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Eurusd-4

EURUSD rebound stays on the cards until breaking 1.1147Although EURUSD bears keep reins around the yearly, the odds of a corrective pullback can’t be ruled out considering the quote’s ability to stay beyond a three-week-old resistance line, now support, as well as 50-SMA. Also favoring the pair buyers is the firmer RSI line and recently bullish MACD signals. That said, November 18 swing high near 1.1375 acts as immediate resistance for the pair traders to watch ahead of the 50% Fibonacci retracement level of October 28 to November 24 downside, around 1.1440. In a case where the pair buyers keep reins past 1.1440, the 1.1500 threshold and 1.1515 levels may probe them before closing the doors for the sellers. Alternatively, fresh downside needs validation from a 50-SMA level of 1.1270, a break of which will direct the pair sellers towards the yearly low of 1.1185. However, the resistance-turned-support and a broad horizontal area comprising multiple levels marked since March 2020, around 1.1165-47, will be a tough nut to crack for the pair sellers afterward. Should the quote drops below 1.1147, the 1.1000 threshold will be in the spotlight.
by MTradingGlobal
EURUSD inches closer to 1.1160-40 support areaA clear downside break of June 2020 swing high and 61.8% Fibonacci retracement (Fibo.) of March 2020 to January 2021 upside keeps EURUSD bears hopeful to visit a 20-pip horizontal region comprising March 2020 peak and June 2020 trough. However, oversold RSI conditions may challenge the pair bears afterward, if not then the 78.6% Fibo. level of 1.1000 should be on the cards. Additionally, extended weakness past 1.1000 will aim for a 1.0780-60 multiple support zone before challenging the previous yearly low of 1.0635. Meanwhile, the corrective pullback may initially aim for a 61.8% Fibonacci retracement level of 1.1300 prior to challenging the June 2020 high near 1.1420. It should be noted, however, that the bearish trend is less likely to be reversed until the EURUSD prices remain below October’s bottom surrounding 1.1525. Overall, the currency major remains vulnerable to further weakness but intermediate bounces can’t be ruled out.
Short
by MTradingGlobal
EURUSD refreshes 16-month low on the road to 1.1150Alike other major currencies, the broad US dollar strength could be well witnessed on the EURUSD chart that prints the lowest level since July 2020. In doing so, the quote slips below the 61.8% Fibonacci retracement of March 2020 to January 2021 upside, around 1.1300, which in turn joins the bearish MACD signals to keep sellers hopeful. However, oversold RSI conditions hint at a pullback and hence the pair’s further downside hinges on a daily closing below 1.1300. Following that, a horizontal area comprising highs marked during late March and lows of late June, around 1.1150, will be the key to watch. Alternatively, the EURUSD pair’s corrective pullback may aim for June 2020 peak near 1.1420 but any further upside will be challenged by March 2020 peak and 50% Fibonacci retracement level around 1.1500. Even if the pair provides a daily closing past 1.1500, multiple hurdles around the 1.1600 threshold will play their roles to challenge the buyers. To sum up, EURUSD bears are in control but RSI conditions signal a bounce before further declines.
Short
by MTradingGlobal
EURUSD pulls back from 200-SMA ahead of US inflation dataEURUSD defies a three-day recovery ahead of the key US Consumer Price Index (CPI) data on early Wednesday. The major currency pair’s weakness could also be linked to the failures to cross the 200-SMA, bearish MACD signals and RSI retreat. Hence, the quote is likely to decline further towards monthly horizontal support near 1.1525-32. However, the yearly low around 1.1510 and 61.8% Fibonacci Expansion (FE) of the September 14 to October 28 moves, near 1.1490, also joined by the March 2020 bottom, could challenge the pair bears afterward. Meanwhile, recovery moves will be challenged by a convergence of the 200-SMA and 23.6% Fibonacci retracement of September-October fall, around 1.1610. Following that, a downward sloping resistance line from September 03, around 1.1645 and late October’s swing high around 1.1695 will lure the EURUSD bulls. Should the pair buyers manage to cross the 1.1700 hurdle, backed by softer US inflation numbers, the quote may not hesitate to challenge the 61.8% Fibonacci retracement level of 1.1760.
by MTradingGlobal
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NSE:APOLLOLong
by Rachit_Sethia
Technical Analysis: EURUSD is well-set for 1.1500 on NFP dayHaving failed to sustain the early October bounce, EURUSD bears are on the way to testing the March 2020 high near the 1.1500 threshold on the day of the US Nonfarm Payrolls (NFP) release. It should be noted, though, that the lower line of a five-month-old falling wedge, around 1.1450 at the latest, will take the help of the RSI conditions to rebound. Hence, the pair bears are in full swing but the room to the downside is limited. Alternatively, recovery moves remain unimportant before crossing a convergence of the 50-DMA and the wedge’s upper line, around 1.1685. A daily closing beyond the same will confirm a bullish chart formation, suggesting an upswing towards a theoretical target surrounding 1.2300. However, tops marked during September and late June, respectively around 1.1910 and 1.1980, as well as the 1.2000 psychological magnet, will offer intermediate halts.
by MTradingGlobal
EURUSD stays inside falling wedge, US Durable Goods Orders eyedEURUSD bears take a breather around weekly low, after a two-day downtrend, during early Wednesday. Although risk-on mood helps the EURUSD to consolidate weekly losses, the likely firmer US Durable Goods Orders print keeps the bears hopeful. Additionally, the quote’s sustained trading inside a broad falling wedge since early June and a recent drop below 10-DMA joins bearish MACD signals to add technical assent to the bearish expectations. That said, the yearly low surrounding 1.1520 is on the cards ahead of the stated wedge’s support line near 1.1475. During the fall, March 2020 peak close to the 1.1490 may offer an intermediate halt. On the contrary, an upside clearance of the 10-DMA, around 1.1620, may direct short-term buyers towards the monthly peak of 1.1668. However, bulls are less likely to take the risk of entries until witnessing a successful break of 1.1725, comprising the wedge’s resistance line. Following that, hopes of the trend reversal can’t be ruled out. It should be noted that the corrective bounce following the US Durable Goods Orders should be taken with a pinch of salt as the key data/event is Thursday’s US Q3 GDP and the European Central Bank (ECB) meeting.
Short
by MTradingGlobal
1
EURUSD potential DUMP incoming!!broke out M pattern of 1 hour cycle exactly as projection we have reset the 1 hour cycle and we are in mark down phase now, biggest confluence - we didnt break previous high in previous mark up phase of 15 min cycle level 3 ended inside that consolidation (distribution) and went straight to mark down phase (15 min) which broke this 1 hour M pattern cycle again exactly as projected we didnt get level 3 because of mark down phase in daily cycle
Short
by Aditya_Mishra1
1
200-EMA probes EURUSD bullish consolidationAlthough Breakout-Pullback-Continuation (BPC) formation backs EURUSD bulls inside an eight-day-old rising channel, 200-EMA probes the upside momentum of late. Hence, a clear break of the stated moving average hurdle, near 1.1665 by the press time, becomes necessary to defy the sellers’ hopes. Even so, the upper line of the stated channel, near 1.1700 will be a tough nut to crack for the pair buyers ahead of targeting late September’s swing high near 1.1755. Meanwhile, a convergence of the nearby channel and previous resistance line from September 03, near 1.1605, becomes the short-term key support for EURUSD sellers to watch during the pair’s further weakness. Should the quote drops below the 1.1605 level, also conquer the 1.1600 threshold, odds of witnessing 1.1560 and the yearly low of 1.1523 on the chart can’t be ruled out.
Long
by MTradingGlobal
1