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EURUSD-2

EURUSD gradually rises inside six-week-old bullish channelEURUSD extends the previous three-week uptrend as traders await Eurozone Retail Sales and the US inflation data. The quote’s latest upside could be portrayed by an upward-sloping trend channel. That said, the 78.6% Fibonacci retracement level of September 12-28 downside, near 1.0070, lures short-term buyers. In a case where a nearly overbought RSI fails to stop the pair’s upside, the stated channel’s upper line near 1.0140 will gain the market’s attention, a break of which could challenge September’s peak surrounding 1.0200. Alternatively, the pullback move could aim for the 50% and 61.8% Fibonacci retracement levels, near 0.9945 and 0.9865 in that order. Following that, the 200-SMA level near 0.9810 and the bullish channel’s support line, close to 0.9750, will act as the last defense of the EURUSD buyers. If the quote defies the bullish chart pattern, multiple supports near 0.9640 and 0.9580 could test the sellers before directing them towards refreshing the yearly low, currently around 0.9535. Overall, EURUSD is likely to grind higher but the room towards the north appears limited.
by MTradingGlobal
EURUSD buyers need validation from 1.0100 and FedDespite retreating from the 100-DMA during the last week, EURUSD defends the upside break of the 50-DMA and five-month-old descending trend line as traders await the Fed’s verdict on Wednesday. The major currency pair’s latest rebound also gains support from the firmer oscillators. As a result, bulls are hopeful of overcoming the 100-DMA hurdle surrounding 1.0070. Even so, the previous monthly top surrounding 1.0095 and the 1.0100 hurdle could test the upside momentum before giving control to buyers. In that case, a run-up towards the horizontal resistance area comprising multiple levels marked since May 12, close to 1.0360, appears more likely to follow. Meanwhile, a downside break of the resistance-turned-support and the 50-DMA, surrounding 0.9880, could quickly drag EURUSD towards a five-week-long support line near 0.9780. Should the quote break the nearby trend line support, the 0.9670-60 support region will gain the bear’s attention before targeting the yearly low near 0.9535. Overall, EURUSD is up for reversing the downward trajectory established in June. However, it all depends upon how well the Federal Reserve policymakers can convince markets of their dovish hike.
by MTradingGlobal
EURUSD SellHi again traders. Rcent USD weakness and EU positive news performed a shift in EURUSD trend. However, I am seeing that the past broken support which I pointed out with the eclipses, has not been retested and perhaps now is the time for this check. I consider this current level of important resistance which might drive the price at least in my first TP area or further down. If it breaks the upper resistance zone (above it I put my SL), it will become pretty bullish. GL!
Short
by The_Forex_Path
EURUSD, 1D BEARISH FORECASTDespite the fact EU trading in correction, I've spotted an area where traders should pay attention to, the price has already tested the major resistance level between Aug-Sep. Consider below reasons for selling market. 1. EURUSD is now trading below 50% and 61.8 fib ret. This is clear indication that EUR could continue trading low against Cable. 2. Another reason is that our harmonic or XABCD pattern have came with a bat pattern, which shows that the CD leg has already been completed, and the Bearish movement has taken place according to the current market price. 3. I've noticed that the price has started with raising trendline or channel from the price level of 0.95455 which matced exactly to the 100% of the 31 may high. And the last highest traded price matched with our last part of our bat pattern leg that's D and that's exactly the resistance of the raising trendline/channel. 4. The European Central Bank (ECB) has came dovish after their interest rate decision, and the Lagarde hints more economical pains till end of the year. With the above reasons I believe EURUSD will reach atleast 0.98088, which is retest level of broken descending trendline respected since 08/Jun/22, it also matches our 78.6 ret level, and the testing area of raising trendline/channel. It means price has to reset raising trendline/channel atleast before going back high to 61.8 ret level. Find confirmation using lower timeframe.
Short
by CELGIB_TRADING
EURUSD LONG entry point FRIDAYGold is not giving any proper merk, waiting for clear move on it. I am focused on for that dollar is not showing any action. Key level to bye 1642, 1636 with 20pips SL only on confirmaton on small timeframe. TP is 1656-64. This analysis is on EURUSD, yesterday's decision made euro come down, and it is still in strong downtrend, but I want one confirmation for that eurusd should move up, you can catch this trade now or on second entry. SUPPORT, COMMENT, LIKE AND SHARE @protradingpoint SEARCH ON GOOGLE protradingpoint SUPPORT ON O T H E R S O C I A L M E D I A Pro Trading Point Wishes You A Great And Very Amazing Trading Life. Trade Safe, Trade Right. RISK WARNING 🔴 🔴 🔴 There is high risk of loss in Trading Forex, Crypto, Indices, CFDs, Features and Stocks. Choose your trade wisely and confidently, please see if such trading is appropriate for you or not. Past performance is not indicative of future results. Highly recommended - Information provided by Pro Trading Point are for Educational purpose only. Do your investment according to your own risk. Any type of loss is not our responsibility. HAPPY TRADING.
Long
by ProTradingPoint
EURUSD Uptrend above 0.9880 & Downtrend Below - Daily ChartsThe Euro pulls back from new six-week high, as traders collected profits from a steep six-day rally, after the action was repeatedly capped by falling 100DMA and daily cloud top, while overbought daily studies contributed to the decision. Dip below parity (to 0.9972) was so far short-lived, signaling that bullish sentiment remains strong, however daily stretched indicators (momentum and stochastic) are turning south, keeping in play risk of extend consolidation / correction. Ability to hold above parity would signal strong bullish bias and keep in focus key barriers at 1.0088/1.0090 (10DMA / daily cloud top) clear break of which would signal bullish continuation and expose targets at 1.0172/97 (Fibo 76.4% of 1.0368/1.0535 descend / Sep 12 lower top). Caution on close below parity (also near daily cloud base) and 0.9984 (Fibo 23.6% of 0.9631/1.0093) that would weaken near-term structure and revive risk of deeper pullback.
by vishalfxfx
EURUSD braces for further upside but 0.9900 tests bullsEURUSD jostles with a four-month-old resistance line, as well as the 50-DMA, respectively around 0.9870 and 0.9900, as it lures buyers near a fortnight top. Given the firmer RSI and bullish MACD signals, the major currency pair is likely to refresh the monthly top, currently around the parity level. In doing so, September’s peak surrounding 1.0200 will be crucial to confirm the bullish trend. Following that, a run-up towards the five-week-old horizontal resistance area near 1.0360 can’t be ruled out. Alternatively, the EURUSD pair’s failure to provide a successful break above 0.9900 could drag it to the monthly support line, close to 0.9720 by the press time. Even so, the bears may want to wait for a clear break of the four-week-long support zone around 0.9660 to retake control. In that case, the yearly low of 0.9535 will gain the market’s attention. In a case where the quote remains weak past 0.9535, the 0.9000 psychological magnet should lure the sellers. Overall, EURUSD is up for regaining the bull’s confidence but a clear break of 0.990 is necessary.
by MTradingGlobal
EURUSD signals further downside, 0.9670 in focusAfter staying off the bear’s radar during the first two days of the week, EURUSD returned to the red zone as it broke the weekly support line. The trend line breakdown joins downbeat oscillators to keep sellers hopeful of meeting an upward-sloping trend line support from September 28, around 0.9670. The quote’s further downside, however, will be challenged by the monthly low of 0.9631, a break of which could quickly drag prices towards the multi-year low marked in the last month around 0.9535. Alternatively, the support-turned-resistance around 0.9840 guards the immediate recovery moves. However, a convergence of 200-SMA and a five-week-old descending resistance line, close to 0.9855, appears a tough nut to crack for the EURUSD bulls. It should be noted, though, that the pair’s successful break of 0.9855 will open the doors for the run-up toward challenging the monthly peak surrounding the parity mark that seems the last defense of the bears. Overall, EURUSD has already welcomed the bears but the party appears a small one unless breaking 0.9670.
by MTradingGlobal
JSW STEEL ANALYSIS ON DAILY TIME FRAMEGood Evening everyone, JSW STEEL on a Daily time frame formed a triple top pattern. The last one is all time high. -->After creating all time high came down directly and broke the last low before ATH (Horizontal Arrow) -->Observe the price action after that , Price hardly managed to go to 0.618 Fib level (shown on chart) ->Got rejected from that level and formed a lower low & lower high. -->Now this setup looks good for selling with all these confirmations. If there is any small retracement and price came back to 657 -660 levels we can short with a SL of just 30 rs. -->Those who trade options may plan accordingly stop loss levels will be same (690 levels). Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. If you want me to video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
NSE:JSWSTEELShort
by Mo-Kri
EURUSD braces for fresh yearly low ahead of key events/dataEURUSD bears take a rest around the two-week-old horizontal support area while waiting for this week’s key catalysts, namely FOMC Meeting Minutes and US CPI. That said, sluggish RSI and bearish MACD signals join the quote’s sustained trading below the 50-SMA to keep sellers hopeful. However, a clear downside break of the 0.9665-50 region appears necessary for the fresh leg down. Following that, the latest multi-year low, marked in September around 0.9535, will gain the attention ahead of the 61.8% Fibonacci Expansion (FE) of August-October moves, close to 0.9485. In a case where the pair remains weak past 0.9485, the odds of witnessing a slump toward the September 2001 high near 0.9330 can’t be ruled out. Alternatively, recovery moves need to cross the 50-SMA level of 0.9800 for the start. Following that, the 50% Fibonacci retracement of the August-September downside and the monthly high, respectively around 0.9950 and the 1.0000 psychological magnet should lure the EURUSD buyers. If the quote remains firmer past 1.0000, a two-month-old downward sloping resistance line, around 1.0025 by the press time appears the last defense of the bears. To sum up, EURUSD appears bearish ahead of this week’s important data/events.
by MTradingGlobal