EURUSDT - change trend. Large Wyckoff reversal model.Large Wyckoff reversal model.
- Price is trying to break the trend line
- Price is forming a triangle
- The price made a false break of the lower boundary of the sidewall
- 12-month timeframe shows fractal reversal with three bars
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Eurousdanalysis
EUROUSD GBPUSD Daily Timeframe analysisOANDA:EURUSD FX:GBPUSD Daily timeframe analysis
Trendline break and strong consolidation
Bullish Structure confirmed after forming LL-LH-HL and candle closed 0.618 level 1.06265
RSI Bullish Exaggerated Divergence (Candle Equal Low but RSI formed HL-HL) confirmed before break of 0..618 level.
We can see upcoming targets as shown in chart.
#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.
Prepare to sell EUR within next 2 monthsTechnical Analysis:
- In weekly, EURUSD is doing wave ((4)) in black
- In short term, EURUSD is doing wave 2 in red
- H1 right side is turning down
- H4 right side is up
- Weekly right side is down
Technical Information:
- If you're a Swing Trader, you can sell wave ((4)) in red around 1.16
- If you're a Position Trader, you must wait for wave ((5)) in black around 0.93 to buy
EURO/USD: GOOD RALLY COMING IN.After a long devastating rejection since January 2021, the EURO/USD finally resurrected from the dead.
Note: This analysis is in a 2-monthly timeframe so do not consider this a short-term trade setup.
A -22.85% rejection from the resistance was brutal for the EURO/USD in the long-term view. After almost 2 years, the EURO/USD has bounced back from a historical supporting trendline. This looks good from a long-term perspective and I believe we may see some positive moves in the coming new year. In a lower timeframe(3-6 hours), the EURO/USD is dropping down which is quite obvious and it must be a bearish situation if you are a bull and you are scalping or playing in the short-term market. Overall, EURO/USD looks good for now.
What do you think? Share your views in the comment section.
Trade safely.
EURUSD is in the Falling WedgeThe price is in the falling wedge. Euro is losing its value against the US Dollar. DMI shows us that the price will continue to fall. ADX points out that the trend will not change. We are expecting that the Euro's value against the US Dollar will continue swinging in the downtrend for a few more weeks but after that we are expecting the price breakout to the upside from the falling wedge.
Euro/Usd : Likely to continue in the same 100 pip range Speculative sentiment index is around 25% hence our advise is to find only long scalp entries in smaller time frames . Price likely to continue in the 100 pip range (1.2130-1.2250) with a minor support around 1.2100 ( EMA 50 area) . Breaking 1.2250-70 range top will push the price towards the major resistance around 1.2370.
Trend : Range
Signal : Long Scalp in 1.2130-1.2250 range
Euro/Usd : 100 pip daily range likely to continue Stop hunt spikes near 1.2250-1.2310 handle is possible since the speculative sentiment index is around 20% and price is consolidating in a 100 pip rage. Upside breakout is unlikely with lack of catalysts- data numbers and holiday. An eventual test to 1.1975-1.2050 area in possible before any further gain.
Trend : Range
Signal : Short Scalp 1.2250-1.2310
Stop Loss : 1.2360
Target : 1.2150-1.2050
EUR/USD Technical Analysis (Monthly Basis)The pair has been moving on the Fibonacci channels that it has created for a long time, and has touched a Fibonacci 0 channel again from last May.
From here on, we can obviously expect an uptrend. However, it must first break the falling trend line. If prices break this trend, we can see 1.24 first and then 1.36 levels.
However, if the falling trend line is not broken, prices may move towards the Fibonacci 0 channel again, in which case prices may retreat to 1.08 levels.
It contains only personal views and opinions. Does not contain legal investment advice ...