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Eurusdbreakout

Huge Falling Wedge & Double Bottom It's important to note that the behavior of the EURUSD pair can be influenced by a wide range of factors such as global economic conditions, political developments, supply and demand, and market sentiment. Therefore, it's important to do your own research, analyze the market conditions, and consult with a qualified financial advisor before making any investment decisions. However, I can provide an explanation of the chart patterns you mentioned, which are the falling wedge pattern and the double bottom pattern. The falling wedge pattern is a bullish chart pattern that occurs when the price of an asset is trading within a downward sloping channel but with a contracting range. This pattern is characterized by a series of lower highs and lower lows that form two converging trendlines that slope downward. The falling wedge pattern is formed when the price reaches a support level and starts to consolidate, with the lows getting higher and higher while the highs maintain their level, indicating that the sellers are losing momentum. Once the price breaks above the upper trendline of the wedge pattern, it can indicate a trend reversal, and traders may consider buying the asset. The double bottom pattern is also a bullish chart pattern that occurs when the price of an asset forms two distinct lows at approximately the same price level, separated by a high. This pattern is formed when the price reaches a support level, bounces off it, and then falls back to the same level before bouncing again. The double bottom pattern indicates a potential trend reversal, and traders may consider buying the asset. It's important to note that chart patterns are just one of the many tools used by traders to analyze the market, and they should not be relied on exclusively for investment decisions. Additionally, it's essential to use risk management techniques, such as setting stop-loss orders, to limit potential losses if the trade does not go as expected. In summary, the falling wedge and double bottom patterns are bullish chart patterns that can occur in the EURUSD pair or any other asset, and they indicate a potential trend reversal. However, investors should conduct thorough research and analysis and consult with a financial advisor before making any investment decisions based on chart patterns. The FED news can also influence the price of the US dollar, but it's important to keep in mind that market conditions can change rapidly, and it's crucial to constantly monitor the price movements of the asset and adjust investment strategies accordingly.
Long
by Epic1st
EUR/USD to Tackle Fed Fear and Eye $1.08 on Easing Bank CrisisIt is a relatively busy day ahead for the EUR/USD. ZEW Economic Sentiment figures for Germany and the Eurozone will draw interest today. Following the collapse of Silicon Valley Bank and Signature Bank (SBNY), economic sentiment figures are likely to weaken. Economists forecast the German Economic Sentiment Index to fall from 28.1 to 17.1 in March, with the Eurozone Economic Sentiment Index to slide from 29.7 to 16.0. This morning, the EUR/USD was down 0.03% to $1.07144. A mixed start to the day saw the EUR/USD rise to an early high of $1.07260 before falling to a low of $1.07096. The EUR/USD needs to avoid the $1.0693 pivot to target the First Major Resistance Level (R1) at $1.0755. A move through the Monday high of $1.07308 would signal a bullish session. However, the EUR/USD would need hawkish ECB chatter and better-than-expected ZEW Economic Sentiment numbers to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0793 and resistance at $1.08. The Third Major Resistance Level (R3) sits at $1.0892. A fall through the pivot would bring the First Major Support Level (S1) at $1.0655 into play. However, barring a risk-off-fueled sell-off, the EUR/USD pair should avoid sub-$1.06 and the Second Major Support Level (S2) at $1.0593. The Third Major Support Level (S3) sits at $1.0494. Looking at the EMAs and the 4-hourly chart, the EMAs send bullish signals. The EUR/USD sits above the 50-day EMA ($1.06562). The 50-day EMA pulled away from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA, delivering bullish signals. A hold above the 50-day EMA ($1.06562) would support a breakout from R1 ($1.0755) to give the bulls a run at R2 ($1.0793) and $1.08. However, a fall through the 50-day EMA ($1.06562) would bring S1 ($1.0655) and the 200-day ($1.06533) and 100-day ($1.06517) EMAs into play. A fall through the 50-day EMA would send a bearish signal.
Long
by skarantraderq
EURUSD Forecast 01/03/2023The EUR/USD needs to move through the $1.0597 pivot to target the First Major Resistance Level (R1) at $1.0621 and the Tuesday high of $1.06453. A return to $1.06 would signal a bullish session. However, the EUR/USD would need the stats and the ECB chatter to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0670 and resistance at $1.07. The Third Major Resistance Level (R3) sits at $1.0743. Failure to move through the pivot would leave the First Major Support Level (S1) at $1.0548 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.05. The Second Major Support Level (S2) at $1.0524 should limit the downside. The Third Major Support Level (S3) sits at $1.0451. Looking at the EMAs and the 4-hourly chart, the EMAs send a bearish signal. The EUR/USD sits below the 50-day EMA ($1.06213). The 50-day EMA slipped back from the 200-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals. A move through R1 ($1.0621) and the 50-day EMA ($1.06213) would give the bulls a run at the 100-day EMA ($1.06665) and R2 ($1.0670). A move through the 50-day EMA would send a bullish signal. However, failure to move through the 50-day EMA ($1.06213) would leave the Major Support Levels in play.
Long
by skarantraderq
Effect Of GFK Consumer Sentiment Index On EURUSDEURUSD dropped by almost 0.06% as inflation fears increased due to Fed's latest statements. Possible effects for traders Today, Germany will release the second assessment of Q4 GDP and the GFK Consumer Sentiment Index. Another important event is the U.S. PCE report for January. Overall, the Fed seems ready to continue further rate hikes, supporting the U.S. dollar. The EURUSD fell due to high demand for the U.S. dollar and returned to the levels of the year's beginning. The pair remained below 1.06000 within the Asian session, opening a potential for a downside correction to 1.05200. Still, today's economic reports may push EURUSD towards 1.07000.
Long
by skarantraderq
EURUSD (June 14, 2021 [IST])EURUSD Deep to the Ground. EUR/USD is Severely Dropping its Potential Momentum Today Again there is a very low chance of survival. Again EUR/USD could be defeated by Bears. Unexpected Drop has happened at 11 June, 2021. The Reason for the Panic Drop could be the Inflation News. Almost at 11, June, 2021 EUR/USD faced a near death experience. Today chances are low to gain the momentum back. Because, still the traders sentiment are bearish. 1.21862 will serve as Resistance and 1.21061 will Serve as Support. At the time of writing the Support has been Broken. Again a Drop to be expected today. Overall Strength (BEARISH) Thanks for using your Valuable time. Leave a like which helps me to do better. Follow me for Daily Signals, Get updates on, FOREX, Stocks, INDICES, Crypto, #--CFD's to be expected soon. (Share to your Market Friends)
Short
by Young-Money