Downtrend
EUR/USD - downtrend or reversal soon?EUR/USD Technical and Fundamental Analysis (TFA)
---Fundamental Analysis
From a fundamental perspective, the EUR/USD is facing some headwinds. The European economy is slowing down, and the ECB is expected to keep interest rates low for the foreseeable future. The US economy is growing at a faster pace, and the Fed is expected to raise interest rates in the coming months.
However, there are also some positive factors for the EUR/USD. The eurozone is still a relatively safe haven currency, and it is benefiting from the recent weakness in the US dollar.
---Technical Analysis
The pair is still correcting on the downside, forming the Wace C of a bigger Wave 4.
I marked two potential targets on the downside. It is not mandatory for the price to hit them both, but for now the trend is on the downside.
Watch the price carefully when it gets close to the marked areas, to not be surprised by a sudden price reversal.
The technical picture for the EUR/USD is mixed. The exchange rate is trading above its 200-day moving average, which is a bullish sign. However, it is also trading below the 50-day moving average, which is a bearish sign.
The key level to watch on the upside is 1.0935, which is the high from last week. A break above this level could signal a move towards 1.1000. On the downside, the key level to watch is 1.0635, which is the May low. A break below this level could signal a move towards 1.0500.
Overall, the EUR/USD is a volatile market and the outlook is uncertain. Traders should be prepared for both bullish and bearish moves in the coming days.
I hope this post is helpful.
This analysis represents my personal thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
GBPUSDGBP looks very much in the direction of the trendline, it seems to have followed the down trend and then down and up to follow the demand and then back to the supply area,
The area for the nearest supply of GBP at 1,257 and also 1,263, if from me it is usual to sell in instalments in the nearest area of 1,257 then at 1,263 and you can buy in the area of 1,250.
ETH IN THE WILD: NAVIGATING A BEARISH JUNGLEHey there, crypto enthusiasts! Let's dive into the world of Ethereum (ETH) with a focus on the weekly analysis. Brace yourselves, because it's been a bit of a rollercoaster ride recently.
So, the trend I'm seeing is leaning towards the bearish side. It's like trying to climb a mountain while wearing flip-flops – not the easiest journey.
First up, Ethereum has been struggling to break above a significant resistance level. Think of it as trying to open a stubborn jar of pickles – you twist and turn, but it just won't budge. This resistance has been a real roadblock for Ethereum's price, and until we conquer it, we might be in for some tough times.
On the flip side, we've been testing support levels. It's like walking on a tightrope – one wrong step, and we could fall. Testing support means we're checking if there's a solid floor beneath us to prevent a free fall. It's a crucial level to watch.
Now, let's talk about my indicator. It's been flashing some sell signals lately, and that's like a red flag waving in front of us. These signals suggest that the bears might be taking the reins, and that's something we can't ignore.
But wait, there's more! The EMA 100 (Exponential Moving Average with a 100-period setting) has been giving us the cold shoulder. It's like getting rejected at the door of a fancy party – not fun. This rejection from the EMA 100 adds to the bearish sentiment.
However, there's a glimmer of hope. I've spotted a potential double bottom formation after breaking the support. It's like finding your lost keys just when you thought they were gone forever. This could signal a potential reversal, but we'll need to keep a close eye on it to see if it holds.
In a nutshell, Ethereum is navigating through a bearish scenario right now. We're wrestling with resistance, testing support, and my trusty indicator is cautioning us. The rejection from the EMA 100 stings a bit, but that possible double bottom might just be the silver lining we're looking for.
As always, the crypto market is full of surprises, so stay vigilant and trade wisely.
NZD-USD Potential Short! Sell!
Hello,Traders!
NZD-USD is trading in a
Downtrend and the pair already
Made a pullback from the
Horizontal resistance of 0.6000
And is going down so I am
Bearish biased and I think that
We will see a retest of the
Local support below at 0.5900
Sell!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
Beautiful Bounce mere hours or few days awayHellacious bearishness...mmmm yummy! All fun rides must come to an end, this one will stop loss soon imo.
Look for a bend in the trend real soon. Friday is triple witching and could produce a near-term bottom.
Bounce back to 4400 is the likely test. A real ferocious down draft may follow.
For months I warned the Bear Market ain't over and the Fat Lady didn't sing yet. Take heed!