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Eurusdoutlook

EUR/USD could be due a break from its bearish drubbingHaving fallen for six consecutive days, bearish momentum on EUR/USD is beginning to fade. Tuesday's low also held above the 1.06 level and 71.6% Fibonacci level whilst RSI (14) and (2) are in oversold levels on the daily chart. The 4-hour chart shows bullish divergences on the RSIs, so the bias is to seek dips towards 1.06 for a long towards 1.0650 at a minimum. As we suspect some mean reversion higher is due - even if only temporarily.
Long
by CityIndex
EURUSD WEEKLY BIASEURUSD is bearish till my golden and final zone. The EUR/USD pair is one of the most widely traded currency pairs in the world. It represents the exchange rate between the euro, the official currency of the Eurozone, and the US dollar, the currency of the United States. Traders and investors closely monitor this pair because it reflects the relative strength of these two major global economies and can be influenced by a wide range of factors, including economic indicators, central bank policies, geopolitical events, and market sentiment
Short
by Po3_Trader
2
EurUsd: Short-Term Eur strength & Pullback possibleHello Traders.. Another week and more price action to anticipate in the Forex market. EurUsd: As we enter the 4th week of April our Monthly candle is still bearish with a solid bearish body. Last week we came very close to a Monthly support level at 1.057. The low of the week was on Tuesday and coincided with a Hawkish Fed speech. The weekly candle closed bullish and we now have a weekly support level at 1.0649. The weekly candle closed a small body doji - looking candle with a larger top wick. The new week gapped up 5 pips. The daily candle's price action from last week looks quite subdued. Looking for buys on EurUsd still apears risky to me as we still have hot jobs data and rising inflation. We had hawkish fed speech last week which means higher potential rates for the USD. This means USD could be increasingly used in the Carry trade, an even better reason to look for USD strength. Not much has changed and yes we can observe a pullback , with Eur Strength. Overall bearish on EurUsd but trading a pullback to the upside is definitely possible. We'll have to see how EurUsd reacts with the Daily resistance level 1.06726. The USD Index ended last week pulling back from a Daily Resistance level.. and we've done exactly that after 8 hours at the beginning of this new week. This could indicate Eur strength in the coming 2 sessions. Although I'm anticpating a higher Vix and lower Oil prices. It may be too early in the week for a Lower EurUsd.. we may observe short term Eur strength as a result.
by ShrewdCatfx
EUR/USD Shorts to Long idea My bias for EURUSD is similar to GBPUSD, as I'm seeking selling opportunities towards a demand zone. There's a 10-hour supply zone that I'm eyeing for potential sells to continue the downtrend. I'll be waiting for a high to be swept during a Wyckoff distribution before entering my sell positions. Following this, I anticipate price to decline towards the 3-hour demand zone, which coincides with the 3-hour demand area for GBPUSD. I'll then look for a Wyckoff accumulation phase to ride price back up and fill in the major imbalances left from the upside. Confluences for EU Sells are as follows: - Price has been very bearish recently and confirms this via continuous break of structures. - Good 10hr supply that has recently been created which also caused a BOS. - Theres an imbalance below that needs to get filled as well as lots of liquidity to be taken. - The overall trend of the market on the higher time frame is bearish as well. - DXY also looking bullish as well and it's aligning very well with EU's Zones. P.S. If the demand zone fails, it will break a significant level of structure, making selling positions more favorable. Currently, bearish momentum remains strong, and I anticipate further downside movement. Have a great trading week remember risk accordingly and maintain emotional discipline!
Short
by Hassan_fx
USD strength on Fear surrounding Israel Airstrikes 🗒️Hello traders.. Unfortunately, as War Conflict continues in the Middle east, the USD is feeding on the Fear and Uncertainty by acting as a safe haven during the final Asian session of the week. Earlier & During NY today, roughly 20 minutes before NYSE open, at price 1.06638, I created an update to our previous EurUsd Analysis. I mentioned that price may instead be retracing back towards 1.06345. The reasons were clean traffic to the left on the 1hr/4hr, the bearish 4hr candle close(that engulfed the 3 previous 4hr candles), 1hr resistance zone 1.06855 was respected during London Open, and most importantly perhaps was that we created a bearish scenario for a selloff prior to it occuring--> price may close below 1.0669 1hr support zone & do a retest before heading down. This is exactly the scenario that played out. Now here we find oursleves back at the lows of structure and the weekly candle is about break even. No news for the remianing sessions. Anticpating some clean price action to end the week.. Where? Bears need to get past the daily support level at 1.06184 and I dont see that happening tbh bc no red folder data. I can see us ranging and being choppy on this friday so beware. We may increase back to 1.0605 1hr resistance zone for a bullish scenario
by ShrewdCatfx
1
EURUSD Profit Opportunity with the Crab Harmonic PatternEURUSD is currently displaying characteristics indicative of a Crab Harmonic Pattern (XABCD) formation. This pattern is observed alongside a significant trendline, adding further confluence to our analysis. Key Levels and Fibonacci Retracement: Point D of the Crab Harmonic Pattern coincides with a key resistance level, accentuating its significance. Additionally, Point D aligns closely with the 0.618 Fibonacci retracement level, strengthening the case for a potential reversal. Trade Setup: Based on the analysis, we recommend initiating a short position upon confirmation of bearish momentum at the identified entry point of 1.06626. This entry aligns strategically with the projected reversal from Point D of the Crab Pattern. Risk Management: To mitigate potential losses, a stop loss is advised at 1.06913. This level provides a reasonable buffer to withstand potential market fluctuations while preserving capital in case of adverse price movements. Profit Targets: We propose three profit targets to capitalize on the anticipated bearish momentum: Take Profit 1 (TP-1): 1.06344 Take Profit 2 (TP-2): 1.06048 Take Profit 3 (TP-3): 1.05760 Conclusion: In conclusion, the analysis suggests a compelling trading opportunity based on the formation of a Crab Harmonic Pattern and key technical levels. However, it is essential to exercise prudent risk management and closely monitor price action for timely adjustments to the trade plan. This technical analysis report serves as a guide for informed decision-making in the dynamic forex market environment. Disclaimer: Trading forex involves inherent risks, and past performance is not indicative of future results. Traders should conduct their own research and seek professional advice before executing any trades.
Short
by trading_jupiter
EUR/USD defends 1.06, can it move up to 1.0750?Hello traders, EUR/USD has managed to defend the 1.06 level so far. Currently, on the 4Hour chart, we are seeing the formation of a bullish candlestick. So, the question is whether there will be a sustained recovery in EURUSD? The first resistance level for the EURUSD bull lies at 1.0665. If the bulls manage to break this level strongly, then there can be further gains in EURUSD. In case of the bullish scenario, I would expect price to reach 1.0760 level. As long as 1.06 level remains unbroken, I would continue to buy the dips in EURUSD
by KaltoireCapital
6
EURUSD: Strong US retail sales push the dollar to new highsThe US economic system acquired a super improve from an first rate growth in retail income in March, which contributed to a sturdy monetary enlargement and a massive strengthening of the greenback. in comparison to different principal currencies. The greenback`s upward push comes amid issues approximately China's economic system, which, despite the fact that first-area annual GDP boom of 5.3% handed expectancies, noticed zone boom and income growth. Retail income in March did now no longer meet forecasts. Furthermore, China's new domestic costs skilled their sharpest decline in 8 years and actual property funding fell almost 17% yr-on-yr. The US greenback index hit a five-month excessive on Tuesday, marking a 4% advantage during the last six weeks. This growth comes as expectancies for hobby fee cuts through americaA Federal Reserve (Fed) are shrinking, even as different critical banks are going through stress to loosen economic policy. As a result, the euro, China's offshore yuan and the British pound fell to their lowest ranges in opposition to the greenback because November. The Japanese yen additionally weakened to a brand new 34-yr low of 154 .60 in line with greenback and forex volatility measures hit their maximum in extra than months.
Short
by Chart_MasterPro
EURUSD Technical Analysis and Trade IdeaIn this video, we explore a trading approach for the EURUSD pair. Our analysis suggests a potential trading opportunity. We provide an extensive analysis of the current price trends, carefully assess the market structure, and consider the dynamics of the market. When conditions are favorable, we identify a possible entry point. However, it’s critical to highlight the necessity of employing effective risk management tactics. Please be aware that this video is designed strictly for educational reasons and is not meant to serve as financial guidance.
by fxtraderanthony
EUR/USD imminent Longs up towards 1.07000 This week's bias closely resembles that of GU, where I'm seeking buying opportunities towards a subsequent selling position. With price melting down and breaking structure to the downside, it has created numerous imbalances that need filling, prompting this bullish outlook. I'll be patient, waiting for the accumulation phase to complete along with a confirmation of change of character (CHOCH) to enter buy positions aiming for the newly established 10-hour supply zone. Subsequently, I'll look to initiate sells to continue the bearish trend downward. Confluences for EU Buys are as follows: - Price left so many imbalances above that need to be filled. - In order for price to continue the bearish trend price must pull back up. - Price is currently inside a 18-hour demand zone with a good initial reaction. - DXY is also near a good supply zone so could expect the dollar to drop a bit this week. P.S. Given the Asian low within my zone, I wouldn't be surprised if price dips further to test a deeper demand area below. Nonetheless, these long positions are merely a temporary move to realign with the prevailing bearish trend. Have a great trading week guys!
Long
by Hassan_fx