The probability of falling to the specified range⚫️ This currency pair is in an ascending channel, but now it has reached the ceiling of this trend, so there is a possibility of falling to the bottom of this channel.
On the other hand, a negative divergence can be seen in this currency, which makes the possibility of a fall stronger.
Also, static resistance causes this currency to witness a fall.
But today we have an important news that may cause the failure of this important resistance range and the ceiling of the channel.
We will update this analysis
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Eurusdtrendanalysis
EURUSD 4H :support further declineEURUSD
New forecast
The EUR/USD pair presented mixed trades last Friday, as it tried to break the 1.0616 level but returned to holding below it again, waiting for the bearish bias to resume to test the bearish resistance around 1.0461 as the next main target.
Therefore, the downward trend scenario will remain effective for the coming period, supported by the bearish trend, keeping in mind that breaking 1.0562 will stop the expected decline and put pressure on the price to rise again.
The expect range trading for today it will be between the resistance line 1.0550and support line 1.0461.
Additionally ,Today News will affect the market .
support line : 1.0487 , 1.0461
resistance line : 1.0550 , 1.0562
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EURUSD 4hr TFIt appears that EUR/USD may have reached a potential low point after being in a bearish trend for 80 days. Currently, it has closed above a recent swing level. I am patiently awaiting a breakout and subsequent retest of the channel before considering a move towards 1.07338. On the other hand, the DOW Jones is beginning to shift towards a bearish trend after 11.4 weeks of bullish activity. This shift may lead to upward movements in gold, silver, and EUR/USD.
There are several converging factors to watch for a buying opportunity once EUR/USD breaks out of the channel.
EURUSD 4H :below 1.0500 will open the way to dropEURUSD
New forecast
The price perfectly fulfills my last idea and price reached our second target +70 pip.
Trading in the euro/dollar pair stabilizes around the 1.0500 barrier, awaiting a negative incentive that will help push the price to resume the expected downward trend for the coming period, which targets the 1.0440 level as the next negative station , so the main condition to be continue at the bearish tendency it should stable under 1.0500 and then will drop.
The downward channel and the strength of the dollar continue to support the downward wave within the downward channel that appears in the chart above, keeping in mind that breaching 1.0545 will stop the expected decline and lead the price to make some upward intraday correction.
The expect range trading for today it will be between the resistance line 1.0500 and support line 1.0541.
Additionally ,Today News will affect the market .
support line : 1.0500 , 1.0440
resistance line : 1.0541 , 1.0573
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EURUSD 4H : show more bearish EURUSD
OUTLOOK
The price perfectly fulfills my last idea and price in the way to reach our target .
The EUR/USD pair shows more bearish tendency to gradually approach our expected target at 1.0535, and we expect negative trading to continue to achieve additional negative targets extending to the 1.0501 areas.
Therefore, the downward trend scenario will remain valid and effective for the coming period, organized within the downward channel that appears on the chart, supported by the downward channel and the strength of the dollar, which continues to put negative pressure on the price, keeping in mind that stability below the 1.0631 level represents a basic condition for achieving the expected goals.
The expect range trading for today it will be between the resistance line 1.0580 and support line 1.0535.
Additionally ,Today News will affect the market .
support line : 1.0535 , 1.0501
resistance line : 1.0580 , 1.0631
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
EURUSD POTENTIAL SELL OPPORTUNITY - MULTIPLE TIME FRAME ANALYSISIt seems EURUSD has been in a down trend on the 4 hour time frame and on the daily, and a bearish hammer candle has formed on the weekly chart. There also seems to be a nearly 50% retracement that has occurred within the channel, which is a good indication that it may continue to go in to the direction of the trend. Assuming it does fall, then it can be said it is likely it will reach the bottom of the channel and that seems to be a good R:R trade.
*NOT FINANCIAL ADVISE, MERELY AN OPINION*
EURUSD Trade In-Channel Pattern After The Breakout.EURUSD has given a breakout from its downtrend line, but EURUSD price is still trading near that downtrend line in channel pattern, so the breakout is not so strong to change long term trends. Considering this, we might see a downside in EURUSD towards the support1, as it is crossing down trendline as well, so EURUSD might consolidate at support1, but if it breaks the support1 fresh downside trend can be considered and EURUSD might move towards the support2. If it takes support at support1 and bounces back from that level, resistance will be at resistance1.
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EURUSD Trading at Crucial Support LevelEURUSD was trading in a rising wedge, also it has breakout from long term symmetrical triangle on the upside. It was trading at the support line of the rising wedge, which was a crucial support line, as it breaks the support line of the rising wedge we might see more consolidation to the downside in EURUSD.
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EURJPY Trading In Channel Pattern On DownSideEURJPY is trading downside from its previous top in Channel pattern also it is trading at its support line so we might see some bounce back in EURJPY from its support level towards upside one can trade with stop loss with support line and trade for long side for few pips.
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EURUSD Short Setup (not yet...)You can see that EURUSD respects this daily down trend. I know this trend already tested a few times but I still think there's more to go.
This is how i have planned my 1:2 risk to reward trade:
First of all; EURUSD just crossed the middle of the trend. We can expect a pullback to the middle support line. If i go short from here, my risk to reward will be 1:1. We can see that stochastic is almost oversold and pointing up. I don't like drawdowns so I'll pass 1:1 trade and wait for the price to hit the resistance. I'm planning to go short once we hit the resistance of this descending trend.
Entry: 1.13510
SL: 1.1450 - 100 pips
TP: 1.11460 - 205 pips
This time I don't have any other profit levels. Only one. Also I'm not planning to trail my stoploss until the price hit to the middle line. I will then move my stoploss a few pips over the most recent swing high and no it's not break-even. As this is a descending trend, levels may change by time. We don't know (we can not) when the price is going to hit to the top. It may not even hit. That's why, I'm going to update this post accordingly.
I know 100 pips might look a bit scary but i am good at managing my risk. I'm risking only 2% of my account balance here.
Disclaimer: This is not financial advice...
Trade safe,
Atilla