Eurusdtechnicalanalysis
EUR/USD will be in bullishRespected followers, EURUSD on H4 chart is near to its trend line. When it will reject its trend line which is called support, EUR/USD will go to up. So better to look EUR/USD in bullish way.
EURUSD Selling Pressure NFP Week Ahead1.17200 Resistance worked well. This was the first target of the I SHS Pattern which we have published last week. This attempt appears to be a false breakout of the triangle in the midterm charts.
After the break below of the triangle, pair tested 1.15800. ( See attached idea )
We will have a quite "data busy" week. U.S. "Non-Farm Payrolls" and Unemployment Rates will be released on Friday.
Technically, the pair closed below EMA 50 and ended the week at 1.16000.
We might see a correction towards 1.16200 - 1.16570 region.
Shorter term bearish pressure will remain as long as the pair holds below 1.16570. If it breaks above 1.16570, 1.16880 and 1.17200 will be the next targets.
If the pair fails to break above 1.16570, 1.15700 and 1.15100 will be tested.
Longer Term Overview: Eurozone macroeconomic figures and fundamentals are not supporting the stronger Euro. The rise of the EURUSD might be used as selling opportunities only.
Intraday trade opportunities will be published for the members.
EURUSD Forecast: Trump overshades macroeconomic dataFundamentals:
EURUSD ended the week at 1.17200 under the shadow of the political jitters. Powell “lights the fire” by stating that “with a strong job market, inflation close to our objective, and the risks to the outlook roughly balanced, the FOMC believes that – for now – the best way forward is to keep gradually raising the federal funds rate.” who is testifying before the Congress. EURUSD dropped and ended up at 3-week low of 1.1574.
And Trump got up on the stage. In an interview, he criticised FED. He said that ” we go up and every time you go up they want to raise rates again. I don’t really — I am not happy about it. But at the same time, I’m letting them do what they feel is best.” Dollar sell-off began. Immediately
Additionally, Trump revived trade war concerns by the end of the week, stating that “I’m ready to go to 500”
Considering that Trump has no control over the FED, it is likely the markets will re-focus on the macroeconomic data soon.
Upcoming week, Thursday and Fridays will be the most interesting days. Thursday ECB will have their monetary policy meeting and Friday the US will release Q2 preliminary GDP and PCE inflation.
But for now, it is likely the “Trump Volatility ” will be over the markets.
Technically:
On the weekly chart, EURUSD made a bullish candle with a lower low and lower high. Far below MA 20. It’s a clear bearish trend.
On the daily chart, the pair ended the week below the EMA 50 but in the upper Bolinger Band over MA20. RSI headed North.
The pair has been stuck between 1.17000 and 1.16000 without a clear break.
On the H4 Chart, technical indicators turned to Bullish. However, as said, upward momentum is limited on the bigger chart timeframes. The shorter term Bearish trend will not change as long as the pair holds below 1.18500.
Levels to watch:
Upside: Above 1.17200, minor resistance is at 1.17560 and major resistance is at 1.17900. If the pair breaks above 1.17900, it is likely to test 1.18500.
Downside: 1.16900 and 1.16500 will be the targets if EURUSD makes a few Hourly closing below 1.17200.
We will have a high volume of volatility, however, it seems that the markets are still pricing in more rate hikes in the US and a dovish stance from the ECB.
EURUSD Bearish Triangle Breakout and ForecastFundamentals:
Powell’s testimony on monetary policy was quite optimistic pointing out the recent inflation readings are encouraging
On the Euro side, we will have June inflation figures.
On the US side, Housing Starts and Building Permits will be released.
Technically:
As seen on the H4 Chart, EURUSD is breaking out the Bearish Triangle. The price moved below EMA 50 and EMA 100.
1.16270 is the first support. 1.15980 and 115670 and 1.15380 will be the next target of the pair.
(Sell) EURUSD Technical Analysis for April 25, 2018Hello Traders,
From our previous preview of this pair, all we needed were lower lows and that we got as price action shows. As you can see, not only is there is a stochastic sell signal in the weekly chart but bears are capitalizing on that clear bearish divergence following an over-extension/EURO over-valuation by week ending February 2. However, that’s not all.
There is a bear break out below the main support trend line in the weekly chart. This therefore means the only way of turning a decent profit is to trade with the trend and that means taking short positions in lower time frames.
If bear momentum is strong, assuming we see a divergence of %k and %d in the weekly chart in the coming sessions, then we can enter shorts right away without expecting prices to bounce back as they do whenever there is a break out like this.
In the 4HR chart, sellers are on the upper hand. Despite earlier bull pressure following a stochastic buy signal and a confirming candlestick, prices are fading that move. Conservative traders can wait for a break below 1.218 or this week’s lows before initiating sells but if you want to short now then you can with stops at 1.2250.
Because of this inclination, my EURUSD trade plan will be as follows:
Sell: 1.221
Stops: 1.225
Take Profit: 1.16
Let me know what you think. Have a good trading day!!!
This Analysis was first posted at Forex.Today by Dalmas Ngetich
