Get started

Eurusdupdate

EurUsd Change of Character 🔔Hello everyone so off to the races here with another week in the markets. 0:0 Monthly timeframe 2:59 Weekly timeframe 6:38 Daily timframe 9:10 4hr timeframe 12:08 1hr timeframe 12:50 Bias My Analysis today is derived from the close of the Septmeber Monthyll candle. We observed the September monthly candle pull back up into the close with (2) Bullish Daily candles leading the way. Combine this with the fact that the Weekly candle last week closed above our Weekly/Monthly support level at 1.054. We currently are about 26 pips above our weekly support level and I can visualize price facilitating a move up from within this area. With that said, we have manufacturing in the coming session with the data expected to increase slightly but still contract overall ( which makes me more bullish on Eurusd). If I'm wrong then we will see a move back towards 1.054 Weekly support level and fail to hold it with NY session as a continue momentum on higher timeframes back to 1.05 daily support and psychological level.. What are your thoughts on the coming sessions? Thanks for joining me today
Long
by ShrewdCatfx
Monthly Candle pulls back for Closure? 🌛 EurUsdEurusd no mercy for the Monthly candle closure here. 0:0 Monthly timeframe 1:41 Weekly timeframe 3:57 daily timeframe 5:51 4hr timeframe 7:49 1hr timeframe 8:01 what happened during today 13:40 Bias for upcoming session Today we observed a V-Shaped recovery on Eurusd fueled by missed GDP data. We can also attribute the pulback to an over-extended DXY, profit-taking, and Fomo liquidity chasing the market down... Please let me know if you caught this retracement which I called out in my previous analysis about 24 hours ago. With that said, I'm anticpating an increase into the close of the monthly candle. I believe it can continue to pullback and create a larger bottom wick. The current size of the bottom wick on eurusd on the Monthly timeframe is 86 pips. Today price pulled back up and closed a solid bullish candle back above the weekly timeframe support level at 1.054 which was our original bearish shorts target on the week. To end the week, I wouldn't be surprised to see another bullish push after that bullish daily candle close that we observed today. This bullish push could extend to 1.06071 1hr resistance zone. We have clean traffic up to that level .. a 28 pip clean range. inflation data not expected to chang eover the previous data point.. could be catalyst to continue to pullback to the upside but if we are wrong.. it may act as a catalyst to pull back down towards 1.054 weekly support level or 1.053-1.052 area.
Long
by ShrewdCatfx
1
EurUsd Dives to the Sea Floor?🌊 🤔Despite missed consumer confidence on Tuesday, Eurusd has been tanking and continuing the higher timeframe momentum. 0:0 Monhtly timeframe 2:56 Weekly timeframe 4:55 Daily timeframe 6:50 4hr timeframe 8:55 1hr timeframe 12:40 Bias We may also observe that the market is pulling down into the close of the monthly candle. The same concept which you may hear me talk about with the weekly candle pulling down or pulling bak into the close of a weekly candle.. just on a larger scale. The Monthly candle here has pulled down 165 pips into the candle close vs on the weekly timeframe we may observe a 40-80 pip move into the candle closure. Now we have seen quite the move down and there were a few traders looking to take longs at the beginning of the week, little early but i think the time is nearing for a possible pullback with london or NY session. This is because we observed quite a large volatile move to the downside. Asian session has pulled up when typically it has been pulling down across the past few days.. foreshadowing possible retracement. Either way, flexibility is one of the best qualities to exercise as a scalper. We will be open- minded and patient with entries and exits when approaching risk. We have reached a psychological number and this coincides Eurusd approaching the lows of the year at 1.08486. Our next tsrgt for shorts is 1.04609 daily level. Our retracement target is 1.05419 or 1.056 4hr resistance level. GDP is anticpated to be good for the USD so this could provide a catlayst for a bear continuation. If it misses , then we may anticpate a retracement. This is the logical approach, but we all know the market isn't always logical but often irrational. If you've read this far, leave a comment and a rocket and I will see you in the next analysis. Cheers.
Long
by ShrewdCatfx
4
Momentum in a Bearish market 🪜EurUsdWhen the Market trends down, support zones become resistance zones after candlestick closure confirmations. 0;0 Monthly timeframe 1:15 weekly timeframe 4:15 daily timeframe 9:00 4hr timeframe 11:45 1hr timeframe 14:00 Bias If you are new to the markets, that last sentence is probably a bit confusing. But really all it sums up to is that the market moves down in methodical steps. This may not always be the case however... Similar to a ladder and different from a silde. The market will drop suddenly and slide deeply in a panic similar to the Stock market crash of 2020 with Covid-19. All support level's failed and liquidity was swept through due to a change in fundamentals. The forex market has much more volume and therefore will not slide as easily vs the stock market which runs on lower liquidity. We are talking about medium-long term slides across days and weeks or even months. In the short term however, fundamental releases can cause the FX market to slide 10's of pips in a matter of seconds. Being inclined towards a scalping style, it is especially important to be aware of these short term slides which could wipeout a sizable portion of a trading account. Price action to begin the week: Weekly level 1.0663 is especially relevant and may facilitate a selloff back to the lows 1.0613. If we do push higher, we may tap into 1.0691 daily resistance level before seeing more selling pressure. 1.054 is the weekly bearish target for this week and our first stop will be 1.0576 daily level where we may observe some profit taking. Bullish targets on the week include 1.075 daily resistace zone. For this scenario, would prefer a daily closure above 1.0691 daily level.
Short
by ShrewdCatfx
2
Make the opponent flinch, and you've already won - Musashi 📼 The market has been relentless to the downside over the last 2-3 months. 0:0 Monthly timeframe 2:00 Weekly timeframe 5:35 Daily timeframe 8:45 4hr timeframe 12:35 let's zoom out a bit 12:30 1hr timeframe 15:15 Bias Fueled by Inflation data and technical confirmations, the market has continued is descent time & again. Tuesday Wednesday and thursday have closed bearish. We have established momentum in the market and I believe it is likely that we contiue on this path to end the week. The weekly can may continue to pull to the downside as it is currently bearish and has a 77 pips top wick. The thursday daily candle closed bearish and we have a wick to go fill with momentum. The market set itself up early in the week as it was bullish on monday and observed bullish impulses on tuesday and wednesday. Thursday saw a continuation of the bear momentum established on wednesday and I believe we may also see a continuatiion on Friday. It is easier trading with the trend.. and they do say .. the trend is your friend. With that said, we must remain flexible when trading the markets and our success across time realy depends on our ability to adapt to the changing market conditions.
Short
by ShrewdCatfx
1
EURUSD: bullish or bearish? Check today's analysisThe updated data showed that in August, annual inflation increased by 5.2%, down from the previous measurement of 5.3%. Core CPI, excluding food and energy, increased by 0.3% monthly and 5.3% annually. This downward trend was taken positively by market participants, particularly following the European Central Bank's (ECB) decision to raise the key interest rate to 4.50%. On the other hand, recent US macroeconomic data has been mixed. Housing Starts in August adjusted from 1.452 million to 1.283 million, less than expected, but Building Permits increased from 1.443 million to 1.543 million, outperforming estimates. Later today, investors will be watching the outcome of the US Federal Reserve's monetary policy meeting, where the interest rate is expected to remain at 5+%. Comments about potential monetary policy tightening in November and December could significantly influence the markets. Resistance levels: 1.0700, 1.0730, 1.0770 Support levels: 1.0600, 1.0630, 1.0600
Short
by MsProTrading
1
A Bearish squeeze 🐻 unfolding or too hopeful? ❌EurUsd Buyers in La la land or are we onto something here? 0:0 Monthly timeframe 2:10 Weekly tiemframe 5:26 daily timeframe 7:34 4hr timeframe 10:25 Let's talk interest rates 12:30 1hr timeframe At times the market has coincided it's bottom or top with a News release. Today we have the September Interest Rates release as our fundamental catalyst for a potential bearish squeeze. We have 9 Bearish candles in a row. I was wrong last week about EurUsd longs so maybe I'm at fault here and this scenario is a long shot, no pun intended. We saw Profit taking on Fridaylast week and the market inched to the upside. On Monday we saw a clean range followed by a breakout to the upside on the intra-day timeframes during NY session. Today we observed a breakout to the upside once again with London Session. When NY session came around , price said " Not Yet" as we have Interest rates coming up and it was not the right time. We just ranged today prior to interest rates as one could expect. What I'm looking for is a move prior to news or a wick with news between 1.064 daily support level and 1.066 weekly support level preceding an increase back to 1.075 Daily resistance Zoneish. Not anticipating a rate hike or a rate cut as things will likely remain unchanged as we've already observed the fastest rate hike ever.
Long
by ShrewdCatfx
2
EURUSD possible buy and sell zone!!Currency Pair : EURUSD Possible direction : Bullish/Bearish With Main Refinancing Rate and Monetary Policy Statement coming up, there is very high chance for EURUSD to fill the FVG that has left daily 20EMA as the pricing in 4h moving with a bullish channel. Todays price still above the previous daily low, means, very high probability bulls will try to keep the higher low maintained. As 4h bullish channel is still on, we could see a break of the channel to the upside, which could lean the price to the FVG and breaking the high to the liquidity zone and from that place, we could see sell of to the monthly support zone. The possible entry would be ideal on the daily support a buy after rejection and a sell upon liqudity grab from the FVG. Please leave a like if you enjoy this analysis and comment below what do you think, which way EURUSD is heading with the news?
Long
by ForexWizard01
1
EURUSD: What to know in markets on Thursday!- EUR/USD is holding on to recovery gains near 1.0750 as the US Dollar (USD) remains behind according to mixed US Consumer Price Index (CPI) data. - The annual measure of US inflation rose 3.7% in August, compared with an expected 3.6% increase. CPI rose 0.6% in August, the biggest monthly increase of 2023 and in line with market estimates. Core CPI rose 0.3% and 4.3%, respectively, compared with estimates of 0.2% and 4.3%. - US S&P 500 futures boost market optimism, as US data underpins Federal Reserve (Fed) pause bets. - The yield on the benchmark 10-year US Treasury note fell to 3.21%. - On Tuesday, Germany's ZEW Economic Sentiment improved to -11.4 in September. However, the index measuring current conditions hit a three-year low at -79.4. "Financial market experts are even more pessimistic about the current economic situation in Germany than in August 2023," the ZEW Institute said. - The ECB event will be decisive for the short-term direction of the EUR/USD pair, as the focus turns to the Fed's policy announcements next week.
Long
by Sphyn-Trader
4
EURUSD: ECB detects leaked reportEUR/USD retreated moderately on Tuesday. It jumped to 1.0769, its highest in a week during the Asian session, but then reversed course, holding above 1.0700. Markets await US consumer inflation data and the European Central Bank meeting. Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest since August 2020) down from -71.3, while the Expected index reached -11.4, above the -15.0 forecast. The report provides more signals about a potential recession in Germany and the Eurozone. These factors weigh on expectations of an interest rate hike by the European Central Bank.
Short
by Sphyn-Trader
6
Anticipating the next Move 🚤 EurusdAnticipate the next move beginning with a Top-Down Analysis followed by looking through the lens of price action. 0:0 Monthly timeframe 1:10 Weekly timeframe 2:35 Daily timeframe 6:36 4hr timeframe 8:30 1hr timeframe 11:20 upcoming news We have alot of rejections at 1.07 Weekly support level beginning from last tuesday. This weekly support level is also a Monthly support level. The Daily timeframe flipped to bullish market strucutre on Monday and still maintains that stance. Though, one could argue that we are simply ranging now. We have higher lows and Higher highs on the 1hr/4hr timeframes. CPI inflation data today pulled price back down to retest the weekly support level once more at 1.07. To be exact it touched into 1.071 but I still count that. Yesterday and especially today price respected what was our previous resistance zone 1.0727 but has now turned into a daily support zone. CPI increased for the second consecutive month and we are moving away from the Fed's target of 2%. That is good for the USD and the higher timeframe momentum favors USD. Given this, we are at a key level on the monthly and weekly timeframes. Volatility has decreased ever since we tapped into the key level's. Also, these fundamental releases act as a short term reversal for the market.. another confluence. Really in trading it's about combining multiple confluences to increase the probabilities for a trade idea.
Long
by ShrewdCatfx
Seen this Story before ... 🔖Following price action versus what you think price action will do are two completely different concepts. 0:0 Monthy timeframe 0;47 Weekly timeframe 1:52 Daily timeframe 3:52 4hr timeframe 5:46 1hr timeframe 6;40 Bias for upcoming Understanding these concepts to their core has cost me. I have benefited though from reflecting on the outcomes of these two concepts. Price action will often times clue you on what will happen next. To listen to the price will take time and because you will be inclined to impose your beliefs on the market and invest your energy into solving, well, the wrong problems. Observing where candles close and understanding the nature of volume surrounding 1hr and 4hr candle closures is very important. These concepts make up the core of intra-day trading in the forex market. With that said, I am anticipating a bit of a retrace towards our previous daily resistance zone that may facilitate more longs. Our previous daily resistance was 1.0726 and it can now be characterized as Daily support since market structure flipped on the daily timeframe to bullish.
Long
by ShrewdCatfx
2
EURUSD: Investors wait for CPIThe EUR/USD currency pair experienced a slight recovery after reaching a new low below 1.0700 on Thursday. Although the bearish bias of the pair remains, there is potential for support due to profit-taking and an improved risk sentiment leading up to the weekend. On Thursday, the US Dollar continued to strengthen against its counterparts following positive weekly data. The number of initial applications for unemployment benefits decreased to 216,000 in the week ending September 2 from 229,000. Additionally, Unit Labor Costs for the second quarter were revised higher from 1.6% to +2.2% in the Bureau of Labor Statistics' initial estimate.
Short
by Sphyn-Trader
9
When the Price Action speaks, Listen! 🔉😼Price reacted off of 1.07 Weekly support level for 2 days before punching through it with New York session Open today boosted by positive USD unemployment data. 0:0 Monthly timeframe 2:21 Weekly timeframe 5:29 Daily timeframe 9:25 4hr timeframe 11:06 1hr timeframe Price printed a Daily bearish candle today and tapped into Extreme Daily Lows at 1.0688 Daily support zone. It is extreme daily support zone because price bounced 590 Pips off this area last time price was here. The Daily bearish candle today closed above the Extreme Daily lows. Yes the weekly candle is bearish at the moment, but I would not be surprised to see the Weekly candle pullback, and create a larger bottom wick to end the week. Calling the low has a good Risk/Reward and some people are good at spotting mean reversion trades. Be flexible because if the market continues to trend lower, we want to capitalize on that momentum. Interestingly enough, I'm looking forward to this mean reversion trade because of the News catalyst Unemployment Data. News releases can also provide the catalyst for a short term bottom and top in the markets. A good example of this was on June 27th earlier this year. After the news, a short term top was formed and price pulled back 100 pips. Anticipating something similar here.
Long
by ShrewdCatfx
2
Eurusd New Month .. New Lows to 1.07? 🛎️Traders! (≖_≖ ) we haven't seen a steady trend like this with 7 weeks of the same candles since June 2020. 0:0 Monthly timeframe 1:35 Weekly timeframe 5:13 Daily timeframe 7:25 4hr timeframe 9:46 1hr timeframe 11:30 Bias Hello traders. Yes, we did just create a daily support today at 1.0773. However, this support was created during a Bank Holiday and if you've hung around the block long enough in forex you know that Bank Holiday's have low volume and we should acknowledge them accordingly. If we do end up curling back to the upside here on Eurusd we do have 2 clean ranges on the 1hr and 4hr timeframes so long as we get above 1.08. With that said, the market is not random and we must act accordingly as we may coninue to descend into the depths below as we have been for nearly 2 months now. It is important to be flexible at times this . Bulls and Bear got thrown around last week with a early in the week Bullside push followed by a continuation of higher timeframe momentum to end the week, that also coincided with decent NFP data that was released better than expected. It is possible that we will soon touch into the next daily support level 1.0744. Momentum is still prevalent and so we must allot to it our due diligence.
Short
by ShrewdCatfx
Messy Monthly Candle close😾🐱Just look at this ruthless pullback breaking hearts during this monthly candle close. 0:0 Monthly Timeframe and previous Long Call 2:14 Weekly timeframe 3:34 Daily timeframe 7:10 4hr timeframe 9:50 1Hr timeframe 12:01 Fundamentals If you've been around long enough, you would understand that the monthly candle close in forex can be tricky. Price pulled up during this previous daily candle close and that was probably the most straightforward move in the market that've I've seen in months. The 1.086 move towards 1.093 was very easy to anticpate. That was like the 1 trade a month sort of trade. Tbh I don't see a whole lot occuring prior to NFP data during friday NY session. We've already moved up a decent amount on the week. Tbh we've already hit my Weekly bullish targets being 1.093 and 1.09. With NFP, ohh mann, what a wild close to the week if we retrace towards 1.10 with a continued sentiment , Risk on , Sell USD
by ShrewdCatfx