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Eurusdtechnicalanalysis

EURUSD Sell Trade Setup H1At the moment, EUR/USD is trading at 1.0898, which is a resistance area. If it gets rejected from this level, it could potentially move down towards the support area at 1.0846. You can take advantage of this by selling and aiming for a good profit. Set your stop loss at 1.0925 to manage your risk in case the trade goes against you. Disclaimer : Please note that the information provided is for educational purposes only and should not be considered as financial advice. Trade at your own risk.
Short
by ShaaniReal
EURUSD: Economic influence!According to The Guardian on June 8, gross domestic product (GDP) across the eurozone fell 0.1% in the first quarter of this year, worse than the previous forecast that the eurozone economy just stalled. Specifically, Eurozone GDP shrank by 0.1% in the fourth quarter of 2022, meaning that the eurozone economy shrank for two consecutive quarters. The definition of a recession is an economic contraction for two consecutive quarters. The GDP of the Eurozone fell due to being dragged down by Ireland. Ireland's GDP fell 4.6% in the first quarter of this year, although economists have questioned whether that really reflects the performance of the Irish economy. The Lithuanian economy shrank 2.1%, while the Dutch economy shrank 0.7%. Germany, Europe's largest economy, shrank 0.3% and also fell into recession. The European economy has been hit by economic disruptions amid the conflict in Ukraine, which has sent energy and food prices soaring. This situation has led to a series of rate hikes, as the European Central Bank (ECB) seeks to combat higher inflation. Diego Iscaro, Head of European Economics at S&P Global Market Intelligence, forecasts that as the impact of higher interest rates has yet to be fully felt, economic activity in the eurozone will be sluggish throughout. remainder of 2023.
Short
by Sphyn-Trader
EURUSD: Meetings of leaders?Last week, the US Federal Reserve led a meeting with senior central banks to discuss monetary policy. As expected, they decided to pause their year-long cycle of interest rate hikes in order to assess its impact on inflation and the country's economic outlook. The Fed also indicated that there might be a rate hike in the near future, considering that consumer prices are still more than double their target of 2%. However, they emphasized the importance of upcoming economic data to justify these potential moves. This week, the focus will be on economic data related to the US housing market, first-time jobless claims, and the current account. Additionally, there will be two days of national hearings where Powell will address both houses of Congress.
Long
by Sphyn-Trader
4
CUP AND HANDLE ( EURUSD) POSSIBLE BULLISH MOVEMENT (UPDATE)The target of this pattern is measured by the depth of the cup , by measuring we see that price might continue on this bullish run to 1.11690 which also happens to be an important resistance from which the markets made a rally to the downside back in 31 march 22. Fundamentals are also on the EURO side as Europe exchange rates were higher after the European Central Bank (ECB) raised interest rates by 25 basis points and gave no indication it was considering an end to the interest rate hiking cycle. one should look for possible retracements during the bullish rally to join bulls . MAY THE MARKETS BE WITH YOU
Long
by KILLCAD
EURUSD: Things you need to know!Fundamental analysis: The support and resistance zones are effectively fulfilling their role, as usual, by eliciting a response above the gold price line. The RSI indicator indicates that liquidity is slowly accumulating, which suggests a potential reversion to a downtrend. Market overview: The EUR/USD rose again, posting its highest daily close in a month above 1.0800, despite the US Dollar's recovery triggered by the hawkish hold from the FOMC. Attention now turns to the European Central Bank (ECB) meeting and upcoming US data, which could become more relevant given Fed Chair Powell's statement that the July meeting will be a 'live' meeting." The ECB will have its Governing Council meeting on Thursday. It is expected to hike interest rates by 25 basis points. The key for the Euro will be the language used in the statement and ECB President Lagarde’s comments during the press conference. Probably, she will repeat that they are not done raising rates. If the meeting turns out to be 'dovish', with signals of a potential pause, the Euro could suffer.
Short
by Sphyn-Trader
3
EURUSD: Tumultuous week!Overview of the market On Tuesday, the EUR/USD experienced a slight increase of fewer than 30 pips. However, this was enough to make it the Euro's best day in over a week. The pair's rebound was due to a decline in the US dollar against European currencies and the yen, after hitting two-month lows at 1.0670. In Spain, data indicated a decline of 0.2% in the Harmonized Index of Consumer Prices in May, causing an annual rate fall from 3.8% to 2.9%, which was larger than expected. Although this news was positive for the European Central Bank (ECB), it could have negative implications for the common currency. Inflation data from Germany and France is due on Wednesday, which could ease tightening expectations from the ECB if preliminary May estimates also show significant declines in their annual rates.
Short
by Sphyn-Trader
1
EurUsd- Bottom in place?Yesterday, EurUsd spiked under 1.07 and, after a low at 1.0674, the pair reversed and managed to break back above the falling trend line started at the beginning of the month (we also have a long tailed bullish engulfing on our daily chart). This spike and reversal could very well suggest a bottom in place and EurUsd could be ready for more gains. Confirmation for a bottom comes with the price above 1.0750-1.0760 zone resistance and, in such an instance bulls could expect more gains with 1.0850 as target and negation under yesterday's low.
Long
by Mihai_Iacob
2
EURUSD: Anticipating Non-farm!EUR/USD advances toward 1.0750 amid US debt deal optimism Fundamental technical analysis: The Relative Strength Index (RSI) continues to be present in the middle. The average price is still declining, with the 34 EMA and 89 EMA staying steady, creating a consistent downtrend over a period of time. Additionally, the flag pattern has begun to take shape. Market overview: On Friday, EUR/USD started to rise after a four-day decline that resulted in the pair reaching its lowest level in over two months near 1.0700. The near-term technical outlook does not yet show a bullish inclination in the short term, and the next directional move may be influenced by the Personal Consumption Expenditures (PCE) Price Index data from the US later in the day. The US Dollar (USD) was boosted on Thursday by positive macroeconomic data releases from the US, which revived expectations for one more Federal Reserve (Fed) rate increase in June. The US Bureau of Economic Analysis revised the first-quarter annualized Gross Domestic Product growth to 1.3% from 1.15 in the initial estimate, and the weekly Initial Jobless Claims came in below the market expectation of 245,000 at 229,000.
Short
by Sphyn-Trader
7
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