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EURUSD

Short on EURUSD pairIn daily chart EURUSD formed the bearish candle with strong selling Volume candle. In 4hr Time frame it has formed Falling Wedge Pattern and make breakdown for downside. ------------------------------------------------------------------------------------------------------------- Risk and reward In this trade will be 6:91 Entry At : 1.09761 Sl will be : 1.10307 Target 1 : 1.08394 Target 2 : 1.07164 Final Target : 1.05990 --------------------------------------------------------------------------------------------------- This is education purpose trade. Please take advice from your financial adviser before taking any trade in live market. ----------------------------------------------------------------------------------------------------- For more update Stay tuned with us. Trading Cafe 24 Thank you
Short
by Trading_Cafe24
7
EURUSD bears need to break 1.0730 to regain commandA clear downside break of 200-SMA and a six-week-old ascending trend line allowed EURUSD bears to cheer the biggest weekly loss since September 2022, not to forget the snapping of the two-week uptrend. Although the Euro bears are well-set to revisit the previous monthly low of around 1.0790, an oversold RSI may help the sellers to take a breather. As a result, a horizontal area comprising multiple levels marked since mid-March around 1.0740-30, as well as the 61.8% Fibonacci retracement level of the pair’s March-April upside, becomes crucial support to watch. In a case where the quote remains bearish past 1.0730, the odds of witnessing a fresh Year-To-Date (YTD) low, currently around 1.0480, can’t be ruled out. Meanwhile, EURUSD recovery remains elusive unless the quote remains below a convergence of the 200-SMA and a one-week-long descending resistance line, close to 1.0960. Even so, the previous support line stretched from early April, near 1.1010 at the latest, may test the buyers before giving them control. Following that, the current yearly high marked in the last month around 1.1095 and the 1.1100 round figure will be in focus as a break of which could challenge the April 2022 peak of around 1.1185. Overall, EURUSD is likely to witness further downside but the bears have multiple challenges and need back-up from the key EU data/events to retake control.
by MTradingGlobal
EURUSD WEEKLY#EURUSD All time LOW at 0.90275 and that's the starting point of EURUSD candle on 01MAY2002. #EURUSD All time HIGH at 1.60388 on 01JULY2008. On 02NOV2009 price drops at 1.51440. After that price drops again at 1.49401 on 02MAY2011 but able to touch previous High. Again price drops at 1.39936 on 01MAY2014. Drops again at 1.2556 on 01FEB2018. As you see I Already marked POI on 26MARCH2018 and I was waiting for a mitigation and price went that direction as a magnet! Then we saw something new after few month's price try to touch the previous high but...! Price failed to the previou high at 1.23496 on 01JAN2021 and price drop again! I marked some Important POI Now price is moving towards 1.12826 POI to mitigate. When price gives as a BREAKOUT on 1.25560 level then we can see a BULL MARKET Until then, we can expect the price should not fall down below 0.9536 CORRECT ME IF I'M WRONG!
by VIJETEJBHIMRAOTAMBARE
EURUSD teases sellers on US inflation dayAfter multiple failures to cross the 1.1100 hurdle, EURUSD broke a five-week-old ascending support line as US Consumer Price Index (CPI) for April looms. The major currency pair’s bearish signal also gains support from the downbeat MACD and RSI conditions. However, the 50-DMA and 100-DMA levels, respectively near 1.0850 and 1.0785, can check the Euro bears before giving them control. Even so, tops marked during late 2022 around 1.0710 may act as the last defense of the buyers before directing prices towards the YTD lows of around 1.0515. Meanwhile, a corrective bounce remains elusive unless rising back beyond the previous support line stretched from early April, close to 1.1000 by the press time. Even so, a three-month-old upward-sloping resistance line, close to 1.1100, appears a tough nut to crack for the EURUSD bulls to regain their power. Following that, a run-up towards the late March 2022 high of near 1.1185 will be in the spotlight. Overall, EURUSD bulls have finally stepped back after multiple attempts to conquer the 1.1100. However, their defeat isn’t confirmed yet as the US inflation data and the key support can surprise markets. Hence, there prevails a need to be cautious while trading this key event.
by MTradingGlobal
Preparing for the Worst: Trading Ahead of a US Debt Default"It is impossible to predict with certainty the exact date when Treasury will be unable to pay the government's bills," Treasury Secretary Janet Yellen said in a letter to Congress. Although Yellen noted a tentative date of June 1 as the due date to help spur lawmakers into action. While it is highly unlikely that the US will default on its debt, this doesn’t mean that the traders won’t make plans to deal with a default or get jittery. Two likely markets that will have to deal with the moves from these investors will be forex and gold. If uncertainties about an unprecedented potential U.S. debt default persist, the US dollar might lose some of its safe haven status which would possibly shift to gold. US President Joe Biden plans to meet with House Democratic leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Republican leader Mitch McConnell on May 9. This will be a key date to watch the US dollar and gold in case the group come to some kind of agreement to increase the debt ceiling. With the US being the bedrock of the whole world’s financial system, we might also expect to see investors' jitters manifest in offshore-based assets too. Other safe havens such as the Japanese yen, the Swiss franc, and particularly the euro might be prime candidates for inflows.
by BlackBull_Markets
EURUSD portrays bullish consolidation ahead of ECBEURUSD recently pierced a three-week-old symmetrical triangle as the European Central Bank (ECB) Interest Rate Decision looms. That said, the Fed-inspired run-up impresses the Euro bulls as the pair trades successfully beyond the 200-SMA amid a firmer RSI (14) line and bullish MACD signals. As a result, the quote is well set for rising to the fresh high since late March 2022, currently around 1.1095. The same highlights the 1.1100 round figure as a lucrative stop ahead of the 61.8% Fibonacci Expansion (FE) of the pair’s moves from April 03 to May 02, near 1.1130. Following that, the 78.6% FE and March 2022 peak of around 1.1180 and 1.1185 respectively could lure the pair buyers. Meanwhile, EURUSD sellers will need validation from the 200-SMA support of around 1.0915 to retake control. Even so, lows marked during April 10 and 03, close to 1.0830 and 1.0790 in that order, can check the bears before giving them control. In that case, the 61.8% Fibonacci retracement of the Euro pair’s March-April upside, surrounding 1.0735, may act as the last defense of the buyers before directing them to the YTD low marked in March around 1.0515. Overall, EURUSD buyers remain in the driver’s seat as they await the key central bank decision.
by MTradingGlobal
EURUSD bulls observe inverse head-and-shoulders for major run-upEURUSD dribbles around a fresh 13-month high marked the previous day as it pokes the neckline of an inverse head-and-shoulders bullish chart formation, close to 1.1090 at the latest. A successful break of the said hurdle would theoretically confirm a major uptrend targeting the year 2018 peak surrounding 1.2550-60. However, tops marked during March 2022 near 1.1185 and the last year's top of 1.1495 can act as validation points for the Euro pair’s further advances. That said, the 1.2000 psychological magnet and year 2021’s peak of 1.2350 are some of the extra upside filters which can check the bulls during the anticipated north-run. On the contrary, failure to offer a decisive break beyond the 1.1090 hurdle, as well as the 1.1100 round figure, may trigger the much-awaited pullback of the EURUSD pair. Even so, the pair sellers will wait for a clear downside break of the one-month-old ascending support line, close to 1.0975 to convince the Euro sellers. In that case, the 100-DMA level of around 1.0750 may act as an intermediate halt before highlighting the lows marked in March and January of 2023, respectively near 1.0515 and 1.0480. Overall, EURUSD bulls prepare for a major uptrend but a successful rise beyond 1.1100 becomes necessary for witnessing a stellar rise.
by MTradingGlobal
EURUSD remains on the bull’s radar beyond 1.0900EURUSD prins mild gains within a one-month-old bullish channel even as RSI eases from the overbought conditions. That said, the impending bear cross on the MACD joins the major currency pair’s inability to stay beyond 1.1000 to lure sellers. However, a clear downside break of the stated channel’s bottom line, close to 1.0900 at the latest, becomes necessary for the confirmation of downside bias. Even so, the 50-SMA and an ascending support line from early January, respectively near 1.0745 and 1.0585 in that order, appear tough nuts to crack for the pair sellers before retaking the control. Meanwhile, the EURUSD recovery needs to sustain above the 1.1000 psychological magnet to convince buyers. In that case, the aforementioned channel’s top line, close to 1.1100, may test the upside momentum. Should the Euro price remains firmer past 1.1100, the 61.8% Fibonacci Expansion (FE) of its between November 10, 200 and March 15, 2023, near 1.1200, could lure the upside momentum. During the run-up, the late March 2022 top surrounding 1.1185 can act as an intermediate halt. Overall, EURUSD bulls appear to run up out of steam but the bears have a long and bumpy road before taking control.
by MTradingGlobal