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Eurodollar

EURUSD falls by Fan Principle at Top pattern💣EURUSD is falling by Fan Principle at the top pattern; if the third line breaks down, expect EURUSD to reach the support line. Since DXY will be bullish, there is a very high probability of completing Fan Principle at top pattern.👇 🔅Euro/U.S.Dollar Analyze ( EURUSD ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
35
EUR/USD -17/4/2023-• Mixed picture on the weekly EUR/USD chart • We have bullish and bearish signs • Bullish signs: Uptrend line still intact despite recent drop • Still within weekly corrective levels. Prior rally from 0.95 to 1.10 retraced to almost 38.2% • Descending trend line from May 21 high has been successfully broken in Dec 22 • However, latest leg up from 1.05 to 1.10 didn't experience any correction yet, so last 2 days drops could be potential weekly corrections that might bottom anywhere between 1.0860 and 1.0730 (38.2% and 61.8% respectively) • On the other side, the bearish signs are: The latest leg up failed to make a new high. Instead, it made a double top and bulls were unable to sustain and confirm the breakout. • A potential double top pattern may be building, with neckline at around 1.050 • A break of 1.050 with several successful daily closes below it, will turn the odds in favor of the bears and we might see the parity level re-tested again
by RamziAbouAbdallah-CMT
EUR/USD -15/4/2023-Here's a short term analysis on the pair • Labelled the March-April 3 waves of rally as 1,2 and 3 respectively I am going to discuss the market's behavior and yesterday's sudden fall despite bad figures for the U.S • Prices never keep going in one direction as a straight line. They rather retrace because of traders taking profit and Stop Losses being hit etc.. And whenever there is a correction, long term traders rather wait for better prices to re-enter again. This is how trends are formed, reflected by higher highs higher lows in an uptrend and vice versa for the downtrend. • Wave 1: Euro rallied from 1.0520 to 1.0920, a massive 400 pip move which normally is followed by a retracement. Unsurprisingly, that is what happened next; market retraced back to the 50% Fibonacci level. • Wave 2: Rally from 1.07 to 1.0970, almost a 300 pip move was also followed by a correction to the 50% level. • And now we are in the 3rd wave: Rally from 1.0830 to 1.1070, a 200+ pip move. Yesterday was the first red candle this week following a 3 day sharp rally. Prices yesterday dropped to the 38.2% Fibonacci level and went back up again to close above it. What is next? • If the same scenario were to repeat itself, we might see a sharper decline to the 50% level at 1.0950 before making a new high. Why? Because in my personal opinion, the broader trend is up and FED-ECB policy are converging more and more. Plus, interest rates differential is tightening which will favor the Euro. The US Dollar has been rallying for almost 2 years, benefiting from the gap in policies between the ECB and the FED. Since that factor is changing, I think the bull cycle for the Dollar has ended, for now.
Long
by RamziAbouAbdallah-CMT
2