Eurusd-3
EURUSD juggles near six-month high ahead of Fed meetingDownbeat US inflation data propelled the EURUSD pair to the highest levels since June on Tuesday. However, the upper line of the one-month-old bullish channel, currently around 1.0670, probed the pair buyers at the multi-day top. Also challenging the Euro bulls is the overbought RSI conditions suggesting a pullback in prices. As a result, an upward-sloping trend line from the December start, close to 1.0520 at the latest, can’t be ruled out. However, 100-SMA and the bottom of the stated channel, respectively near 1.0450 and 1.0400, could challenge the pair sellers afterward. In a case where the Fed sounds too hawkish and the pair defies the bullish chart pattern, a slump towards the 200-SMA and then to the late October swing high, near 1.0275 and 1.0090 in that order, can’t be ruled out.
Meanwhile, successful trading beyond the immediate hurdle, namely the aforementioned channel’s top near 1.0670, could get another chance to retreat near the 1.0700 threshold due to the consistently overbought RSI. In a case where EURUSD bulls ignore RSI and cross the 1.0700 resistance, May’s peak near 1.0785 and March’s low surrounding 1.0805 could act as the last defenses of the pair sellers. That said, the pair’s sustained trading beyond 1.0800 may target a late April high near 1.0935 and the 1.1000 round figure.
Overall, EURUSD bulls are likely to occupy the driver’s seat unless the US Federal Reserve appears too hawkish, which is less anticipated.
EURUSD Pivot Support@ S1=1.0493 , PP=1.0541Euro eyes fresh multi-month highs
EUR/USD has continued to push higher toward 1.0600 early Friday after having registered its highest daily close since late June at 1.0555 on Thursday. The near-term technical outlook shows that the bullish bias stays intact despite the modest pullback witnessed in the early European morning.
EURUSD grinds higher inside three-week-old bullish channelEURUSD is likely to end the two-week-old winning streak as traders brace for key consumer-centric data from the US. However, an ascending trend channel from November 15 portrays the short-term bullish bias of traders. That said, the monthly high surrounding 1.0600 and the stated channel’s top near 1.0620 limits the quote’s immediate advances. In a case where the pair defies the bullish chart pattern by crossing the 1.0620 hurdle, the upward trajectory could aim for May’s high near 1.0785.
On the downside, the 100-SMA level of 1.0400 restricts the nearby downside of the major currency pair, a break of which will highlight the channel’s support line surrounding 1.0380. Should the EURUSD bears manage to conquer the 1.0380 support, the odds of witnessing a slump toward the 200-SMA level near 1.0200 can’t be ruled out. However, tops marked during late October and early November close to 1.0100-0090 offer a strong support zone to the sellers.
Overall, EURUSD remains firmer inside the bullish chart formation but the upside room appears to be limited.
#EURUSD it's possible to buy#EURUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
0.095200
Next Zone area & horizontal swing Low support
1st Resistance
1.07617
Zone area & horizontal swing high resistance
EURNZD BUY IDEA LONG TERMEURNZD may have another risk of 200pips before its pump up to 1600pips.
the ECB may continue to hawkishly monitor the economical factors within the Euro Area even thou recession fear on focus, the Reserve Bank of New Zealand may pause hiking rates coming months which will give EUR more advantage ahead of 2023.
#EURUSD it's possible to buy#EURUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
0.095200
Next Zone area & horizontal swing Low support
1st Resistance
1.07617
Zone area & horizontal swing high resistance