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U.S. DOLLAR / EURO REFERENCE RATE

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EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
Part 1 - EUR/USD: Monthly Examination Utilizing Varied Approach Price action Breakdown Analysis: It is the EURUSD monthly timeframe, and it shows a downtrend for more than 15 years. The price has settled in a downward value area. Elements of price action Breakdown: Excess: There are nine price excesses, four on the upper band and five on the lower band. It shows that the sellers were too aggressive when the price touched the upper band of the channel in comparison with the lower band at buyers. Buyers/Bulls tries makes the initiative to breakout the structure but end up when another party finds the price convenient for them. Control line: The control line represents the gravitational force to the price. The price can’t stay away until it breaks the range. There are twelve touches on the control line, and few are mentioned on the chart. No Trading Activity Zone: No trading activity is the zone where one party, either bull or bear, takes control and outnumbers the other. There are a total of 14 no-trading activities zone. Both of the participants have seen each other. Sub-value area: A rectangle sub-value area has taken place from March 2015 till now. An excess became a great place to buy the move, yet the upper band of the sub-value area provides strong resistance. The control line of this value area at 1.1480 is sharp enough to act as a pivot level. It could be a resistance to the current price. Trend Justification: Justification for the current market trend and the behavior of bulls and bears can be derived from four prominent lines on the chart. Line 1, the lengthiest on the chart, connects the points from 1.5760 to the latest high at 1.2555. This line also intersects with the second line, indicating that a breakout in one line would likely trigger a simultaneous breakout in both lines. Line 2 stands out as the most robust resistance line, evidenced by the price experiencing significant declines on more than three occasions upon reaching this line. Therefore, the continuation of the uptrend appears contingent upon a successful breakout above resistance line 2. lliott Wave Projection: According to Elliott wave analysis, the price has been undergoing a W-X-Y-X-Z formation, specifically identified as a triple zigzag, over a span of 15 years. The sequence involves the completion of wave (X) and the initiation of a downward impulsive wave denoted as (Z). The Wave Formation unfolds as follows: Wave (W): A flat correction pattern characterizes the formation of Wave (W). Wave (X-1): Wave (X) takes shape in a standard zigzag formation, retracing 78.6% of Wave (W). Wave (Y): This phase sees the construction of a zigzag pattern within Wave (Y), extended 1.618% of Wave (W) Wave (X-2): Wave (X) materializes as an expanding triangle, retracing 50% of Wave (Y). Wave (Z): The ongoing Wave (Z) is currently in progress, appearing to form sub-wave C. Notably, Wave (Z) has extended to 78.6% of Wave (Y). For Bulls traders, a prudent entry point is identified as the breakout of Wave (X) at the level of 1.2349. No risky trader should initiate Long position until it breaks out Line 1 & Line 2.Wave (Y) = Wave (Z) at 0.8838. So, After the accomplishment of sub-wave B of wave (Z), traders can sell for final wave C of wave (Z). Line 3, marked at 1.23427, serves as a horizontal resistance line. This line has played a crucial role, offering three supports and encountering two resistances. A substantial upward movement could potentially alter the overall trend post-breakout, given that it represents a lower high in the downward trend. Line 4 represents a support level in close proximity to the current price, suggesting a potential stabilizing factor for the market at its current position. Different pattern Formation: Traders can see the following patterns on the monthly charts: 1. Wamine pattern 2. Contracting Triangle 3. Wave Diagonal 4. Expanding Triangle 5. ABCD Pattern 6. Moolahs pattern We will Update Further information on weekly & Daily time frame soon.
by forextidings
EURUSD slides beneath key support as Fed’s Powell defends hawksEURUSD dropped to the lowest level in two months after Federal Reserve (Fed) Chairman Jerome Powell firmly pushed back the March rate cut. The same allowed the Euro pair to keep the previous day’s downside break of a 1.0810 support confluence comprising the 200-bar Exponential Moving Average (EMA) and a four-month-old rising trend line. Additionally keeping the sellers hopeful are the bearish MACD signals. However, the below 50.0 level of the RSI (14) line raises doubts about the downside momentum and hence the bears need validation from December’s low of around 1.0720 to tighten the grips. Following that, October’s high of 1.0695 and early November swing low surrounding 1.0655 will be in the spotlight. Alternatively, the EURUSD rebound needs acceptance from the support-turned-resistance confluence of around 1.0810 and the US ISM Services PMI. Even so, a downward-sloping resistance line from early January, close to 1.0875 at the latest, quickly followed by the 1.0900 threshold, will act as the final defense of the Euro sellers before giving control to the bulls. It’s worth noting, however, that the quote’s successful trading above 1.0900 enables the buyers to aim for the 1.1000 psychological magnet and November’s peak near 1.1020. Overall, EURUSD teases bears on hawkish Fed concerns but the road toward the south appears long and bumpy.
by MTradingGlobal
EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
EURUSD: bullish or bearish?Dear friend, EURUSD continues its losing streak this week, with the price of this currency pair trading around the 1.081 level and struggling to find any significant support on the chart. The primarily influencing factors are market news and investor sentiment, along with the volatility of the USD. If sellers regain control, EUR/USD could potentially return to the lows around 1.075 and possibly even 1.066. These are two significant support levels to watch. Conversely, if conditions favor EURUSD, it could bounce back from those levels and move higher.
by RKarina