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EURUSD Weekly Candle Pulling Back to end the WeekWe can observe momentum bullish here. An important candle closure to observe is the 10EST 4hr Candle close. The candle closed above 1.06650. This was the cl;ue and the tracks the market left behind/ . The last 15m of the 1Hr candle, that was this move up to the next rnage. The 4Hr is importnatn and means everything to forex traders due to the nature of various sessions in the forex market ( being open 24 hours/day) NY Session (Most Volume -Current as of Post Asian Session - Least Volume London Session - Median Volume Volumes moves into the market at specific and various times throughout the day. One only begins to understand the nature of volume with experience. it cannot be taught. Look at where the move occurs, where the big candle is, what time that big candle occurs at.
Long
by ShrewdCatfx
Alot of evidence to be Fearful. [ 1.05479 ] 🔊With price action evidence showing us of great sell pressure on risk assets. With Evidence of a renewed bullish strength on safe haven assets.. With evidence of institutions exhibiting bouts of worry and uncertainty. When the Enemy flinches, you have already won the battle. I like buying safe haven assets during this time of higher than average inflation. The Financial system showing signs of weakness. Everyone doubting crypto. Countries and Groups releasing plans of creating a digital currency. Creating their own currency. I struggle to be optimistic on the economy. GDP and production seeing sacrificed at the alter , firsthand. Anyways enough said, looking lower here.
Short
by ShrewdCatfx
2
EU Already up 90 Pips on week? beware of FOMO. After gapping up 40 Pips, then creating another leg up 50 pips Higher High to 1.07392 Daily Zone, I can see fomo kicking in. I think it's likely that we will see a harsh liquidity pullback to 1.06895 Daily Zone before a further bullish continuation on the week ( which just began! ) Already moved up 90 pips.. quite a move for EU during the first session of the week. Short term at least looking for fakeout during London Open (1st of the week). CPI on Tuesday, We'll see how the first few sessions of the week unfold here.
Short
by ShrewdCatfx
EURUSD Struggling 1.05860. Previous Key level. We can observe that price is pulling back after fed speech caused us to fall off a cliff. This was expected. A Bullish Argument would be buy Daily Support as we reject 1.05428 and NFP data tomorrow will catapult us back up to 1.0646. My bias remains bearish because of the weekly timeframe. Price has corrected 40% of the move on Tuesday. If that is a deep enough retracement or not idk. What matters for me as a trader is good RR Ideas and operating off key levels.
Short
by ShrewdCatfx
1
EURUSD Potential Forecast | 6th March - 10th March 2023Hi everyone, CY back with another forecast. Let's prepare for a heavy and potentially volatile week ahead! Today's forecast will be for the upcoming week and the general direction where price can potentially head too with EURUSD. Let me begin.. Fundamental context 1. Next week will be an important week for the USD and there will be the NFP data release that determines the job/labor market in the US. 2. Given Jan's whopping NFP print of 517k jobs , will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly? 3. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release. 4. Mixed sentiments surrounding the USD due to the "hot and cold" data news releases , from the poor durable goods orders m/m due to Boeing, to the decent ISM manufacturing index and to the weakening consumer confidence in the US. 5. However, next week will provide a confirmation to the upcoming bias for the dollar. MY PERSONAL TAKE I believe the USD will continue strengthening . The economy in the US has proved far more resilient than ever and the 517000 jobs added for the month of January was not due to an anomaly and there were gains in almost all sectors of the job market. If there is one thing, never bet against the USD. Technical context 1. Price has been stuck in a 158.2 pip range. 2. On the HTF, EURUSD is still on a bearish trend. 3. However, on the H1 timeframe, EU is on a bullish trend. 4. Price has already swept buy-side and sell-side liquidity as marked by "liquidity taken". 5. Price is currently hovering at a LTF supply zone. (expected to be broken due to Monday's asian opening volume) 6. Price can continue heading up to clear the HTF buy-side liquidity as marked by the red line, which will then come back lower to sweep the HTF sell-side liquidity. 7. Inducement has been marked which serves as a greater confluence for price to tap into. Thanks for tuning into my forecast on the upcoming week. Pleasure to have you all here. Best Regards, CY
Short
by Jon_Jones_Junior
EURUSD Potential Forecast | 8th March 2023Fundamental Backdrop 1. Fed Powell mentioned yesterday that the Fed will not hesitate to hike rates at a faster pace if data shows the resilience of inflation and the US economy. 2. This resulted in strong bearish pressure and momentum coming into EURUSD. Technical Confluences 1. Price has officially broken structure. 2. Lower highs and lower lows has been formed. 3. There is a high probability that price can tap into the key support at 1.0465. Idea I will be looking for price to continue its bearish momentum in the market and for price to tap into the H4 support level at 1.0465. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
1
EURUSD Potential Forecast | 7th March 2023Fundamental Backdrop 1. Given Jan's whopping NFP print of 517k jobs, will the job market continue its resilience and stay strong consistently? Or was the month of January just an anomaly? 2. EUR is also riddled with plenty of economic news and data releases such as the retail sales m/m and CPI news release. 3. Mixed sentiments surrounding the USD due to the "hot and cold" data news releases, from the poor durable goods orders m/m due to Boeing , to the decent ISM manufacturing index and to the weakening consumer confidence in the US. 4. However, NFP will provide a confirmation to the upcoming bias for the dollar. Technical Confluences 1. Price is currently rejecting off the H4 resistance at 1.0685. 2. Price could potentially retrace to the next LTF support at 1.0622 where the ichimoku cloud lies which can also serve as a dynamic support. Idea Price could potentially tap into 1.0622 before heading back up. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab