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EURUSD / MEDIUM TERM ANALYSIS FX:EURUSD / MEDIUM TERM ANALYSIS When you try to take a position on the market, always study the chart from different points of view and never forget the 3 rules: 1st: Cuts losses! 2nd: Cuts losses! 3rd: Cuts losses! NOTES: - In either case, you should not risk more than 2%/3% of your asset. - It does not matter if you lose a battle ... the important thing is to win the war! If this analysis can be useful for you, leave a comment or LIKE! Thank you for support!
by Allidx
EURUSD bearish butterfly reversal formation!EURUSD is forming a strong bearish butterfly reversal formation with first major resistance at 1.2289 (ABC Fibonacci extension, bearish butterfly harmonic formation) and a strong reaction could occur at this level to drive price down towards 1.2090 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EUR/USD fails to break through 200-hour SMAEUR/USD fails to break through 200-hour SMA As it was projected yesterday, bulls did not succeed to push the Euro through second combined resistance barrier formed by the weekly S1 together with the 100- and 200-hour SMAs. Accordingly, the pair made a rebound and started moving back to the monthly PP. From daily perspective bears are still expected to keep their dominance. However, on hourly chart it seems that without an additional impulse the currency rate might fail to slip below the 1.1917 mark, thus extending horizontal movement for another day. As regards an allocation of pending orders in 50-pip range, then more than 60% of them are set to sell. In the meantime, an aggregate of various technical indicators supports possibility of another rebound, suggesting that tomorrow the pair should resume an upwards movement.
by UnknownUnicorn890690
EUR/USD moves towards 1.1795EUR/USD moves towards 1.1795 New trading week the currency exchange rate started in a movement towards combined resistance level formed by the weekly PP and the slipping 100-hour SMA. Such recovery of the Euro was triggered by a rebound from support zone located between the 1.1730 and 1.1722 levels. In addition to that, depreciation of the buck signified a breakout from the falling wedge formation. In first half of this trading session the pair is expected to continue moving upwards until it reaches an area near the 1.1795 mark. The further surge is unlikely due to additional resistance posed by the monthly PP at 1.1806 and the upper boundary of a junior descending channel.
by UnknownUnicorn890690
EUR/USD falls to 1.1836 amid progress on tax reformEUR/USD falls to 1.1836 amid progress on tax reform In line with forecasts, an improvement in consumers’ sentiment dragged the pair to the weekly PP at 1.1864, while the subsequent news that two hesitating senators agreed to join other Republicans to support tax reform pushed the pair even further to the monthly R1 at 1.1826. As this barrier is located slightly above the bottom boundary of an ascending channel and is additionally supported by the 200-hour SMA, the pair is expected to make a fully-fledged rebound and start surging back to the 1.1910 and then 1.1960 levels. However, a resistance posed by the weekly PP as well as concentration of the 55- and 100-hour SMAs near the 61.8% retracement level at 1.1890 suggests that the rate is likely to make one more turnaround especially if it matches with release of info on the US Prelim GDP.
by UnknownUnicorn890690
EUR/USD climbs to 1.1940 and ready to move forwardsEUR/USD climbs to 1.1940 and ready to move forwards Even though the Euro climbed more sharply than expected amid the news that Angela Merkel agreed to form large coalition with the Social Democrats, the movement remained in line with general expectations. As long as the pair stays within the medium-term ascending channel that is backed up by the rising 55-, 100- and 200-hour SMAs, it is likely to continue advancing against the Dollar towards the 1.2000 mark that represents an intersection of the pattern’s upper boundary and the monthly R2. In shorter perspective bears might try to gain a momentum, although the plunge is unlikely to exceed the 1.1870 level, as this area is secured by the 61.8% Fibonacci retracement level, one of the above MAs and the weekly PP. However, the red scenario is unlikely due to formation of a minor pennant pattern, which presupposes further surge.
by UnknownUnicorn890690
EUR/USD halts surge amid US inflation data EUR/USD halts surge amid US inflation data In first half of the previous trading session the Euro continued to rapidly advance against the Dollar and practically reached the 1.1850 mark. However, the subsequent release of the American inflation and retail sales data that matched with analysts’ expectations returned the pair back to the 55-hour SMA near the 1.1780 level. As this moving average is additionally backed up by a combination of the 38.2% Fibonacci retracement level and the weekly R2, there is a little chance that the pair will manage to break to the bottom without proper impulse. The same applies for opposite direction, which is secured by the 50% retracement level and the monthly R1. So, this trading session the pair is likely to spend moving horizontally between these barriers unless the US manufacturing and jobs data will cause some notable price movements.
by UnknownUnicorn890690
EUR/USD starts new week near 1.1660EUR/USD starts new week near 1.1660 Despite a positive perception of ideas expressed by the US President Donald Trump at the ASEAN summit the Dollar is continuing to lose value against the Euro in a one-week long ascending channel. Although the pattern is supported by the rising 55-, 100- and 200-hour SMAs, the upcoming rebound from the 23.6% Fibonacci retracement level at 1.1679 is likely to lead to breakout to the south. This assumption is additionally backed up by the average market sentiment, which is 63% bearish. Moreover, there is a need to take into account that today there are scheduled no fundamental events that might give the pair an impulse strong enough to bypass the above resistance, which has been managing to turnaround the rate for the last two weeks.
by UnknownUnicorn890690
EUR/USD falls to 1.16 amid surprising US data EUR/USD falls to 1.16 amid surprising US data A release of better that expected data on the US ISM Non-Manufacturing PMI led to sharp appreciation of the buck against the common European currency and resulted in a breakout from two junior ascending channels. An active recovery of the exchange rate seems unlikely, as the northern is contains a bunch of technical indicators, such as the weekly PP at 1.1631 and the falling 55- and 100-hour SMAs. Moreover, there is a slope on a daily chart that is likely to serve as an additional barrier. For this reason, the pair is expected to gradually slip to the bottom towards support area near the 1.1580 mark. However, for now the rate is squeezed between two vises at 1.1625 and 1.1600 and might continue this horizontal movement until catching a proper momentum.
by UnknownUnicorn890690
EURUSD : SIDE TO SIDEHey traders! (This analysis was already shared with students) EURUSD was the first one to move down last week before every other pair followed suit. It had a considerable lead vs other majors. Now it had retraced back to 0.38 FIB extension before resuming its downtrend. It looks like it is building a new downtrend channel as showed here in my chart. MACD showing signs of weakness RSI neutral DXY somehow still bullish Here's what I'm thinking : EURUSD SHORT: ENTRY : 1.1801 SL : 1.18811 TP : 1.15789 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Short
by ScottMescudiForex
EURUSD: HELLO!Hi traders! EURUSD is kind of stuck. Other pairs have moved nicely vs the USD but EUR is doing its thing right now. It wicked both ways and it is still hanging in that order block I drew from the last analysis. I see a lot of upside since EUR since to be the last one left. DXY topped MACD crossing on the daily timeframe RSI positive still Bounced off 0.5 FIB extension, which is normal market behavior Here's what I'm thinking: EURUSD LONG: ENTRY : 1.1841 SL : 1.17670 TP : 1.20939 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
4
EUR/USD moves near 55-, 100-hour SMAsMorning outlook - EUR/USD moves near 55-, 100-hour SMAs In general, the pair continued to move horizontally between the 200-day SMA and the 100% Fibonacci retracement level, as expected. Unfortunately, none of the yesterday’s events caused any significant volatility in the markets. From technical perspective, it seems that movement of the pair was mainly constrained by the 55- and 100-hour SMAs that helped to form a minor ascending channel, which is lying perpendicularly to larger descending channel. In the first half of the day, the rate is expected to try to break through the upper trend line of the above pattern, which is backed up by the 200-hour SMA. If a rebound from the retracement level meant the beginning of a new medium-term uptrend, then the pair should eventually bypass this resistance. Otherwise, a rebound is going to follow, in accordance with the current downtrend.
by UnknownUnicorn890690
EUR/USD slips on Catalan referendumMorning outlook - EUR/USD slips on Catalan referendum In line with expectations, the currency exchange rate managed to break to the top, crossing the 100-hour SMA plus another resistance level near 1.1810. During the two-day surge the pair even formed a little ascending channel. But due to referendum on independence in Catalonia the Euro lost 0.3% against the Dollar and fell out of the channel. The fact that now the pair is located below a combination of the 55- and 100-hour SMAs, suggests that might continue to the move to the bottom. The downfall might be additionally spurred by the official comments from the EU, Catalan and Spanish governments through the day. However, this event is unlikely to change the general scenario, according to which the rate is expected to continue to climb to the top after bouncing off from the 100% Fibo at 1.1715.
by UnknownUnicorn890690
The path to the true top of 2017 EURUSDFor 2017, EURUSD , has been on a steady climb and it is becoming apparent that a test of the 2016 high has been the mission all along. Even with the Brexit situation, change in admin in the U.S., a very dovish tone from Draghi (ECB), and the whole 9 yards this pair has been resilient in , and I do say so myself, the wrong direction. Not one person in the world can explain the rise in Euro against the Dollar if you laid out all the data and political facts to study. Nevertheless I will indulge you. We would only have to point at the change in admin in the U.S. as the elephant. They seem to not be able to accomplish what they set out to accomplish in a uncharted but charted way. First, Trump never laid out any details regarding the healthcare situation just screamed bloody murder and pointed fingers. So when "his" healthcare plan came to, it was removed/fell off the high horse and was trampled on by people who wouldn't sign or approve anything without knowing the ins and outs respectively. In the same breath I would see that as sign of strength as healthcare is a part of the fabric of the United States, courtesy of the Industrial Revolution via Unions and not to mention the Constitution, which should translate to USD strength after a reasonable pullback so let's add another angle. After the initial healthcare debacle the president made a statement relative to the situation and added that he would not just move on to taxes as his tax plan would work best only after healthcare law had been put in place. Now I AM NOT A POLITICIAN OR TAX ATTORNEY but that is weird considering the tax law wouldn't take immediate effect and even if it did you would probably be creating more jobs to deal with the transition and maintenance so why not go for it and swiftly swing back around on healthcare? Nonetheless, understandably, the market priced in the delay. That leads to the final point I care to type about which is the new admin vs the FED dynamic. Let me start by declaring nobody understands Yellen's thought process so you mix that with the president sending mixed signals relative to the head of the FED, on the final term year of the FED head, about the future of the FED head. It's hard to imagine the volatility not being removed from the market on any FED decision. With that sentiment lingering i.e. buy the rumor sell the news became sell the rumor buy the news. With all that said it is still mind bending to see, EURUSD , up 1000+ pips from the low of 2017. The DXY gets stronger and EURUSD goes in the wrong direction. Euro Bulls are looking for Greenback Bulls to take the reign so they can hibernate again. Where are the Dollar Bulls? #FFT
by WealthGod6