Eurusd-4
EURUSD braces for fresh yearly low ahead of key events/dataEURUSD bears take a rest around the two-week-old horizontal support area while waiting for this week’s key catalysts, namely FOMC Meeting Minutes and US CPI. That said, sluggish RSI and bearish MACD signals join the quote’s sustained trading below the 50-SMA to keep sellers hopeful. However, a clear downside break of the 0.9665-50 region appears necessary for the fresh leg down. Following that, the latest multi-year low, marked in September around 0.9535, will gain the attention ahead of the 61.8% Fibonacci Expansion (FE) of August-October moves, close to 0.9485. In a case where the pair remains weak past 0.9485, the odds of witnessing a slump toward the September 2001 high near 0.9330 can’t be ruled out.
Alternatively, recovery moves need to cross the 50-SMA level of 0.9800 for the start. Following that, the 50% Fibonacci retracement of the August-September downside and the monthly high, respectively around 0.9950 and the 1.0000 psychological magnet should lure the EURUSD buyers. If the quote remains firmer past 1.0000, a two-month-old downward sloping resistance line, around 1.0025 by the press time appears the last defense of the bears.
To sum up, EURUSD appears bearish ahead of this week’s important data/events.
EURUSD Daily Support @ 0.9727 , Break Below SellEUR/USD rebounds toward 0.9800 after NFP-inspired drop
EUR/USD has gathered recovery momentum and advanced toward 0.9800 after having declined sharply in the early American session with the initial reaction to the US jobs report. In September, Nonfarm Payrolls rose by 263,000, surpassing the market expectation of 250,000.
EURUSD rebound is at test near 0.9830 resistanceEURUSD defends the first weekly gain in three around the 20-year low during early Monday. The recovery also gains support from the RSI and the MACD. However, an downward sloping resistance line from September 12, around 0.9830 by the press time, challenges the immediate upside moves. In a case where the quote rises past 0.9830, the 200-SMA and the 61.8% Fibonacci retracement level of the pair’s August-September downturn, respectively near 0.9950 and 1.0050, could challenge the bulls. It’s worth noting that a two-month-old downward sloping trend line around 1.0090, quickly followed by the 1.0100 threshold, appears the defense of the pair sellers.
Alternatively, the 50-SMA and the 23.6% Fibonacci retracement level, close to 0.9740 and 0.9730 in that order, could test the EURUSD pair’s pullback. Following that, the 0.9640 and the 0.9580 levels might poke the bears before giving them control. In that case, the latest trough surrounding 0.9540 should act as a buffer before highlighting the September 2001 peak near 0.9330.
Overall, the EURUSD rebound is likely to extend for a while as traders await the key data from the US. However, the bearish trend isn’t challenged yet.
#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
0.098545
Zone area & horizontal swing high resistance
#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
0.098545
Zone area & horizontal swing high resistance
EURUSD eyes further downside below parityAlthough June 1989’s low test EUR/USD bears, a clear downside break of the 2.5-month-old support line, now resistance around 0.9850, keeps sellers hopeful at the lowest levels in 20 years. Even so, the major currency pair stays inside a bearish channel formation established on May 12 and has its support line located around 0.9490 by the press time. Additionally, the January 2001 low of around 0.9600 could join the oversold RSI conditions to challenge the short-term downside.
Meanwhile, recovery remains elusive until the quote stays successfully beyond the 10-week-old support-turned-resistance line around 0.9850. Following that, the 0.9950 and the 1.000 parity level could entertain short-term buyers. However, a convergence of the 50-DMA and upper line of the stated channel, close to 1.0080, appears a tough nut to crack for the EURUSD bulls before they can dream of retaking control.
It’s worth noting that the Italian elections and multiple speeches from ECB President Christine Lagarde, as well as Fed Chairman Jerome Powell, make it an interesting pair to watch on Friday.
EURUSD Fibo Support 3.61% @ 0.9573 - ABCD Pattern EUR/USD downtrend deepens on mounting recession
EUR/USD kick-started a new round of declines as flash PMIs figures across Europe pointed at a further fall in business activities with both the EU services and manufacturing PMIs edging lower in the contraction area weaker than expected.
#EURUSD it's possible to sell#EURUSD for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
0.09635
Next Zone area & horizontal swing Low support
1st Resistance
1.00689
Zone area & horizontal swing high resistance
EURUSD bears await Fed’s decision to refresh yearly lowEURUSD gyrates between the 50-DMA and a two-month-old support line surrounding the yearly bottom flashed last week. The steady RSI and bearish MACD signals, however, keep the sellers hopeful as markets await the Fed. That said, a downside break of the aforementioned support line, around 0.9850 by the press time may avail an intermediate halt near the 0.9800 threshold before directing the quote towards the 61.8% Fibonacci Expansion (FE) of late June to early August moves, near 0.9730. It’s worth noting that the pair’s downside past 0.9730 will make it vulnerable to testing the early 2001 top near 0.9600.
Alternatively, recovery moves beyond the 50-DMA hurdle, around 1.0100, needs validation from the monthly high near 1.0200 to convince the EURUSD buyers. Following that, a run-up towards the previous monthly high surrounding 1.0370 can’t be ruled out. In a case where the currency pair rises past 1.0370, its run-up towards the late June swing high of 1.0615 can’t be ruled out.
Overall, EURUSD remains on the bear’s radar but awaits the FOMC to trigger the fresh south-run.