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EURUSD 9 May 2024 W19 - Intraday Analysis - US Jobless ClaimsThis is my Intraday analysis on EURUSD for 9 May 2024 W19 based on Smart Money Concept (SMC) which includes the following: Market Sentiment 4H Chart Analysis 15m Chart Analysis Market Sentiment Nothing changed since the start of the week and as per Tuesday sentiment, investors are waiting for a catalyst to have a clear policy direction for the upcoming quarter. 4H Chart Analysis 1. Swing Bearish Internal Bullish Reached Swing EQ INT Structure Pullback Phase 2. Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets. 3. Nothing much changed since yesterday as we just tapping into a demand zone (FLIP) that may provide some bullish reaction. INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply. Currently with INT Structure is Bullish we don't have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish. More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation. 15m Chart Analysis 1. Swing Bullish Internal Bullish Long : Phase B (LP) Short : Phase C (HP) 2. Finally we are barely out from Friday NFP Range and price still ranging with clear direction. With a Bearish iBOS we confirmed the 15m Swing Pullback. Currently price tapped and formed Bullish Sub-Internal Structure that is facilitating the INT Pullback. Not convinced much of Longs as per our position in the HTF (Tapped into Daily Supply), instead will follow the Bearish INT Structure and look for Shorts from 15m Supply that are well positioned within the Swing. 3. 15m/4H Demand zones for possible longs one reached.
by Amr-Sadek
EURUSD: 1D MA50-200 rejection. Strong sell.EURUSD is neutral on its 1D technical outlook (RSI = 51.370, MACD = -0.001, ADX = 29.673) as it got rejected on the 1D MA50-MA200 level, which stopped the bullish wave of the Channel Up from extending higher and potential breaking the pattern. The 1D RSI is on the stage where it should reverse as per March 12th. This is a strong sell signal, TP = 1.05550 (the 1.236 Fibonacci extension level). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
3
EURJPY to turnaround?EURJPY - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The hourly chart technicals suggests further upside before the downtrend returns. Preferred trade is to sell into rallies. Although the anticipated move lower is corrective, it does offer ample risk/reward today. Our profit targets will be 165.50 and 165.20 We look to Sell at 167.40 (stop at 168.10) Resistance: 168.95 / 171.20 / 175.50 Support: 164.30 / 161.90 / 160.00 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURUSD - 📈 => 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), EURUSD rejected our blue circle zone and traded higher. What's next? 📈 EURUSD has been overall bearish long-term , trading within the falling wedge pattern in red. Currently, EURUSD is approaching the upper bound of the wedge pattern. Moreover, the green zone is a strong resistance. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. 📚 As per my trading style: As #EURUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
EURUSD 8 May 2024 W19 - Intraday AnalysisThis is my Intraday analysis on EURUSD for 8 May 2024 W19 based on Smart Money Concept (SMC) which includes the following: Market Sentiment 4H Chart Analysis 15m Chart Analysis Market Sentiment Nothing changed since the start of the week and as per yesterday sentiment here, investors are waiting for a catalyst to have a clear policy direction for the upcoming quarter. 4H Chart Analysis 1. Swing Bearish Internal Bullish Reached Swing EQ INT Structure Pullback Phase 2. Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets. 3. Nothing much changed since yesterday as we just tapping into a demand zone (FLIP) that may provide some bullish reaction. INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply. Currently with INT Structure is Bullish we don't have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish. More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation. 15m Chart Analysis 1. Swing Bullish Internal Bullish Long : Phase B (LP) Short : Phase C (HP) 2. Finally we are barely out from Friday NFP Range. With a Bearish iBOS we confirmed the 15m Swing Pullback. Currently price tapped into a 4H Demand which could initiate the INT Structure PB. Bullish CHoCH will be the first sign that the INT PB is starting. Not convinced much of Longs as per our position in the HTF (Tapped into Daily Supply), instead will follow the Bearish INT Structure and look for Shorts from 15m Supply that are well positioned within the Swing. 3. 15m/4H Demand zones for possible longs one reached.
by Amr-Sadek
Could EUR/JPY reverse from here?The price is rising toward a resistance level, which serves as a pullback resistance that aligns with the 61.8% Fibonacci retracement; it could reverse from this level toward our take profit. Entry: 167.15 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 168.62 Why we like it: There is a pullback resistance level. Take profit: 164.05 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EUR/CHF heading into 61.8% Fibonacci resistance?Price is rising towards a resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.97973 Why we like it: There is a pullback resistance level which lines up with the 61.8% Fibonacci retracement. Stop loss: 0.98353 Why we like it: There is a pullback resistance level. Take profit: 0.97218 Why we like it: There is an overlap support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EUR/USD Ready to short!(5/7/2024)In our last analysis, EUR/USD FX:EURUSD Continued the mini bullish move(retracement) and right now the price is ranging. We believe the price has finished the correction phase and is ready to start a new bearish move. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.
Short
by fortunamarkets
Sell EURCAD Channel BreakoutThe EUR/CAD pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This breakout suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4730 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4677: This represents the first level of support within the channel. 1.4645: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4745. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
4
EURUSD 7 May 2024 W19 - Intraday Analysis - EU Retail SalesThis is my Intraday analysis on EURUSD for 7 May 2024 W19 based on Smart Money Concept (SMC) which includes the following: Market Sentiment 4H Chart Analysis 15m Chart Analysis Market Sentiment Today's sentiment for EUR/USD pair is shaped by pivotal occurrences from the previous week. The release of weaker-than-anticipated Non-Farm Payroll (NFP) data prompted a decline in the US dollar, lending some buoyancy to the EUR/USD pair. Additionally, the Federal Open Market Committee (FOMC) statement and remarks from Federal Reserve Chair Jerome Powell wielded considerable influence. The FOMC opted to maintain the policy interest rate and continue tapering securities holdings. Powell reiterated the Fed's unwavering commitment to achieving their 2% inflation target. Consequently, there's a prevailing bearish sentiment towards the US dollar, keeping the EUR/USD pair comfortably above the 1.0750 threshold. However, the market remains vigilant ahead of this week's data releases. 4H Chart Analysis 1. Swing Bearish Internal Bullish Reached Swing EQ INT Structure Pullback Phase 2. Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets. 3. INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply. Currently with INT Structure is Bullish we don't have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish. More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation. 15m Chart Analysis 1. Swing Bullish Internal Bullish Long : Phase A2 Short : Phase D 2. Nothing changed since yesterday, price still ranging! Swing failed to continue Bearish and with NFP we created a Bullish BOS which reached the Daily Supply Zone. After a BOS we expect a Pullback. INT structure is Bullish which means we still in Bullish continuation. With the 4H created a Bullish iBOS and requesting a Pullback, i prefer to look for Shorts after a Bearish iBOS. Longs will be ideal for me when we reach the 4H demand zone within the 15m Swing. 3. 15m/4H Demand zones for possible longs one reached.
by Amr-Sadek
Sell EUR/USD Triangle BreakoutThe EUR/USD pair on the M30 timeframe presents a potential shorting opportunity due to a recent breakout from a triangle pattern. Entry: Consider entering a short position (selling) below the broken support trendline of the triangle after confirmation. Ideally, this would be around 1.0770 or lower if the price continues to decline. Target Levels: 1.0704: This represents the height of the triangle, measured from its apex (highest or lowest point) to the breakout point, projected downwards from the breakout point. 1.0680: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the triangle, ideally with some buffer around 1.0800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
10
Could EUR/CHF reverse from here?Price is rising towards a resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.97976 Why we like it: There is a pullback resistance level which lines up with the 61.8% Fibonacci retracement. Stop loss: 0.98340 Why we like it: There is a pullback resistance level. Take profit: 0.97219 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EURGBP to find support at market?EURGBP - 24h expiry The medium term bias remains bullish. The sequence for trading is higher highs and lows. A lower correction is expected. Preferred trade is to buy on dips. Bespoke support is located at 0.8565. We look to Buy at 0.8565 (stop at 0.8545) Our profit targets will be 0.8615 and 0.8625 Resistance: 0.8595 / 0.8610 / 0.8625 Support: 0.8565 / 0.8550 / 0.8535 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EURUSD Channel Top and Fib Resistance. Time to turn bearish.The EURUSD pair gave us an excellent pull-back buy entry last week (April 30, see chart below) and has almost reached our 1.08300 Target, which was the 0.618 Fibonacci retracement level: We now turn bearish as not only is the price near the 0.618 Fib but also hit on Friday and gor rejected on the 1D MA50 (blue trend-line)/ 1D MA200 (orange trend-line) cluster. Above all, we are near the top (Lower Highs trend-line) of the 2024 Channel Down. The last Lower Low was priced just above the 1.236 Fib extension, which on the current Leg happens to be exactly on the 1.05175 Support. As a result our new Target for the medium-term is 1.05350 (just above the 1.236 Fib ext). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
EURUSD 6 May 2024 W19 - Intraday Analysis - EU PMIThis is my Intraday analysis on EURUSD for 6 May 2024 W19 based on Smart Money Concept (SMC) which includes the following: Market Sentiment 4H Chart Analysis 15m Chart Analysis Market Sentiment Nothing changed from Friday, the EUR/USD surged to reach a new high for the week, surpassing recent congestion levels. This uptick followed a significant shortfall in the US Nonfarm Payrolls (NFP) data regarding labor and wages. The disappointing figures revived expectations across the market for a quicker pace of Federal Reserve (Fed) rate reductions. 4H Chart Analysis 1. Swing Bearish Internal Bullish Reached Swing EQ INT Structure Pullback Phase 2. Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets. 3. INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply. Currently with INT Structure is Bullish we don't have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish. More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation. 15m Chart Analysis 1. Swing Bullish Internal Bullish Long : Phase A2 Short : Phase D 2. Swing failed to continue Bearish and with NFP we created a Bullish BOS which reached the Daily Supply Zone. After a BOS we expect a Pullback. INT structure is Bullish which means we still in Bullish continuation. With the 4H created a Bullish iBOS and requesting a Pullback, i prefer to look for Shorts after a Bearish iBOS. Longs will be ideal for me when we reach the 4H demand zone within the 15m Swing. 3. 15m/4H Demand zones for possible longs one reached.
by Amr-Sadek
Bullish bounce off 50% Fibonacci support?The Fiber (EUR/USD) is falling towards the pivot and could potentially bounce to the 1st resistance. Pivot: 1.07298 1st Support: 1.06919 1st Resistance: 1.08100 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
EURUSD 6-10 May 2024 W19 Weekly AnalysisThis is my Weekly analysis on EURUSD for 6-10 May 2024 W19 based on Smart Money Concept (SMC) which includes the following: Market Sentiment Weekly Chart Analysis Daily Chart Analysis 4H Chart Analysis Economic Events for the Week Market Sentiment On Friday, the EUR/USD surged to reach a new high for the week, surpassing recent congestion levels. This uptick followed a significant shortfall in the US Nonfarm Payrolls (NFP) data regarding labor and wages. The disappointing figures revived expectations across the market for a quicker pace of Federal Reserve (Fed) rate reductions. Weekly Chart Analysis 1. Swing Bearish Internal Bearish Reached Swing EQ Swing Continuation Phase (Pro Swing + Pro Internal) 2. After the Bearish iBOS we confirmed that the Swing Pullback is over and we will target the Weak INT Low and the Weak Swing Low. 3. Price had reached the Bearish INT Structure extreme and initiated the Bearish Internal Structure Continuation. Expectation is to continue bearish and target he Weak INT Low. 4. Price tapped into a Weekly demand zone that is currently providing Pullback for the continuation down to the Weak INT Low. Daily Chart Analysis 1. Swing Bearish INT Bearish Swing Continuation Phase (Pro Swing + Pro Internal) 2. Internal Structure continuing bearish following the Bearish Swing. 3. After the Bearish iBOS we expect a Pullback. Price in a clear corrective move to the upside after tapping the Weekly Demand Zone which initiated the Bearish iBOS Pullback Phase. As expected last week with the probability of a deep pullback, price reached the Daily Supply. With that deep Pullback, there is a HP that we can continue the Bearish INT Structure with expectation to target the Weak INT Low and possibly the Weak Swing Low. More development required on LTF to show signs of Bearish Structure to validate the expectations. 4. Daily and Weekly demand zones for reactions to fulfill the INT Pullback Phase. 4H Chart Analysis 1. Swing Bearish Internal Bullish Reached Swing EQ INT Structure Pullback Phase 2. Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets. 3. INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply. Currently with INT Structure is Bullish we don't have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish. More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation. Economic Events for the Week
by Amr-Sadek
Falling towards 50% Fibonacci support, could it bounce?EUR/USD is falling toward the support level, which is a pullback support that aligns with the 50% Fibonacci retracement, and could bounce from this level to our take profit. Entry: 1.07341 Why we like it: There is a pullback support level which aligns with the 50% Fibonacci retracement. Stop loss: 1.06753 Why we like it: There is a pullback support level which aligns with the 88% Fibonacci retracement. Take profit: 1.08082 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD 5/5/24Starting off the week with euro to the US dollar this pair has played bearish across the high timeframes for a while now. On the 4 hour chart here I'm looking for price to pull back into the discount zone that was given by the bullish range that broke our high last week this tells us that we are due another push to the upside but overall the higher time frame structures are bearish. Keeping this in mind if we do not pull back and we shift above our newly created high I will expect price to fall from the red area highlighted above, Personally I would prefer to see price pull back down below the 50 of the newly created range bringing us into the 4 hour POI liquidating the low and ultimately pushing back up above the newly created high allowing us to buy this last up move before the higher time frame begins to sell price off again. News this week is relatively low so I'm not expecting anything crazy volatile but I do expect us to expand to the upside before we start to drop lower. Please note the key levels that we have marked on our chart here are these points I'll be looking to buy from. Remember to follow price action read what price is showing you and trade your plan wishing you all a successful trading week.
by rosshayes
Preparing for FOMC Impact on EUR/USD: Insights and AnalysisAs we approach the FOMC meeting later today, there is anticipation of a potential bullish movement of the EUR against the USD, accompanied by a retest of the 50% Fibonacci level on the short timeframe and an uptick in value. Indicators suggest oversold conditions. Regarding the Federal Reserve, it is expected to maintain a hawkish stance, acknowledging persistent inflation and robust economic indicators. Despite not updating its macroeconomic projections until June, the Fed is likely to highlight recent deteriorations in the inflation outlook. Chair Powell's press conference will be pivotal, with the potential to adjust earlier guidance on easing, indicating a more cautious approach to monetary policy adjustments. Market expectations have shifted, significantly reducing the likelihood of rate cuts in the near future and postponing the start of the easing cycle to September 2024. We anticipate an increase in the EUR value today, with a cautious approach to setting the stop loss (SL) and take profit (TP) levels.
Long
by FOREXN1
4