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European Session EURUSD Boost From ECB UpdateEURUSD Technical Analysis Day Trading Range: 1.1635 - 1.1755 Pivot: 1.1665 Key Support: 1.1690 - 1.1665 - 1.1635 - 1.1600 Key Resistance: 1.1720 - 1.1735 - 1.1752 - 1.1775 Technical Indicators: MACD: MacD is having Strong Bullish volume. Moving Avg: SMA100 (1.1624) & SMA200 (1.1570) Strong Support for EURUSD. Technical Most Likely Scenario: long positions above 1.1665 with targets at 1.1718 & 1.1735 in extension. Technical Alternative scenario: below 1.1665 look for further downside with 1.1635 & 1.1605 as targets. Fundamental: The EUR/USD has found acceptance above the 100-day moving average for the first time since April 25. The common currency picked up a strong bid yesterday after the European Central Bank (ECB) sounded optimistic about prospects for inflation, bolstering the already bullish technical setup. Today’s data is US meets expectation the possibility for USD to gain upper hand against EURO before market closes on Friday is very low as it will scale down investors’ expectations for faster Fed rate hikes. Meanwhile, an above-forecast reading would reinforce expectations that domestic demand would cushion the US economy from external shocks and could put a bid under the USD. Risk sentiment in market has died down a bit as President Trump tweeted that he felt no pressure to do a trade deal with China, causing some unwind of the positive risk sentiment despite his government reaching out to China for trade related talks. Thanks YoCryptoManic
Long
by yoCryptoManic
6
European Session EURUSD, Still in RangeEURUSD Technical Overview: Day Trading Range: 1.1570 - 1.1730. Pivot: 1.1615 Key Resistance: 1.1655 - 1.1682 - 1.1732 Key Support: 1.1605 - 1.1565 - 1.1520 Technical Trade Idea Most Likely Scenario: long positions above 1.1615 with targets at 1.1660 & 1.1675 in extension. Alternative scenario: below 1.1615 look for further downside with 1.1595 & 1.1570 as targets. Technical Indicators: MACD: Indicator shows upside momentum. Moving Avg: SMA100 (1.1560) & SMA200 (1.1583), strong support for today. Fundamentals: Falling Spread Between German and Italian Bonds Boost EURO in Broad Market Besides the ongoing Italian budget noise, it’s pretty quiet going in terms of local drivers for the EUR and Investors seem to have put off chasing any ECB policy normalization story. However, there is little out there that supports the case for long euro, albeit there have been some less negative wires on the political front with respect to Italy and Brexit updates and there have not been any EM nor fresh trade headlines to sink the dollar’s peers so far this week. US Greenback lost some ground on recovering momentum in EURO & GBP however skittish emerging market currencies helped limit the greenback’s retreat. The dollar may have pulled back from two-week highs but it is expected to stay well supported in the longer term, continuing to garner safe haven bids in the wake of weakness in emerging market currencies. On release front, today’s European calendar remains silent however macro data across key European markets were dovish yesterday while US Trade balance was well in line with expectations. Today’s market hours will see release of ISM Non-Manufacturing PMI, Crude Oil Inventory and ADP Non-Farm employment change data and a hawkish outcome in same could help USD gain upper hand against the shared currency. Thanks YoCryptoManic
Long
by yoCryptoManic
NANO Ascending TriangleHourly NANO/BTC chart clearly reflects an ascending triangle which is generally a bullish pattern in TA. Resistance appears to be around 0.0003170. Traders may consider entering long positions if 0.0003170 resistance is broken. RSI is nearing overbought area, before reaching that critical resistance point I would expect price to retest 0.0002800 levels. Look for a significant increase in volume as a confirmation of a breakout, absence of volume boost will most likely indicate false breakout. If a breakout occurs, 0.0003170 will most likely become our support. If a false breakout takes place, price will move significantly lower triggering price reversal and downtrend.
NLong
by bxcimu
Long EURUSD from the strong support / resistance zoneEURUSD price is in the range that has acted as strong resistance / support zone since 2015. I expect this zone to be respected. I expect EUR to recover 100pips+ from this region and then continue sell down. I am still bearish on EUR due to crisis in Turkey. Italy politics is also not giving any reason to celebrate. In addition I see that volume is reducing during bearish candles while volumes are really high for green candles. Another reason for us to go long.
by thedealbuddy
Buy the Breakout EUR/USD Bullish ExpectationHi guys, Here some analysis on the EUR/USD pair: After some macro indicator such as a stronger non farm payroll in USA which showed higher wages, the DOLLAR got stronger and we saw a correction on this pair. Technically, the price has rallied since a long time and this might be just a natural correction. Currently, the trend is still up and I expect the price to go up around 1.22 where there will be some resistance and perhaps a consolidation and eventually a breakout. Here is the trend set up: - A nice consolidation has been formed + a DB - We can see a front running indicator,higher low supported by a big green engulfing candle - The price is lying on the upwards trend channel - Put a BUY LIMIT on the breakout of the consolidation, around 5 pips. - Risk reward around 1:1.8 targeting the major DAILY resistance, around 1.21-22 If you liked my analysis feel free to leave a comment or a like. Cheers, Sebastiano
Long
by Sebatrader1
1
EUR/USD Long PositionFundamentals:- The rate hike due out in December from the Federal reserve bank in the USA is now old news and the market has long priced in dollar strength. What is coming to light in the Eurozone is the bailout agreement for the U.K. and the European inflation slowly picking up pace. ECB tapering could be on the cards meaning the ECB will be looking at ways to reel in their Quantitative easing campaign and eventually raising interest rates. The CPI reading for Europe is due out tomorrow and we expect an increase from 1.4% to 1.6%; so keep an eye on the charts at 10am. Of course I will already be inthe trade by then and hoping to reap some profit Technicals:- We have had a nice pull back from the recent highs on the EUR/USD pair with a good area of confluence and rejection from the 11800 level. I am looking to enter at market with a decent leg up above 12100 Entry price 11850 stop loss 11700 take profit 12100 / 12200
by FreeForexSignals4u