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Eurusd-4

EURUSD stays below three-week-old support, bears eye 1.1270EURUSD keeps pullback from 50-SMA to kick-starts the key week comprising preliminary PMIs for February, as well as the second readings of US Q4 GDP. Recently keeping sellers hopeful is Friday’s downside break of a short-term support line, now resistance around 1.1335. Despite the latest corrective pullback, the below 50 RSI and bearish MACD signals, the quote is likely to extend the latest fall towards a horizontal area from late December, surrounding 1.1270. However, the 78.6% Fibonacci retracement of January-February upside will challenge the quote’s further downside around 1.1200, a break of which won’t hesitate to direct the bears towards the previous month’s low of 1.1120. On the contrary, the support-turned-resistance line and the 50-SMA, respectively around 1.1335 and 1.1375, guard the EURUSD pair’s short-term recovery moves. During the pair’s recovery past-1.1375, the 1.1400 threshold will act as a last defense for the sellers. Should the quote remain firmer beyond 1.1400, the monthly high surrounding 1.1495 and the 1.1500 round figure will probe the bulls. Overall, a sustained trading below the short-term important moving average and a trend line break favor EURUSD sellers.
Short
by MTradingGlobal
EURUSD bears eye mid-1.1200s on risk-off mood, Fed concernsBe it increasing chatters over a 0.50% rate hike by the Fed in March or the US, EU and the UK’s signals for Russia’s imminent invasion of Ukraine, the US dollar has everything needed to consolidate early February’s losses. The same dragged EURUSD during the last week, which portrayed multiple tops around 1.1480 before ending the week by resting on 200-SMA. Given the downbeat fundamentals and the quote’s inability to cross the 1.1480 hurdle, not to forget downbeat RSI and MACD conditions, the major currency pair is likely to mark further losses. That said, a clear downside break of the 200-SMA level near 1.1340 becomes necessary for the bears to aim for a six-week-old horizontal support zone around 1.1270-65. However, the quote’s further downside will make it vulnerable to conquer the 1.1200 threshold and aim for 1.1180 figures. Following that, January’s bottom of 1.1120 will be in focus. Alternatively, corrective pullback needs to cross the 50-SMA level near 1.1400 to portray another battle with the resistance area around 1.1480. Also challenging the EURUSD bulls is the 200-week SMA level surrounding the 1.1500 round figure. If at all the pair buyers remain dominant past 1.1500, the recovery moves need validation from October 2021 low near 1.1530 before heading towards the 200-DMA on the daily chart, surrounding 1.1660, also comprising the 100-week SMA on the weekly format.
Short
by MTradingGlobal
EURUSD | Long Idea (Technical View) | Target 1.1620 and 1.1800+Since last three months the pair has been in consolidation range of 1.1487 to 1.1120. However, the pair is attempting to breach the range on higher side for the range second time. • The pair is in formation of Bullish Marubozu candle on weekly chart (If todays close and high remains almost same) and will be breaching downward slopping trend line • It has bounced from 1.1121 levels this week where 19 months lows were placed, since then pair is in strong upward momentum • EURUSD has found support of upward sloping trend line on monthly chart as well and RSI also seen picking up sharply • ECB yesterday left key rates unchanged and pledged to reduce steady its bond purchases • ECB president Lagarde said they would asses very carefully and will raise rates this year if required • Eurozone is expected to better than last year, on Covid easing and resumption of economic activity is expected in coming months ****Disclaimer : Please carry personal study before trading or investing****
Long
by viralkadecha
EURUSD bulls approach key hurdles as ECB loomsEURUSD extends bounce off a 19-month low, also comprising 61.8% Fibonacci Expansion (FE) of late September 2021 to early January 2022 moves, as traders await European Central Bank (ECB) monetary policy decision. With the recently high inflation and record low Unemployment Rate in Eurozone, the policy hawks are likely to dominate, which in turn could propel the major currency pair towards breaking immediate resistance, namely the 50-day EMA level surrounding 1.1340. However, a convergence of the 100-day EMA and a 14-week-old resistance line, around 1.1430-35, will be the key hurdle to cross for the confirmation of a short-term bullish trend. On the contrary, a surprise dovish ECB statement wouldn’t hesitate to pour cold water on the face of EURUSD bulls by dragging the quote back to November 2021 low near 1.1185. During the fall, the 1.1300 and the 1.1230 levels may act as buffers before dragging prices towards the 61.8% FE retest, around 1.1125. If the pair bears keep reins past 1.1125, the early May 2020 peak surrounding 1.1020 will pause the south-run targeting the 1.1000 psychological magnet. It should be noted that the ECB is widely anticipated to keep the benchmark policy rate unchanged at 0.0% and the monthly Asset Purchase Programme (APP) to €20 billion. In the last meeting, the ECB announced readiness to end the Pandemic Purchase Emergency Programme (PEPP) in March. For a smooth transition, the bloc’s central bank also unveiled an increase in the Q2 and Q3 APP to €40 billion and €30 billion respectively.
Long
by MTradingGlobal
#EURUSD Trading Plan 28-29 Jan 2022After 2 trending day driven by news-related events - we expect this major forex pait to consolidate for a while now and largely trade flat. Here's our trading plan for the day: In this chart of OANDA:EURUSD I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If EUR/USD's price crosses the top-most price level, we will be looking for long opportunities and if EUR/USD's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 03:25 AM IST which is around when the day is about to end in the forex markets. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset.
by abhineetramjiwal
#EUR/#USD Trading Plan 27-28 Jan 2022This major forex pair is looking extremely weak to us. Here's our trading plan for the day: In this chart of EUR/USD I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If EUR/USD's price crosses the top-most price level, we will be looking for long opportunities and if EUR/USD's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 03:25 AM IST which is around when the day is about to end in the forex markets. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset.
Short
by abhineetramjiwal
#EUR/#USD Trading Plan 26-27 Jan 2022In this chart of EUR/USD I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If EUR/USD's price crosses the top-most price level, we will be looking for long opportunities and if EUR/USD's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 03:25 AM IST which is around when the day is about to end in the forex markets. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset. P.S. today my stance on this major forex pair is neutral. Let's see in which direction will we witness a possible breakout.
by abhineetramjiwal
EURUSD bears aim for sub-1.1200 area post-Fed, US GDP eyedEURUSD bears cheer a clear downside break of a two-month-old ascending trend line, as well as sustained trading below 50-DMA, to brace for 2021 bottom surrounding 1.1185. The MACD and RSI both support the bearish bias. However, the pair’s declines past 1.1185 have a bumpy road as March 2020 swing high near 1.1150 and 61.8% Fibonacci Expansion (FE) of late September 2021 to January 2022 moves around 1.1120 will challenge the sellers afterward. It’s worth noting that the RSI conditions also inch closer to the oversold territory and hence a move past 1.1185 will push it to signal a bounce before further south-run. Alternatively, the aforementioned support-turned-resistance line near 1.1295 precedes the 50-DMA level of 1.1315 to restrict short-term EURUSD rebound. Following that, the 23.6% Fibonacci retracement (Fibo.) of September-November 2021 declines, close to 1.1360, will gain the market’s attention. It’s worth noting, however, that the pair’s upside beyond 1.1360 will be challenged by the 1.1460-65 resistance confluence, comprising 100-DMA and 38.2% Fibo. To sum up, EURUSD has already flagged downside signals towards 2021 bottom but any further weakness becomes doubtful.
Short
by MTradingGlobal