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Eurusdsetup

Trading Idea Regarding EURUSDAccording to my analysis this currency pair is going bearish inshallah My Analysis consist of the Fallowing Four Steps 1------->Behavior: *Market Structure(M.S)------> Moving in side ways direction after strong move to the upside in 4 hour Time Frame *S&R------> Price has reached strong resistance zone(Bearish move is expected) *Trend Line------> Price has reached strong falling resistance zone (Bearish Behavior) 2------>Momentum: *Previous Candle Close(P.C.C)------> Bullish close (a little pull back is expected before continuation of downtrend) *Current Candle Close(C.C.C)------> Inverted hammer appear in pull back and close bearish(continuation of downtrend) 3------>Chart Pattern M30 Time Frame: *Breakout Raising Channel------>Breakout the raising channel and now retesting it indicating continuation of bearish behavior *Double Top Chart Pattern------>Has created the double top chart pattern which also indicating continuation of bearish behavior 4------>Entry/Exit Point: *Entering Point------> Enter the market after the breakout of the structural low of double top chart pattern *Exit Point------> *Stop Loss------> Stop Loss above the structural High *Target------> TP1 Strong Support zone in 30 mint Time Frame *Target------> TP2 Strong Support zone in 30 mint Time Frame
Short
by Inzamam9012
EURUSDThe euro had been weak for a long time, causing this currency pair to continue in its relatively bearish consolidation pattern over recent months. Last week’s release from the Federal Reserve created a strong surge in the dollar, and due to the continuing weakness of the euro, we saw the price of this currency pair fall unusually sharply to end the week at an 18-month low on above-average volatility. A bearish retracement will quite possibly happen, but there is a good chance that we are going to see the bearish momentum continue over the next few days, due to the above-average volatility and fundamental factor behind the price’s fall. For these reasons, I see this currency pair as an attractive short trade.
Short
by SmoothJB
EUR/USD Forecast: Euro Collapses Amidst US Dollar StrengthThe Euro has broken down rather significantly during the course of the trading session on Thursday as we continue to see a lot of negativity out there. The 1.12 level being broken through is a very significant turn of events, and as a result it is likely that we could go looking towards the 1.10 level underneath. All things being equal, if the market does bounce from here, it is very likely that we could see plenty of selling based upon the fact that the 1.1225 level had been significant support previously and should be resistance going forward. The 1.12 level could offer a bit of selling pressure due to the fact that we had bounced from there previously as well, and any type of exhaustion that shows up near that area should be sold into from everything I see. The size of the candlestick is a very negative as well, and therefore it is likely that the markets will find some type of continuation at this point in time. The fact that we are closing towards the very bottom of the range typically means there is a bit of follow-through coming so keep that in mind. The 1.10 level underneath will be a big target, and almost certainly cause quite a bit of psychological support if nothing else. I do believe that this market is simply a reflection of the fact that the US dollar has been so strong against everything else and more than likely will continue to be. I do not have a scenario in which I would be willing to buy this pair until something fundamentally important changes. We may get the occasional bear market rally, but that will simply be an opportunity to sell at a higher level yet again. Keep in mind that interest rates in America exploding to the upside while the ECB has absolutely no plans on tighten monetary policy will have an effect on this market as well, so it is likely that the pair will continue to see a lot of negativity. The 50 day EMA above being broken might convince me that the market is going to change, but until I see that I just do not see the path higher, at least not in the short term as we have so clearly broken through major support yet again.
Short
by SmoothJB
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