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EUR/USD_TOM - EUR/USD

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EURUSD_TOM trade ideas

EURUSD bears have further downside to track, focus on 1.1000 EURUSD stays on the back foot ever since it reversed from a multi-month high the last week, despite the latest corrective bounce. The Euro pair’s south run also conquered the resistance-turned-support stretched from early February and gains support from the RSI’s pullback from overbought territory. Adding strength to the downside bias is the looming bear cross on the MACD. With this, the major currency pair is likely to decline further, suggesting a retest to the previous monthly high of around 1.1010. Following that, the 1.1000 psychological magnet and a two-month-old rising support line, close to 1.0940 by the press time, will test the bears. It should be noted that the 100-DMA acts as the final defense of the short-term pair buyers around 1.0885. On the contrary, the ascending trend line from February, near 1.1140 at the latest, restricts the immediate recovery of the EURUSD pair. Following that, 1.1200 and 1.1250 may check the Euro bulls before directing them to the latest peak of around 1.1275. In a case where the buyers remain dominant past 1.1275, the 1.1300 round figure may act as a validation point for the rally targeting the previous yearly of around 1.1500. During the run-up, the 1.1400 threshold can also provide an intermediate halt. Overall, EURUSD is likely to remain bearish as markets await the key central bank meeting decision, including the ECB and the Fed.
by MTradingGlobal
EURUSD bulls still in the game as markets await Fed, ECB playAlthough the EURUSD is all set for the first weekly loss in four, despite refreshing the 17-month high, the buyers aren’t off the board as multiple supports stand tall to challenge the downside ahead of the key week comprising monetary policy meeting from the Fed and the ECB. That said, a three-month-old horizontal support area surrounding 1.1100-1090. Following that, a broad support zone comprising multiple levels marked since early May can challenge the Euro bears between 1.1030 and 1.1000. Even if the quote breaks the 1.1000 psychological magnet, a seven-week-long rising support line near 1.0920 will act as the last defense of the buyers. On the contrary, the EURUSD rebound may initially aim for the support-turned-resistance line near 1.1180 and then to 1.1230 ahead of confronting the 1.1275-80 resistance region comprising levels marked during early 2022. In a case where the Euro pair manages to remain firmer past 1.1280, the previous yearly high of near 1.1500 will be in the spotlight. It should be noted that the pair’s run-up beyond 1.1500 needs to gain support from the hawkish ECB, as well as the dovish Fed, to aim for the late 2021 peak around 1.1700. On a different note, the RSI line slides below the 50 level suggesting brighter chances of a bottom-picking even if the MACD flashes bearish signals. To sum up, EURUSD remains on the buyer’s radar despite the latest retreat as the key event remain on the docket to shake the markets next week.
by MTradingGlobal
Just a simple Thing Uptrend and Downtrend .In Uptrend Market Creates higher high and higher low. In Downtrend Market creates lower high lower low. we have to use these parameters. Combining With Multi time Frame analysis with 1 or 2 indicator . First is Fibonacci Retracement and second is asian range Indicator. STRATEGY ORDER 1. Check the market direction. In 4 hr then check market behavior in 1 hr and entry time frame is 15 min. 2. mark some recentley retest zones on 4 hr. 3. try to find some price action if it is ppossible. 4.use asian range indicator for entry time frame.
Long
by lk9778220
1
EURUSD bulls have multiple challenges in keeping the reinsEURUSD braces for the biggest weekly gain since November 2022 while poking the 16-month high as markets await more clues to confirm the nearness of the Fed’s policy pivot. It’s worth noting, however, that the overbought RSI conditions and an ascending resistance line from November 2022, around 1.1250 by the press time, challenge the buyers of late. Even if the quote remains firmer past 1.1250, the 1.1300 round figure will act as additional checks during the further upside. Following that, the Euro bulls will put their eyes on the previous yearly high of around 1.1500. On the contrary, pullback moves remain elusive unless the EURUSD remains firmer past the previous resistance line from February, near 1.1180 at the latest, as well as the April 2023 high of around 1.1100. A clear break of which can direct the Euro sellers towards February’s high of around 1.1030 and then to the previous monthly high of around 1.1010, quickly followed by the 1.1000 psychological magnet. In a case where the Euro bears dominate past 1.1000, a convergence of the 50-DMA and the 100-DMA, near 1.0850, will be a tough nut to crack for them. Overall, EURUSD remains on the bull’s radar despite witnessing bullish exhaustion.
by MTradingGlobal