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Eurusdanalysis

#Euro Remains Bearish Despite Gains, Sell Trigger at 1.0840Past Performance Prices were in range by May 15 close. Even though Euro gained, prices are inside the May 12 bar, and sellers are in control. In the short term, the May 12 wide-ranging bear candlestick defines the immediate term. As such, key levels to watch would be 1.0940 and 1.0840. #EURUSD Technical Analysis In a bear breakout formation, Euro bulls have failed to push higher, reversing losses. Therefore, USD bulls are in control. As long as prices are below $1.0940, every attempt higher with lighter volumes may be an opportunity to dump, targeting 1.0840 and later 1.0730. Conversely, any confirmation of the May 12 bear bar, driving prices below last week's lows, will continue recent losses. If the breakout from the current thin consolidation is with rising volumes, prices could drop even further. However, if gains exceed May 12's highs with high participation, prices could rise to 1.1000. What to Expect? Prices are consolidating in lower time frames, and the immediate trend is undefined. The primary trend is bearish, and USD bulls are in control despite yesterday's rejection of sellers. If anything, the upper limit remains at 1.0940 and 1.1000, respectively. Resistance level to watch: 1.0940 Support level to watch: 1.0840 [ b]Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Dropping, USD Bulls Targeting 1.0860 in a BreakoutPast Performance Euro bulls are losing momentum, allowing USD bulls to double down. As it is, EURUSD is within a bearish formation with primary resistance at $1.1100. With prices below the middle BB and 1.0965 broken, sellers can look for entries with targets at 1.0860 and 1.0730 being immediate and medium-term targets. #EURUSD Technical Analysis After sharp gains from March through April, prices are cooling off in a welcomed retracement. There is a double top following rejections of bulls early this month. Since prices are below the middle BB and 1.0965, breaking out below the range, traders can search for unloading opportunities. Tight resistance remains at 1.0965, but ideally, resistance remains at 1.1100. Short targets will be at 1.0860 and 1.0730, key reaction points of the Fibonacci retracement levels of the March to April trade range. What to Expect? USD bulls will likely press on, reading from the current sharp losses in the European session. Prices are dropping as USD bulls have broken below yesterday's lower range. As such, the bearish preview stands as long as prices are below the middle BB and $1.1100 Resistance level to watch: 1.1100 Support level to watch: 1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Slips Below Trade Range in Distribution, Back to 1.0730?Past Performance The Euro uptrend could be over, reading from the price action in the daily chart. For the first time in roughly seven weeks, USD bulls pushed prices below the middle BB or the 20-day moving average. This follows the high volume rejection of higher prices on May 4 from around the 1.1100 primary resistance. #EURUSD Technical Analysis The breakout below the dynamic support is with light volumes, nearly half those posted on May 4 when a double bar bear pattern printed. With the Euro reversing gains and prices falling below the critical support at the middle BB and 1.0965, traders can look for entries. As it is, every attempt towards the recent trade range may offer entries for sellers targeting 1.0730. This preview will be null once the Euro rallies above 1.1100, with high participation levels preferably exceeding those of May 4. What to Expect? After weeks of higher highs, the upside momentum is fading, allowing USD bulls to take charge. Any confirmation of yesterday's losses could begin another leg down. The next support is 1.0730 marking the 61.8% Fibonacci level of the March to April trade range. Resistance level to watch out: 1.1100 Support level to watch out: 1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Euro Bulls Firm, Will Prices Rally Above 1.1100?Past Performance The uptrend remains, but USD bulls are rejecting attempts higher. From the daily chart, primary resistance lies at 1.1100, marking May 4 highs. The failure of prices to move higher last week supports bears. There must be a sharp dump below 1.0965 and the middle BB, or the 20-day moving average, for sellers to fully take control. #EURUSD Technical Analysis The uptrend remains, but there is a double top forming. With prices flat-lining at spot rates, diverging from the upper BB, there could be signs of dropping upside momentum. Still, EUR bulls have the upper hand, provided prices are above the middle BB and 1.0965. As it is, traders can wait for a confirmation of the May 4 bar. In that case, losses below 1.0965 with expanding volumes may see USD bulls drive prices back to 1.0865 in a bear trend continuation formation. Any rally above 1.1100 with the same rapidity cancels this bearish outlook. What to Expect? EURUSD is consolidating at spot rates after a superb performance by EUR bulls. Still, there must be a convincing breakout above the current range for trend definition. Any upswing will confirm buyers of March, cementing Euro bulls' dominance. Resistance level to watch: 1.1100 Support level to watch: 1.0965 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer