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EURUSD

EURUSD snaps three-day losing streak but remains vulnerableEURUSD stays defensive around 1.0820 as it rebounds from the 50% Fibonacci ratio of the October-December 2023 upside. In doing so, the Euro pair prints the first daily gain in four while approaching the 200-SMA resistance surrounding 1.0830. Not only the 200-SMA but the 50-SMA level of around 1.0870 also challenges the pair buyers. Following that, the lat January swing high of around 1.0930 and the 1.1000 threshold will be the final defenses of the bears before welcoming the bulls. On the contrary, the 50% and 61.8% Fibonacci ratios around 1.0795 and 1.0710 respectively act as the strong downside support levels for the EURUSD. Also acting as the downside filter is the monthly low of around 1.0695, a break of which will divert the Euro sellers toward the October 2023 swing low of around 1.0450. That said, bullish MACD signals and the upbeat RSI conditions also challenge the quote’s further downside past the Golden Fibonacci Ratio, namely the 61.8% Fibonacci ratio. Overall, the EURUSD bears appear taking the rest but are still in the game even if the quote’s downside past 61.8% Fibonacci ratio needs a strong reason to lure the sellers. As a result, today’s Eurozone inflation numbers and PMI data will be important to watch for clear directions.
by MTradingGlobal
EURUSD - Stable trading above the psychological level of 1,080Hello everyone, let's discuss EURUSD today with RKarina! Currently, the EURUSD currency pair is trading quite calmly and there haven't been many price changes, with trading levels around 1.083 USD from the beginning of the week until now. Looking at the prospects from today's short-term analysis chart: This currency pair has experienced a pullback above the 0.5 - 0.618 Fibonacci level, indicating that the selling side seems to have an advantage during this period. However, it is still operating weakly as the price continues to hover and align with the two EMA lines, namely the 34 and 89. If everything goes well and meets expectations, after a slight sideways movement, this currency pair will aim for the next target at the resistance level of 1.086. Let's wait and see the results!
Long
by RKarina
AUDUSD LongFOREXCOM:AUDUSD 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!!!!
Long
by Phinics
1
EURUSD: SELL?The EUR/USD pair is trading with a softer tone as the US dollar (USD) modestly rebounds in early Asian trading on Monday. The market will be paying attention to the US PCE inflation data for January this week, which could cause some volatility. At the time of writing, EUR/USD is trading at 1.0818, down 0.01% on the day. With the possibility of forming a head and shoulders pattern and a bearish price, I expect that after the price receives support and increases to the specified level, it will decrease with the target specified on the chart.
Short
by RKarina
EURUSD: End of blue translationHello dear readers, it's RKarina here again. Currently, EURUSD has temporarily closed its trading activities and halted at the level of 1.081. It can be observed that the past week was a profitable trading week for buyers as the price was consistently supported and moved up from the newly established support level at 1.070. As a result, the risk sentiment has improved, making it difficult for the USD to regain strength and thereby creating some foundation and support for EURUSD. RKarina expects that this currency pair will continue to increase in price in the near future, aiming for the level of 1.091 as indicated by Fibonacci as a corrective phase following the retreat from the first marked wave. What are your thoughts on the future trend of EURUSD?
by RKarina
EURUSDHello everyone, today EURUSD has risen higher on Thursday, testing the highest bid price since early February before returning to the 1.0800 area after the European and US Purchasing Managers' Index (PMI) data came in slightly lower or contrary to expectations. With the ability to create DOW from the chart using Fibonacci retracement levels, the upward movement will soon reach resistance levels at 1.0865 and 1.0918, followed by a rapid decline with an expected touch level of 1.618, which is 1.0418. What about you, do you agree with me?
Short
by RKarina
200-SMA tests EURUSD’s biggest weekly gain in nineEURUSD seesaws between a one-week-old rising support line and the 200-SMA resistance after rising to a three-week high the previous day. In doing so, the Euro pair portrays the market’s indecision ahead of the second-tier German statistics. Even so, the major currency pair is on the way to posting the biggest weekly gain in 2024. That said, the sluggish MACD signals and steady RSI (14) line favor the pair’s latest run-up, which in turn suggests brighter chances of the quote’s run-up beyond the 200-SMA hurdle of around 1.0840. However, a horizontal area comprising the monthly high of near 1.0900 will be a tough nut to crack the pair buyers afterward. Should the quote manage to remain firmer past 1.0900, a quick run-up toward the 1.1000 threshold becomes imminent. On the flip side, a clear break of the aforementioned support line, close to 1.0800 at the latest, won’t be an open signal for the EURUSD bull’s entry as a resistance-turned-support line from early January, near 1.0755 as we write, will test the quote’s further declines. In a case where the Euro bears keep the reins past 1.0755, the monthly low of near 1.0700 and the mid-2023 bottom of 1.0635 will be in their radars. Overall, the EURUSD is likely to remain firmer but the upside past 1.0900 becomes necessary to reverse the quote’s previous fall.
by MTradingGlobal
EURUSD rebound is elusive, ECB’s Lagarde, US Retail Sales eyedEURUSD struggles to defend the previous day’s corrective bounce from a three-month low early Thursday. In doing so, the Euro pair seesaws around the key 1.0730-20 support zone comprising levels marked since early November. It’s worth noting that the RSI (14) line’s gradual recovery from the oversold territory joins the bearish MACD signals and the early February’s downside break of the key technical levels to keep the sellers hopeful. That said, a fresh selling needs validation from the latest trough surrounding 1.0695 before directing the quote toward the November 10 swing low of around 1.0655. Following that, the early October 2023 swing high of around 1.0640 will be the last defense of the buyers before giving control to the bears. On the flip side, the support-turned-resistance line stretched from early October, around 1.0770 by the press time, guards the immediate recovery of the EURUSD pair. Even if the quote manages to cross the 1.0770 hurdle, it won’t be capable of luring the bulls as the 100-SMA hurdle of around 1.0800 will test the upside momentum. It’s worth noting, however, that any upside momentum must stay beyond the 1.0825-30 resistance confluence comprising the 200-SMA and a five-week-old falling trend line to convince the markets of a bullish trend. Overall, the EURUSD pair remains well beneath the key support-turned-resistances and hence any recovery below 1.0830 remains unconvincing.
by MTradingGlobal
XAUUSD ShortFOREXCOM:XAUUSD 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!!!!
FOREXCOM:XAUUSDShort
by Phinics
EURUSD slides beneath key support as Fed’s Powell defends hawksEURUSD dropped to the lowest level in two months after Federal Reserve (Fed) Chairman Jerome Powell firmly pushed back the March rate cut. The same allowed the Euro pair to keep the previous day’s downside break of a 1.0810 support confluence comprising the 200-bar Exponential Moving Average (EMA) and a four-month-old rising trend line. Additionally keeping the sellers hopeful are the bearish MACD signals. However, the below 50.0 level of the RSI (14) line raises doubts about the downside momentum and hence the bears need validation from December’s low of around 1.0720 to tighten the grips. Following that, October’s high of 1.0695 and early November swing low surrounding 1.0655 will be in the spotlight. Alternatively, the EURUSD rebound needs acceptance from the support-turned-resistance confluence of around 1.0810 and the US ISM Services PMI. Even so, a downward-sloping resistance line from early January, close to 1.0875 at the latest, quickly followed by the 1.0900 threshold, will act as the final defense of the Euro sellers before giving control to the bulls. It’s worth noting, however, that the quote’s successful trading above 1.0900 enables the buyers to aim for the 1.1000 psychological magnet and November’s peak near 1.1020. Overall, EURUSD teases bears on hawkish Fed concerns but the road toward the south appears long and bumpy.
by MTradingGlobal
EURUSD: bullish or bearish?Dear friend, EURUSD continues its losing streak this week, with the price of this currency pair trading around the 1.081 level and struggling to find any significant support on the chart. The primarily influencing factors are market news and investor sentiment, along with the volatility of the USD. If sellers regain control, EUR/USD could potentially return to the lows around 1.075 and possibly even 1.066. These are two significant support levels to watch. Conversely, if conditions favor EURUSD, it could bounce back from those levels and move higher.
by RKarina
EURUSD: Continue to be restrainedHello, it's great to see you all again for today's discussion on EURUSD! Currently, in the early trading hours of Thursday, the EURUSD currency pair continues its downward trend, with the trading level at the time of writing being 1.081. The strengthening of the US dollar has sparked new selling pressure on EUR/USD, pushing it down to its lowest level in the weekly range near the psychological area of 1.0800. The selling side seems to be showing a clear determination to push this currency pair down towards the testing area at 1.073, which is the final support level according to the Fibonacci measurement.
Short
by RKarina
1
EURUSD: Continuing to search for new bottoms!The EUR/USD pair is recovering some lost ground below the 1.0800 level in early Asian trading on Tuesday. The pair's recovery is driven by the modest decline of the US dollar and lower US Treasury bond yields. In the short term, there are expectations of an increase, but when looking at the longer-term trend, the weakness of this currency pair has not yet stopped. It has just surpassed the support level of 1.085 and still aims to find momentum around the 1.075 level. If that price level continues to be broken by the bearish side, EURUSD still has another opportunity at the 1.066 level as it is a significant support level that has helped EURUSD rebound strongly in the recent past. The currency market is fully priced in.
by RKarina
EURUSD tests falling wedge ahead of Eurozone GDPEURUSD stays pressured within a three-week-old falling wedge bullish chart formation as the pair traders await the first readings of German and the Eurozone Gross Domestic Product (GDP) for Q4 2024 early Tuesday. In doing so, the quote fades the previous day’s corrective bounce off the stated pattern’s bottom line while portraying a third consecutive weekly loss so far. It’s worth noting, however, that the recently downbeat RSI and MACD signals suggest weakness in the bearish trend and hence a quick run-up on the upbeat prints of GDP can’t be ruled out. In that case, the previous support line stretched from early November, now resistance around 1.0880, will restrict the immediate upside of the Euro pair. Following that, the falling wedge’s top line surrounding 1.0900 and the 200-SMA level of 1.0935 will be crucial to watch as the final battle points for the bears before giving control to the buyers. Alternatively, the aforementioned wedge’s lower line of around 1.0800 puts a floor under the EURUSD price. Following that, the 61.8% Fibonacci retracement of the November-December upside, near 1.0760, will precede the 78.6% Fibonacci ratio surrounding 1.0650 to act as the last defense of the pair buyers. In a case where the quote remains bearish past 1.0650, the pair’s lows marked in November and October, respectively near 1.0515 and 1.0450, will lure the sellers. To sum up, EURUSD portrays a bullish chart formation ahead of the bloc’s key growth data.
by MTradingGlobal
EURUSD: Price wedge widening, what is the next trend?Dear readers, EUR/USD has once again dropped to a low of 1.0850 as the currency pair continues to fluctuate within familiar levels this week. The downward price trend has pushed the Euro lower against the US Dollar following the ECB's decision to maintain interest rates and better-than-expected US GDP data. On the 4-hour chart, the currency pair is trading near the lower end of an ongoing consolidation process around the 1.0890 level, indicating a period of consolidation. Support is seen at 1.080. On the other hand, upward price movements may attempt to reach the 1.090 level, but prices could decline further from this area as it completes a test of the EMA 34, 89.
Short
by RKarina
EURUSD: discount?Dear friends, overall EURUSD is not receiving much support as the main trend is downward, surpassing the psychological support level of 1.090. The prevailing risk aversion sentiment, driven by escalating geopolitical tensions in the Middle East, is causing traders to favor the US dollar (USD), putting downward pressure on the EUR/USD pair, which is trading near 1.083 today. This week, we will have several important news releases, particularly the US Housing Price Index and Consumer Confidence data, which will be released on Tuesday, providing more detailed information about the market. This careful consideration is expected to strengthen following the upcoming statement from the Federal Open Market Committee (FOMC) on Wednesday.
Short
by RKarina