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USDEUR

USD/EUR Analysis / RSI DivergenceHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The USD/EUR pair was down on Friday morning in Asia, and dropped almost 0.96 %, and reached 0.8847, and an RSI Bearish Divergence has been found between the chart and the market. The USD/EUR was trading in an uptrend channel and today was the breakout down which got a lot of investors worried about how safe is the dollar right now. But losses were minimized as growing concerns about a newly discovered COVID-19 variant in South Africa. Possible Scenario for the market : The market has started dropping rapidly today and brokeout the uptrend channel, looking at the chart we can tell that the Bears are holding control right now which might cause the dollar to even fall even more. the market is trending near the first support level at 0.8848 where we might see a rebound but so far none of the indicators are showing any Bullish movement, the drop will probably continue to reach the second resistance level located at 0.8788 or even the 0.8720 level in the next period of time. Technical Analysis Show : 1) The market dropped below the 5 10 20 MA and EMA indicating a Bearish trend for now, but still above the 50 100 and 200 MA & EMA. 2) The RSI is at 35.90 showing great weakness in the market with a bearish divergence found between the indicator and the market. 3) the MACD line is nearing the 0 line changing from a Bullish to a Bearish market with a Bearish crossover between the MACD line and the Signal line. Support & Resistance points : support Resistance 1) 0.8843 1) 0.8897 2) 0.8821 2) 0.8929 3) 0.8789 3) 0.8951 Fundamental point of view : In Europe, a rising number of COVID-19 cases prompted Germany to consider following neighbor Austria’s lead and re-impose a lockdown. If the COVID-19 situation worsens, then USD/EUR could go down further, but otherwise, the monetary policy divergence is definitely going to be weighing on the EUR in the medium term. Investors are worried about the state of the dollar and looking forward to other safe-haven assets like Gold or Crypto. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh
4
Bearish Bias for EURUSD with big pullbackEurusd hit liquidity block and 1.13 is likely to be reversal level for this move. Most likely it will crawl up to cover the newly formed inefficiency before the bearish trend will contoniue to years S1 pivot / TD projection. Price might well end this year at Quarterly Camarilla L5 (S5) - I havent plotted thatbut it is inside of liquidity block. Watch even round number levels - they tend to have more efficacy that odd round numbers. This analysis area based on teachings of Chris Lori and Tom DeMark. FOR EDUCATIONAL PURPOSES ONLY!
Short
by ICFX
King Dollar Here, Where's Risk?Our focus on the dollar today is based on the fact that for over a year the DXY has been forming a double bottom reversal pattern. Now that we're back near the recent high's, we're seeing the stars align for a major market correction, not necessarily off the back of a DXY breakout, but perhaps because of a major risk off move across the asset classes. I mean, the Fed did just say they're going to begin a taper schedule as early as this year. If that doesn't spook markets, I don't know what will. Power hour in 40 minutes...
TVC:DXYLong
by Hedge_Of_The_World
6