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Eurusd-4

EURUSD: Buy or sell?Hello everyone, what are your thoughts on EURUSD today? Currently, EURUSD is still in a downtrend after forming a double top pattern and starting to decline further with a reversal signal from the EMA 34. Market risk concerns have pulled down risk assets like the Euro in the context of escalating tensions in the Red Sea. Our priority target is to SELL because the main trend is still bearish and trading with the trend is always an effective and safe trading approach
Short
by RKarina
2
GBPUSD: directly facing the resistance level of 1.2800Dear friends, Overall, GBPUSD had a successful week as the price continued to rise without any significant breakthroughs. The currency pair remained supported as the USD struggled to recover. In terms of long-term trends, this currency pair is currently facing resistance at 1.2800. However, the upward trend is still supported by positive signals from the 34 and 89 EMA lines. On the other hand, the RSI indicates that buyers are no longer eager to break through this resistance level. Therefore, our upcoming target is to sell when the price breaks the trendline.
by RKarina
EURUSD bulls remain unconvinced despite recent reboundEURUSD remains mildly bid within a 10-week-old bullish channel as market players seek more clues to justify the previous day’s strong US inflation report, as well as comforting comments from ECB President Christine Lagarde. That said, the 21-SMA and Thursday’s Doji prods the Euro bulls amid bearish MACD signals. Even if the pair buyers manage to cross the 1.0985 immediate SMA hurdle, November’s peak of around 1.1020 and the previous monthly high surrounding 1.1140 will test the upside momentum. Following that, the aforementioned channel’s top line, close to 1.1220 at the latest, will act as a tough nut to crack for the buyers. Alternatively, the EURUSD pullback needs to defy the bullish channel formation by slipping beneath the 1.0910 support to convince sellers. Even so, the 200-SMA support of 1.0845 can challenge the Euro bears before giving them control. In that case, December’s bottom of 1.0723 and October’s peak of near 1.0700 will be the final defenses of the buyers ahead of directing prices toward the yearly low marked in October around 1.0450. Overall, EURUSD manages to consolidate the previous weekly loss and defends the bullish chart formation but the recovery appears fishy and hence needs confirmation from 21-SMA.
by MTradingGlobal
EURUSD: increasing rapidlyToday, the EURUSD currency pair is showing a good recovery momentum. This recovery is supported by the weaker US dollar. The 4-hour chart continues to indicate some short-term consolidation as the pair successfully breaks through the resistance level at 1.096, with a reversal signal from the 34 EMA line. It is expected that after a retracement and testing the breakout level, EURUSD will utilize this newly established support level to reach its price target of 1.099 and potentially even 1.106.
Long
by RKarina
EURUSD: Sell on price breakout after news?Dear friends, Currently, EURUSD is experiencing minimal volatility and remains relatively stable around the 1.093 level. This is confirmed by the narrowing of the Bollinger Band indicator, indicating a preparation for the next breakthrough. Speaking of breakthroughs, EURUSD is being constrained below the resistance level of 1.096 and finding support at 1.090. The market is currently focused on the latest consumer inflation data from the United States, which will be released on Thursday, to gain significant directional momentum. After the news is announced, this currency pair may experience a breakthrough in two scenarios as mentioned: an increase upon breaking the resistance level and a decrease if the bearish side breaks the support. On a personal note, I am expecting a decrease in EURUSD. What about you? Please leave your comments below!
Short
by RKarina
EURUSD: Quiet tradingHow do you assess EURUSD? Today, EURUSD is still in a downtrend with sideways movement and is limited below the resistance level of 1.097. Currently, this currency pair is fluctuating around 1.093 and is expected to decrease further due to the increase in US Treasury bond yields, which has been supportive of the US Dollar (USD). The EMA 34 line on short-term timeframes and convergence on the 4-hour chart continue to reinforce the bearish outlook. What about you? Do you think EURUSD will rise or fall in the near future?
by RKarina
EURUSD: bearishDear friends, as predicted by me yesterday, EURUSD has corrected to a previously broken level Looking at the overall market today, we can observe: The EUR/USD pair is trading positively for the second consecutive day on Friday, despite lacking monitoring and still being limited within a wider trading range than the previous day in the Asian trading session. The spot price is currently fluctuating around 1.0900 as traders eagerly await significant macroeconomic data from the Eurozone and the United States (US) to provide some meaningful momentum. In my personal opinion, I believe that the price will adjust downward due to the unfavorable factor of the underlying USD strengthening in the near future, with an expected decrease of 1.0750.
Short
by RKarina
EURUSD licks its wounds at fortnight-low ahead of Fed MinutesEURUSD dropped the most in three weeks on Tuesday after a downside break of an ascending trend line from mid-November and the 50-SMA. Adding strength to the downside bias are the bearish MACD signals. However, the nearly oversold RSI (14) line joins the 100-SMA support of 1.0935 to restrict short-term declines of the Euro pair. Even if the pair slides beneath 1.0935, the bottom line of a two-month-long bullish channel, close to 1.0840 at the latest, acts as the last defense of the pair buyers. Following that, the bears will be able to aim for the previous monthly low surrounding 1.0725. Meanwhile, the EURUSD pair’s recovery hinges on the quote’s ability to stay beyond the 1.1020-25 resistance confluence comprising the 50-SMA and previous support line stretched from December 18. In a case where the Euro bulls keep the reins past 1.1025, the previous monthly high near 1.1140 and the aforementioned channel’s top line, around 1.1160 by the press time, will gain the market’s attention ahead of the year 2023 peak surrounding 1.1275. Overall, the EURUSD pair is likely to recover unless the Fed Minutes bolster the US Dollar strength, which is least expected. It’s worth noting, however, that the upside room appears limited.
by MTradingGlobal
EURUSD justifies key resistance break at multi-day topEURUSD remains firmer at the highest level since late July while justifying the previous day’s upside break of a four-month-long previous key resistance line, now support around 1.1040. Adding strength to the upside bias are the bullish MACD signals and broad fundamental weakness of the US Dollar, especially amid the Fed rate cut concerns. The same suggests the quote’s further advances toward the late July swing high surrounding 1.1150 and then to 1.1200. It’s worth noting, however, that the overbought RSI (14) line and an upward-sloping trend line stretched from early February, close to 1.1260 by the press time, could challenge the Euro pair buyers afterward. In a case where the quote remains firmer past 1.1260, the odds of witnessing a fresh yearly high, currently around 1.1275-80, can’t be ruled out. On the contrary, the 78.6% Fibonacci retracement of the July-October downside near 1.1100 puts a floor under the EURUSD prices ahead of the resistance-turned-support line of around 1.1040. Following that, the 61.8% Fibonacci ratio and the late August peak, respectively near 1.0960 and 1.0945, will test the bears before giving them control. However, the pair buyers remain hopeful unless they witness a daily closing beneath the 1.0840 support confluence comprising the 200-SMA and an ascending trend line from early November. Overall, the EURUSD buyers are likely to keep the reins even if the upside room appears limited.
by MTradingGlobal
EURUSD AnalysisFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
EURUSD gyrates within bullish pennantEURUSD seesaws within a week-long bullish pennant formation, bracing for the second weekly gain, as markets await this week’s key US data. Not only the bullish pennant but the bullish crossover of the 50-SMA to the 100-SMA also keeps the Euro buyers hopeful. It’s worth noting, however, that the RSI and MACD fail to inspire the pair bulls. As a result, a fresh long position can wait until the quote confirms the bullish chart pattern by crossing the 1.0980 immediate hurdle. To make matters more clear, in case of big positions, the buyers should seek the pair’s successful trading beyond the 1.1010-20 resistance area. Following that, a run-up toward 1.1100 will be imminent before highlighting the yearly peak of 1.1275 for the bulls. Meanwhile, the EURUSD pair’s downside break of 1.0920 support will defy the bullish pennant and can drag the prices toward the 50-SMA and the 100-SMA, respectively near 1.0880 and 1.0870. However, an upward-sloping support line from early November, close to 1.0800 by the press time, will be a crucial support to watch for defending the bulls, a break of which will give control to the bears targeting the monthly low of 1.0723 and early November bottom surrounding 1.0650. Overall, the EURUSD remains on the buyer’s radar despite the recent inaction.
by MTradingGlobal
EURUSD bulls approach 1.0970 hurdle ahead of ECBEURUSD prints a four-day winning streak while refreshing the monthly high around 1.0915 as traders await the European Central Bank’s (ECB) monetary policy announcements on early Thursday. The Euro pair’s latest recovery takes clues from the US Federal Reserve’s (Fed) dovish halt, as well as the upbeat RSI and MACD signals. Adding strength to the upside bias is the quote’s successful trading beyond the 100-SMA. With this, the major currency pair is likely to extend the previous week’s recovery toward the 1.0970 resistance confluence comprising a downward-sloping resistance line from July and a 61.8% Fibonacci retracement of July-October fall. Apart from the 1.0970, the 1.1000 psychological magnet and the previous monthly high of around 1.1020 also act as additional upside filters, a break of which will allow the bulls to challenge the yearly peak of 1.1275 marked in July. On the flip side, the 50% and 38.2% Fibonacci ratios, surrounding 1.0865 and 1.0760 respectively, restrict the immediate downside of the EURUSD pair. Following that, the 100-SMA and the 50-SMA will challenge the Euro bears near 1.0750 and 1.0730 in that order. It’s worth noting, however, that a horizontal area comprising multiple levels marked since late May, close to 1.0670, appears a tough nut to crack for the pair sellers to break afterward. Overall, the EURUSD pair appears all set to poke the 1.0970 hurdle but the quote’s further upside hinges on the ECB’s hawkish move, which is less likely to happen.
by MTradingGlobal