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Eurusdanalysis

EURUSD 28May2023still in accordance with last week's analysis, prices will continue to fall in the SnD area. there is a possibility that the price will continue to fall closer to wave 2 as an invalid area. the invalid area here serves as a barrier to analysis, that the main trend analysis is bullish, while the current bearish trend is a correction of the bullish trend. when the price is in the SnD area you can wait for an opportunity to go long, but if the price continues to fall, then it's better to wait back near the invalid area to go long.
by Hokusai_FX
EURUSD 4HR Bearish ProjectionThe current analysis of EURUSD indicates a downward trend. Yesterday, it broke a significant support level and closed below it. While a temporary reversal may occur before the bearish movement continues, it's important to note that the DXY (US Dollar Index) has surpassed a major resistance level. This development suggests that EURUSD is likely to decline further towards the 1.05553 price zone, which represents the next significant support level in the coming weeks. It's crucial to remain aware that market conditions can shift unexpectedly. If the price manages to surpass the extended trendline and break above it, my bias would change. However, as of now, I maintain a bearish outlook on EURUSD. What's your thought on this? Kindly comment below
Short
by Popeson
2
#Euro Crumbles as USD Bulls Push On, Up Next $1.0500?Past Performance The immediate trend is resoundingly bearish and is apparent in the daily chart. Despite earlier attempts by Euro bulls, gains were quickly reversed as USD pressed on. As it is, there may be more losses today as price action aligns with last week's trend. #EURUSD Technical Analysis The sharp drop on May 24 shows that USD bulls are firmly in control. Prices are now trending lower, retesting last week’s lows meaning every attempt higher may be an opportunity to double down. Notice that bear bars are riding the lower BB. It points to intense liquidation pressure. Therefore, with prices dropping, traders may ride the trend as long as $1.0850 or May 18 highs hold. The short-term target is $1.0500, or March 2023 low. What to Expect? The trend is clear, and bears are dominant. As USD bulls push harder in a breakout, traders may position themselves for more losses as bears press on. This preview is valid as long as prices are below May 18 highs. Resistance level to watch: $1.0850 Support level to watch: $1.0760 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Euro Remains Bearish Despite Gains, Resistance at $1.0850Past Performance Euro prices edged higher on May 22. However, bulls didn't peel back the losses of May 18. As such, the downtrend remains, and the bearish bar of the second half of last week shapes the immediate trend. Resistance remains at around $1.0840 while support is at $1.0760, marking May 19 lows. #EURUSD Technical Analysis Price action remains tepid, with no strong push above or below critical levels. Given the sharp drop of last week, sellers have the upper hand. Therefore, traders can look for shorting entries on every attempt toward $1.0840. However, if bulls push, and the expansion is bullish, engulfing with an uptick in volumes, Euro could rise towards $1.0950 in the short term. Conversely, any drop below $1.0760 and last week's lows may draw more sellers, confirming last week's losses. In that case, the Euro may drop toward $1.0500 in the days ahead. What to Expect? After sharp losses last week, Euro bulls started on a stronger footing in an expected correction. Even so, the correction won't last, provided $1.0850 is the immediate resistance, limiting the upside. From a top-down preview, the immediate trend is southwards unless there is a clear shift in price action in the daily chart. Resistance level to watch: $1.0850 Support level to watch: $1.0760 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer