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Eurusd-3

Effect Of GFK Consumer Sentiment Index On EURUSDEURUSD dropped by almost 0.06% as inflation fears increased due to Fed's latest statements. Possible effects for traders Today, Germany will release the second assessment of Q4 GDP and the GFK Consumer Sentiment Index. Another important event is the U.S. PCE report for January. Overall, the Fed seems ready to continue further rate hikes, supporting the U.S. dollar. The EURUSD fell due to high demand for the U.S. dollar and returned to the levels of the year's beginning. The pair remained below 1.06000 within the Asian session, opening a potential for a downside correction to 1.05200. Still, today's economic reports may push EURUSD towards 1.07000.
Long
by skarantraderq
EURUSD Forecast for 21st Feb,2023Its having a lot of selling pressure and due to some dumb reasons bulls are not stepping in. It was very much hilarious to see how it kept on bouncing from 1.07 level. Anyways please keep in mind the following levels for any trade set up today. 20th Feb DH - 1.07045 DL- 1.06701 21ST FEB PIVOT - 1.0686 R1-1.0703, S1- 1.0668 R2-1.0721, S2- 1.0652 R3- 1.0755, S3- 1.0618 * Needs to move though 1.0668 and pivot to target 1.0703 and 1.07045. * Return to 1.07 Level will give a bullish signal * Failure to move through S1 and Pivot can bring it down to 1.0652 * Levels below 1.06 shall be avoided to avoid major sell off * 1.0618 level shall limit the sell off * A move through 1.0668 would support the breakthrough from 1.0703 and 1.07057 and can give a bull run to 1.0721 and 1.07305 * Failure to move through 1.07057 can bring it down to the support levels. IF YOU LIKE OUR WORK PLEASE SUPPORT US WITH LIKES AND FOLLOW. THANKS
Long
by skarantraderq
EURUSD rebound appears shallow ahead of important EU, US dataBe it sustained trading below the 3.5-month-old ascending trend line or the bearish MACD signals and downbeat RSI (14), not oversold, the EURUSD pair has it all to lure bears as first readings of Eurozone Q4 GDP and US CPI for January loom. Even so, the pair’s latest run-up beyond the 50-DMA hurdle seems to challenge the bears. That said, the quote’s fresh selling should wait for a clear downside break of the 50-DMA support of 1.0700 to aim for the 38.2% Fibonacci retracement of November 2022 to February 2023 upside, near 1.0530. However, the previous monthly low near 1.0400 and the 100-DMA level surrounding 1.0370 could act as the last defense of the bears afterward. Alternatively, the late 2022 peak around 1.0740 and the support-turned-resistance line from November, close to 1.0950, could probe the EURUSD buyers in case the data favors Euro buyers and the US Dollar sellers. It’s worth observing that the 1.1000 round figure and the current monthly high of 1.1033 are likely to act as additional upside filters during the pair’s run-up beyond 1.0950. Overall, EURUSD is on the bear’s radar as traders await important catalysts. It should be observed, however, that the volatility around the scheduled events is likely to be high and hence traders should wait for markets to stabilize after the data before taking any major positions.
by MTradingGlobal
EURUSD sellers need to conquer 1.0670 to retake controlEURUSD fades bounce off the 10-week-old ascending support line as the weekly resistance line and the 200-SMA challenge buyers. Adding strength to the downside bias are the bearish MACD signals and downbeat RSI (14). As a result, the quote is likely to return to the bear’s table after a four-month absence. That said, a downside break of the stated support line, close to 1.0670, could act as a trigger for the downside targeting the previous monthly low surrounding 1.0480. It’s worth noting that the 61.8% and 78.6% Fibonacci retracement of the pair’s November late November 2022 to early February peak, respectively near 1.0570 and 1.0450, could act as extra downside filters to watch before targeting the late November swing low of 1.0290. Meanwhile, recovery moves need validation from the 200-SMA, around 1.0765 at the latest. Following that, the EURUSD pair’s run-up towards 1.0800 and then to 1.0930 can’t be ruled. In a case where the prices remain firmer past 1.0930, the 1.1000 psychological magnet and the monthly high of 1.1033 should gain the market’s attention. It should be observed that the rally beyond 1.1033 enables bulls to aim for a March 2022 peak of 1.1185. To sum up, EURUSD buyers appear running out of steam but the bears must conquer the multi-day-old support line to return to the driver’s seat.
by MTradingGlobal
Technical Analysis: EURUSD buyers need ECB’s support to keep conEURUSD remains above the top line of a three-month-long bullish after the Fed-inspired volatility. The nearly overbought RSI (14), however, suggests that the bulls are running out of steam of late. That said, the 100.0% Fibonacci Expansion (FE) of the pair’s moves between November 11, 2022, and January 06, 2023, close to 1.1045, appears immediate hurdle for the bulls to cross to keep the reins. Following that, a run-up toward the late March 2022 high near 1.1185 can’t be ruled out. It should be noted that the 1.1100 round figure may offer an intermediate halt during the likely run-up. It should be noted, however, that the quote’s pullback moves remain elusive unless EURUSD remains beyond the stated channel’s top-line, close to 1.0970. Following that, 78.6% and 61.8% FE levels, respectively near 1.0930 and 1.0830 will precede the 21-EMA surrounding 1.0800 to restrict the short-term downside of the pair. Also acting as nearby key support is an upward-sloping trend line from early November 2022, around 1.0780 at the latest. In a case where the pair breaks the stated trend line support, its drop to the aforementioned bullish channel’s lower line and then to January’s low, respectively near 1.0610 and 1.0480, becomes imminent. Though, the bears are less likely to have a smooth road unless breaking the 1.0480 level. To conclude, the EURUSD stays firmer ahead of the European Central Bank (ECB) announcements but the upside seems losing momentum and hence a pullback could be witnessed if the ECB disappoints Euro bulls. Even so, the trend reversal is far from sight.
by MTradingGlobal
EURUSD - 1H PROJECTIONDISCLAIMER: The Company accepts no accountability or obligation for your trading and speculation results, and you consent to hold the Company innocuous for any such outcomes or misfortunes. We are not financial advisers or account managers; We are Forex traders. The recordings on this channel are rigorously for educational and amusement purposes. Trading Forex implies dangers, and you can lose all your venture ; consequently, you exclusively must take a chance.
Short
by Azif123
EURUSD High Low Levels Channel BreakoutEUR/USD Weekly Forecast: A test of 1.1000 remains on the cards in key central bank week Hawkish comments from ECB officials allowed EUR/USD to gain traction and touch its highest level in nine months near 1.0930. ECB policymakers Klaas Knot and Peter Kazimir both said that they were in favour of two more 50 basis points (bps) rate hikes in February and March. On the same note, "We have made it clear that ECB interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive and stay at those levels for as long as necessary," ECB President Christine Lagarde reiterated while speaking at a conference in Germany on Monday. On Tuesday, the data from the Eurozone showed that the business activity in the Eurozone expanded modestly in early January, with S&P Global Composite PMI edging higher to 50.2 from 49.3 in December. Later in the day, S&P Global reported that Composite PMI in the US edged higher in the same period but remained well below 50, coming in at 46.6. Commenting on the data, "the rate of input cost inflation has accelerated into the new year, linked in part to upward wage pressures, which could encourage a further aggressive tightening of Fed policy despite rising recession risks," noted Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. This comment helped the US Dollar limit its losses and capped EUR/USD's upside.
by vishalfxfx
EURUSD eases inside two-month-old bullish channelBetter-than-expected US growth numbers triggered the much-awaited pullback in the EURUSD prices from the eight-month high. The retreat, however, stays inside a two-month-long ascending trend channel, which in turn suggests less incentive for the bears. Even so, the previous weekly low surrounding 1.0765 and December’s peak of 1.0736 could lure short-term sellers. Following that, an upward-sloping support line from early November, close to 1.0730 might probe the further downside. It’s worth noting that the quote’s weakness past 1.0730 could make it vulnerable to testing the 1.0610-600 support confluence comprising the 50-DMA and lower line of the stated bullish chart formation. In a case where the pair stays weaker past 1.0600, the bears could have an easy battle to retake control. Meanwhile, EURUSD buyers could drill the aforementioned channel’s top line, around 1.0950 by the press time, during the fresh advances. Following that, the 1.1000 round figure could probe the upside momentum. It’s worth observing that the tops marked during March 2022 around 1.1140 and 1.1185 appear the easy reach for the pair bulls in case of its successful trade beyond 1.1000 psychological magnet. Overall, EURUSD bulls aren’t off the table but are tired enough to trigger a pullback.
by MTradingGlobal