EURUSD Next Support!EUR-USD keeps falling
And the pair is somewhat
Oversold so I think that
After the retest of the
Level below we will see
A local rebound
Eurusdnews
EURUSDSeries of Lower High and Lower Lows ( Dow Theory)
This seems that this instrument will go further down.
Trade Plan as follows
Short Call
Entry Price/Sell Stop : 1.06105
Stop Loss : 1.08084
Target Price1 : 1.04118
Target Price2 : 1.02118
(Lot Size 0.05 on Account Size of 10,000 USD 1% risk)
German inflation data in focusToday we will be getting German Inflation data within the next 1h and 15m.
This German CPI will be in focus as Eurostat had problems in their systems the previous week and they gave an Estimation of Eurozone inflation along with estimating where possibly the German Inflation would land.
So at the back of this and while German's economy is 25% of EU's GDP , we are expecting some volatility to come in play , in case we get any big deviation in German Inflation data.
Now what the so wanted big deviation can be and what are we expecting at the back of this ?
German inflation printing higher than 9.5% and German Harmonised inflation printing higher than 10.3%
EURUSD - EURJPY 🔼
German inflation printing lower than 8.5% and German harmonised inflation printing lower than 9%
EURUSD - EURCAD 🔽
-Extra notes-
-Currently money markets are pricing in 41 bsp for the ECB meaning that we can go in any direction in case we get the deviation that we need and markets might price out 16 bsp (0.25% rate hike) or price in 9 bsp or more (0.50% rate hike).
-In case of higher inflation metrics possible targets can be EURUSD 1.0750 - 1.0775 - 1.0800 and EURJPY 141.50 - 141.80 - 142.20
-In case of lower inflation metrics possible targets can be EURUSD 1.0710 - 1.0690 - 1.0670 and EURCAD 1.4400 - 1.4380 - 1.4360
-Preferably we want to see MoM inflation metrics aligning to the one or to the other side and not get a mixed data out of it
-Higher conviction will come if headline inflation prints higher than 9.9% for the hawkish scenario or lower than 8% for the dovish scenario FX:EURUSD
EURUSD - Short from bearish orderblock ✅Hello traders!
‼️ This is my perspective on EURUSD .
Here we have pretty the same scenario as on Gold. I expect price to make a retracement and then to reject from bearish order block + institutional big figure 1.09000.
Like, comment and subscribe to be in touch with my content!
Eurusd sellUSD good new
Core Retail Sales m/m
12.4%
Retail Sales m/m
17.7%
will push eurusd for a short
EURUSD ! SHORT , LONG OR JUST WAIT ?EURUSD we can see we have many possibilities so dont sell right after the opening of the market just wait till we get a clear confirmation for a good entry , let me know what do you think in a comment
A Yearly Analysis Of Eur/UsdThis is not meant to be a signal or a trade idea! This is a long term analysis of Eur/Usd using a Weekly Time Frame With A Line Chart.
So as you can see, Price broke Support and Came back up recently to Retest WEEKLY SUPPORT NOW TURNED RESISTANCE.....
This gives me the idea that the EXTREME LONG term bias toward Eur/Usd will definately be down into the next major weekly resistance area.
I did draw some trend lines and tried to add all of the touches just to give traders an idea of why I put these lines on the chart.
I know that it may look messy but I think this chart can give us a beginning... in order to form our trade ideas over the next few weeks....
Using the Forecast Tool on tradingview, It would take around 1 Year before price would enter the next support zone.
EURUSD - Outlook Hello Traders,
Another good buying opportunity on EURUSD as the DXY slumps. It's a short term buy so if it fits your strategy, it is trade-able for short term and then we might get a good opportunity to sell from the top.
It's not a trade setup and i don't trade until i see if it fits my strategy.
Good luck!
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.
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.
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.
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.
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.
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.
EUR/USD - 50 Pips + Long OpportunityFX_IDC:EURUSD
As always, make your own analysis before investing.
If it breaks the resistence then we can expect it to go 50 pips up and stall there for a while and maybe eventually go even higher most probably or get into reversal.
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.
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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.
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.
EURUSD Weekly View : Profit target almost reached,remain bullishBuy above 1.0575. Stop loss at 1.0490. Take profit at 1.0680.
Reason for the trading strategy:
Price has shot up and is approaching our profit target. We look to buy on strength above 1.0575 support (Fibonacci retracement, horizontal pullback support, pullback support to descending support line) for a further push up to 1.0680 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (34) has made a bearish exit signalling a stronger change in momentum and also sees long term bullish divergence.
EURUSD testing major resistance, prepare to turn bearishSell below 1.0627. Stop loss at 1.0681. Take profit at 1.0545.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.0627 (major horizontal resistance, Fibonacci retracement) and we expect a drop from this level to at least 1.0545 support (Fibonacci retracement, horizontal pullback support).
RSI (34) is also seeing major resistance below the 65% and 61% area where we hope to see a corresponding drop from.
EURUSD testing major resistance, remain bearishSell below 1.0604. Stop loss at 1.0638. Take profit at 1.0494.
Reason for the trading strategy (technically):
We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support).
RSI (34) is seeing strong descending resistance pushing price down.
Stochastic (55,5,3) is also seeing strong resistance below our 93% level that is pushing price down and displays bearish divergence vs price which is a good precursor of price making a good reversal from here.
Reason for the trading strategy (fundamentally):
The major news item today affecting USD is the Gross Domestic Product (GBP) which measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health. If the actual release is better than the forecast, that means it is good for the currency and we can expect USD to strengthen. However, if the actual release is less than the forecast, that means it is bad for USD and we can expect USD to weaken. Our current forecast is for a rise from 1.9% to 2.1% which means we could expect a weaker USD, which goes in line with our bearish EURUSD view.
The other major news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a higher value which means a stronger USD, which goes in line with our bearish EURUSD trade today too.
EURUSD dropping perfectly, remain bearishSell below 1.0604. Stop loss at 1.0638. Take profit at 1.0494.
Reason for the trading strategy (technically):
Price is dropping nicely towards our profit target. We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support).
RSI (34) is seeing strong descending resistance pushing price down.
Stochastic (55,5,3) is also seeing strong resistance below our 93% level that is pushing price down.
Reason for the trading strategy (fundamentally):
The main news event today is the U.S. Durable Goods Orders. Durable goods are typically sensitive to economic changes. When consumers become sceptical about economic conditions, sales of durable goods are one of the first to be impacted since consumers can delay purchases of durable items, like cars and televisions, only spending money on necessities in times of economic hardship. Conversely, when consumer confidence is restored, orders for durable goods rebound quickly. The headline figure is expressed as a percentage change from previous months. A decrease in this value would mean a weaker USD. Forecasts for this month is expecting a significant rise from last month which means a stronger USD. This goes in line with our bearish EURUSD view.
EURUSD Profit target reached perfectly, time to start buyingBuy above 1.0500. Stop loss at 1.0430. Take profit at 1.0680.
Reason for the trading strategy:
Price dropped nicely and reached our profit target as expected. We now turn bullish above major support at 1.0500 (Fibonacci retracement, Fibonacci extension, horizontal support) for a push up to 1.6800 (Fibonacci retracement, horizontal swing high resistance).
RSI (34) is displaying bullish divergence versus price which signals a bullish bounce is fast approaching.
