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Eurusdsignal

A very important resistance for EurUsdTwo days ago I've written that EurUsd could be ready to reverse to the upside, but for confirmation, we need a break of 1.0750 zone resistance. The pair took a dive under 1.07 at first, but this proved to be a false break and now is trading again in this important level o resistance. The recent rally from around 1.0630 is very strong and indicates a bottom is probably in place and more gains could follow. 1.07 zone is again support so, in my opinion, dips towards this level should be bought. 1.0850 is the first resistance and could be the target for buy trades.
Long
by Mihai_Iacob
32
A key reversal on EUR/USD just formed at a major support clusterA bullish engulfing candle has formed on the EUR/USD daily chart, which could carry some weight given the technical levels of support it sits upon. Despite an intraday break below 1.0700, the market rebounded and closed back above this big round number. The 200-day EMA also provided support following an intraday false break beneath it, and it is worth mentioning that the 200-day EMA provided support on three occasions between the end of February and beginning of March before a strong rally formed. The RSI (14) dipped to its lowest level since September 2022. Whilst it is not within the classic oversold level of 30, it now sits at a similar level to the RSI low in February which preceded the March Rally. Furthermore, yesterday’s low held above the March VPOC (volume point of control), which is the most traded level by volume (or ticks, in the case of spot forex). Whilst many would prefer real ‘exchange’ volume, I regularly use the ICE feed as it is an amalgamation of FX feeds and their respective liquidity providers, and I generally find their tick volumes to be quite reliable. And finally, the decline form the May high has been in a relatively straight line which almost begs for correction higher. So it appears we are at or very near to an inflection point on EUR/USD, and a move to 1.0800 seems achievable given the depth of its decline from the May high. Of course, incoming data is key so we will keep an eye on employment data for the US this week (ADP, JOLTS, layoffs, jobless claims) and to see if the jobs market shows further signs of softening ahead of Friday's NFP report, as that could reduce bets of a June Fed hike and support EUR/USD.
Long
by CityIndex
EURUSD ____ INCOMING BEARISH MOVEHello guys, If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on EURUSD. As you may see on my chart, I expect the price to run into the daily FVG as marked on the chart before the continuation of the bearish move from last week. You will also notice that we have buy-side liquidity just below the daily FVG which will draw price to it. If you like this, check out my profile for more. DXY ANALYSIS Cheers, David
Short
by jabariofafrica