Get started

Eurusddaily

EUR/USD slips on Catalan referendumMorning outlook - EUR/USD slips on Catalan referendum In line with expectations, the currency exchange rate managed to break to the top, crossing the 100-hour SMA plus another resistance level near 1.1810. During the two-day surge the pair even formed a little ascending channel. But due to referendum on independence in Catalonia the Euro lost 0.3% against the Dollar and fell out of the channel. The fact that now the pair is located below a combination of the 55- and 100-hour SMAs, suggests that might continue to the move to the bottom. The downfall might be additionally spurred by the official comments from the EU, Catalan and Spanish governments through the day. However, this event is unlikely to change the general scenario, according to which the rate is expected to continue to climb to the top after bouncing off from the 100% Fibo at 1.1715.
by UnknownUnicorn890690
The path to the true top of 2017 EURUSDFor 2017, EURUSD , has been on a steady climb and it is becoming apparent that a test of the 2016 high has been the mission all along. Even with the Brexit situation, change in admin in the U.S., a very dovish tone from Draghi (ECB), and the whole 9 yards this pair has been resilient in , and I do say so myself, the wrong direction. Not one person in the world can explain the rise in Euro against the Dollar if you laid out all the data and political facts to study. Nevertheless I will indulge you. We would only have to point at the change in admin in the U.S. as the elephant. They seem to not be able to accomplish what they set out to accomplish in a uncharted but charted way. First, Trump never laid out any details regarding the healthcare situation just screamed bloody murder and pointed fingers. So when "his" healthcare plan came to, it was removed/fell off the high horse and was trampled on by people who wouldn't sign or approve anything without knowing the ins and outs respectively. In the same breath I would see that as sign of strength as healthcare is a part of the fabric of the United States, courtesy of the Industrial Revolution via Unions and not to mention the Constitution, which should translate to USD strength after a reasonable pullback so let's add another angle. After the initial healthcare debacle the president made a statement relative to the situation and added that he would not just move on to taxes as his tax plan would work best only after healthcare law had been put in place. Now I AM NOT A POLITICIAN OR TAX ATTORNEY but that is weird considering the tax law wouldn't take immediate effect and even if it did you would probably be creating more jobs to deal with the transition and maintenance so why not go for it and swiftly swing back around on healthcare? Nonetheless, understandably, the market priced in the delay. That leads to the final point I care to type about which is the new admin vs the FED dynamic. Let me start by declaring nobody understands Yellen's thought process so you mix that with the president sending mixed signals relative to the head of the FED, on the final term year of the FED head, about the future of the FED head. It's hard to imagine the volatility not being removed from the market on any FED decision. With that sentiment lingering i.e. buy the rumor sell the news became sell the rumor buy the news. With all that said it is still mind bending to see, EURUSD , up 1000+ pips from the low of 2017. The DXY gets stronger and EURUSD goes in the wrong direction. Euro Bulls are looking for Greenback Bulls to take the reign so they can hibernate again. Where are the Dollar Bulls? #FFT
by WealthGod6
EURUSD : OVERWHELMED BY THIS SITUATION!Hi traders! Here we have one of the hottest trade that I had to draw of 2017. This is all kind of crazy! EURUSD is trying to get over that 1.20. It couldn't do it the first time but hasn't fallen much either after. This could indicate that buyers are still there support that idea. Now I had to look back in time to see that we had a order block on the weekly timeframe which is just above the current price. We also have a daily one that just created itself just below the price. To add to this awesome trade, we are stuck in a symmetrical wedge. But wait that's not enough because we have the FOMC news coming up this Wednesday to stir up everything in the forex market. This looks like it will break both ways before going hard.... in just one way. Which one is it though? Last time the Fed said anything, DXY got crushed. If they haven't changed their overall stand, we may have the same faith. Here is what I'm thinking : EURUSD BUY LIMIT : ENTRY : 1.19061 SL : 1.18344 TP 1 : 1.20946 TP 2 : 1.22019 Giving us the best chance of not getting wick-ed out of this trade. RR is nice also when trying to get an entry lower in that wedge. Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
1
EUR/USD begins new week near weekly PP at 1.1938Morning outlook - EUR/USD begins new week near weekly PP at 1.1938 Due to release of negative data on the US Core Retail Sales, the Euro caught an upside momentum, which lasted until the pair met a resistance in the 1.1985-95 area. At the moment, the currency rate is located near the updated weekly PP at 1.1938, being squeezed between the 200- and 100-hour SMAs. Accordingly, an aggregate of technical indicators sends either neutral or ordinary buy signal. This fact as well as the traditional Monday's inactivity suggests that the pair is unlikely to make major advances today . However, generally, the pair is expected to make attempt to break through the above resistance towards the new weekly R1 at 1.2039. On the other side, an average market sentiment remains 65% bearish, which means that in case of a new rebound bears might try to drag the rate down to the monthly PP at 1.1881.
by UnknownUnicorn890690
EURUSD : SECOND ROUNDS ON ME?Hi traders, The EURUSD took a dip when it went over 1.20. The thing is... it broke through so this means we will see that price again very soon. EURUSD is still within it's uptrend channel. DXY topped @ 92.00 during a nice bull run yesterday but has now retrace (may have been a top) I looked in a lower timeframe (4H) and it looks like we may have reached the end of this retracement down. Nothing is really sure at this level but it does look good. RR is always important and this looks like a nice one. EURUSD LONG : ENTRY : 1.19596 TP : 1.22700 SL : 1.18939 Trade safe!
Long
by ScottMescudiForex
2
EUR/USD slips to weekly PP at 1.1999Morning outlook - EUR/USD slips to weekly PP at 1.1999 On Friday, the currency exchange rate acted in accordance with one of the scenarios, which suggested that as soon as markets will calm down the buck is going to try restoring some lost positions. Indeed, after failing to jump above the monthly R1 at 1.2099 the pair switched a direction and ended the week near the combined support level set up by the 55-hour SMA and the updated weekly PP at 1.1999. It seems that the turnaround was partially attributed to clash with the upper boundary of a medium-term rising wedge, which can be clearly seen on a daily timeframe. From this larger perspective the rate is expected to continue to gradually slip to the bottom. However, in the short run these attempts most likely will be neutralized by the 100- and 200-hour SMAs.
by UnknownUnicorn890690
EUR/USD under pressure from moving averagesMorning outlook - EUR/USD under pressure from moving averages By the end of the previous trading day the currency pair had expectedly made a breakout from a short-term symmetrical triangle. The only difference from similar cases was that it did not choose a clear direction but, instead, continued to move horizontally. However, today this flat movement is expected to end, as the rate is experiencing pressure from a combination of the 55-, 100- and 200-hours SMAs, which are located slightly below it. Once the pair will manage to break through the weekly PP at 1.1918, it will have a barrier-free area up until the weekly R1 at 1.2013. The eventual surge is expected to happen despite that 65% of open positions are short.
by UnknownUnicorn890690
EUR/USD prepares for Draghi and Yellen speechesMorning outlook - EUR/USD prepares for Draghi and Yellen speeches An hourly chart reveals that the Euro is moving against the American Dollar in a short-term symmetrical triangle, as traders await both Mario Draghi and Janet Yellen speeches that will be delivered later this day at the Jackson Hole Symposium. From a technical perspective, a breakout to the northern direction seems more possible, as the currency pair experiences pressure from the 55- and 100-hour SMAs from the bottom. In addition, the upper area lacks any notable resistance barriers in the next 45-pip range. However, if the downfall happens, then in the worst case scenario it should be stopped by the 100% Fibonacci retracement level at 1.1714.
by UnknownUnicorn890690
Long EURUSD Longterm Based on Weekly + Monthly TimeframeFollowing a downtrend on the EURUSD , price has been ranging since January 2015 and formed a triple bottom, which has been validated by the recent break of the neckline. Ideal entry would have been at the close of the weekly candle above the neckline, however, with our long term goal of 1.214 we may still have the opportunity to jump in on this long trade. I believe fundamentals are in our favour of this position and multiple indicators show room for a good leg up on the monthly timeframe. I will be monitoring this pair on multiple time frames. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
Potential Short EURUSD Longterm Based on D1, W1 + M1 ChartsWith the recent EURUSD rally we have come back up to 1.13x and we are fast approaching a Major Resistance Zone. In fact, the last time price was able to breach and close above this resistance zone on the Weekly timeframe was the 29th of September 2003 !! Price has retested this zone multiple times and failed to keep above it. I will continue to monitor on multiple time frames. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786
EURUSD testing major resistance, remain bearishSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price continues to test our resistance as it shapes up nicely for a drop. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below the 95% level.
Short
by MEX_Exchange
EURUSD testing major resistance, remain bearishSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below the 95% level.
Short
by MEX_Exchange
EURUSD dropping perfectly, remain bearishSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price has reached our selling area and reversed perfectly as expected. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) has reversed nicely off our 95% resistance and has good downside potential.
Short
by MEX_Exchange
EURUSD approaching major resistance, prepare to sellSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price is approaching major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction off this level for a drop to 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing major resistance below the 95% level where we expect a huge drop from. Reason for the trading strategy (fundamentally): The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of an decrease which means a bearish USD is expected, this goes against our bearish EURUSD view hence it is best to exercise caution on this trade.
Short
by MEX_Exchange
EURUSD profit target reached, prepare to sellSell below 1.0948. Stop loss at 1.1002. Take profit at 1.0853. Reason for the trading strategy (technically): Price has bounced off our buying area perfectly and reached our profit target as expected. We prepare to sell below 1.0948 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down towards 1.0853 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below the 97% level where we expect a drop from. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they usually move in opposite directions. We’re expecting a rise in USDCHF which goes in line with the drop we expect on EURUSD.
Short
by theforexarmy