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Potential Bearish Reversal AheadPotential Bearish Reversal Ahead EURUSD is currently trading around 1.078, moving within an upward channel. However, recent price action suggests a possible trend reversal. The chart shows signs of weakening momentum, and a break below the channel could lead to a further decline. If the price breaks the lower trendline support, it could open the path toward 1.073 and potentially lower levels. Traders should watch for confirmation of a breakout below the support level, as this could signal a shift to a bearish trend. For now, the bias leans bearish, with caution advised on potential entry points near the channel's lower boundary.
Short
by traderidqpmuna
¥155 remains an important hurdle for the dollarCompared to several other major pairs in recent days, dollar-yen’s next direction seems a lot less clear. The Japanese government is likely to monitor the possible impact of Donald Trump’s election on Japan’s economy but, for the moment, it seems to be less negative compared to the EU. Losses since 7 November haven’t been accompanied by very high volume of selling, which would usually suggest profit-taking rather than the start of a new downtrend or sideways trend. There’s also no longer any indication of overbought based on either the slow stochastic or Bollinger Bands. A close above ¥155 could be a reliable signal that the uptrend will continue, but that depends on American inflation on 13 November, news from Japan and overall sentiment. The 50 SMA from Bands is in the process of golden crossing the 100 SMA around the 38.2% weekly Fibonacci retracement, so ¥148.20 is likely to be a strong support in the event of a fairly deep retracement. Equally, the 20 SMA has been an active dynamic support in recent days. A move back to the area of the 50% Fibo, the main technical reference in August-September, seems very unfavourable for now. This is my personal opinion which does not represent the opinion of Exness.
by Michael_Stark_Exness
Euro-dollar might have found a floor for now around $1.07Apart from the dollar’s general strength in the aftermath of Donald Trump’s clear win, the collapse of the German coalition government has also affected the euro negatively. Markets are currently pricing in a drop to 2% for the main refinancing rate by June 2025 while Fed will probably remain about double that then according to CME FedWatch. 6 November’s drop was extremely sharp as the results of the American elections started to show a clear win for Mr Trump. As expected, $1.07 has held as a support for now but is very likely to be tested again in the next week or so. $1.07 is an important support primarily because that area was the source of the uptrend in July-August and because of the presence of the 100% monthly Fibonacci retracement. Given the fundamental outlook, it’ll probably be broken sooner or later, but how soon depends on the reaction to inflation on 13 November. The upside seems to be quite limited in the near future. The attempt to move back above $1.08 on 7 November was rejected but if American inflation next week is lower than expected there might be a retest of the 200 SMA around $1.087. This is my personal opinion which does not represent the opinion of Exness.
by Michael_Stark_Exness
Will we see intervention and the propping of Yens?We have seen various instances of Japanese Govt intervention and the propping up of a weak Yen. The Yen tends to get to seriously weak points like this as a result of their MP stance (low rates, high exports). The FED rate still sits much higher, as do most major economies. Japan benefits from a weaker currency until it gets too weak. If we see any further rises, we may see such falls as eluded to by Finance Minister Kato earlier today. After the assumption that FED may ease more slowly, USD strength still has a case. Looking for re-shorts on higher fib levels back towards previous highs. Any real price rise (especially if its quick) is likely to warrant further Intervention. Any serious intervention may cause rapid falls on Yen crosses, so a short side bias will be taken but only in proportion to equity/risk at all times. Awaiting further sentiment.
Short
by WillSebastian
HelenP. I Euro will rebound down from resistance zone to $1.0650Hi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price trades near the resistance zone (1.1120/1.1090) and then breaks the 2nd resistance level and starts to trades below. Some time later price declined a little more, but soon turned around and rose to the resistance zone, breaking resistance 1 one more time. Next, Euro continued to grow and reached the trend line, after which turned around and started to decline. In a shor time, the price broke resistance 1 again and continued to fall to another one resistance zone (1.0790/1.0760), which coincided with the current resistance level. When the price reached this zone, it at once rebounded and rose to the trend line, but soon fell back to the resistance area, after which made a strong upward movement, breaking the trend line. Euro rose to 1.0940 points, making a gap also, and then made a strong impulse down. Price broke resistance 1 and reached the trend line, but a not long time ago it rose to this level and now trades very close. In my opinion, EURUSD will enter to resistance zone and then rebound down. For this case, I set my goal at 1.0650 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
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Long
by Thief_Trader