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EURUSD

EURUSD bears take a breather with eyes on 1.0760A one-month-old horizontal area probes EURUSD bears amid oversold RSI conditions, portraying a corrective pullback towards the late March low near 1.0945. However, a convergence of the 50-SMA and 100-SMA, as well as bearish MACD signals, can challenge sellers afterward. In a case where the SMA confluence fails to stop buyers, 1.1120 and the last monthly peak surrounding 1.1185 will act as validation points before giving reins to the bulls. On the contrary, fresh selling should wait for a clear downside break of the aforementioned horizontal support around 1.0885-80. Following that, the yearly low near 1.0800 will be quick to return to the charts. Though, the 61.8% FE of February-March moves near 1.0760 could test the EURUSD bears afterward. If at all the pair refrains from bouncing off the 61.8% FE level, the year 2020 bottom surrounding 1.0635 will be in focus.
Short
by MTradingGlobal
EURUSD pair analysis for both directionBased on the current scenario we have 3 levels approaching, as of now it's neutral and it can be seen that it just started a bullish run as we overcome the breakeven point at 1.10200 if it breaks 1.10400 then we have a strong bull rally and if it doesn't survive we might test the levels of 1.10200 couple of times. If it breaks then 1.10200 then it means the bearish trend continues. The chart here demonstrates the analysis. The entire thing is just an analysis, trades to be taken are at your own risk.
by Leokin3
EURUSD bulls need validation from 21-DMA to retake controlsEURUSD’s corrective pullback remains below 21-DMA, as well as a two-week-old ascending trend line, suggesting a further downside towards the lower end of the latest range between 1.1120 and 1.0900. However, the 23.6% Fibonacci retracement (Fibo.) of February-March downside acts as an intermediate halt around 1.0980. While the bearish MACD and downward sloping RSI favor the bears of late, the prices have little room on the downside before the RSI turns oversold. As a result, the 1.0900 support is likely acting as a trigger for fresh buying, if not then the quote’s south-run towards the monthly low near 1.0800 can’t be ruled out. Meanwhile, the 21-DMA level surrounding 1.1035 guards the quote’s short-term rebound ahead of the previous support line from early March, near 1.1045-50 at the latest. In a case where the EURUSD prices rally beyond 1.1050, the upper end of the aforementioned trading range, close to 1.1120, will lure the bulls. It should be noted, however, that the pair’s successful break of 1.1120 will enable the buyers to challenge the 50-DMA level surrounding 1.1200. Overall, EURUSD is likely to decline further but the south-run has a limited horizon to cover.
by MTradingGlobal
EURUSD bulls are at test inside fortnight-old triangleEURUSD braces for the first positive week in six, despite recently drop back to a two-week-long symmetrical triangle during early Friday. Given the bullish MACD signals and firmer RSI, the major currency pair is up for crossing the aforementioned triangle’s resistance line, near 1.1105. Even so, the 200-SMA and a seven-week-old horizontal area, respectively around 1.1200 and 1.1265-75, become tough nuts to crack for the bulls. Alternatively, pullback moves remain elusive beyond the 1.0960 level comprising the lower line of the aforementioned triangle and 23.6% Fibonacci retracement of February-March downside. Following that, the 1.0900 and the monthly bottom surrounding 1.0800 will challenge the EURUSD bears. It’s worth noting that the pair’s downside past 1.0800 will make it vulnerable to test the 61.8% Fibonacci Expansion (FE) of January-March moves, close to 1.0700. To sum up, EURUSD prices do gain upside momentum of late but the bulls have a long road to travel before taking control.
by MTradingGlobal
EURUSD ANALYSIS ON H4 CHART.Overall, EUR/USD is trending downwards. Recently, EUR/USD traded into the support zone of 1.10000. The European Central Bank (ECB) held its monetary policy unchanged during its meeting yesterday. The central bank sent out a hawkish tone when it announced that it will speed up its QE tapering if the eurozone economic data warrants it to do so, potentially ending bond-buying during the third quarter of 2022. Currently, EUR/USD is testing the support zone of 1.10000 and the next resistance zone is at 1.12000. Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.10000.
Long
by charliedavies770