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
Eurusdbuy
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.
EURUSD | SET TO REACH 1.08000 THIS FRIDAYHello Traders, didn't post yesterday but trade went well as seen above so, pretty obvious outlook here 😂.
Price should fall briefly to the 15 mins 200 EMA and surge to around 1.08000.
The vice president of the EUROPEAN CENTRAL BANKS is set to speak in about 1 hr and 30 mins but I don't think it's something that hava a quick impact on the market today.
Let's hope for the best.
EUR/USD +160 Pips , New Entry Added After Daily Closure !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
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:
eurusd is good for buythere is a good supply zone for eur near here that can swing the trend.
⚠️ Notice:
I will enter one third of my position when price touch the box and the rest of it in the middle of the box. My TP would be R/R=3 and 5.
Please trade with your own money management methodology and be aware that trading has its own risks and rewards.
Good luck ❤️
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.
EURUSD | HIGHER PROBABILITY TO RISE TODAYPrice fell last Friday due to non-farm payroll results at noon to around 1.07000. Balance of Trade for Germany (Apr) is set to release in 30 mins and might push the price lower to the last order-block.
In 2hrs also, PMI is set to release with a consensus that is higher than 50. I expect the price to fall to around 1.06750 and rise to around 1.07400 before falling back again.
Let's hope for the best....
EUR/UD Free Entry Gave 2H Ago , +60 Pips Now , New Entry Added !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
EUR/USD Giving Amazing Bullish P.A On D And 4H T.F, Can We Buy ?This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
A key reversal on EUR/USD just formed at a major support clusterA bullish engulfing candle has formed on the EUR/USD daily chart, which could carry some weight given the technical levels of support it sits upon.
Despite an intraday break below 1.0700, the market rebounded and closed back above this big round number. The 200-day EMA also provided support following an intraday false break beneath it, and it is worth mentioning that the 200-day EMA provided support on three occasions between the end of February and beginning of March before a strong rally formed.
The RSI (14) dipped to its lowest level since September 2022. Whilst it is not within the classic oversold level of 30, it now sits at a similar level to the RSI low in February which preceded the March Rally.
Furthermore, yesterday’s low held above the March VPOC (volume point of control), which is the most traded level by volume (or ticks, in the case of spot forex). Whilst many would prefer real ‘exchange’ volume, I regularly use the ICE feed as it is an amalgamation of FX feeds and their respective liquidity providers, and I generally find their tick volumes to be quite reliable.
And finally, the decline form the May high has been in a relatively straight line which almost begs for correction higher.
So it appears we are at or very near to an inflection point on EUR/USD, and a move to 1.0800 seems achievable given the depth of its decline from the May high. Of course, incoming data is key so we will keep an eye on employment data for the US this week (ADP, JOLTS, layoffs, jobless claims) and to see if the jobs market shows further signs of softening ahead of Friday's NFP report, as that could reduce bets of a June Fed hike and support EUR/USD.