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EURUSD Targets 1.2200 if this level holdsEURUSD is grounded inside the MA50 (1D) and MA100 (1D). As long as the MA100 (1D) is holding, then the rise that started in September can be sustained long term in a similar way as the downtrend of 2021-2022 was. The 2021-2022 Bear Cycle was confirmed after the MA50 (1D) crossed under the MA100 (1D). Similarly on December 7th we had the MA50 (1D) crossing over the MA100 (1D) to confirm the new Bull Cycle. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.2200 (close to the -0.786 Fibonacci extension, the same target the Bear Cycle had). This is a long term trade. Tips: 1. The RSI (1D) is proportional to what it was at the start of the Bear Cycle. Please like, follow and comment!!
Long
by TradingBrokersView
1
AUDUSD retests 4H support after CPI dropHi, traders and TradingView community. Today we saw the AUDUSD retreat after Australian CPI data came in at 7.4, well below the 8.1% that had been expected. Unexpected data almost always has more impact on the market than expected, as it has shock effect. 7.4 is still a very firm number for inflation, and you might think, why is that a good thing? The drop is good, and it shows the RBA’s policy is working, and it also starts to put some doubt on the current rates outlook. But we’re wondering just how good it is. Yes, this could have an impact on the current rates policy, but we still feel that rates will have to continue higher to cut this figure back further. The AUDUSD continues to fight back after testing .6700. Price at this point remains in its 4H consolidation pattern. Could the market be thinking it’s a good drop, but work still has to be done? Will we see a retest of .6700 in tonight’s LON session? Buyers have .6752 resistance to beat, and sellers have .6700 to break. These are the 4H levels we are watching on the AUDUSD, and if one of them can be beaten, we will look to see if a new leg can develop. What are your thoughts? Good trading.
by Eightcap
GBPUSD: Buyers pushing a new breakout? Hi traders and TradingView community, today we are looking at the GBPUSD as price has started to show signs of a new breakout. Looking at the GBPUSD, buyers continued to hold at the demand and support area with multiple saves. Sellers made their last push yesterday before buyers flooded back, forcing an engulfing type of candle and halting the minor downtrend. After yesterday’s close, we could see a descending triangle start to form. These patterns can be reversal-type patterns, but as always, we need to see confirmation with a new move out of the pattern. Today we have seen a rejected move lower from sellers that has now turned into a test/break of the pattern. This is a good sign and could be the beginning of a new breakout for the GBPUSD. We want to see buyers hold the break and close out today’s session outside the pattern, and that could tell us that buyers are looking to start a new upleg. If price closes back inside the pattern, that could be seen as a false break, and we would need to see a new move to confirm a break. It’s also a small warning that buyer strength is not as strong as first thought. If we do see a new upswing on the GBPUSD, 1.2170 and then key resistance are the possible areas that could test buyer strength. Good trading.
Long
by Eightcap
3
EURUSD: This pullback is the last macro buy opportunityEURUSD on the monthly chart is inside a Falling Wedge pattern that basically started after the 2008 crisis. The monthly technicals are just turning neutral (RSI = 44.604, MACD = -0.024, ADX = 52.083) for the first time since September 2021 but perhaps the most important indicator is the 1M MACD that formed a Bullish Cross. In the past 20 years at least, every 1M MACD Bullish Cross extended a rally that had already started. The 1M MA50 is our first macro target (TP = 1.1200) with the top of the Falling Wedge being the second (TP = 1.1600). If we were to make a 5 year projection, then the pair should approach at some point the 1M MA200, as it is the Resistaicen since mid 2014, while being the Support prior for 10 straight years. It is therefore a macro pivot level. Falling Wedge patterns tend to break to the upside and that can match its 10 years of the 1M MA200 as Resistance, and break aggressively to the upside, possibly to 1.3000 and beyond. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
Watching divergence on USD indexUSD index has formed divergence. Looking at the daily chart, we can see a familiar pattern forming between price and the 10 CCI. This pattern is called regular divergence, which can tell us that a possible reversal could develop. In today’s analysis, we have run over the divergence pattern we are watching and Friday’s price action, which might give it more substance. From here, we would like to see a new move by sellers that breaks last Friday’s low, and this could confirm that sellers are in control and could look to take price back down to the moving averages. 103 could offer some resistance if reached by sellers, as it was a previous level of consolidation before the last breakout. Focus now will be on sellers and if they can back up Friday’s move with a new push lower. The US has a bank holiday today, which could also be another factor for short-term volatility. Good trading
EIGHTCAP:USDXShort
by Eightcap
EURUSD Bearish short term but strong buys lie below.The EURUSD pair is under the 1D MA50 for the third straight day, turning oversold on the 1D time-frame (RSI = 40.326, MACD = -0.002, ADX = 27.225). This is adding extra sellig pressure on the price with S1 being the first support on its way to lower trading levels. The Fibonacci retracement levels are particularly useful on this price action and assuming the pattern is a Channel Up since the September bottom, we reach the conclusion that a crossing under S1, will push the price to 0.236 Fibonacci and S2 where the 1D MA100 will offer relief and potentially the first wave of buyers. The second wave will be seen if S2 breaks, on the 1D MA200, that happens to be on the exact bottom of the Channel Up. We will buy heavily on those levels (1.0500 and 1.03500) assuming the 1D RSI turns oversold at 30.000, targeting R1 (TP = 1.0800) and then the upper Rs can follow. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
3
EURUSD: Scalping opportunityThe EURUSD pair turned neutral technically both on the 4H timeframe (RSI = 51.027, MACD = -0.001, ADX = 32.294) and 1D (RSI = 48.083, MACD = 0.000, ADX = 32.045) and that creates the conditions for sideways trading. Though the short term pattern may be a Channel Down, we will use the range provided by the Double Top and Double Bottom 1.07900 - 1.0670 to scalp for the rest of the week. This is more or less the 4H Bollinger Bands. Our buy trigger is a break of R1 (1.0800) and we will TP = 1.09150 and sell trigger the bottom of S1 (1.05740) and TP = 1.0500. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
EURCHF: Falling Megaphone rejected on the 1W MA50. Strong sell.The EURCHF pair is being heavily rejected on the 1W MA50, the 1D time frame has turned bearish (RSI = 42.235, MACD = -0.001, ADX = 20.466) and the target is now the S1 (0.97300). Only crossing above the R1 (1.009500) justifies a buy, in which case the target will be R2 (1.051500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
10
USDCHF: Multi year Head and Shoulders formingThe USDCHF pair is forming the Right Shoulder of a Head and Shoulders pattern. For many weeks now it has found Support and is turning sideways within the Shoulders Rectange and can trade within that range for as long as 6 months. This is an excellent sideways trading opportunity. Proof that 1D is technically neutral (RSI = 50.834, MACD = -0.001, ADX = 17.742). When broken, we will turn bearish aiming slightly above the S1 (TP = 0.89750) and S2 (TP = 0.88300). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
EURUSD: Short term update. 1H MA50 holding.Short term update for EURUSD on the 1H timeframe whose technicals are neutral (RSI = 45.855, MACD = 0.000, ADX = 34.784). The reason is this very well structured Channel Up that has just tested the 1H MA50. If it holds, target the 0.382 Fibonacci (TP = 1.0800). If the 1H MA200 breaks, start targeting the 0.5 Fibonacci and 0.618 Fibonacci. Short term strategy only. Invalidation below the 1D MA50. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
8
EURUSD: Best buy long term but 4H MA200 needs to breakEURUSD hit the bottom of the long term Channel Up, as well as the 1D MA50, turning the 1D technicals red (RSI = 46.112, MACD = 0.003, ADX = 28.557) for the first time since January 6th. That was coincidentally the last Higher Lows at the bottom of the Channel Up which kick started a +4.20% rally. The previous Higher Lows also made a +4.20% rally so it is a recurring sequence. Being also on S1, which is holding, we have entered a long aiming just under a new +4.20% projection (TP = 1.11000). The only obstacle is the 4H MA200 which is resisting rather intensively. Failure to break it validates the Jan 3rd - Jan 6th 4H RSI bottom formation, which means that there is one last low to be made before rebounding. We expect that to be on top of S2 near 1.0600, which will be our 2nd buy entry but with a lowered target (TP = 1.1000). If the bottom of S2 breaks, the uptrend is negated and we will turn net short first to S3 and then to the 1D MA200. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope