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Europrice

#Euro May Post More Losses, Upside Capped At $1.0940Past Performance The Euro remains under pressure and trickling lower. Sellers are unrelenting, looking at the performance in the daily chart. As it is, every attempt higher below $1.0940, marking May 12 highs, may offer entries for determined traders angling for even more drawdown toward $1.0730 in the coming sessions. #EURUSD Technical Analysis EURUSD is within a bearish formation following the double tops in early May. As it is, prices are moving lower, crashing below critical support levels as Euro prices recoil. Moreover, sell bars are riding the lower band, pointing to high selling pressure. This may allow sellers to search for liquidation entries in lower time frames. The neckline and an important support line traders should watch is $1.0730. If this level is lost, there is a high possibility of prices dropping further towards $1.0530 or March 2023 lows. What to Expect? Unless there is an unexpected expansion above May 12 highs with surging participation levels, USD bulls are squarely in control. Therefore, from an effort-versus-result perspective, sellers can continue looking for entries targeting $1.0730 in the near term. Resistance level to watch: $1.0940 Support level to watch: $1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Collapsing, USD Bulls Target $1.0730Past Performance The Euro is disintegrating following the events of last week. With the path defined, sellers can continue looking for entries to unload as they press on, targeting $1.0730. The middle BB caps the upside as a floating resistance level, while $1.100 is a fixed reaction line that must be broken for buyers to push higher. #EURUSD Technical Analysis Presently, sellers have the upper hand, which will be the case, provided prices are banding along the lower BB. Notice that May 12's bar had no lower wick suggesting that the liquidation pressure was strong. This could spill to this week. In that case, local resistance will be at $1.0940, or around May 12's high. Any drop below 1.0850 may trigger even more sell-off, allowing sellers to double down in lower time frames. What to Expect? The downtrend is in motion after gains from March. In a breakout formation, prices are dropping, with above-average volumes pointing to participation. For this to change, there must be wide-ranging wicks reversing recent losses. Resistance level to watch: $1.0940 Support level to watch: $1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Dropping, Double Tops Confirmed As USD Bulls Target $1.073Past Performance Euro is under pressure and within a bearish formation, slipping below $1.0965. The downtrend is quickly taking shape, reading from the EURUSD candlestick arrangement in the daily stage. As long as prices are below the middle BB, traders can look to short, aiming at $1.0860 or lower in the short term. #EURUSD Technical Analysis Euro bulls are fading, and USD buyers are taking control. The inability of Euro buyers to reverse losses, preventing the bleed, gives determined sellers to press on. So far, prices are within a bearish formation as USD bulls target $1.0860 and $1.730 in the days ahead. Notice that bear bars are beginning to band along the lower BB, pointing to increasing momentum and volatility. This development also indicates that $1.1100 is the local peak, marking the double top. What to Expect? The bear bar of May 11 was extended, meaning volatility is high. Moreover, USD bulls are taking charge, forcing prices lower from the middle BB. With this, the EURUSD pair is distributing after an impressive expansion in the last two months. Based on this, sellers can look for opportunities to short in the days ahead. Resistance to watch: $1.0965 Support to watch: $1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Contracts, USD Bulls Find Reprieve after 2 Month Bear RunPast Performance Euro prices are lower as USD bulls rejected attempts for higher highs. The immediate resistance lies at 1.1100, as a double top will likely print in the upcoming sessions. A notable development when prices rejected higher prices on May 4 was the rise in trading volumes. This may suggest that USD bulls are keen to participate, a move that could press the Euro further in the days ahead. #EURUSD Technical Analysis The rejection of higher highs on May 4 prints out at a critical resistance level. The 1.1100 resistance line flashes with April resistance. It is also within the same range as February peaks. While bearish, how prices move in the next few days depends on if USD bulls press on. Any breakout below the current range at 1.0960 may trigger a sell-off towards 1.0850 and 1.0750. These are critical Fibonacci retracement levels of the March to April 2023 trade range. What to Expect? USD bulls are confident, and the EUR Bull Run could be over. This depends on whether prices drop below the immediate support level today or in sessions ahead. Any upswing above 1.1100 will invalidate the bearish preview, allowing Euro bulls to continue with the upswing from early March. Resistance level to watch: 1.1100 Support level to watch: 1.0960 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Retesting Key Resistance Line, Double Top Forming?Past Performance Euro bulls have the upper hand, printing higher highs in the daily chart. Gains of May 3 were conspicuous but failed to break out above 1.1100. Still, the bulls have the upper hand despite the clear double-top forming. #EURUSD Technical Analysis The Fed raised rates but didn't push the Euro above the immediate resistance level. The May 3 bar closed with a long upper wick suggesting sell-off in the tail end. Moreover, trading volumes are lighter, hinting at weakness after a strong performance in the last five months. As prices consolidate and momentum drops, traders should watch out for how prices react at 1.1100 on the upper hand and 1.0965 on the lower end. For bears to take charge, a high volume bar must break below 1.0965, confirming the bearish engulfing bars of April 14 and 25. Conversely, a break above April highs may see the Euro extend gains, powering towards 1.12. What to Expect? Euro bulls are in control following a 5% gain since January. There is a possible double-top forming, and momentum is waning, questioning the strength of the upsides. In the days ahead, a comprehensive, wide-ranging breakout above immediate resistance will rejuvenate demand, further pumping the Euro. Resistance level to watch out for: $1.1100 Support level to watch out for: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer