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Eurusddaily

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
EURUSD : OVERWHELMED BY THIS SITUATION!Hi traders! Here we have one of the hottest trade that I had to draw of 2017. This is all kind of crazy! EURUSD is trying to get over that 1.20. It couldn't do it the first time but hasn't fallen much either after. This could indicate that buyers are still there support that idea. Now I had to look back in time to see that we had a order block on the weekly timeframe which is just above the current price. We also have a daily one that just created itself just below the price. To add to this awesome trade, we are stuck in a symmetrical wedge. But wait that's not enough because we have the FOMC news coming up this Wednesday to stir up everything in the forex market. This looks like it will break both ways before going hard.... in just one way. Which one is it though? Last time the Fed said anything, DXY got crushed. If they haven't changed their overall stand, we may have the same faith. Here is what I'm thinking : EURUSD BUY LIMIT : ENTRY : 1.19061 SL : 1.18344 TP 1 : 1.20946 TP 2 : 1.22019 Giving us the best chance of not getting wick-ed out of this trade. RR is nice also when trying to get an entry lower in that wedge. Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
1
EUR/USD begins new week near weekly PP at 1.1938Morning outlook - EUR/USD begins new week near weekly PP at 1.1938 Due to release of negative data on the US Core Retail Sales, the Euro caught an upside momentum, which lasted until the pair met a resistance in the 1.1985-95 area. At the moment, the currency rate is located near the updated weekly PP at 1.1938, being squeezed between the 200- and 100-hour SMAs. Accordingly, an aggregate of technical indicators sends either neutral or ordinary buy signal. This fact as well as the traditional Monday's inactivity suggests that the pair is unlikely to make major advances today . However, generally, the pair is expected to make attempt to break through the above resistance towards the new weekly R1 at 1.2039. On the other side, an average market sentiment remains 65% bearish, which means that in case of a new rebound bears might try to drag the rate down to the monthly PP at 1.1881.
by UnknownUnicorn890690
EURUSD : SECOND ROUNDS ON ME?Hi traders, The EURUSD took a dip when it went over 1.20. The thing is... it broke through so this means we will see that price again very soon. EURUSD is still within it's uptrend channel. DXY topped @ 92.00 during a nice bull run yesterday but has now retrace (may have been a top) I looked in a lower timeframe (4H) and it looks like we may have reached the end of this retracement down. Nothing is really sure at this level but it does look good. RR is always important and this looks like a nice one. EURUSD LONG : ENTRY : 1.19596 TP : 1.22700 SL : 1.18939 Trade safe!
Long
by ScottMescudiForex
2
EUR/USD slips to weekly PP at 1.1999Morning outlook - EUR/USD slips to weekly PP at 1.1999 On Friday, the currency exchange rate acted in accordance with one of the scenarios, which suggested that as soon as markets will calm down the buck is going to try restoring some lost positions. Indeed, after failing to jump above the monthly R1 at 1.2099 the pair switched a direction and ended the week near the combined support level set up by the 55-hour SMA and the updated weekly PP at 1.1999. It seems that the turnaround was partially attributed to clash with the upper boundary of a medium-term rising wedge, which can be clearly seen on a daily timeframe. From this larger perspective the rate is expected to continue to gradually slip to the bottom. However, in the short run these attempts most likely will be neutralized by the 100- and 200-hour SMAs.
by UnknownUnicorn890690
EUR/USD under pressure from moving averagesMorning outlook - EUR/USD under pressure from moving averages By the end of the previous trading day the currency pair had expectedly made a breakout from a short-term symmetrical triangle. The only difference from similar cases was that it did not choose a clear direction but, instead, continued to move horizontally. However, today this flat movement is expected to end, as the rate is experiencing pressure from a combination of the 55-, 100- and 200-hours SMAs, which are located slightly below it. Once the pair will manage to break through the weekly PP at 1.1918, it will have a barrier-free area up until the weekly R1 at 1.2013. The eventual surge is expected to happen despite that 65% of open positions are short.
by UnknownUnicorn890690
EUR/USD prepares for Draghi and Yellen speechesMorning outlook - EUR/USD prepares for Draghi and Yellen speeches An hourly chart reveals that the Euro is moving against the American Dollar in a short-term symmetrical triangle, as traders await both Mario Draghi and Janet Yellen speeches that will be delivered later this day at the Jackson Hole Symposium. From a technical perspective, a breakout to the northern direction seems more possible, as the currency pair experiences pressure from the 55- and 100-hour SMAs from the bottom. In addition, the upper area lacks any notable resistance barriers in the next 45-pip range. However, if the downfall happens, then in the worst case scenario it should be stopped by the 100% Fibonacci retracement level at 1.1714.
by UnknownUnicorn890690
Long EURUSD Longterm Based on Weekly + Monthly TimeframeFollowing a downtrend on the EURUSD , price has been ranging since January 2015 and formed a triple bottom, which has been validated by the recent break of the neckline. Ideal entry would have been at the close of the weekly candle above the neckline, however, with our long term goal of 1.214 we may still have the opportunity to jump in on this long trade. I believe fundamentals are in our favour of this position and multiple indicators show room for a good leg up on the monthly timeframe. I will be monitoring this pair on multiple time frames. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786