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EurUsd - 1.000 Pip DropHello Traders, welcome to today's analysis of EurUsd. -------- Explanation of my video analysis: EurUsd has been trading in a pretty obvious descending channel for over a decade and is currently retesting the top resistance of the channel. Furthermore there is a horizontal structure level around the $1.09 level which is also acting as resistance. I am expecting more bearish pressure on EurUsd to eventually retest the lower support of the channel pattern. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
by basictradingtv
1
EUR/USD Shorts from 1.09000 back downMy bias aligns closely with GU this week, focusing on selling from a comparable supply level evident on both charts. On EU, this manifests as the 4hr level around 1.09000, where I intend to sell. I'll await the current price to pull back into these zones to address the imbalance and form a redistribution pattern. Similarly to GU, there's a minor 4hr supply below that I anticipate will fail due to the presence of the Asian high above it. Once this fails and reaches the major supply, I'll be more inclined to sell from there as it offers a premium price. Confluences for EU Sells are as follows: - Price broke structure the downside and left a clean 4hr supply zone. - Imbalances that needs to b filled before tapping into the supply. - Lots of liquidity below in the form of asian lows. - Price is overall bearish on the higher time frame. - I can see the dollar to rising more to the upside. P.S. I observe the current price reacting to the existing demand. If this reaction fails, price might respond bullishly to the demand just below, potentially initiating an upward move towards the supply levels above. Have a great trading week guys!
Short
by Hassan_fx
2
EurUsd is testing support. What can be next?In my previous analysis of FX:EURUSD , I mentioned that once the pair breaks and stabilizes above the 1.08 zone, we could expect a rise toward 1.1. Indeed, that scenario played out, and after reaching a high near that zone, EURUSD began to correct. Currently, the pair is trading near an old resistance, which has now turned into support. Typically, we would anticipate a new upward movement from this point. However, in my opinion, this will not be the case due to the structure of the rise from 1.07. It lacks impulse and can be interpreted as an ABCD type of correction for the initial downward leg from the beginning of the year and the strong sell-off from last week. In conclusion, I am looking to sell rallies in the 1.0920 zone, anticipating a break below confluence support and a drop back to the 1.07 zone once again.
Short
by Mihai_Iacob
1
Let's Talk Liquidity! ⚒️At first, Liquidity may seem like an abstract and confusing concept reserved for only those Finance nerds and geeks to tackle. Turns out it's really not too sophisticated after all and can be though of in terms of Fomo. Fomo if you are not aware already is simply a concept related to chasing the market because of a Fear of missing out. Any action out of fear is typically not the best choice. In trading, this is especially true. Liquidity is what the market needs prior to a big move. Liquidity doesn't necessarily mean that the market needs to pin an extreme low or high from the previous session. Liquidity is also gathered when the market ranges/consolidates for awhile. If you go back and backtest, you will observe that preceding a large move, the market usually consolidates first. Liquidity also dries up during Asian session. You can observe that the volatility is much smaller than London/Ny session as the market moves alot less # of pips. Liquidity dries up prior to news annoucnemnts becuase of uncertainty obviously. This is the very reason why the market moves so much during news is because of lower participation from larger market participants, therefore an increased chance of wild and random price movements. This is explained more in depth in this concept video, Let's talk Liquidity.
Education
by ShrewdCatfx
FOMC this week, how should you trade EURUSD?After reaching the 1.0970 level, EUR/USD has pulled back strongly and currently, price is hovering below the 1.09 level. With the super-important FOMC event on Wednesday, major market players are on the sidelines here. Technically, the dynamic support on the 4H chart is holding so far. We recommend traders to stay away from executing any new trades before the FOMC event. The key resistance levels are at 1.10 and 1.1140. If price spikes to any of these key levels during the event, we may consider selling EUR/USD provident there is bearish price action.
by KaltoireCapital
6
EUR/USD Longs from 1.08600 back up to 1.09400EU is following a pattern similar to GU as anticipated, so the approach will be similar. I'll be seeking buying opportunities near the current price, given the presence of a 6-hour demand zone that prompted a Breakout to the Upside (BOS). If price approaches this zone, I anticipate a Wyckoff accumulation formation before entering buy positions. However, there's an Asian low beneath the zone, so I need to exercise caution regarding the potential buy. If we witness a successful reaction, I anticipate a price rally to fill the imbalance above, eventually leading to the mitigation of the 17-hour supply zone for potential selling opportunities downward. Confluences for EU Buys are as follows: - Price is approaching a decent level demand on the 6hr. - Imbalances and liquidity above that need to be mitigated. - Price has already been moving recently bullish the past couple weeks. - After asian low gets taken I can expect price to slow down and accumulate. P.S. With the shift in price character to the downside, this could represent a temporary retracement. However, if price persists in breaking structure to the downside, there's a possibility of this demand failing and selling pressure becoming more dominant.
Long
by Hassan_fx
4
Euro Futures SupportAccording to the latest sentiment analysis data open source, the bullish sentiment on the Euro remains strong. The data shows that the number of short traders are more than long traders which mostly leads for furher upmove. Option Trades Sentiment Option trades sentiment is another important factor to consider when making trading decisions for us. Based on the latest option trade analysis data from CME exchange, option trades data on the Euro is also bullish. The baseline is that naked puts can be easily convert in to syntetic long positions. Options traders commonly use this technique due to the leverage effect in options trading. Buying activity at this level can have a significant impact. However, the presence of strong support does not guarantee that quotes will head towards this level. Growth may continue without a break.
CME:6EM2024Long
by ClashChartsTeam
Weekly Price Review / EurUsd 2nd Week March 24'🏗️We Depreciated -46.4 Pips this week on EurUsd. This was due to profit taking from the increase in recent weeks, CPI data that wasn't favorable for the Federal Reserve's goals, and confluence with a Weekly Resistance Level 1.095. In this Analysis we begin by looking at how the Monthly and weekly timeframes pulled to the downside. We then go down to the 30 minute timeframe where we observe market structure and analyze how news releases impacted price behavior. We finish the analysis by breaking down price behavior on a session to session basis throughout the week. 0:0 Monthly timeframe and Introduction 1:19 Weekly Timeframe 2:10 daily timeframe 2:39 4hr timeframe 3:15 30m timeframe and Analysis Leave a Rocket and/or comment below for similar videos.
by ShrewdCatfx
2
EurUsd Slightly Lower after Inflation Day 🎛️Hello Traders welcome back to another Top-Down Analysis of EurUsd. Today was CPI Inflation day and the market is about Break Even after the Day's trading. At One point EurUsd had depreciated in favor of the USD by about +.21% but we have since retraced .. possibly from profit taking and normal market movements. 0:0 Monthly Timeframe 1:51 Weekly timeframe 2:35 Daily timeframe 4:17 4Hr timeframe 5:55 1Hr timeframe We observed an increase during Asian session back towards our weekly level 1.095 that was duly corrected as is expected from an Asian session move. London session corrected the Asian session move back to near the open of the Daily candle where we observed a bounce prior to CPI inflation data news release. CPI whipsawed down dramtically as the numbers were better than expected for the dollar at 3.2% (better than the 3.1% y/y). This opposes the Fed's goal of 2% y/y so it'll be interesting to see if we continue to reject 1.095 Weekly level in the ensuing days after CPI release. Our First target for Shorts would be a retest of the Lows created today at 1.09092 and possibly we touch 1.08722 in coming sessions. The fundamental reason would be market particiaptns flocking into the dollar as a safe haven asset since the Fed is moving in the wrong direction, and away from its 2% y/y goal.
Short
by ShrewdCatfx