Eurusdtrend
EUR/USD fails to break 4H resistance, 1.0680 on the cards?Dear traders EUR/USD has failed to break the 1.0780 resistance
level on the 4H Chart. As I mentioned in my previous ideas, breaking this
resistance level is crucial for the uptrend to continue.
Now, since we have seen a bearish candlestick formation at this key
level, price can fall further to 1.07 or 1.0680 in the coming days .
EUR/USD best level to buy + 267 PipsDear traders, after the bearish move for the last 1 month, EURUSD appears
to be consolidating. A minor support at 1.0660 has been created and EURUSD
is currently consolidating in a small range.
However, since price has fallen below the 100-day EMA, bulls need to be a
little careful .
That being said, 1.0660 appears to be a good point to buy if price doesn't breach
this level. So, traders can consider going long in EURUSD@1.0660 with SL below 1.06
and initial TP at 1.08 . Long-term traders can keep their final TPs at 1.11.
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.
EURUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURUSD 31May2023finally the price touched the SnD area, looking at the shape of the candle that occurred today, it is likely that there is still considerable bearish pressure. if you see the price in the SnD area, the fibo extension has reached 1, there is indeed a possibility of correction. but it's better to wait for a bullish confirmation candle if you want to take the opportunity to buy.
EURUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
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.
EURUSD 28May2023still in accordance with last week's analysis, prices will continue to fall in the SnD area. there is a possibility that the price will continue to fall closer to wave 2 as an invalid area. the invalid area here serves as a barrier to analysis, that the main trend analysis is bullish, while the current bearish trend is a correction of the bullish trend. when the price is in the SnD area you can wait for an opportunity to go long, but if the price continues to fall, then it's better to wait back near the invalid area to go long.
EURUSD Top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURUSD: Clings to multi-day low!Hello traders, some information to help you trade better is here.
The EUR/USD experienced a consecutive drop, resulting in the lowest daily close in two months, due to the US Dollar's increasing strength. The Greenback was supported by higher Treasury yields and risk aversion. Any recovery seen during the European session was short-lived, and the pair returned to trading near 1.0750.
Economic data released on Wednesday revealed that the German IFO Business Climate Index dropped slightly to 91.7 in May from 93.4 in April (revised from 93.6), contrary to the market expectation of 93. However, this report did not have any impact on the Euro. On Thursday, a new estimate of Q1 GDP will be released by Germany, which is expected to remain at 0%.
According to the FOMC minutes, officials had differing opinions on the future of interest rates. Some members believed that more rate hikes were necessary, while others argued against further policy tightening. Overall, there was uncertainty about the appropriate amount of policy tightening. The US Dollar experienced a slight weakening after the minutes, but still maintained most of its daily gains.
Market sentiment deteriorated further amid a gloomy growth outlook and the debt-ceiling drama. Negotiations continue in Washington but no deal yet. On Thursday, economic reports due in the US include Jobless Claims.