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Eurusd-4

EURUSD: stuck in a downtrendHello dear friends, let's discuss the previous week's performance of EURUSD with RKarina and talk about strategies for the upcoming week! Last week, EURUSD was trapped in a downward trend, closing below the support level of 1.090 and currently trading around 1.089. As a result, there was a slight price recovery during the correction, but it is expected to encounter resistance at the Fibonacci retracement levels of 0.5 - 0.618. The possibility of further price decline for this currency pair remains high as it is still in a long-term downtrend, with a short-term target of 1.078.
Short
by RKarina
1
EURUSD: buy or sell?Hello dear friends, are you curious about the trend of EURUSD? Today, EURUSD continues to fluctuate below the resistance level of 1.0900 and still maintains its short-term upward momentum on the 1H chart. However, when looking at the overall trend, this currency pair is still moving sideways within the price range below the resistance level of 1.090 and the support level of 1.084. The USD index (DXY) is still maintaining its upward trend and is further supported by comments from R. Bostic (Atlanta), which continue to put pressure on the EURUSD pair. Another evidence for this downward price movement is that it continues to trade below the exponential moving averages (EMA) 34 and 89. Karina still highly regards the Sell strategy today with the idea of trading the double top pattern displayed on the analysis chart.
Short
by RKarina
EURUSD: Price increasing but ambiguousIt's great to see you again and talk about the EURUSD price today! Yesterday, the EURUSD received some upward momentum. However, this price increase is considered only as a correction within the downtrend wave of DOW, as this pair has been experiencing weakness since the beginning of the new week. Accordingly, the hawkish stance of the ECB has pushed back expectations of an early interest rate cut, providing additional support for the currency pair. However, the 4-hour chart is currently showing a further downward trend in the very near future as the EURUSD approaches the Fibonacci retracement levels of 0.618 - 0.5. Breaking below the level of 1.0844 will not receive significant support until reaching the level of 1.0773.
by RKarina
EURUSD rebound needs validation from 1.0940 to convince bullsEURUSD extends recovery from a five-week low while defending the previous day’s bounce off a one-month-old falling wedge’s bottom line. The Euro pair’s recovery also traces the RSI (14) line, as well as justifies the impending bull cross on the MACD indicator, which in turn suggests further advances of the major currency pair. However, the 200-SMA hurdle surrounding 1.0920 guards the immediate upside of the quote. Following that, an ascending resistance line stretched from early November, previous support near 1.0940, will join the top line of an aforementioned bullish chart pattern, namely the falling wedge, to challenge the buyers. In a case where the pair remains firmer past 1.0940, the 1.1010-15 region and the previous monthly high of near 1.1140 could act as intermediate halts during the run-up towards the theoretical target of the falling wedge, close to 1.1240 On the flip side, EURUSD sellers remain off the table unless they witness a clear rejection of the falling wedge chart pattern, via a downside break of the stated formation’s bottom line surrounding 1.0840. In that case, the early November swing high and the previous monthly low, respectively near 1.0755 and 1.0720, will lure the Euro bears. It should be noted that the quote’ sustained weakness past 1.0720 will make it vulnerable to slump toward October 2023 bottom near 1.0450. To sum up, EURUSD pares recent losses but the bulls are far from taking control.
by MTradingGlobal
EURUSD: buy or sellWhat are your thoughts on EURUSD as the market experiences a significant week with many enticing fluctuations? Today, we witnessed EURUSD succumbing to the downward trend, aligning with our prediction from yesterday. This currency pair is under pressure as the USD begins to regain strength, heavily impacting these major currencies. On the analysis chart, EURUSD has surpassed the Trend Line and dropped below the psychological support level of 1.090. The 4-hour chart indicates that this downward trend may continue soon. By violating the level of 1.0861, we may not encounter any significant support until reaching 1.078
Short
by RKarina
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