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EURUSD

UPCOMING #EURUSD CONSIDERABLE MOVEAmid possible crisis upheld dollar is supposed to weaken further, from a fundamental point of view. my research shows the selling pattern that formed from April considering the double top formation that triggered the huge selling orders continuing to the next 2 months, as in these 2 months the news releases indicate the further sale and the same pattern has been followed hence now, looking closely for this week, from next week will be taking positions on a shorter time frame to get a perfect entry to leverage the profits to a greater extent... DISCLAIMER - I AM NOT A REGISTERED ANALYST, THE VIEWS POSTED ARE ONLY TO SHOW MY PERSPECTIVE ON THE CURRENT MARKET MOVEMENTS THAT MAY HAPPEN. TRADE AT YOUR OWN RISK
Short
by krishbis3181
EURUSD bears dominate ahead of EU GDP, US Retail SalesEURUSD portrays a bearish consolidation inside a seven-week-old descending trend channel ahead of the key Eurozone GDP for Q1 2022, the US Retail Sales for April and a speech from Fed Chairman Jerome Powell. Although oversold RSI conditions challenge the pair’s further downside, a convergence of the stated channel’s resistance line and the 10-SMA, around 1.0500, appears a tough nut to crack for the buyers. Even if the quote rises past 1.0500, the monthly high surrounding 1.0640 and March’s low of 1.0805 will challenge the upside momentum before welcoming the buyers. On the contrary, lows marked since 2017, around 1.0350-40, restrict the short-term downside of the EURUSD. Following that, a downward trajectory towards the 1.0300 threshold becomes imminent. However, a convergence of the aforementioned channel’s lower line and downward sloping trend line from late January, close to 1.0220-10, could gain the market’s attention before the 1.0200 round figure. It’s worth noting that the pair’s south-run past 1.0200 seems a slow grind towards the 1.0000 psychological magnet. Overall, the EURUSD pair’s downside has recently stalled but the trend remains bearish.
by MTradingGlobal
EURUSD’s bear flag hints at further fall in pricesAlthough the weekly channel restricts EURUSD moves while other major currency pairs portray heavy selling against the USD, the bearish flag formation joins downbeat MACD and RSI signals to keep sellers hopeful. Additionally favoring the pair bears is the sustained trading below a descending trend line from March, as well as the 200-SMA and a six-week-old horizontal resistance. However, the south-run needs a trigger and 1.0500 is the same to activate a theoretical slump targeting the 1.0000 psychological magnet. Though, lows marked during 2017 and mid-1999, respectively around 1.0340 and 1.0100, may act as intermediate halts during the anticipated fall. Alternatively, the upper line of mentioned flag, around 1.0650, acts as an immediate upside barrier during the corrective pullback. Following that, the previously stated descending resistance line and the 200-SMA, near 1.0730 and 1.0810 in that order, will act as additional barriers for the EURUSD bulls. It’s worth noting that the pair bears remain hopeful until the quote rallies beyond the multi-day-old horizontal hurdle surrounding 1.0950. To sum up, the EURUSD pair’s hesitance in declining isn’t an early sign of recovery in prices.
Short
by MTradingGlobal
EURUSD rebound appears overdue ahead of Fed’s showdownEURUSD holds onto the one-week-old sideways grind ahead of the key Federal Open Market Committee (FOMC). As a 0.50% rate hike is well-known, as well as priced-in, the Fed will have to supersede market expectations to stay ahead of the curve and keep US dollar on the throne. In that case, the 100% Fibonacci Expansion (FE) of February-March, around 1.0485, holds the key to the south-run targeting the 2017’s yearly bottom surrounding 1.0340. However, the 1.0400 threshold will act as an intermediate halt while portraying the Fed’s superpower action. In a case where the US central banker chose to disappoint markets, by either meeting expectations of a 0.50% rate lift or resisting faster consolidation of policy, the EURUSD pair could witness the much-awaited rebound, as signalled by the oversold RSI line. The following recovery could quickly bounce back beyond the previous support line, around 1.0580, before challenging the 78.6% FE level surrounding 1.0630-35. During the quote’s run-up beyond 1.0635, the 1.0760 level comprising the 61.8% FE acts as the last defence for the buyers. Overall, EURUSD prices have witnessed notable downside in anticipation of the Fed’s larger-than-life move but an actual outcome will be crucial for the next moves.
Long
by MTradingGlobal
EURUSD hints at corrective pullback during the big weekDespite a refreshing two-year low, EURUSD prices remain above a five-month-old downward sloping support line. Adding strength to the recovery hope is Emmanuel Macro’s victory in French Presidential Elections and nearly oversold RSI. That being said, the 10-DMA level surrounding 1.0810 challenges the corrective pullback before directing buyers towards the monthly horizontal resistance near 1.0940. It’s worth noting, however, that the 50-DMA and a descending trend line from early February, respectively around 1.1000 and 1.1030, will be tough nuts to crack for the pair bulls afterward. Meanwhile, the aforementioned support line from late 2021, near 1.0690 by the press time, restricts the immediate downside of EURUSD prices ahead of Tuesday’s Durable Goods Orders. Also important for the week are the Preliminary readings of Q1 2022 GDP figures for the US and Eurozone, up for publishing on Thursday and Friday in that order. Even if the quote drops below 1.0690, the year 2020 lows around 1.0635 and the 1.0600 threshold may entertain bears ahead of highlighting the late 2015 bottom of 1.0515.
by MTradingGlobal
EURUSD remains vulnerable to further downsideEURUSD licks its wounds around a two-year low during a cautiously optimistic Asian session on Wednesday. In doing so, the major currency pair takes a U-turn from the 61.8% Fibonacci Expansion (FE) of February-April moves. However, a downward sloping trend line from March 31 challenges the quote’s corrective pullback near 1.0830 ahead of a broad resistance zone surrounding 1.0930-60 comprising 200-SMA and multiple levels marked in the last one month. Even if the quote manages to cross the 1.0960 hurdle, a 10-week-old descending resistance line near 1.1075 will be crucial for buyers to watch. On the contrary, the 61.8% FE level near 1.0750 restricts the immediate downside of the EURUSD pair ahead of April 2020 lows near 1.0730-25. Should the quote drop below 1.0730, the 1.0700 round figure and March 2020 bottom surrounding 1.0635 will lure the pair bears. It’s worth noting, however, that the RSI conditions aren’t supporting a no-break south-run and hence intermediate pullbacks can’t be ruled out. Overall, the EURUSD rebound remains elusive until crossing the 1.1075 level
Short
by MTradingGlobal
The Fibonacci Game!After the yesterday's 160 pips fall, EURUSD took great support at $1.0776 - $1.07574 levels for a good 78 pips pull back therefrom. Saw some rejection, Retraced 50% and ended up forming a wedge with a $1.07970 low and $1.08236 high. There was quite a resistance at $1.08070 levels, Breakout therefrom made the high of $1.08236. (Which happens to be the 61.8% Retracement level too). When I got to my desk, This whole story was already in play. Price was travelling near the $1.08070 levels and thanks to the buying pressure reflected by the long wick and a hammer candle, which made the entire set up look like a re-test. 1) Getting some decent 1.95 Reward to Risk. 2) DXY seeking resistance at 100.49 levels and preparing for a quick Immediate fall. 3) Buying pressure at 61.8% retracement level. 4) Making higher highs - higher lows on a shorter timeframe. These were the reasons for me to put on this quick trade for 13-14 pips. It's just so amazing to see the way Fibonacci levels play out even on such a shorter timeframe. Fun Fact (Just in case you didn't know) - Fibonacci Sequence was first discovered by an Indian mathematician Acharya Pingala.
by pranay0508mishra
eurusd long and short on MTFMay 04, 2022 The bank expects the Fed to deliver 6 rate hikes in the year, of 25 bps each, with the first hike likely in March, followed by additional hikes in May, June, July, September and December, as per a Reuters report. According to Morgan Stanley, a rate hike of 150 basis points is appropriate this year to keep rising inflation under control. The bank had previously predicted this figure at 125 basis points. According to data released last week, the US CPI inflation jumped at its fastest pace in 40 years, or since 1982. Besides, the former U.S. Treasury Secretary Lawrence Summers last week made remarks on the Fed to likely hike interest rates at all the seven remaining policy meetings in 2022. Fears of the Fed taking more aggressive rate hikes in the year to curb rising inflation have spooked global markets, with more hold on emerging markets like India. Economists believe that the red-hot US inflation figure for January could lead to interest rate hikes by at least 100 basis points this year. Even a 50 bps hike in March would lead to ​​a sharp correction in global markets, stated the Chief Investment Strategist at Geojit Financial Services.
by satyendrasatya48