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Eurusddaily

EURUSD, Big Bearish move or a breakoutHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The EUR/USD struggles to maintain the uptrend after posting gains in the last three sessions, including the rebound from last week’s new 2021 lows in the 1.1660 regions. The EURUSD pair had a small Bullish movement in the last couple of days where we see the price going up from 1.6692 and hitting 1.17663 yesterday, Today started with a Bearish candle But notice that the main trend right now is Bearish, and a pattern of lower highs and lower lows has formed and that would be the reason for the Market to drop in the next week. Looking at the chart we can see 2 different Scenarios for the market movement in the next week: Scenario 1 : in the last 3 weeks, the market seems to be having a pattern of lower highs and lower lows, A big possibility that it will repeat itself this week as well, with a target of 1.16290. But before reaching that the price will be headed near the first support line at 1.1730 and after breaking out it will keep dropping down reaching the support at 1.1691 where Bulls will try to control the market and if they fail then the market will hit the target. Scenario 2 : The market is trading at 1.17460 if the Bulls were able to take control from the Bears then we will see the market push near the first resistance level at 1.1770, At that level, a big battle will happen between the Bears and Bulls and the outcome will play a big roll in the market movement in the next period of time, if the Bulls were able to win it means a Breakout is about to happen in this Bearish trend. Technical indicators show : 1) The market is below the 20 50 100 200 MA and EMA, But still above the 5 10 Averages, which could indicate a small Bullish move but the current trend is still Bearish. 2) The MACD is below the 0 line showing that the market is in a Bearish state, With a positive crossover happening today between the MACD line and the Signal line. 3) The ADX is at 22.70 showing that the market is trending, With a negative crossover between DI+ and DI-. Support & Resistance points : support Resistance 1) 1.1730 1) 1.1770 2) 1.1709 2) 1.1787 3) 1.1691 3) 1.1809 Fundamental point of view : This week's risk rally looks to be fading as we close in on the Jackson Hole event. EUR/USD is trading below 1.1750, off the highs and ahead of the German IFO Business Climate release. A moderate decrease is on the cards but the pair should stay above the 1.17 level, according to economists at ING. The focus will be on the German August IFO. German manufacturers continue to struggle with supply chain challenges and the IFO expectations component is expected to correct to 100 from 101.2. Any larger than expected drop here could marginally weigh on EUR/USD, though 1.1700 support should hold in quiet markets. According to fxstreet Upcoming Fundamental news that would affect the market: {USD} Jackson Hole Symposium, Durable Goods Orders(Jul), Gross Domestic Product Annualized(Q2) PREL, This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts and news for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading
Short
by GabiDahduh
EURUSD: HOW TO ENTRY ANOTHER POSITION (EDUCATION)Dollar Index looks growh up soon. You can watch dollar index (DXY) as guidance for this pair. You must patient for safe trade. Wait until the price breakout the support line (grey on chart). After retest thats the best entry position. Place the stoploss above the suport. (Maybe 30-40 pips, depend on you) Remember if price has broke, Support become the resistance. Note: This chart for educational only. If you are Professional trader, skip this post. If you have any further questions or need more clean chart, feel free to message me. Don't forget comment & Like this post Thank you
Short
by Sovi_Madnes
2
EURUSD| LIQUIDITY SQUEEZE AND BULL RUN Afternoon Traders, I've illustrated and highlighted 1 likely scenario given the state of the Dollar and relative strength from the EURO, this chart clearly illustrates a bullish movement as we pushed above the 1.2000 level this being a KL, the pattern is suggests a continuation of the overall trend at a test the 1.2000 level as is it lines up with the 79 - 88% range on the Fibonacci. full transparency this will be my area for a potential entry dependent of course if price plays out as I have illustrated here, but of course I will adapt was new information comes out.
Long
by NK008
2
EURUSD Ready for big next move?In the monthly chart, we can see the market made an impulse and correction. But the correction was weak and didn't even reach 0.382 fibo retracement. Also if this monthly chart closes above the previous monthly resistance we will likely see a higher high. In the weekly chart, What we can see is a big accumulation. Here retail traders closed their long positions. So, we saw on COT data long's being closed. Also, the previous week has closed above the resistance level. And in the daily chart, We can see the market breaking the 1.19000 resistance level and creating a higher high. So, overall we have a bullish outlook on EURUSD from all timeframe. To enter this trade we have to see the market making a retracement in the daily chart. If the market retraces to 1.19000 from there we can take a long on EURUSD.
Long
by rafi_trader21