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EURO-USD

EURUSD - Bearish bias as price approaches key resistanceEURUSD has begin recovering slighting since the aggressive selling that continued all last week. Price has been in a strong downtrend for a number of weeks so we are looking for price exhaustion and pullback to key resistance so we can find opportunities to get short with the overall bearish trend. I will be watching closely over the coming week to see if 1)price reaches near term resistance, 2)a price action sell signal forms such as a bearish pin bar, bearish engulfing bar, inside bar, etc. 3) if price breaks below the formed pattern to then give me the confirmation signal I need to enter short. Remember that we don't want to gbe picking up pennies in front of a steam roller by going long in very bearish markets. We are looking for setups with the highest probability of success which in bearish markets like this are short setups.
Short
by krugman87
1
EURUSD Retracement completed , but not yetEuroUSD has completed its retracement of 61.8. Now it should try to go touch 1.25 again. Trying to overcome the selling pressure will be a difficult job, because 1.25 has already proven itself has very strong Resistance point , and similarly 1.225 has proven to be strong support zone. What happens next , is anyones guess. Deponding upon market sentinment 1.25 should be breached, but not w/o firefight which means bloodhed i.e.. USD will appreciate in value. trying to pull the price below 1.22, then again try to break 1.25. In short it means, it is gonna swing side ways, no clear signal of trade. So it is No trading zone. Only with brave hearts and loads of waste money should try their luck. My opinion: Stay out of it. PS: All the opinions are mine and mine only, i am no way trying to influence your trading decision. Its your money, you have to decide what u do with it. Thanks KryptoTimes
by kryptotimes
Eur/Usd holding for NOWThe Euro has changed from an uptrend to range bound in the short term. We may be seeing the end of the strong uptrend that the Euro has been in or a complex PB but I'm leaning towards the end. The Dollar is still on its hike cycle with three hikes predicted this year and should be strong but with all of the turnover in office and ongoing talks about Russia we have yet to see it in this pair. I'm inclined to believe Trump may be trying to stay in the headlines on purpose as he has made no attempt to hide the fact that he wants a weak dollar. Now with the last two rally's almost being identical at 302 pips and 288 pips respectfully, marked on the chart. Look for the Euro to continue back towards the trendline and supply area of 1.22. As always do your own due diligence. Keep Calm and Trade Forex.
by YourForexMan
WHAT THE EURUSD CAN TELL US ABOUT THE US STOCK MARKETAs you can see, it looks as we are preparing for a correction in EURUSD (So as of now, I am short. However I fully expect a possibility of a range). What does being short tell us? It means in the near future (weeks-months because this is a daily chart) the USD could gain some value to its Euro counterpart. How would the USD gain its value? A great way would be if interest rates are hiked by the FED, giving the USD more attraction to foreign currency investors. This rate spike would counter inflation but we all know what a rate hike would do to the economy- slowwwww down. This would in turn go along with what we have been discussing in the markets lately as the SPX and DJX have been facing. It is a huge stretch and this should really be interpreted as a EURUSD trade- but- it could mean a stronger dollar in the future CAUSED by higher interest rates- slowing the economy and stock market growth.
Short
by samblum_
V1:T8_Quick EURUSD Scalp Long_Hourly.Goodmorning Traders, I know I said I was going to wait until Tuesday to place trades but here I am two trades open already into the week. It snowed this morning so I got out of work allowing me to have some time to play around with some day trades. Walking in the market was pushing down and it almost always reverses on trick morning/days like today. That being said when I get a chance like this I like to enjoy myself as a trader more than I desire profits. On both positions I have taken this week so far I have taken .5% of account balance, knowing they were sporadic trades that do not adhere to the trading plan. I'm just having fun. Like I say, I just wanna be in the market and watch it for the day. Its my personal preference this week. Don't take this trade if your not comfortable with a loss. Entry BUY @ 1.22920 TP @1.23390 SL@ 1.22650 Goodluck! If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Your data may be different. |V1-T1 = Volume 1-Trade 1| Material is educational only. Trade at your own risk!
Long
by UnknownUnicorn981629
EURUSDAt first glance this could be a bearish development, and while the tone is set for lower prices in the short-term, support in the vicinity of 12150/100 will be quite impactful to the broader outlook. How the euro reacts to support (should it test it) will be telling as to whether the price action dating back to January is corrective or of the topping variety. A test and strong turnaround from support would suggest it’s simply a corrective move within the broader uptrend dating back to last year. A bull-flag beneath the 2008 trend-line could start to develop, and may ultimately lead to a breakout beyond the long-term trend-line. However, a breach of support by way of the April trend-line/2017 high, would imply that sellers could show up in earnest and drive EUR/USD sharply lower.
Short
by FxGalaxyPremium