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Eurusd-3

EURUSD teases bears ahead of US ADP Employment dataEURUSD fades three-week-old recovery as it remains below a downward sloping trend line from early February, around 1.0745 by the press time. Also keeping sellers hopeful is the RSI retreat and a downside break of the 1.0690 support-turned-resistance confluence, comprising an ascending support line from May 13 and 10-DMA. That said, the bears seem approaching 23.6% Fibonacci retracement (Fibo.) of the February-May downturn, around 1.0620, becomes imminent. In a case where the pair remains pressured below 1.0620, monthly horizontal support close to 1.0470-60 appears the last defense of sellers. On the contrary, a successful break of the multi-day-old resistance line, near 1.0745, becomes necessary to recall buyers. Even so, a validation from the 38.2% Fibo. level surrounding 1.0785, as well as March’s low of 1.0805, becomes necessary to convince EURUSD bulls. However, the pair’s run-up beyond 1.0805 won’t hesitate to challenge the late April swing high around 1.0935. Overall, EURUSD bulls seem running out of steam but the bears need clear signals and are challenged by the US data’s presence as well.
Short
by MTradingGlobal
EURUSD stays bullish above 1.0640 support, US PCE Inflation eyedEURUSD remains firmer inside a fortnight old bullish channel ahead of the Fed’s preferred gauge of inflation, also staying beyond the key SMAs. Currently, the channel’s upper line surrounding 1.0800 lures the pair buyers, a break of which will direct them towards the 78.6% Fibonacci retracement (Fibo.) of April 21 to May 13 fall, near 1.0820. It’s worth noting that the RSI is speedily approaching the overbought territory and hence the run-up beyond 1.0820 appears difficult. However, a successful rise past 1.0820 won’t hesitate to challenge the latest peak close to 1.0935 with eyes on the 1.1000 psychological magnet. Meanwhile, pullback moves remain elusive unless breaking the 1.0640 support confluence, including 200-SMA and support line of the stated channel, also comprising the early May swing high. In a case where EURUSD drops below 1.0640, the 100-SMA level near 1.0550 will test the pair sellers, a break of which will allow them to revisit the monthly low of 1.0348. To sum up, EURUSD remains on the bull’s radar ahead of the key inflation data but the upside room is limited and hence buyers need strong numbers to dominate further.
by MTradingGlobal
💡Don't miss the great buy opportunity in EURUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.0605). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . EURUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 56. Take Profits: TP1= @ 1.0700 TP2= @ 1.0760 TP3= @ 1.0811 TP4= @ 1.0850 TP5= @ 1.0894 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
8
EURUSD stays on the bull’s radar despite recent pullbackEURUSD consolidates the biggest daily gains in nearly three months around a fortnight top during Tuesday. In doing so, the major currency pair retreats from a weekly ascending trend channel’s resistance line amid an overbought RSI. However, the quote remains beyond the 200-SMA and previous resistance line from late March, respectively around 1.0650 and the 1.0560. Adding strength to the 1.0560 support is the lower line of the aforementioned channel. It’s worth noting that the 100-SMA level of 1.0525 and April’s low of 1.0470 also challenge the pair’s weakness past 1.0560. On the flip side, a fresh run-up will aim for another battle with the stated channel’s resistance line, near 1.0710 at the latest. Also acting as the key upside hurdle is the 50% Fibonacci retracement of the March-May downside, close to 1.0765. In a case where EURUSD rises past 1.0765, the bulls can aim for late April’s swing high surrounding 1.0935. Overall, EURUSD bears need to stay cautious before taking any major positions as the quote is yet to defy the previous breakouts.
by MTradingGlobal
EURUSD Trading Plan - 19/May/2022Hello Traders, Hope you all are doing good!! I expect EURUSD to go down after this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper
UPCOMING #EURUSD CONSIDERABLE MOVEAmid possible crisis upheld dollar is supposed to weaken further, from a fundamental point of view. my research shows the selling pattern that formed from April considering the double top formation that triggered the huge selling orders continuing to the next 2 months, as in these 2 months the news releases indicate the further sale and the same pattern has been followed hence now, looking closely for this week, from next week will be taking positions on a shorter time frame to get a perfect entry to leverage the profits to a greater extent... DISCLAIMER - I AM NOT A REGISTERED ANALYST, THE VIEWS POSTED ARE ONLY TO SHOW MY PERSPECTIVE ON THE CURRENT MARKET MOVEMENTS THAT MAY HAPPEN. TRADE AT YOUR OWN RISK
Short
by krishbis3181
EURUSD bears dominate ahead of EU GDP, US Retail SalesEURUSD portrays a bearish consolidation inside a seven-week-old descending trend channel ahead of the key Eurozone GDP for Q1 2022, the US Retail Sales for April and a speech from Fed Chairman Jerome Powell. Although oversold RSI conditions challenge the pair’s further downside, a convergence of the stated channel’s resistance line and the 10-SMA, around 1.0500, appears a tough nut to crack for the buyers. Even if the quote rises past 1.0500, the monthly high surrounding 1.0640 and March’s low of 1.0805 will challenge the upside momentum before welcoming the buyers. On the contrary, lows marked since 2017, around 1.0350-40, restrict the short-term downside of the EURUSD. Following that, a downward trajectory towards the 1.0300 threshold becomes imminent. However, a convergence of the aforementioned channel’s lower line and downward sloping trend line from late January, close to 1.0220-10, could gain the market’s attention before the 1.0200 round figure. It’s worth noting that the pair’s south-run past 1.0200 seems a slow grind towards the 1.0000 psychological magnet. Overall, the EURUSD pair’s downside has recently stalled but the trend remains bearish.
by MTradingGlobal
EURUSD’s bear flag hints at further fall in pricesAlthough the weekly channel restricts EURUSD moves while other major currency pairs portray heavy selling against the USD, the bearish flag formation joins downbeat MACD and RSI signals to keep sellers hopeful. Additionally favoring the pair bears is the sustained trading below a descending trend line from March, as well as the 200-SMA and a six-week-old horizontal resistance. However, the south-run needs a trigger and 1.0500 is the same to activate a theoretical slump targeting the 1.0000 psychological magnet. Though, lows marked during 2017 and mid-1999, respectively around 1.0340 and 1.0100, may act as intermediate halts during the anticipated fall. Alternatively, the upper line of mentioned flag, around 1.0650, acts as an immediate upside barrier during the corrective pullback. Following that, the previously stated descending resistance line and the 200-SMA, near 1.0730 and 1.0810 in that order, will act as additional barriers for the EURUSD bulls. It’s worth noting that the pair bears remain hopeful until the quote rallies beyond the multi-day-old horizontal hurdle surrounding 1.0950. To sum up, the EURUSD pair’s hesitance in declining isn’t an early sign of recovery in prices.
Short
by MTradingGlobal
EURUSD rebound appears overdue ahead of Fed’s showdownEURUSD holds onto the one-week-old sideways grind ahead of the key Federal Open Market Committee (FOMC). As a 0.50% rate hike is well-known, as well as priced-in, the Fed will have to supersede market expectations to stay ahead of the curve and keep US dollar on the throne. In that case, the 100% Fibonacci Expansion (FE) of February-March, around 1.0485, holds the key to the south-run targeting the 2017’s yearly bottom surrounding 1.0340. However, the 1.0400 threshold will act as an intermediate halt while portraying the Fed’s superpower action. In a case where the US central banker chose to disappoint markets, by either meeting expectations of a 0.50% rate lift or resisting faster consolidation of policy, the EURUSD pair could witness the much-awaited rebound, as signalled by the oversold RSI line. The following recovery could quickly bounce back beyond the previous support line, around 1.0580, before challenging the 78.6% FE level surrounding 1.0630-35. During the quote’s run-up beyond 1.0635, the 1.0760 level comprising the 61.8% FE acts as the last defence for the buyers. Overall, EURUSD prices have witnessed notable downside in anticipation of the Fed’s larger-than-life move but an actual outcome will be crucial for the next moves.
Long
by MTradingGlobal