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Eurusdidea

EUR/USDThe Euro fell quite firmly last week to reach a new 5-year low against the US Dollar. The low of the week was only a few pips higher than the 19-year low. European currencies are generally weak, and the Euro is of course the major European currency. We see a bit of a lower wick in the weekly candlestick, and of course there is likely to be support kicking in if the price reaches the 6-year low at about $1.0335. With a still-strong US Dollar, the price here looks likely to fall further over the coming days. However, bears will ideally want to see a down day on Monday, with a New York close below $1.0378 before entering a new short trade. I will be prepared to enter a new short trade if we get a daily (New York) close below $1.0378.
Short
by SmoothJB
EURUSD_D1 looking Bullish Divergence Consolidation zone breakoutEURUSD_D1 Consolidation zone breakout but the RSI looking Bullish Divergence, if this breakout is false breakout we see bulls rally. So let see tomorrow D1 candle if Tommorrow D1 candle is going up and retest the consolidation zone and next week bulls contineu so the consolidation zone breakout is false, if retest and contineu falling eurusd next will be 0.8 area. Traders Share your opinion in comments, Like and Follow me. Thank You...
Long
by amzadlak
EurUsd- Do we have a genuine break?In my yesterday's EurUsd commentary I said that I work with two bearish scenarios: 1. A retest of 1.08 and fall after 2. A direct break under support without a test At this moment, after almost 2 weeks of consolidation in a rectangle, EurUsd is trading under 1.05 important support. Considering the time of consolidation and the incapacity of the pair to pass above 1.0650 I believe this is a genuine break. My long-term target, as you know, is the 0.85-0.90 zone, as for the short term, 1.03 can be a good price for bears. As long as the price is under 1.0650 sell rallies can be a good strategy with the focus on a good R: R rate.
Short
by Mihai_Iacob
4
Jamie Trade Idea - Short EURUSDTrade Idea: EURUSD Sell Reasoning: Breaking out of consolidation to the downside Entry Level: 1.0456 Take Profit Level: 1.0348 Stop Loss: 1.0506 Risk/Reward: 2.16R Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
EurUsd and my two bearish scenariosAs you know, I'm very bullish Usd and especially bearish EurUsd... Looking at a longer TF we can see that since 1.6 top in 2008, EurUsd was trading down and although there are large swings, the direction remains. In the past 5 years, EurUsd has entered a range mode with a low boundary at 1.05 and a high one at 1.25. However, considering the fundamental factors, this range is very probable to be broken to the downside and EurUsd to dive hard under parity. As the title says, I have 2 bearish scenarios for this outcome: 1. A rebound from 10.5 support towards 1.08 now strong resistance and break down after 2. A direct break that can lead to an acceleration Regardless of which one, I will remain strongly bearish under 1.10 on the single currency
Short
by Mihai_Iacob
EURUSDThe euro went back and forth last week as the 1.05 level continues to offer support. That being said, the market looks as if it is going to continue to be very noisy, and will pay close attention to that 1.05 level. The 1.05 level is an area where we have seen a lot of support underneath, and therefore I think we are looking at a situation where the market breaking down below there could kick off more selling, but I believe it will more likely than not be difficult to break through. The most likely scenario is a short-term rally that will sell off the closer we get to the 1.08 level.
Short
by SmoothJB
1
EURUSDThe Euro has fallen hard during the trading session on Thursday to threaten the 1.05 level. The 1.05 level of course is a large, round, psychologically significant figure, and an area that has been important multiple times. Because of this, it is not overly surprising that we stall in this area. If we rally from here, it is likely that we will continue to see plenty of pressure. The 1.08 level above is a significant barrier, and the 50 Day EMA seems to be racing towards it, which is yet another reason to think that the market will find plenty of sellers. On a breakdown below the 1.05 level, then we are more likely than not will try to get down to the 1.04 level. The 1.03 level underneath is the bottom of the overall consolidation that we had seen previously, and therefore it is likely that we continue to be influenced by the previous action. Ultimately, I do think that we can get down to the 1.03 level, but it is going to be very choppy, and not very easy. As far as buying the Euro is concerned, we would need to see a massive shift in attitude, and perhaps a break above the 50 Day EMA. Furthermore, the 1.0933 level is an area where we have seen a lot of selling pressure as well. If we can clear all of that, the market is likely to turn around and go much higher. That would obviously take a major shift in attitude from the Federal Reserve and of course the European Central Bank as well. The market will continue to see a lot of volatility, and quite frankly I think that is going to be the norm in almost all currency pairs. The interest rate differential between the United States and Germany still dictates that we need to go lower, and of course rallies at this point should be thought of as value for the US dollar. Getting a little bit of a bounce should be thought of as a nice opportunity, but you should also keep in mind that the pair very rarely moves in one direction for very long, so it is going to be difficult to trade this directly off of the daily chart. However, I will not hesitate to use the one hour chart.
Short
by SmoothJB
EurUsd can drop to 0.85-0.90 zone (long term outlook)Even I, who have been trading for 20y I'm used to a stronger Eur than Usd, so this outlook may seem fantastic, but in my opinion, both fundamentals and technicals are sustaining a drop under parity for EurUsd. Looking at the monthly posted chart we can clearly see that since the 2008 crisis, EurUsd is in a downtrend and the only deviation from this trend was the 2020 break of the trend line that stopped in horizontal support and proved to be a false one in the end with the pair getting back under. Indeed, at this moment, EurUsd is trading in a very strong technical support, but if we look closer at price evolution we can see that every little rally is sold (see yesterday's attempt of correction). That being said, in the long run, I expect a drop under parity, and a 0.85 price is really not out of the question, on the contrary, is very probable at this moment.
Short
by Mihai_Iacob
12
EURUSDThe euro initially gapped higher to kick off the Monday session but has given back all of the gains to slam into the 1.05 level again. The 1.05 level is an area that should continue to attract a lot of attention because it is a large, round, psychologically significant figure, and the fact that it is an area where we have seen support and resistance in the past. At this point, the euro is struggling due to a massive amount of problems in the European Union. The first thing would be that we could be looking at a serious lack of energy. That would destroy the European economy, and that could cause a significant amount of downward pressure on growth. The size of the candlestick is not necessarily crucial or impressive, but it does suggest that we still have quite a bit of negative pressure. Ultimately, I think that rallies will continue to be sold into as there seems to be no real hope of that situation sorting itself out. The market rallying will offer a nice opportunity to pick up “cheap US dollars” at the first signs of exhaustion in this market. Ultimately, the market is in a very negative downtrend, and I do not think that is going to change anytime soon. That being said, you should keep in mind that the area below is going to be difficult to chew through, but as long as the Federal Reserve continues to be hawkish, it is difficult to bet against the US dollar. Furthermore, we have a Federal Reserve meeting coming out that people will be looking for a 50 bps rate hike at the least, and some are even starting to price in 75 bps. If the statement suggests that they are “on autopilot” to add 50 bps every meeting, that is going to continue to drive money into the greenback. Economic numbers out of the European Union are very weak at the moment, and they do not look like they are improving. With all of that being said and the complete lack of risk appetite out there, I just do not see how this pair will change anything anytime soon. I like the idea of fading rallies as it gives a bit of value to what is the strongest currency right now.
Short
by SmoothJB