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EURUSD FORECAST 29TH MARCH 2023EUR/USD Bulls to Target $1.0850 on German Consumer Confidence It is a relatively busy day for the EUR/USD, with German and French consumer confidence and ECB commentary to draw interest. The EUR/USD needs to avoid the $1.0829 pivot to target the First Major Resistance Level (R1) at $1.0862. A move through the Tuesday high of $1.08485 would signal a bullish session. However, the EUR/USD needs hawkish ECB chatter and better-than-expected consumer confidence 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 $1.0882 and resistance at $1.09. The Third Major Resistance Level (R3) sits at $1.0936. A fall through the pivot would bring the First Major Support Level (S1) at $1.0809 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.075. The Second Major Support Level (S2) at $1.0775 should limit the downside. The Third Major Support Level (S3) sits at $1.0721. Looking at the EMAs and the 4-hourly chart, the EMAs send bullish signals. The EUR/USD sits above the 50-day EMA ($1.07746). The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA, delivering bullish signals. A hold above the Major Support Levels and the 50-day EMA ($1.07746) would support a breakout from R1 ($1.0862) to give the bulls a run at R2 ($1.0882) and $1.09. However, a fall through S1 ($1.0809) would bring S2 ($1.0775) and the 50-day EMA ($1.07746) into play. A fall through the 50-day EMA would send a bearish signal.
Long
by skarantraderq
EUR/USD to Target $1.09 on Easing Bank Jitters and ECB ChatterThis morning, the EUR/USD was up 0.13% to $1.08107. A mixed start to the day saw the EUR/USD fall to an early low of $1.07949 before rising to a high of $1.08195. The First Major Resistance Level (R1) at $1.0817 capped the upside. The EUR/USD needs to avoid a fall through the $1.0781 pivot to retarget the First Major Resistance Level (R1) at $1.0817 and the morning high of $1.08195. A move through the morning high would signal a bullish session. However, the EUR/USD needs hawkish ECB chatter and better-than-expected business survey 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 $1.0836 and resistance at $1.0850. The Third Major Resistance Level (R3) sits at $1.0891. A fall through the pivot would bring the First Major Support Level (S1) at $1.0761 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.07. The Second Major Support Level (S2) at $1.0725 should limit the downside. The Third Major Support Level (S3) sits at $1.0670. Looking at the EMAs and the 4-hourly chart, the EMAs send bullish signals. The EUR/USD sits above the 50-day EMA ($1.07576). The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA, delivering bullish signals. A hold above S1 ($1.0761) and the 50-day EMA ($1.07576) would support a breakout from R1 ($1.0817) to give the bulls a run at R2 ($1.0836) and $1.0850. However, a fall through S1 ($1.0761) and the 50-day EMA ($1.07576) would bring S2 ($1.0725) into play. A fall through the 50-day EMA would send a bearish signal.
Long
by skarantraderq
EURUSD 27TH MARCH FORECAST The EUR/USD needs to avoid a fall through the $1.0770 pivot to target the First Major Resistance Level (R1) at $1.0828. A return to $1.08 would signal a bullish session. However, the EUR/USD needs hawkish ECB chatter and better-than-expected business survey numbers to support a breakout session. In the case of an extended rally, the bulls will likely test resistance at the Friday high of $1.08386 but fall short of the Second Major Resistance Level (R2) at $1.0896. The Third Major Resistance Level (R3) sits at $1.1022. A fall through the pivot would bring the First Major Support Level (S1) at $1.0702 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.0650 and the Second Major Support Level (S2) at $1.0645. The Third Major Support Level (S3) sits at $1.0519. Looking at the EMAs and the 4-hourly chart, the EMAs send bullish signals. The EUR/USD sits above the 50-day EMA ($1.07479). The 50-day EMA moved away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA, delivering bullish signals. A hold above the 50-day EMA ($1.07479) would support a breakout from R1 ($1.0828) to give the bulls a run at the Friday high of $1.08386 and R2 ($1.0896). However, a fall through the 50-day EMA ($1.0479) would bring the 100-day EMA ($1.07102) and S1 ($1.0702) into play. A fall through the 50-day EMA would send a bearish signal.
Long
by skarantraderq
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 16TH MARCH 2023The EURUSD pair’s strong decline stopped at 1.0515 yesterday, which formed solid support against the price, to rebound bullishly and start building bullish wave on the intraday basis, motivated by stochastic positivity. Therefore, we expect to witness more bullish bias in the upcoming sessions, and the targets begin at 1.0640 and extend to 1.0745 after surpassing the previous level. On the other hand, we should note that breaking 1.0515 will stop the expected rise and press on the price to suffer additional losses that reach 1.0440. The expected trading range for today is between 1.0515 support and 1.0680 resistance. The expected trend for today: Bullish
Long
by skarantraderq
EURUSD 10TH MARCH 2023The EUR/USD needs to avoid the $1.0569 pivot to target the First Major Resistance Level (R1) at $1.0601. A return to $1.06 would signal a bullish session. However, the EUR/USD would need hawkish ECB chatter and US stats to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0623 and resistance at $1.0650. The Third Major Resistance Level (R3) sits at $1.0678. A fall through the pivot would bring the First Major Support Level (S1) at $1.0547 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 $1.0515 should limit the downside. The Third Major Support Level (S3) sits at $1.0460. Looking at the EMAs and the 4-hourly chart, the EMAs send bearish signals. The EUR/USD sits below the 50-day EMA ($1.06006). The 50-day EMA eased back from the 100-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals. A move through the 50-day EMA ($1.06006) and R1 ($1.06010) would give the bulls a run at R2 (1.0623) and the 100-day EMA ($1.06300). However, failure to move through the 50-day EMA ($1.06006) would leave S1 ($1.0547) in play. A move through the 50-day EMA would send a bullish signal.
Short
by skarantraderq
EURUSD FORECAST 9TH MARCH,2023The EUR/USD needs to avoid the $1.0547 pivot to target the First Major Resistance Level (R1) at $1.0569 and the Wednesday high of $1.05739. A return to $1.0550 would signal a bullish session. However, the EUR/USD would need hawkish ECB chatter and US stats to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0596 and resistance at $1.06. The Third Major Resistance Level (R3) sits at $1.0646. A fall through the pivot would bring the First Major Support Level (S1) at $1.0519 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.0450. The Second Major Support Level (S2) at $1.0497 should limit the downside. The Third Major Support Level (S3) sits at $1.0447. Looking at the EMAs and the 4-hourly chart, the EMAs send bearish signals. The EUR/USD sits below the 50-day EMA ($1.06058). The 50-day EMA slid back from the 100-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals. A move through R1 ($1.0569) would give the bulls a run at R2 (1.0596) and the 50-day EMA ($1.06058). However, failure to move through the 50-day EMA ($1.06058) would leave S1 ($1.0519) in play. A move through the 50-day EMA would send a bullish signal.
Long
by skarantraderq