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Eurusdtrading

EURUSD might fallEURUSD flirting on resistance price zone at €1.08 but also still on support trendline daily. Usually, based on price behavior (human psychology, maybe?), selling is stronger at below exact round number (below € 1.10), so I'm bearish for this pair. If it fall, target@TP1 should at €1.06 (200 pips), TP2 €1.04 (400 pips) and TP3 €1.02 (600 pips). Waiting for it to break recent swing low for bearish confirmation before take sell. What do you guys think?
Short
by UnknownUnicorn33119711
EURUSD: Seeking the new Support. First buy attempt.EURUSD is having a strong technical selling sequence following the HH rejection (July 18th) at the top of the long term Channel Up pattern. The 1D timeframe turned neutral (RSI = 45.045, MACD = 0.005, ADX = 28.669) and as the price is near the HL trendline, it justifies a first buy attempt. Our sell target and buy entry from last week (chart at the end of the idea) was 1.09800 anyway and the target the top of the Channel Up (TP = 1.13250). It is possible for the market to seek the 1D MA50 too (1.09200) but if it closes a candle under it, then it should extend the selling to the 1D MA200 (TP = 1.08000), where it will turn into a long term buy opportunity again. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
8
Eur Usd Scalp LongBullish Analysis for EUR/USD Scalp Long from 1.10042 - 1.09895 - 1.09778 (Bearish Correction) Introduction: Within the context of a bearish trend in the EUR/USD currency pair, a short-term bullish correction seems to be developing. This analysis focuses on the potential for a scalp long trade within the specified price range of 1.10042 to 1.09778, taking advantage of the expected temporary upside movement. Bearish Trend in Place: The EUR/USD pair has been in a sustained bearish trend, with a series of lower highs and lower lows on the price chart. It is essential to acknowledge this overall trend and understand that the scalp long trade being considered is a short-term counter-trend move, not a full-fledged trend reversal. Corrective Price Action: During a downtrend, it is common to witness short-term corrective price movements that run counter to the main trend. The price range from 1.10042 to 1.09778 appears to be one such area where buyers have stepped in to create a temporary correction, potentially retracing part of the recent bearish move. Overextended Market Conditions: The bearish trend may have led to oversold market conditions on various oscillators and short-term indicators. This oversold state indicates that the selling pressure might have exhausted itself for the time being, making room for a short-term bounce to the upside. Risk-Reward Opportunity: Given the potential for a short-lived bullish correction, a scalp long trade from the specified price range offers an attractive risk-reward opportunity. Traders can target a relatively modest profit within the correction, while keeping stop-loss levels tight to protect against a potential resumption of the primary bearish trend. Conclusion: Considering the prevailing bearish trend in EUR/USD, the potential for a short-term bullish correction from 1.10042 to 1.09778 is worth exploring for a scalp long trade. However, it is crucial to approach this trade with caution and strict risk management, as the primary trend remains bearish. Scalp trades can be highly sensitive to market fluctuations, and traders should be prepared to act swiftly to secure profits or limit losses. Always monitor the price action closely and be prepared to exit the trade if the underlying bearish trend reasserts itself.
Long
by realtrademaster
EURUSD: Technical correction targeting the 1D MA50.EURUSD has started the medium term correction inside the long term Channel Up after it hit the top and made a HH. The 1D technicals may not be overbought any more but remain bullish (RSI = 60.317, MACD = 0.009, ADX = 35.910) illustrating that there is still way for the price to decline before they find a balance. We expect that to be on the 1D MA50, unless the 1D RSI rebounds on the HL trendline. If not continue selling to the price's HL and the 1D MA50 (TP = 1.09800). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
8
EURUSD: First time over the 1W MA200 since November 2021EURUSD crossed today over the 1W MA200 for the first time since November 8th 2021. This more than 1.5 year wait comes as an incredibly strong long term bullish signal if the 1W candle closes over the 1W MA200. If it does, we will buy and target the R1 (TP1 = 1.13900) and R2 (TP2 = 1.15000). If it doesn't, then expect a rejection as this is the top also for the Channel Up and the 1D timeframe is already overbought (RSI = 73.402, MACD = 0.006, ADX = 28.802). The RSI in particular is at the top of its Rectangle pattern which matches the price's Channel Up. Consequently if the candle closes under the 1W MA200, we will sell and target the 1D MA50 (TP = 1.09500). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
6