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EurUsd -> Reversal CompletedHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that EurUsd just recently perfectly retested and is now rejecting a quite strong bullish trendline exactly at the $1.07 level. You can also see that weekly market structure and moving averages are bullish, EurUsd also just once again retested support at the $1.065 level so from a weekly perspective I simply do expect more continuation towards the upside from here. On the daily timeframe you can see that last week's analysis which is linked below perfectly played out and I am now just waiting for a retest of the neckline of the double bottom at the $1.077 level before I then do expect another impulse towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
27
Ellison EUR/USD Morning analysis 14/06With the news today, I'm expecting EUR/USD to be indecisive but continue its bullishness until the news. Right now we are still holding pullback structure on the higher timeframe and even though price was choppy yesterday we still saw buyers printing intraday highs. I would be looking for buys at the same price sensitivity areas at a pullback of 1.076 or above 1.079. But then I would anticipate resistance at the liquidity zone above towards the end of the day as it may just be price set ups for the FOMC news later in the day. Fundamental analysis SHORT VERSION: - Markets have been expecting a skip/pause on rate hikes for June meeting - Unchanged rates will not hold much weight as it has already been priced into market - Main focus of this FOMC is if there is a surprise rate hike or a strong sentiment in Powell's speech afterwards. LONGER VERSION: I wrote yesterday about the weight US rate decisions have been having on the markets ever since the pandemic. What we have been seeing over the last 3-6 months is a lot of the rate hike cycles being priced into the market and also a lot of speculation about when rate hike cuts will come back into the scene. The main expectation for today is for the FED to pause or skip the month of June, leaving interest rates unchanged. This has already been priced in and won't lead to a move if it happens. This means we may see more of a buy the rumour and sell the news type play on Dollar and see a reaction to a surprise rate hike or rate cut (with a cut being highly unlikely). More importantly, I'm going to listen to the sentiment of Powell's statement he releases afterwards.
Long
by EllisonCapital
Ellison EUR/USD Morning analysis 12/06Continuing on from last week I am maintaining the forecast of buys from 1.076 and 1.079, expecting the temporary pullback phase on EU to continue a little higher. With sells expected at 1.084 or below 1.07. The theme of last week was watching Dollar start to show some exhaustion at key price sensitivity area of 104.5. On the higher timeframe, the DXY is on a more bullish bias, but secondary phase pullbacks/corrections are not out of the ordinary. We already had a very nice bullish rally on DXY from 101 price to break above a 30-day range and print higher highs on the intraday and extending 3.5% to 104.5. Last week US economic data was not as optimistic as expected, showing signs of a weakening US economy and feeling the pressure of a higher interest rate environment, coupled with macro inflation being elevated too. This all translates to a temporary pullback structure on the EUR/USD pair. Notable news this week: Tuesday - US CPI Wednesday - US PPI, FOMC interest rate decision Thursday - ECB interest rate decision, US jobless claims
Long
by EllisonCapital
EUR/USD Morning analysis 09/06US jobless claims data come out poor, the dollar gives us a pullback from a key price point at around 104.5 and has started to print a new intraday low in its pullback structure. This has correlated with the bad data, having EUR/USD close at the end of yesterday back above 1.076 and the dollar digging below the price sensitivity area at 103.4. No significant news for the remainder of the week. Looking for continuations of this dollar weakness sentiment. Buys at 1.076 or on a break above 1.079. Can't see any sells unless the price drops below 1.07.
Long
by EllisonCapital
1
EurUsd -> Initiating The ReversalHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that EurUsd is currently approaching a quite obvious previous weekly support area at the $1.065 level which is acting as support again. You can also see that weekly moving averages and market structure is still bullish, EurUsd is also retesting the lower support of a rising parallel channel so I simply do expect some consolidation at the current level and then a rejection away towards the upside. On the daily timeframe you can see that EurUsd is still creating bearish market structure but it seems like there is support at the $1.07 level so I am now just waiting for a break above the next resistance at $1.077 and then I do expect a rally towards the upside from there. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
56
EURUSD | STILL BULLISH FOR TODAYThe market went with yesterday's prediction as seen on the chart above. Today we have the Retail Sales Report releasing with a consensus that indicates that more goods have been sold in favour of the Euro In about 5hrs. I think that price will fall a little bit in respect to the 1hr 200 EMA and start to rise again to hit around 1.07450 before falling again. I'll still hold my position today and wait to see if euro might fall very later but for now, I support the pair.
Long
by Forex_Sentralytic
1