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Eurusd-3

EURUSD bulls need 1.1840 breakout to prosperDespite staying beyond 200-EMA so far in September, EURUSD gains have recently been challenged by a one-week-old descending trend line near 1.1840. Considering the firmer RSI and receding bearish bias of MACD, the upside momentum has brighter chances to accelerate towards the monthly high, also the double-top, surrounding 1.1910. However, 1.1855 may offer an intermediate halt during the rise. Should the pair manages to cross the 1.1910 hurdle, it becomes capable to revisit the early June lows near 1.2100. Meanwhile, a downside break of the 200-EMA level surrounding 1.1810 has an extra filter to the south, namely the August 13 peak close to the 1.1800 round figure. Also acting as short-term supports are 50% and 61.8% Fibonacci retracement level of August-September upside, respectively around 1.1785 and 1.1755. Given the EURUSD bear’s dominance past 1.1755, the early August low near 1.1700 will act as a buffer during the fall to the yearly low close to 1.1665-60.
Long
by MTradingGlobal
EURUSD eases from key hurdle but bulls stay hopeful ahead of ECBEURUSD consolidates recent gains around the five-week top, snapping a six-day uptrend, during a sluggish start to the week. The pair jumped to the highest since late July the previous day but reversed from the 1.1908-10 horizontal resistance. Also challenging the pair buyers was a confluence of 100-day and 200-day SMA around 1.1885-90. Given the RSI conditions, near the overbought area, the latest pullback from the key resistances may extend towards an ascending support line from August 20, near 1.1820. However, any further weakness won’t hesitate to direct the pair sellers towards July lows near 1.1750, before highlighting the August 11 swing trough around 1.1705 and the yearly bottom of 1.1663. Meanwhile, a daily closing beyond the stated EMA convergence near 1.1890 will have to cross the 1.1910 hurdle to keep pampering the EURUSD bulls. Following that, late June tops near 1.1975 should and the 1.2000 threshold may entertain the pair buyers. In a case where the pair buyers ignore overbought RSI conditions after crossing the 1.2000 round figure, the 61.8% Fibonacci retracement of May-August downside, near 1.2035 will gain the market’s attention. Overall, the ECB’s likely reduction in the weekly bond purchase is the key catalyst for the near-term EURUSD moves.
Long
by MTradingGlobal
EURUSD eases after falling wedge bullish pattern confirmationAlthough risk-off mood probe EURUSD buyers, a clear break of the short-term falling wedge resistance keep them hopeful ahead of the ECB Minutes and Jackson Hole Symposium speeches. It’s worth noting that bullish MACD signals and firmer RSI adds strength to the upside momentum that initially aims 200-SMA level surrounding 1.1785–90. Following that, the mid-August high around 1.1805 and 1.1830 may challenge the optimists before directing them to the monthly peak of 1.1908. Alternatively, multiple supports around 1.1725 can entertain short-term sellers during the pullback moves. However, the further downside will be challenged by the previous resistance line near 1.1690. Should EURUSD bears keep reins below 1.1690, the monthly low of 1.1665 will act as a buffer during the fall to the November 2020 lows surrounding 1.1600. overall, sour sentiment probes the pair’s rebound ahead of crucial events.
Long
by MTradingGlobal
EURUSD forecast / trades takenHey everyone. Just an update on the trade last night. As you can see we had a HTF buy range (1hr) where price came back into the discounted section. We then had a 30min range bar mitigation which created a large reaction to the upside so we can say this is where a money transfer has taken place. Subsequently this made our new buying range and yet again price came back into the discounted area and gave the lower time frame entry, there were a few ways of getting into this trade and it also gave scale ins if it was missed. Price then was heading into the daily premium region so we knew we needed to be partialing out of this trade as we pass through and mitigate the levels of supply, these supply levels were creating pullbacks to continue up however given the HTF area we are it is very wise to partial heavily where we did. Anyone everyone, theres a bit of an insight into one of the team trades last night in the Newyork session. Happy trading ladies and gents and i hope you learnt something.
by Bill-from-The-trading-Cartel