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Eurusdbuy

A key reversal on EUR/USD just formed at a major support clusterA bullish engulfing candle has formed on the EUR/USD daily chart, which could carry some weight given the technical levels of support it sits upon. Despite an intraday break below 1.0700, the market rebounded and closed back above this big round number. The 200-day EMA also provided support following an intraday false break beneath it, and it is worth mentioning that the 200-day EMA provided support on three occasions between the end of February and beginning of March before a strong rally formed. The RSI (14) dipped to its lowest level since September 2022. Whilst it is not within the classic oversold level of 30, it now sits at a similar level to the RSI low in February which preceded the March Rally. Furthermore, yesterday’s low held above the March VPOC (volume point of control), which is the most traded level by volume (or ticks, in the case of spot forex). Whilst many would prefer real ‘exchange’ volume, I regularly use the ICE feed as it is an amalgamation of FX feeds and their respective liquidity providers, and I generally find their tick volumes to be quite reliable. And finally, the decline form the May high has been in a relatively straight line which almost begs for correction higher. So it appears we are at or very near to an inflection point on EUR/USD, and a move to 1.0800 seems achievable given the depth of its decline from the May high. Of course, incoming data is key so we will keep an eye on employment data for the US this week (ADP, JOLTS, layoffs, jobless claims) and to see if the jobs market shows further signs of softening ahead of Friday's NFP report, as that could reduce bets of a June Fed hike and support EUR/USD.
Long
by CityIndex
EUR/USD ON BULLISHEUR/USD is anticipated to be preparing to take a jump to the upside( LONG/ BUY) as the pattern break is preparing to complete another pattern. A clear reversal should be seen in the grey area as the previous pattern in orange lines should complete the 90 % rule but We anticipate the third touch first to complete the pattern (descending channel ) to go to the upside. If we do not get the reversal, we should get a continuation pattern to confirm more momentum to the downside.
Long
by Skyper_Fresh
EUR/USD on a Race to New All-Time HighsIn this analysis, we will explore the current state of the EUR/USD currency pair and examine the potential for it to reach new all-time highs. The recent surge in demand for the euro has generated significant momentum, driving the pair towards revisiting its previous all-time high. We will identify key target levels and discuss the zone that has played a crucial role in fostering this substantial demand. Analysis: The EUR/USD currency pair has exhibited strong bullish momentum in recent months, suggesting a race toward new all-time highs. Currently trading at 1.08068, the pair has surpassed previous resistance levels and demonstrated an upward trend. Target Levels: Our analysis suggests two significant target levels for the EUR/USD pair: 1. Revisiting Target: 1.45779 The first target level for the EUR/USD pair is 1.45779. This level represents a key point of interest and acts as a psychological barrier for traders. Reaching this level would signify a notable milestone in the pair's upward trajectory. 2. New All-Time High: 2.00957 The EUR/USD pair's second target level is 2.00957, representing a new all-time high. If the pair manages to break through the previous all-time high, it would indicate a substantial shift in market dynamics and a strong bullish sentiment towards the euro. Demand Zone: The zone that has fueled the recent surge in demand for the euro lies between 0.97339 and 0.83670. This zone has acted as a crucial support area, attracting buyers and indicating a strong appetite for the euro. Traders and investors should closely monitor this zone for potential future price action and key support levels. Based on our analysis, the EUR/USD currency pair is currently engaged in a race toward new all-time highs. The first revisiting target level is set at 1.45779, with the new all-time high projected at 2.00957. The demand zone between 0.97339 and 0.83670 has been instrumental in driving the pair's upward momentum. Traders should carefully observe price movements and monitor the strength of bullish trends to make informed trading decisions. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading in the foreign exchange market involves risks, and traders should conduct their research and seek professional advice before making any investment decisions.
Long
by mahmoudbawa
EurUsd -> Make It Or Break ItHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that EurUsd is currently retesting a quite obvious previous weekly support/resistance area which is now turned support at the $1.087 area. You can also see that weekly moving averages are bullish, EurUsd is also still creating bullish market structure and also retesting the lower support trendline of a rising channel, so I definitely do expect a short term rally towards the upside from here. On the daily timeframe you can see that we are also currently retesting previous daily support from which we could definitely see some rejection towards the upside, we do NOT have bullish confirmation in my opinion yet, so I am now just waiting for a good entry point and then I do expect a retest of the next structure level at the $1.096 level. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
41
EURUSD is at the support of this trendline on Daily TFThe EURUSD currency pair is currently testing a support level formed by a trendline on the Daily Time Frame (TF). As a result, I am adopting a neutral stance on this trade until a clear direction emerges in the market. There are two potential scenarios to consider: Firstly, there is a possibility that the market will break below the trendline, indicating a continuation of the downward move towards the next significant keyzone. Alternatively, the price may reverse from the current support level and resume its upward movement. Given these possibilities, it is crucial to monitor the market closely to determine the actual path it will take. What do you think?
by Popeson
EUR/USD: Entry points in favor of buyersOANDA:EURUSD We expect EUR to 'weak further' last Friday but we think it 'unlikely to break key support at 1.0850 today'. Our view on EUR weakness is correct even though it has slightly breached 1.0845 (lowest is 1.0840). While severely oversold, EUR's weakness remains volatile. However, key support at 1.0850 may be out of reach today. Resistance is at 1.0872, followed by 1.0890. Last Friday (May 12, spot at 1.0920) we turned negative for the EUR and emphasized that it 'could likely drop lower in the coming days'. We added, 'the level to watch is 1.0855, as a break of this key support is likely to trigger a sharp and rapid drop in EUR'. While our view is not wrong, we do not fully expect EUR to breach 1.0855 so quickly as it plummets to lows of 1.0840 (-0.60%). There is no change in our EUR negative view and the next level to watch is 1.0850. Looking forward, if EUR can break and sustain below 1.0850, the next level to focus on is 1.0725. We will keep our negative view on EUR as long as it doesn't break above 1.0940 ('strong resistance' was 1.0995 last Friday).
Long
by DNA_TradingFX
EURUSD: Buy EURUSD is currently in a relatively obvious downward channel. Today, the lowest fell to around 1.094. This is also the starting point of the last rise. There was support. It rebounded to around 1.098 and then fell back. From the trend point of view, it has not yet stepped out of the downward channel, but here A pattern similar to a double bottom appears. If it can get support around 1.096, it will try the resistance around 1.098 again. The probability of breaking through is relatively high. The upper target is around 1.10, so my trading signal is to go long. Trading Signals: buy: 1.096-1.095 tp: 1.099 sl: 1.094 sell: 1.101-1.103 tp:1..099 sl:1.103 Traders, I hope my signals can bring you profits, if you like my views, please support me and follow me!
Long
by Roey_
2
EUR/USD keeps range below 1.1000, looks to buy ahead of CPIThe EUR/USD pair is struggling to extend its recovery above the 1.0980 immediate resistance at the start of the European session. The pair has felt the downside pressure as the US Dollar is seeing some renewed buying interest ahead of the important US CPI data release. The EUR/USD currency pair has dropped below the 20-day Simple Moving Average (SMA) for the first time since mid-March. While the main bias remains bullish, the Euro is currently lacking strength, raising the risk of a deeper correction. To open the door for further upside, the common currency needs to have a daily close above 1.10150 or a firm break of 1.10530. Ahead of the Asian session, EUR/USD is showing a bearish bias, but it has found support above 1.0952 and the 200-period SMA on the 4-hour chart. However, a drop below this level could increase downside pressure, exposing the next support around 1.0927. If the pair dips below 1.0905, it can cause volatility and accelerate the price decline.
Long
by DNA_TradingFX
EurUsd -> Expecting The BreakHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that as we are speaking EurUsd is actually approaching a quite obvious previous weekly structure area exactly at the $1.115 level which is now turned resistance. However you can also see that weekly market structure and moving averages are still massively bullish, we just broke above a previous weekly swing high which is now turned support, so I am now just waiting for a deeper retest of the next $1.115 resistance before I then do expect a short term rejection towards the downside. On the daily timeframe you can see that EurUsd is once again retesting daily resistance - the more often we retest the zone the higher the likelihood that we will eventually break it - so I am now just waiting for a clean break and retest of the current resistance before I then do expect more continuation towards the upside to then retest the $1.115 resistance. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
42