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Eurusdidea

EURUSDThe euro initially tried to rally on Friday but gave back gains to show signs of hesitation. The 1.06 level continues to be a massive barrier that traders cannot get beyond, and even if we did break above there, it is likely that we will find plenty of reasons to short this market. If we can break above the 1.06 level, then it is likely that we will go looking to reach the 50-day EMA. After that, the 1.08 level would be massive resistance as it was significant support previously. The “market memory” attached to this level will attract a lot of attention. That being said, I do not think that we will go that high in the euro, as there are plenty of reasons to believe this market will continue to drop. The overall downtrend continues to be strong, and I think will accelerate given enough time. After all, the European Central Bank is in no position to tighten monetary policy, especially as we are already starting to see signs of a potential German recession. Because of this, I think that it is only a matter of time before the euro falls, due to the fact that the ECB will have to keep monetary policy loose for quite some time. The 1.05 level would attract a certain amount of attention, as it had previously been supported. However, if we break down below there it is likely that the euro will go looking to the lows again, near the 1.0350 level. If we break down below there, then it is likely that we will continue to go much lower, based upon the overall trend and the bearish flag that we had formed previously. In fact, we are retesting this area, so one has to take a look at that as a potential reason to short the market as well. Based on the “measured move” of the bearish flag, it is likely that we will go looking to the 1.01 level. After that, we could go looking to the parity level. This is a market that will continue to fade rallies and push lower, especially as Jerome Powell has made it abundantly clear that the Federal Reserve is perfectly fine with the markets being broken, meaning that they will stay tight for quite some time.
by SmoothJB
EurUsd- Best place to sell for joining the trendYesterday I've written that I expect EurUsd to drop towards parity (and even lower in fact). As we can see from the daily posted chart, after reaching the 1.0350 low, the pair is on the rise. In my opinion, this is just a correction and can offer bears a good selling opportunity to join the downtrend. 1.0750-1.0800 is a clear horizontal resistance and here I will look to sell. EurUsd back above 1.10 would negate my bearish outlook
Short
by Mihai_Iacob
2
EurUsd- Slowly-Slowly towards parityLast week, EurUsd broke under 1.05 support and has made a low at 1.0350. Afterward, the pair recovered and has risen above 1.05. Although we have this recovery from the low, looking at the daily posted chart, we can see that the price is under 20d SMA and this is pointing down, indicating still a strong bear trend. I expect USD bulls to remain in control in the future and the pair to continue its drop to parity in the medium term. 1.0650 is resistance now, followed by the strong 1.0750-1.08 one and in these zones, we can look for selling opportunities for a great risk: reward for swing traders. Best Regards! Mihai Iacob P.S: Please share your opinion or your charts in the comments section below!
Short
by Mihai_Iacob
7
EUR/USDThe Euro fell quite firmly last week to reach a new 5-year low against the US Dollar. The low of the week was only a few pips higher than the 19-year low. European currencies are generally weak, and the Euro is of course the major European currency. We see a bit of a lower wick in the weekly candlestick, and of course there is likely to be support kicking in if the price reaches the 6-year low at about $1.0335. With a still-strong US Dollar, the price here looks likely to fall further over the coming days. However, bears will ideally want to see a down day on Monday, with a New York close below $1.0378 before entering a new short trade. I will be prepared to enter a new short trade if we get a daily (New York) close below $1.0378.
Short
by SmoothJB
EURUSD_D1 looking Bullish Divergence Consolidation zone breakoutEURUSD_D1 Consolidation zone breakout but the RSI looking Bullish Divergence, if this breakout is false breakout we see bulls rally. So let see tomorrow D1 candle if Tommorrow D1 candle is going up and retest the consolidation zone and next week bulls contineu so the consolidation zone breakout is false, if retest and contineu falling eurusd next will be 0.8 area. Traders Share your opinion in comments, Like and Follow me. Thank You...
Long
by amzadlak
EurUsd- Do we have a genuine break?In my yesterday's EurUsd commentary I said that I work with two bearish scenarios: 1. A retest of 1.08 and fall after 2. A direct break under support without a test At this moment, after almost 2 weeks of consolidation in a rectangle, EurUsd is trading under 1.05 important support. Considering the time of consolidation and the incapacity of the pair to pass above 1.0650 I believe this is a genuine break. My long-term target, as you know, is the 0.85-0.90 zone, as for the short term, 1.03 can be a good price for bears. As long as the price is under 1.0650 sell rallies can be a good strategy with the focus on a good R: R rate.
Short
by Mihai_Iacob
4