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EURUSD remains pressured below 50-SMA, monthly low in focusDespite bouncing off intraday low, EURUSD remains below immediate hurdles, namely 50-SMA and weekly rising trend line. Also keeping the pair sellers hopeful are the downbeat MACD and RSI conditions. Hence, the latest corrective pullback could be ignored unless the quote stays below the short-term resistance line around 1.1985. Although a breakout of 50-SMA level of 1.1920 can’t be ruled out. It should, however, be noted that the trend remains bearish unless the quote crosses a downward sloping trend line from May 17, near 1.2075. Meanwhile, the 1.1900 threshold and the yearly low around 1.1845 can lure the intraday bears. In a case where EURUSD bears remain dominant past 1.1845, the 1.1800 round figure may act as a buffer before driving the prices southward to an ascending support line from November, close to 1.1765. To sum up, the quote remains depressed but intermediate bounces may be expected.
Short
by MTradingGlobal
GBPUSD kick-starts the key week on a bearish noteGBPUSD remains pressured around mid-April lows, down for the fifth consecutive day, amid early Monday. Although oversold RSI conditions recently probe the cable bears, a clear downside break of 100-day SMA and an ascending support line, now resistance, from January 18 favor the pair bears. Hence, a horizontal area comprising March-April lows surrounding 1.3670 remains on the traders’ radar before directing the sellers toward 61.8% Fibonacci retracement of December-June upside near 1.3560. It’s worth observing that the lows marked during mid-February and early March, close to 1.3775, can act as immediate support. Meanwhile, corrective pullback needs validation from the previous support line from early 2021 around 1.3855 to challenge the 100-day SMA level of 1.3940. During the quote’s run-up beyond 1.3940, the 1.4000-4010 area and multiple levels around 1.4085 can test the GBPUSD bulls. It should, however, be noted that the bullish impulse remains challenged until the quote refreshes the yearly high beyond 1.4248 on a daily closing basis.
Short
by MTradingGlobal
EURUSD bounce off key Fibo. but bears remain hopefulEURUSD fades bounce off 61.8% Fibonacci retracement of November 2020 to January 2021 upside amid fresh selling pressure witnessed ruing early Friday. However, oversold RSI conditions test the quote’s further selling below the key Fibo. level surrounding 1.1885. In a case where the bears dominate past 1.1885, the early March’s low near 1.1835 and the 1.1800 round figure could entertain them ahead of an upward sloping support line from September 2021 near 1.1740. Meanwhile, recovery moves need to cross the 200-DMA level of 1.1990, also the 1.2000 psychological magnet, to restore the upside momentum targeting the 1.2100 threshold. During the run-up, the mid-May low near 1.2050 can act as an intermediate halt. It should, however, be noted that the quote’s run-up beyond 1.2100 will battle the 1.2160 and the 1.2210 resistances before chasing the 1.2265-70 key hurdle to the north. Overall, EURUSD remains bearish following the clear downside break of the important moving average but short-term pullbacks can’t be ruled out.
Short
by MTradingGlobal
EURUSD 7/06/2021 - WEEKLY FORECAST TF 2HHello Traders! While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the eye signs. Heart in the box - a place to take profits Eye sign - spot to jump in, or watch Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to DM us! Thank you for your attention, GOD BLESS U ALL !!!
Short
by UnknownUnicorn20315650
EUR/USD closes below key supportEUR/USD looks like a sell on rise Last week's close violated 1.1945, the 23.6% Fibo retracement level of Nov-Jan rally. Area around 1.1945 also acted as strong resistance in late August/early September 2020. More selling likely, albeit after a minor bounce. Risk assets could open higher, pushing USD down during Monday's Asian hours. President Biden's $1.9 trillion stimulus has been approved. Bitcoin is back above $50K, hinting at dollar weakness during the Asian hours. I would look to sell the bounce...major support is now the 200-day SMA, currently at 1.1808, followed by the 38.% Fibo hurdle at 1.1695. Strong close above 1.20 would force me rethink my bearish bias.
Short
by OmiFX8
$EURUSD - Sell below $1.20200 and here is whyHi guys! 👋🏻 🔔 The US vaccination plan and restrictions implemented resulted in a decrease of the new active cases. 🔔 Johnson and Johnson reported that their vaccine is 72% effective against moderate and severe disease in the US, and 57% in South Africa. In South Africa, 95% of cases in the trial were due to a variant known as B.1.351, which is known to be more contagious and carries mutations. 🔔 President Biden’s administration already signed a policy to lift the rate of vaccination among the US delivering more than 33 million shots. The European Union on the other hand is demonstrating a rather weaker approach to beating the Covid-19 spread, with Spain hitting new records of Covid-19 cases. 🔔 US GDP as per the final quarter of the last year, released on January 28, demonstrated a 4% growth, while the data from the EU, released yesterday, were rather unsettling. Europe's GDP (QoQ) is down 0.7% and (YoY) is down 5.1%. Despite the released positive PMI data and a rather positive Core CPI (YoY) s per January, Euro still looks weaker against the US Dollar. 🔔 Current support of $1.20200 is keeping the bears above it as it was a heavy resistance earlier, that means if this support is brokean we might see a greater correction of the pair. 🔔 The Non-farm Employment change which is going to be released today and tomorrow's Initial Jobless Claims will be significant for the USD, as the employment growth is the FED’s key metrics for the economic recovery. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Short
by azizelliott