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Eurusddaily

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
EURUSD bouncing off major support, remain bullishBuy above 1.0853. Stop loss at 1.0787. Take profit at 1.0948. Reason for the trading strategy (technically): Price has started to bounce off our buying area perfectly. The plan today is to remain bullish above 1.0853 support (Fibonacci retracement, horizontal support) for a push up to 1.0948 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support above 2% where we expect a bounce from. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they usually move in opposite directions. We’re expecting a drop in USDCHF which goes in line with the rise we expect on EURUSD. Reason for the trading strategy (fundamentally): The main news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a positive value here meaning more consumer spending and confidence, leading to strength in the USD. This would go against our bullish EURUSD view today hence is it best to exercise caution on this trade.
Long
by theforexarmy
EURUSD remain bearish below strong resistanceSell below 1.0735. Stop loss at 1.0674. Take profit at 1.0776. Reason for the trading strategy (technically): Price has reacted off our selling area perfectly. We remain bearish below major resistance at 1.0735 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 1.0674 support (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing strong resistance below the 98% level where we expect a drop from. To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com They're very useful for forex scalping, day trading and swing trading opportunities.
Short
by theforexarmy
1
EURUSD profit target almost reached, prepare to turn bullishBuy above 1.0570. Stop loss at 1.0520. Take profit at 1.0704. Reason for the trading strategy (technically): Price has dropped nicely below our selling area last week and is fast approaching our profit target. We now look to play the bounce above 1.0570 support (Fibonacci extension, horizontal swing low support) for a push up to 1.0704 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is seeing strong support above the 7.4% level where we expect a bounce from.
Long
by theforexarmy
EURUSD Daily H&SThe EURUSD Head and Shoulders has been on Forex trend topics for long days. And the pattern is now formed and it's very clear and well designed. We just have to understand that the fact that the pattern could break higher the next few days doesn't mean that the EUR will have an easy life above 1.09 resistance zone, there is a lot of resistances up there. Actually the 1.09 is a major resistance zone and price could even go down again, so we have to be careful with the false break possibility. The market is chopped inside 1.05/1.15 areas since 2015 February, it's more than 2 years of consolidation (look at Weekly chart). Therefore, I'll be watching closely this nice H&S the next days, but even if we really break up I can see that we are having a difficult task to go until the top of weekly consolidation (1.1500 big number), a lot of volatility should be expected and that probably will stop out a lot of traders.
by doctrader
EURUSD Is Not Going To ParityTaking a look at the long term cycles you can see that the market took about fifteen years to create the wave from 1985 to 2000. Here we sit at the bottom of the subsequent cycle after that and you have everyone and their mother thinking that the euro 0.09% will go to parity. This has led me to thinking that the sheeple out there are drinking too much of the Kool-Aid and not doing their thinking. So lemme give a taste of contrarian thinking. It might be a little soon to suggest that we are at a major low, but that is how i'm playing it. As the analysis on this long term chart suggests, the market is due to put in a low that can last for the next seven years. Once this low is established then you will have everyone denying that it is in a strong position to move higher. With that being said this chart has me comfortable to lean on the long side from a position trading standpoint. The previous wave lasted fifteen years and the current wave is pushing the calendar to over seventeen years which means that the low is over due. Of course there will be those who don't want to read the writing on the wall. Cycles work suggests that the move to parity is overstated. You can also get a sense for this confirmation by looking at the other Euro 0.09% pairs. They are starting to put in major lows from a long term perspective as well.
Long
by Andy_Garcia_CMT_CFTe
3
EURUSD Head and Shoulders FormationTHE BIG PICTURE: This is the daily chart of EURUSD with the reverse head and shoulders pattern. At the moment of this publishing it is still premature to consider the formation complete. The anticipation is to have the market close above the neckline. If this occurs then it sets up for a higher likelihood that the Euro will start to trade toward the 1.1250 target zone. The time to trade it will be once the market can close above the neckline. THE TECHNICAL STANDPOINT: Once the market is able to close above the neckline then the trade can be triggered somewhere around the 1.08 level with a stop just beneath the right shoulder at about the 1.0480 level. The target based on the measurement of the tip of the head to the neckline measures about four hundred pips. With a risk of about 300 pips and a target of about 400 pips this sets up for a reward risk ratio of about 1.43 to 1
Long
by Andy_Garcia_CMT_CFTe
EURUSD profit target reached, time to turn bullishBuy above 1.0572. Stop loss at 1.0543. Take profit at 1.0630. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area yesterday and we close off our profitable bearish position because of the changing elements. We look to buy above 1.0572 support (Fibonacci retracement, horizontal overlap support) for a push up to 1.0630 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above the 6% level.
Long
by theforexarmy