currently, in the 4-hour timeframe, we are in an uptrend range that extends from 1.08960 to 1.10758, with the latter being the current range liquidity point. Following the structure and the ranges that have been created, we can identify two areas of interest: 1.09171 and 1.08571. These are the zones in which we can search for reactions to position ourselves in the bullish movement or alternatively, we could descend to lower timeframes to follow the new bullish ranges that are forming in favor of the trend.
Long
by mdr300896
DeGRAM | EURUSD false break and new highEURUSD is pulling back following a false break at the resistance level. Price action is moving in a similar way as when the market tested the resistance two times, then on the third test it made a false break, pulled back, then made a new high. The market is near the confluence level. We expect a retest of support and trend continuation. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
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