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#eurobulls

#Euro buyers swing back, Prices Likely To Retest $1.1100Past Performance Euro prices remain volatile, and buyers are cementing their position. Looking at the formation in the daily chart, traders can look to ride the upswing of July 7. Then, Euro prices broke above the consolidation, trending above $1.0930. This development favors bulls in the short term and may trigger Euro demand. #EURUSD Technical Analysis The rejection of lower lows last week places buyers in the driving seat. As such, traders can look for entries on every low above $1.0930, targeting $1.1000 in the short term. This formation aligns with buyers of June 15 even though the current surge has low participation. In light of this, while buyers are optimistic, conservative, risk-on traders can wait for a firm close above $1.1000 with rising volumes before engaging, targeting $1.1100 in a buy-trend formation. Any contraction forcing prices below $1.0930 and reversing July 7 gains nullifies this bullish preview. What to Expect? Traders are upbeat and the Euro is turning the corner, shaking off bear pressure. At this pace, the Euro can rise above $1.1000 and $1.1100 in continuation of the bull run set in motion from March to May 2023. Resistance level to watch: $1.1000 Support level to watch: $1.0930 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Prices Volatile As Bulls Find Strength above $1.0850Past Performance Euro is tracking higher when writing, shaking off this week's weakness, reading from how price action is panning out in the daily chart. Overall, Euro bulls may recover today. However, the support line at $1.0850 is a vital reaction level. The failure of Euro bears to force prices below this line is overly bullish. It may support optimistic traders in the short to medium term. #EURUSD Technical Analysis The support zone is between $1.0800 and $1.0850, aligns with prices bouncing off in recent trading days. From the daily chart, the June 23 and 30 and the July 6 lows recovered from this zone, marking their significance. On the upper end, there must be a conclusive close above $1.0930 for the uptrend to continue. Therefore, based on this arrangement, traders can wait for a clean break above $1.0930, and even $1.1000, before riding the uptrend, trading in the direction of the June 2023 trend. Any dip below $1.0800 will cancel this bullish outlook, allowing sellers to press toward $1.0660 in the medium term. What to Expect? The Euro has been volatile, looking at the formation in the daily chart. Despite the optimism from traders, there must be a definitive breakout (in either direction) for the trend to be defined. In the short term, sellers have a chance provided there is no firm close above immediate liquidation levels. Resistance level to watch: $1.0930 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Weak, Primary Support at $1.0850Past Performance The Euro is under immense selling pressure and edging lower when writing. Per the EUR candlestick arrangement in the daily chart, there could be more losses below the immediate support levels, should the bears press on. As it is, $1.0850 is a critical sell trigger line to watch. Conversely, gains above $1.0930 or June 30 would likely trigger demand. #EURUSD Technical Analysis Sellers have been unrelenting, and the Euro is likely to drop even lower this week. The sell trigger is at $1.0850, aligning price action with the June 23 and 29 bear candlesticks. As it is, a sharp close below the current consolidation could allow sellers to double down on every attempt higher, targeting $1.0800 in the short term. If bears further press on, the next bear target is $1.0660 or May 2023 lows. Conversely, any unexpected revival driving Euro prices above $1.0930 cancels this preview, rejuvenating stretched buyers who may target $1.1000. What to Expect? Euro is overly bullish, but prices must float above $1.1000 for the uptrend to form a buy trend continuation. Per the current formation, the odds of prices tanking to $1.0800 remain high. Resistance level to watch: $1.0930 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Dumps, Retraces from June Highs as Bears Target $1.0800Past Performance From the daily chart, bears are in control, and Euro prices have crumbled below crucial support levels. With prices below $1.0900, the short-term trend is firmly bearish, and sellers can add their shorts, targeting $1.0800 in alignment with the June 23 bear bar. #EURUSD Technical Analysis The wide-ranging, high-volume bar of June 29 invalidated the uptrend of June 27, paving the way for sellers to ride the emerging trend. As it is, every high below $1.0900 may allow traders to unload the Euro while targeting $1.0800 in the short term. This target flashes with the lows of June 15, the conspicuous bar that anchors the current uptrend. Should sellers press on, reversing losses, Euro could crash to $1.0650, or June lows, in a trend confirming sellers of May. What to Expect? Overall, traders are confident, but there could be more losses if today's prices edge lower. In that case, the pullback in the first three weeks of June could be a retracement in a predominantly bearish trend of May, allowing conservative long-time frame traders to add to their shorts. For now, traders should watch whether the June 15 low will be retested. Resistance level to watch: $1.0900 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Euro Choppy, Uptrend Valid Above $1.1000 Past Performance Overly, buyers are upbeat, but the past few trading days have been choppy and highly volatile. From the daily chart, bulls are in control, but the failure of prices to float above $1.1000 or stay below $1.0900 by close of today means traders should watch for conclusive breakouts before committing. #EURUSD Technical Analysis Trading volumes are within range, and the current price action is within a bearish formation. With the losses of June 23 conspicuous and bulls failing to convincingly close above $1.1000, the uptrend momentum is weak. Despite doubts about bulls, buyers have a chance above $1.0900. If not, any firm drop below $1.0900 by the end of the day would easily see the Euro dump to $1.0800, an opportunity for aggressive traders to ride the trend, aligning with the bear bar of June 23. On the flip side, sharp gains above $1.1000 will offer entries for buyers angling for $1.1100 in a buy trend continuation formation, confirming bulls of the March to April range. What to Expect? Euro prices are choppy, but trading volumes are decent and within range. Unless there is a conclusive close above immediate reaction levels, prices will remain in consolidation in an overly bullish trend from a top-down preview. Still, price action favors sellers at spot rates but how bears will press on today could shape the short-term trend. Resistance level to watch: $1.1000 Support level to watch: $1.0900 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Uptrend Remains; Bulls Must Break $1.1000Past Performance Euro is bullish from the top-down preview. Presently, bulls are steady when writing, looking at the performance in the daily chart. Unless there is a total reversal of June 15 and 21 gains, the uptrend remains, and the immediate support line is at $1.900. The rejection of lower lows on June 27 invalidated the bearish outlook as price action swings to favor optimistic bulls. #EURUSD Technical Analysis Losses of June 23 were reversed as buyers flowed back, pumping prices. With prices higher, bulls are back in the picture even though prices are choppy and volatile. Aggressive traders may look for entries above $1.0900 and June 23 close. However, better entries may be above $1.1000 or last week's highs. A high-volume close with the same rapidity as the June 23 bar could easily lift Euro toward $1.1100 and April 2023 high in a buy trend continuation formation. Conversely, sharp losses below last week's lows at $1.0840 cancel this bullish preview. What to Expect? Prices are in range and choppy though the expansion is at the back of increasing volumes pointing to participation. Even though the June 23 bar is important for price action, further gains today above $1.1000 will likely draw even more buyers into the picture, lifting prices even higher. Resistance level to watch: $1.1000 Support level to watch: $1.0900 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Bearish but Price Action In A Tight Trade RangePast Performance Based on the performance in the daily chart, euro prices were fixed in a tight trade range. The immediate trend is bearish, and $1.0900 is a critical reaction level. Moreover, the June 23 bar is an important candlestick as it shapes the short-term trajectory considering that it is wide-ranging and trading volumes are high. #EURUSD Technical Analysis Bears of last week could flow back, pressing the Euro even lower. For this to be valid, there must be a close below $1.0880 by today's close, aligning the emerging trend with the development of the June 23 bar. This, in turn, could allow risk-off traders to align with sellers of the end of last week, targeting $1.0800. Conversely, any breakout above $1.0950, or June 23 highs, with rising volumes would cancel this preview, allowing bulls to take charge. What to Expect? Traders expect a recovery from spot levels toward last week's highs. Even so, before then, traders should closely watch price action, aware that losses below $1.0880 could see bears take charge, possibly forcing prices to $1.0800. Resistance level to watch: $1.0950 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Euro Upswing Cools Off, Buyers Target Retest Of April 2023 HighsPast Performance Euro prices are steady when writing and trending inside the June 15 bull bar. Per the EURUSD candlestick arrangement in the daily chart, every attempt lower but above the $1.0850 support line may offer entries for aggressive traders angling for $1.1100. Any upswing above $1.0970 will trigger demand, pumping the Euro even higher. EURUSD Technical Analysis Currently, traders are upbeat, and the candlestick arrangement favors bulls. Provided prices are inside the June 15 bar; Euro buyers have the upper hand from an effort-versus-result perspective. Subsequently, traders can look to load the dips above $1.0850 or, more conservatively, above $1.0970, targeting $1.1100 and aligning with last week's buyers. This preview will be nullified if Euro prices dump below $1.0800, reversing gains of the anchor bar of June 15. What to Expect? Euro prices are relatively weak and possibly correcting the overvaluation of last week. The uptrend remains, and technical candlestick formation supports optimistic bulls. Since the retracement is with lighter volumes, the odds of buyers resuming the uptrend remain high. R esistance level to watch: $1.0970 Support level to watch: $1.0850 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Euro Contracts, Uptrend Remains But Support at $1.0800Past Performance Based on the daily chart, euro prices are bullish, reading from last week's solid performance, but are now lower. Following the rapid expansion on June 14, the cool-off on June 15 means an element of overvaluation. Subsequently, Euro prices might contract but remain bullish if prices are inside the June 14 bullish engulfing bar. #EURUSD Technical Analysis The uptrend remains, and Euro buyers are in control, anchored by last week's gains. The cool-off of June 15 and 19 will likely continue. Notice that prices on June 20 were above the upper BB in the daily chart. This formation suggests that the uptrend is oversold and the currency, at spot rates, is above equilibrium. Subsequently, the Euro might track lower, likely towards the $1.0850 zone, for a balance to be struck. Any sharp close above $1.0970 nullifies this preview. However, aggressive traders may look to short on lower time frames targeting $1.0850. Losses below $1.0800 nullify this bullish outlook. What to Expect? Buyers are confident, but Euro prices appear overvalued. As such, traders can look for entries to short with targets at June 14 lows. Even so, the uptrend remains, and this immediate forecast will be void if Euro prices surge above $1.0970. Resistance level to watch: $1.0970 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Rallying, Bulls Targeting April Highs at $1.1100Past Performance The Euro bounce is clear, and the currency is now up 2.95% from June 2023 lows. As it is, every attempt lower but within the June 15 bar is an opportunity to load up, targeting $1.1100 or April 2023 highs. Any dump below $1.0770 will nullify this preview. #EURUSD Technical Analysis The June 15 bar is wide-ranging, with decent volumes pointing to high engagement. Even though the bar confirms the bullish breakout of June 8, which also forced prices above the middle BB—or the 20-day moving average, it may be climactic. Therefore, though the first target is $1.1100, a retracement within the June 15 bar at around $1.0800 may allow aggressive traders to double down, aiming to ride the leg up. For now, the trend continues the March to April bull trend. Any loss below $1.0770 invalidates this preview. What to Expect? Euro may expand further towards $1.1100 in the days ahead. The primary trend is bullish, in sync with gains from March to April. With prices recovering from around $1.0600, the 78.6% Fibonacci retracement level of the March to April 2023 range, the Euro could retest $1.1100. Resistance level to watch: $1.1100 Support level to watch: $1.0800 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Firm after FED Paused Rate Hikes, Bulls Target $1.1100Past Performance The Euro is firm at spot rates. While the FED's move to briefly pause interest rate hikes forced the currency lower in the NY session, the uptrend is clear. As such, every low above $1.0770 offers entries for aggressive traders angling for $1.0950 and $1.1100 in the medium term. #EURUSD Technical Analysis The uptrend is clear, and the Euro is bottoming up. In a bullish breakout formation, the currency trades above the dynamic resistance, now support, marked by the 20-day moving average. At the same time, it is above the $1.0770 resistance level, currently support, marking June 8 highs. This optimistic preview holds provided prices are above this clear support line, at $1.0770. As such, every low offers entries for aggressive and optimistic traders expecting an eventual retest of April highs as the price trend aligns with the March to April 2023 formation. What to Expect? The USD is firm, but price action currently supports Euro bulls. The Euro is bullish above $1.0770 and may form the basis for even more gains towards $1.0900 or better in sessions ahead. Resistance level to watch: $1.0950 Support level to watch: $1.0770 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Bulls Revival, EUR Rejects $1.0770 As Buyers Double DownPast Performance The Euro is higher when writing, looking at the performance in the chart. With dropping inflation in the US, bulls got the impetus to double down, driving the Euro above $1.0770. The recovery is a welcomed development for the Euro following weeks of lower lows. Since the June 13 bar had high volumes, bulls may build on from there, ramping up on dips, targeting $1.0850 in the days ahead. #EURUSD Technical Analysis The June 8 bar anchors the current formation. The bar had high volumes and was wide-ranging, signaling the end of the bear run that dominated May. As it is, every attempt lower above $1.0770 may offer entries for buyers to load up, targeting $1.0850, the immediate resistance level. Notice a sharp response yesterday after the lull on June 11. This resurgence is a confidence boost for optimistic buyers targeting even more recovery in the upcoming session. Any dump below $1.0700 will nullify this bullish outlook. What to Expect? Traders are upbeat, and the uptrend, at least in the short-term, in alignment with the June 8 bull bar, is valid at spot rates. With every retracement from June 13 highs, traders might find entries to ride the developing uptrend. Resistance level to watch: $1.0850 Support level to watch: $1.0770 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Gains Constrained, Upside Remains above $1.0700Past Performance The uptrend remains, and the Euro could edge higher in the days ahead despite the long upper wick suggesting liquidation in the closing session of June 12. However, the bullish outlook remains provided Euro is above $1.0700 or June 8 low. #EURUSD Technical Analysis Technically, the path of least resistance is southwards from a top-down preview. Even so, following a 3.6% drop from April highs, Euro is finding support from the 78.6% Fibonacci retracement level of the March to April trade range. As such, the short-term preview is bullish, with the June 8 bullish engulfing bar anchoring this outlook. As it is, any break above June 8 highs at $1.0800, ideally with expanding volumes, may see the Euro float higher in recovery towards $1.0850 and $1.0950. Conversely, any dip below $1.0700 nullifies this optimistic outlook. What to Expect? Aggressive traders may look for entries on dips within the June 8 bar, accumulating as they expect gains from an effort-versus-result perspective. Provided prices are above $1.0700, the path of least resistance in the short term is northwards. Resistance level to watch: $1.0800 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Set for Recovery, Bulls Must Hold above $1.0750Past Performance There are attempts at higher highs in the daily chart. After losses throughout May, the downtrend could be over for the euro. Even so, the failure of bulls to push higher on June 9 questions the strength of the uptrend. The immediate support lies at $1.0750; if euro edges higher today, there may be more upsides in the days ahead. #EURUSD Technical Analysis Buyers are confident, looking at the daily chart. The bull bar of June 8 is bullish engulfing and broke above $1.0750. However, with bulls failing to confirm the uptrend last week, how prices react today could shape the immediate-term trend. Nonetheless, per the candlestick arrangement in the daily chart, aggressive euro traders may look for entries to buy the dip above June 8 lows at $1.0690 while aiming at $1.0950 or better in the sessions ahead. Any dump below this line invalidates this preview, paving the way for sellers to press on targeting $1.0500. What to Expect? The long-term preview supports bears, but the trend is shifting, looking at the daily chart. If the euro closes above $1.0750 by today's close, there might be more gains in the sessions ahead as the currency recovers. Resistance level to watch: $1.0950 Support level to watch: $1.0750 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro Tears Higher, Foundation for Rally Back To $1.1100?Past Performance The recent accumulation of the Euro prices ended supporting buyers, looking at the performance in the daily chart. The Euro is trading above immediate resistance, support, and the middle BB—a net positive. From the candlestick arrangement, every dip above $1.0770 may offer an entry for optimistic traders as buyers likely extend their gains. #EURUSD Technical Analysis The rally on June 8 is a confirmation of the June 1 bull run. Although participation was relatively low, it is within range, supporting this emerging formation. As the Euro breaks higher, traders may find entries on dips above $1.0770 or within the June 8 bar should prices correct today. In that case, this outlook will remain valid, provided prices are above $1.0700. The immediate target for Euro buyers is $1.0850 and $1.0900 in the medium term. What to Expect? Following sharp losses throughout May, the Euro is bouncing from the 78.6% Fibonacci retracement level of the March to April 2023 trade range. At this pace, the Euro could eventually retest April highs at $1.1100 in a buy trend resumption formation. Resistance level to watch: $1.0850 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Euro prices flat-line above $1.0660, Bear Run Likely OverPast Performance Euro prices remain in consolidation within a tight range. From the daily chart, the least path of resistance is southwards, especially as long as prices are below $1.0770. Presently, USD bulls' momentum seems to be fading while Euro is finding strength above $1.0600. The results are balanced candlesticks with long upper and lower wicks, suggesting equilibrium. #EURUSD Technical Analysis EUR prices are inside the June 1 bull bar, an indicator of strength. From an effort-versus-result perspective, traders can find entries on every dip above $1.0660, targeting $1.0770 in the short term. However, for conservative, risk-on bulls, a close above the high of the high-volume, bullish engulfing bar of June 1 can offer better entries. Notably, the bar forms as EUR candlesticks print higher highs relative to the lower BB, suggesting that the downside momentum is waning. Still, as mentioned, a comprehensive breakout above the minor bear flag at $1.0770 can anchor the leg up toward $1.0850 in subsequent sessions. What to Expect? Buyers are confident as the downside momentum fades. Overall, traders are bullish, but this can only be confirmed once there is a follow-through, confirming buyers of June 1. As a result, the $1.0770 liquidation level is a vital buy trigger for optimistic Euro bulls. Resistance level to watch: $1.0770 Support level to watch: $1.0660 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Rejects Sellers at $1.0660, Is The Bear Run Over?Past Performance The Euro remains volatile when writing, shaking off bears, and rejecting attempts for lower lows. With the June 5 bar closing with a long lower wick, it could suggest that the Euro found support in the late European and NY trading sessions. The immediate support and sell trigger lines remain at $1.0660 and $1.0600. #EURUSD Technical Analysis Overall, sellers have the upper hand. However, looking at the daily chart, prices are moving horizontally. Notably, the rejection of lower prices, clear in lower time frames, could form the base of a leg up towards $1.0850. Already, there is evidence of strength in the daily chart as the Asian session started off a strong footing. Still, before the shift turns bullish, traders should watch how prices react at the top of the current range at around $1.0780, marking June 2 high. A conclusive, high-volume break out propelling the Euro to new highs may trigger demand, setting the base for a leg up towards $1.1100 in the medium term. What to Expect? Euro prices remain in a broader consolidation. Even so, the leg higher and rejection of lower prices on June 5 may signal the end of the bear run. Therefore, conservative traders can wait for a clear breakout above $1.0780 before buying on dips targeting April highs. Any dump below $1.0660 and later $1.0600 cancels this preview and would fuel a sell-off towards $1.0500. Resistance level to watch: $1.0780 Support level to watch: $1.0660 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Dropping, USD Bulls Targeting 1.0860 in a BreakoutPast Performance Euro bulls are losing momentum, allowing USD bulls to double down. As it is, EURUSD is within a bearish formation with primary resistance at $1.1100. With prices below the middle BB and 1.0965 broken, sellers can look for entries with targets at 1.0860 and 1.0730 being immediate and medium-term targets. #EURUSD Technical Analysis After sharp gains from March through April, prices are cooling off in a welcomed retracement. There is a double top following rejections of bulls early this month. Since prices are below the middle BB and 1.0965, breaking out below the range, traders can search for unloading opportunities. Tight resistance remains at 1.0965, but ideally, resistance remains at 1.1100. Short targets will be at 1.0860 and 1.0730, key reaction points of the Fibonacci retracement levels of the March to April trade range. What to Expect? USD bulls will likely press on, reading from the current sharp losses in the European session. Prices are dropping as USD bulls have broken below yesterday's lower range. As such, the bearish preview stands as long as prices are below the middle BB and $1.1100 Resistance level to watch: 1.1100 Support level to watch: 1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Slips Below Trade Range in Distribution, Back to 1.0730?Past Performance The Euro uptrend could be over, reading from the price action in the daily chart. For the first time in roughly seven weeks, USD bulls pushed prices below the middle BB or the 20-day moving average. This follows the high volume rejection of higher prices on May 4 from around the 1.1100 primary resistance. #EURUSD Technical Analysis The breakout below the dynamic support is with light volumes, nearly half those posted on May 4 when a double bar bear pattern printed. With the Euro reversing gains and prices falling below the critical support at the middle BB and 1.0965, traders can look for entries. As it is, every attempt towards the recent trade range may offer entries for sellers targeting 1.0730. This preview will be null once the Euro rallies above 1.1100, with high participation levels preferably exceeding those of May 4. What to Expect? After weeks of higher highs, the upside momentum is fading, allowing USD bulls to take charge. Any confirmation of yesterday's losses could begin another leg down. The next support is 1.0730 marking the 61.8% Fibonacci level of the March to April trade range. Resistance level to watch out: 1.1100 Support level to watch out: 1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Firm After a 4.5% Rally, Is The Bull Run Over?Past Performance Euro prices remain in a range, evident in the daily chart. Even though the uptrend remains, the failure of buyers to break above 1.1100 points to weakness. As it is, USD bulls appear to be building up momentum. Still, the uptrend remains provided prices range above 1.0965, the local support level. #EURUSD Technical Analysis The consolidation of prices may offer an opportunity for swing traders to exit their longs. This is because the upside momentum is fading, and volatility is dropping as prices diverge from the upper BB. In a choppy market, conservative traders can wait for a conclusive breakout in either direction. Losses below 1.0965 with rising volumes may open opportunities for bears targeting 1.0865. Conversely, a spring above 1.1100, with expanding volumes, may anchor the next leg higher towards 1.1200 or better. What to Expect? Prices are consolidating though the uptrend remains. As it is, buyers have a chance above 1.0965 though losses below this level may mark the beginning of a trend shift in favor of sellers. Note that the Euro is up 4.55% from March 2023. Resistance level to watch out: 1.1100 Support level to watch out: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Bulls Firm, Will Prices Rally Above 1.1100?Past Performance The uptrend remains, but USD bulls are rejecting attempts higher. From the daily chart, primary resistance lies at 1.1100, marking May 4 highs. The failure of prices to move higher last week supports bears. There must be a sharp dump below 1.0965 and the middle BB, or the 20-day moving average, for sellers to fully take control. #EURUSD Technical Analysis The uptrend remains, but there is a double top forming. With prices flat-lining at spot rates, diverging from the upper BB, there could be signs of dropping upside momentum. Still, EUR bulls have the upper hand, provided prices are above the middle BB and 1.0965. As it is, traders can wait for a confirmation of the May 4 bar. In that case, losses below 1.0965 with expanding volumes may see USD bulls drive prices back to 1.0865 in a bear trend continuation formation. Any rally above 1.1100 with the same rapidity cancels this bearish outlook. What to Expect? EURUSD is consolidating at spot rates after a superb performance by EUR bulls. Still, there must be a convincing breakout above the current range for trend definition. Any upswing will confirm buyers of March, cementing Euro bulls' dominance. Resistance level to watch: 1.1100 Support level to watch: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Contracts, USD Bulls Find Reprieve after 2 Month Bear RunPast Performance Euro prices are lower as USD bulls rejected attempts for higher highs. The immediate resistance lies at 1.1100, as a double top will likely print in the upcoming sessions. A notable development when prices rejected higher prices on May 4 was the rise in trading volumes. This may suggest that USD bulls are keen to participate, a move that could press the Euro further in the days ahead. #EURUSD Technical Analysis The rejection of higher highs on May 4 prints out at a critical resistance level. The 1.1100 resistance line flashes with April resistance. It is also within the same range as February peaks. While bearish, how prices move in the next few days depends on if USD bulls press on. Any breakout below the current range at 1.0960 may trigger a sell-off towards 1.0850 and 1.0750. These are critical Fibonacci retracement levels of the March to April 2023 trade range. What to Expect? USD bulls are confident, and the EUR Bull Run could be over. This depends on whether prices drop below the immediate support level today or in sessions ahead. Any upswing above 1.1100 will invalidate the bearish preview, allowing Euro bulls to continue with the upswing from early March. Resistance level to watch: 1.1100 Support level to watch: 1.0960 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Retesting Key Resistance Line, Double Top Forming?Past Performance Euro bulls have the upper hand, printing higher highs in the daily chart. Gains of May 3 were conspicuous but failed to break out above 1.1100. Still, the bulls have the upper hand despite the clear double-top forming. #EURUSD Technical Analysis The Fed raised rates but didn't push the Euro above the immediate resistance level. The May 3 bar closed with a long upper wick suggesting sell-off in the tail end. Moreover, trading volumes are lighter, hinting at weakness after a strong performance in the last five months. As prices consolidate and momentum drops, traders should watch out for how prices react at 1.1100 on the upper hand and 1.0965 on the lower end. For bears to take charge, a high volume bar must break below 1.0965, confirming the bearish engulfing bars of April 14 and 25. Conversely, a break above April highs may see the Euro extend gains, powering towards 1.12. What to Expect? Euro bulls are in control following a 5% gain since January. There is a possible double-top forming, and momentum is waning, questioning the strength of the upsides. In the days ahead, a comprehensive, wide-ranging breakout above immediate resistance will rejuvenate demand, further pumping the Euro. Resistance level to watch out for: $1.1100 Support level to watch out for: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer