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EURUSD

EURUSD mark up phase starting if we breakout 1H W patternfor EURUSD I am expecting a mark up phase during Mon-wed cycle and start forming a big W pattern. After this 7 days (2 weekly cycle) mark down phase to the downside which was level 3 of 1H cycle and now. confluences- MM has absorbed all orders of 1.09 and recovered the 4H vector candle + There is a huge of 4H divergence + the GAP is still remaining so if they form a W pattern we might be starting a new 1H mark up cycle + there is a chance of starting a new 1H cycle with a smaller W patter (15 min) as it has happened a lot in the past
Long
by Aditya_Mishra1
EURUSD is all set to test 1.1000 psychological magnetEURUSD remains on the back foot around a 21-month low, despite the recently sidelined performance. That said, the bearish MACD signals do support the latest break of a descending support line from late November, around 1.1080 at the latest, which in turn hints at the quote’s further weakness. However, the RSI line nears the oversold territory and hence indicates that a bounce a brewing around the next support. The same highlights the 1.1000 support confluence for the bears, including 13-day-old support and 61.8% Fibonacci Expansion (FE) of the pair’s moves between September 2021 and February 2021. In a case where EURUSD’s downside fails to take a halt near 1.1000, October 2019 low near 1.0880 will gain the market’s attention. Meanwhile, the corrective pullback may aim for December 2021 low surrounding 1.1220 before directing short-term EURUSD buyers towards the mid-February 2022 bottom around 1.1280. However, a convergence of the 21 and 50-DMA close to 1.1320-25 will be a tough nut to crack for the bulls afterward. Should the quote manage to cross the 1.1325 hurdle, the odds of its rally towards a seven-week-old horizontal resistance zone near 1.1480-95 can’t be ruled out. Other than the technical details, grim concerns surrounding Ukraine pedal the rush to risk-safety, favoring the US dollar. Adding to the greenback’s strength is the comparatively more hawkish tone of the latest Fedspeak than the rest of the global central banks.
Short
by MTradingGlobal
3
EURUSD bears eye 1.1000 as Russia triggers flight-to-safetyAs Moscow proved the Western forecasts right by invading Kyiv, markets players rushed to risk safety on Thursday. The sour sentiment propelled prices of traditional safe-havens, like gold and USD, which in turn caused the EURUSD pair’s slump. The south-run also conquered three-month-old horizontal support around 1.1185-70. The same opened doors for the quote’s further weakness towards refreshing 2022 low, currently around 1.1120. This highlights the 61.8% Fibonacci Expansion of the pair’s moves between September 2021 and February 2022, around 1.1000. It should be noted, however, that oversold RSI and the strength of the psychological magnet can trigger the quote’s corrective pullback around 1.1000, if not then late May 2020 swing lows around 1.0870 will be in focus. That being said, the quote defends the horizontal area from November of late, which in turn teases buyers to aim for the December 2021 lows surrounding 1.1220. Following that, 23.6% Fibonacci retracement (Fibo.) of September-January declines, around 1.1300, should lure EURUSD bulls. Though, a convergence of the 21 and 50 DMAs, near 1.1330, will be a tough nut to crack for the buyers. On a bit broader scenario, double tops around 1.1480-85 and the monthly peak of 1.1495 act as crucial hurdles for buyer’s entry. Overall, the US dollar has the further upside to track until the geopolitical issue gets resolved, or at least tamed for the short-term.
by MTradingGlobal
EURUSD stays below three-week-old support, bears eye 1.1270EURUSD keeps pullback from 50-SMA to kick-starts the key week comprising preliminary PMIs for February, as well as the second readings of US Q4 GDP. Recently keeping sellers hopeful is Friday’s downside break of a short-term support line, now resistance around 1.1335. Despite the latest corrective pullback, the below 50 RSI and bearish MACD signals, the quote is likely to extend the latest fall towards a horizontal area from late December, surrounding 1.1270. However, the 78.6% Fibonacci retracement of January-February upside will challenge the quote’s further downside around 1.1200, a break of which won’t hesitate to direct the bears towards the previous month’s low of 1.1120. On the contrary, the support-turned-resistance line and the 50-SMA, respectively around 1.1335 and 1.1375, guard the EURUSD pair’s short-term recovery moves. During the pair’s recovery past-1.1375, the 1.1400 threshold will act as a last defense for the sellers. Should the quote remain firmer beyond 1.1400, the monthly high surrounding 1.1495 and the 1.1500 round figure will probe the bulls. Overall, a sustained trading below the short-term important moving average and a trend line break favor EURUSD sellers.
Short
by MTradingGlobal
EURUSD bears eye mid-1.1200s on risk-off mood, Fed concernsBe it increasing chatters over a 0.50% rate hike by the Fed in March or the US, EU and the UK’s signals for Russia’s imminent invasion of Ukraine, the US dollar has everything needed to consolidate early February’s losses. The same dragged EURUSD during the last week, which portrayed multiple tops around 1.1480 before ending the week by resting on 200-SMA. Given the downbeat fundamentals and the quote’s inability to cross the 1.1480 hurdle, not to forget downbeat RSI and MACD conditions, the major currency pair is likely to mark further losses. That said, a clear downside break of the 200-SMA level near 1.1340 becomes necessary for the bears to aim for a six-week-old horizontal support zone around 1.1270-65. However, the quote’s further downside will make it vulnerable to conquer the 1.1200 threshold and aim for 1.1180 figures. Following that, January’s bottom of 1.1120 will be in focus. Alternatively, corrective pullback needs to cross the 50-SMA level near 1.1400 to portray another battle with the resistance area around 1.1480. Also challenging the EURUSD bulls is the 200-week SMA level surrounding the 1.1500 round figure. If at all the pair buyers remain dominant past 1.1500, the recovery moves need validation from October 2021 low near 1.1530 before heading towards the 200-DMA on the daily chart, surrounding 1.1660, also comprising the 100-week SMA on the weekly format.
Short
by MTradingGlobal
EURUSD | Long Idea (Technical View) | Target 1.1620 and 1.1800+Since last three months the pair has been in consolidation range of 1.1487 to 1.1120. However, the pair is attempting to breach the range on higher side for the range second time. • The pair is in formation of Bullish Marubozu candle on weekly chart (If todays close and high remains almost same) and will be breaching downward slopping trend line • It has bounced from 1.1121 levels this week where 19 months lows were placed, since then pair is in strong upward momentum • EURUSD has found support of upward sloping trend line on monthly chart as well and RSI also seen picking up sharply • ECB yesterday left key rates unchanged and pledged to reduce steady its bond purchases • ECB president Lagarde said they would asses very carefully and will raise rates this year if required • Eurozone is expected to better than last year, on Covid easing and resumption of economic activity is expected in coming months ****Disclaimer : Please carry personal study before trading or investing****
Long
by viralkadecha