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Eurusdshort

EURUSD: Bearish Reversal Idea, Seasonal AnalysisBearish Indications • Resistance Zone at 1.06428 • Seasonal Analysis show EXY remains Bearish in January 60% of times. • DXY is in a Bearish Trend on Weekly time-frame. • Gartley’s XABCD the point D indicates a reversal in the Zone of 1.06428 to 1.06605 • Monthly Seasonal analysis shows DXY remain Bullish in January 60%. • EXY remained Bullish in December 2022 which indicated to a point that seasonal are working so far. • Weekly Seasonal Analysis show EURUSD remain Bearish in 3rd Week of January • DXY is at a significant Support Zone 103.780 from where a bounce back is possible. • Slight Divergence spotted on ChandeMO Oscillator on EXY . Bullish Indications • 4hrs time-frame Higher Highs and Higher Lows formation. • 4hrs time-frame Three White Soldiers candle pattern. • Significant Support Zone at 1.06322 • EXY is in a Bullish Trend on Weekly Time frame. • Weekly Seasonal Analysis shows EURUSD remains Bullish in 2nd Week of January. • On Weekly timeframe DXY price action show an inverted hammer candle which indicates sellers are in control. • Traditionally EXY and DXY are negatively correlated. Biased : Short Trade PLAN (Short) Entry: 1.06556 (Fib Lvl 78.6%) TP: 1.05711 (Fib Lvl 38.2%) Stop Loss: 1.06881 ( Support area / Higher High/ Fib Lvl 88.6%) Risk/Reward: 1:2.39 N.B. Manage your Risk Accordingly.
Short
by adnanmagsi
EURUSD - Boom or BustNFP around the corner, will it strengthen USD or weaken sentiment? EURUSD is at monthly channel low, good upside potential (macro) DOW is also at monthly low, be interesting to see what run bullish as it will determine the direction of the EURUSD pair. DOW + Bullish = EURUSD Bearish Negative NFP reports could push DOW into new lows and set the EUR off on it's bull run. Also quite difficult to give an accurate estimate because rates are still so high and with so much quantitive easing post covid from both the USD and EUR it's hard to tell what will happen. Good time for reactive trading, rather than predictive.
by Quantified
6
Did EurUsd topped?EurUsd has started the year badly, with the first trading day of 2023 being a red one, but more importantly, marking the up break from last Friday as a false one. On 3rd January we have a new long red candle that also breaks under a small double top pattern and yesterday's candle, a new drop with the candle engulfing the 4th of January correction. The all, put together, could give us an idea that the 3 months correction is over and the most traded pair is ready to resume its long-term bearish trend. Short-term traders could focus on the 1.0580 zone resistance and target the 1.04 support and medium-term traders can aim for the 1.02 important one. Negation comes with a new high above 1.07. Anyway, as I said multiple times in my previous analysis, there si nothing fundamentally that supports higher prices for Eur above 1.08, and this year I expect a new visit under parity if not even a new low.
Short
by Mihai_Iacob
13
EURUSD may drop to monthly supportCurrency Pair : EURUSD Possible direction : Bearish Technical Analysis : Price has broken out of daily support and showing strong bearing momentum on daily and 4h. Current session candle has a very weaker response from the buyers. Fundamental : Positive ADP Non Farm Employment change data has given a strong boost on USD Possible trade recommendation : Bearish as per chart Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Short
by ForexWizard01
6