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Eurusdtrend

EURUSD: testing 1.08 supportAs it was clearly shown in technical analysis, USD gained against EUR during the previous week. However, the saga over US debt ceiling continues, which might hurt USD in the coming period. Currently set deadline for a deal accomplishment is June 1st. After this date, Treasury Secretary Yellen noted quite a negative scenario which might happen, in case of a US default. Markets don’t like to hear such scenarios from Government officials, which is why majority of investors is currently on hold. There is still less then two weeks until June, which might be enough time to settle a proper deal. It might be expected that USD will benefit from such an outcome in the coming period. The EURUSD pair started the previous week at level of 1.09 and moved in a bearish way during the rest of the week. Support line at 1.08 has been clearly tested during the last two days of the week, but it has not been breached. Minimum level reached during the week was 1.076, however, EURUSD is finishing the week around 1.08 level. RSI is still moving close to oversold territory, but it has not been clearly reached during the previous week, leaving some space for the level of 30 for the coming period. Moving average of 50 days is still diverging from the MA200 counterpart, but the divergence is slowing down. The currency pair will start the week ahead by testing the support line at 1.08. At this moment, and considering relatively lower daily trading volumes, it should not be expected that this line would be clearly breached. Charts are pointing on a possibility for one short reversal to the upside, at least to the level of 1.09, before EURUSD reverts back to 1.08 support. Important news to watch during the week ahead are: Euro: German IFO business Climate for May, German GDP Growth rate and GfK Consumer Confidence USD: FOMC Minutes, GDP Growth Rate, PCE Index, Durable Goods orders, Michigan consumer Sentiment for May Certainly, any news on potential resolution of the debt-ceiling should be closely watched, as it might bring some market volatility.
by XBTFX
EURUSD: Next goalFundamental Overview Despite the bets for more rate hikes by the European Central Bank (ECB), the shared currency, EUR/USD, is not getting any respite. ECB President Christine Lagarde has warned that stubbornly high inflation needs to be curbed, and there are factors that can cause significant upside risk to the inflation outlook. However, this announcement does not impress investors or support the EUR/USD pair. Investors are now waiting for the ECB Bulletin for some impetus, while keeping an eye on Fed Chair Jerome Powell's appearance later this Friday. EUR/USD holds gains above 1.0800 amid weaker US Dollar, yields Plan trade in the intro
Long
by Sphyn-Trader
3
EURUSD one more upside leg coming EURUSD Analysis: Oversold Conditions Suggesting Potential Rebound The EURUSD currency pair has recently been displaying signs of being oversold on both the weekly and daily timeframes. This indicates that the selling pressure on the pair has been excessive, potentially setting the stage for a significant rebound in the near future. On the weekly timeframe, the EURUSD has been in a downtrend, with the price steadily declining over the past several weeks. This downward movement has pushed the pair into oversold territory, as indicated by technical indicators such as the Relative Strength Index (RSI) and the Stochastic oscillator. These indicators measure the strength and momentum of price movements and provide valuable insights into overbought or oversold conditions. The RSI, for instance, measures the speed and change of price movements and ranges from 0 to 100. A reading below 30 is considered oversold, suggesting that the selling pressure may have been excessive and a reversal could be imminent. Similarly, the Stochastic oscillator compares the closing price of an asset to its price range over a specific period, indicating potential overbought or oversold conditions. When the Stochastic oscillator drops below 20, it signals that the asset is oversold. When analyzing the daily timeframe, we observe a similar pattern. The EURUSD has experienced a downward trend with successive lower highs and lower lows. This consistent decline has also pushed the pair into oversold territory, raising the possibility of a price correction in the near term. Considering these oversold conditions on both the weekly and daily timeframes, traders and investors may anticipate a reversal or bounce in the EURUSD pair. If such a rebound occurs, it could lead to a substantial upward movement in the exchange rate. Identifying potential target levels for the rebound, we can look at key support and resistance levels or previous price levels of significance. Target 1 could be set at 1.117, which represents a previous support level that could now act as resistance. If the pair manages to break through this level, it could open the door for further upside potential. Target 2, on the other hand, might be set at 1.134, another notable resistance level where price could encounter significant selling pressure. Reaching this level would indicate a more substantial recovery for the EURUSD pair, potentially providing profitable trading opportunities for those anticipating such a move. However, it's important to note that market conditions can change rapidly, and technical indicators are not foolproof. Traders should always employ risk management strategies and consider multiple factors, such as fundamental analysis and market sentiment, when making trading decisions. In conclusion, the EURUSD currency pair currently exhibits oversold conditions on both the weekly and daily timeframes. This suggests that the selling pressure has been excessive, potentially paving the way for a significant rebound in the near future. While target levels of 1.117 and 1.134 can be identified, traders should exercise caution, use risk management techniques, and consider other factors before making trading decisions.
Long
by EIP-EverythingIsPlanned
EurUsd -> Make It Or Break ItHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that EurUsd is currently retesting a quite obvious previous weekly support/resistance area which is now turned support at the $1.087 area. You can also see that weekly moving averages are bullish, EurUsd is also still creating bullish market structure and also retesting the lower support trendline of a rising channel, so I definitely do expect a short term rally towards the upside from here. On the daily timeframe you can see that we are also currently retesting previous daily support from which we could definitely see some rejection towards the upside, we do NOT have bullish confirmation in my opinion yet, so I am now just waiting for a good entry point and then I do expect a retest of the next structure level at the $1.096 level. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
41
EURUSD: downtrend!Technical Overview The EUR/USD has been showing a negative trend since May 5, and Monday's slight improvement has not changed this trend. The immediate resistance level is at 1.0900, which is a horizontal level and the EMA-34 in 4-hour charts. If the Euro manages to go above this level, it could reduce the bearish pressure. However, to change the short bias from bearish to neutral/bullish, it must cross the downtrend line that is currently at 1.0950.
Short
by Jiren-SphynChannels
EUR/USD stuck in consolidation, will news offer direction?EUR/USD has been stuck in a consolidation phase for quite sometime now. No major moves are being observed in EURUSD. However, with the US core retail sales data coming up in an hour, it is likely to see some big impulsive moves in EURUSD. Either way, 1.09 is a critical level. If the price breaks through this level with a big bullish candle and continues to stay above 1.09, then surely we will see more upside towards 1.1050. However, failure to break the 1.0904 level would open the door towards 1.0750 instead.
by YourLazyTrader
7
EURUSD Daily chart analysis; key levels to watch out forEURUSD fell strongly over the past few days which was expected because of the strong resistance at the 1.1085 level. Currently, the price is slowly inching toward the first dynamic support level at 1.0770. Although EURUSD may reach 1.0770, I do not recommend opening any more sell trades at the current price levels. In fact, it would be wise to wait for a pullback and then if bearish price action forms, we can consider selling again.
by YourLazyTrader
16
EURUSD: Entry sell!Fundamental Overview Mario Centeno, a member of the ECB Governing Council, stated on Wednesday that the policy will continue to be strict for a while longer but indicated that interest rates ought to begin to decrease at some point in 2024. According to Bloomberg, some members of the ECB are suggesting that a rate increase may be necessary in September. This situation implies that there will be rate increases in both June and July. Predicting continuation of downtrend
Short
by Sphyn-Trader
3
EURUSD 250pips SHORT - DON'T MISS IT! EURUSD crash coming with the confirmed BULLISH breakout on the DXY index. Now we are looking to play continuation on this pair. #1 ENTRY (Risk Entry, Good Reward) -: We already have a CONFIRMED ENTRY with a good risk however, to take entry, keep all emotions aside and only SHORT when we push back up to the 200EMA on H4. INVALIDATION IF we push back above 800MEA on D1 exit all trades or open a HEDGE. TARGETS IF we got a ENTRY TRIGGER, we are looking at EXIT when price gets close to 200EMA on D1 for a 300pips run. P.S I will post money making trades like this everyday and everything you see on my chart is from the HOOD SUITE INDICATORS, everything you need is right in front on you inside the indicator. (The key zones, Levels for manipulation, visible SL for invalidation, Alert when trade setup is ready). No trend lines or complicated analysis, all you have to do is FOLLOW!
by TheHOODofCRYPTO