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Eurusdupdate

EURUSD: bullish or bearish? Check today's analysisThe updated data showed that in August, annual inflation increased by 5.2%, down from the previous measurement of 5.3%. Core CPI, excluding food and energy, increased by 0.3% monthly and 5.3% annually. This downward trend was taken positively by market participants, particularly following the European Central Bank's (ECB) decision to raise the key interest rate to 4.50%. On the other hand, recent US macroeconomic data has been mixed. Housing Starts in August adjusted from 1.452 million to 1.283 million, less than expected, but Building Permits increased from 1.443 million to 1.543 million, outperforming estimates. Later today, investors will be watching the outcome of the US Federal Reserve's monetary policy meeting, where the interest rate is expected to remain at 5+%. Comments about potential monetary policy tightening in November and December could significantly influence the markets. Resistance levels: 1.0700, 1.0730, 1.0770 Support levels: 1.0600, 1.0630, 1.0600
Short
by MsProTrading
1
A Bearish squeeze 🐻 unfolding or too hopeful? ❌EurUsd Buyers in La la land or are we onto something here? 0:0 Monthly timeframe 2:10 Weekly tiemframe 5:26 daily timeframe 7:34 4hr timeframe 10:25 Let's talk interest rates 12:30 1hr timeframe At times the market has coincided it's bottom or top with a News release. Today we have the September Interest Rates release as our fundamental catalyst for a potential bearish squeeze. We have 9 Bearish candles in a row. I was wrong last week about EurUsd longs so maybe I'm at fault here and this scenario is a long shot, no pun intended. We saw Profit taking on Fridaylast week and the market inched to the upside. On Monday we saw a clean range followed by a breakout to the upside on the intra-day timeframes during NY session. Today we observed a breakout to the upside once again with London Session. When NY session came around , price said " Not Yet" as we have Interest rates coming up and it was not the right time. We just ranged today prior to interest rates as one could expect. What I'm looking for is a move prior to news or a wick with news between 1.064 daily support level and 1.066 weekly support level preceding an increase back to 1.075 Daily resistance Zoneish. Not anticipating a rate hike or a rate cut as things will likely remain unchanged as we've already observed the fastest rate hike ever.
Long
by ShrewdCatfx
2
EURUSD possible buy and sell zone!!Currency Pair : EURUSD Possible direction : Bullish/Bearish With Main Refinancing Rate and Monetary Policy Statement coming up, there is very high chance for EURUSD to fill the FVG that has left daily 20EMA as the pricing in 4h moving with a bullish channel. Todays price still above the previous daily low, means, very high probability bulls will try to keep the higher low maintained. As 4h bullish channel is still on, we could see a break of the channel to the upside, which could lean the price to the FVG and breaking the high to the liquidity zone and from that place, we could see sell of to the monthly support zone. The possible entry would be ideal on the daily support a buy after rejection and a sell upon liqudity grab from the FVG. Please leave a like if you enjoy this analysis and comment below what do you think, which way EURUSD is heading with the news?
Long
by ForexWizard01
1
EURUSD: What to know in markets on Thursday!- EUR/USD is holding on to recovery gains near 1.0750 as the US Dollar (USD) remains behind according to mixed US Consumer Price Index (CPI) data. - The annual measure of US inflation rose 3.7% in August, compared with an expected 3.6% increase. CPI rose 0.6% in August, the biggest monthly increase of 2023 and in line with market estimates. Core CPI rose 0.3% and 4.3%, respectively, compared with estimates of 0.2% and 4.3%. - US S&P 500 futures boost market optimism, as US data underpins Federal Reserve (Fed) pause bets. - The yield on the benchmark 10-year US Treasury note fell to 3.21%. - On Tuesday, Germany's ZEW Economic Sentiment improved to -11.4 in September. However, the index measuring current conditions hit a three-year low at -79.4. "Financial market experts are even more pessimistic about the current economic situation in Germany than in August 2023," the ZEW Institute said. - The ECB event will be decisive for the short-term direction of the EUR/USD pair, as the focus turns to the Fed's policy announcements next week.
Long
by Sphyn-Trader
4
EURUSD: ECB detects leaked reportEUR/USD retreated moderately on Tuesday. It jumped to 1.0769, its highest in a week during the Asian session, but then reversed course, holding above 1.0700. Markets await US consumer inflation data and the European Central Bank meeting. Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest since August 2020) down from -71.3, while the Expected index reached -11.4, above the -15.0 forecast. The report provides more signals about a potential recession in Germany and the Eurozone. These factors weigh on expectations of an interest rate hike by the European Central Bank.
Short
by Sphyn-Trader
6
Anticipating the next Move 🚤 EurusdAnticipate the next move beginning with a Top-Down Analysis followed by looking through the lens of price action. 0:0 Monthly timeframe 1:10 Weekly timeframe 2:35 Daily timeframe 6:36 4hr timeframe 8:30 1hr timeframe 11:20 upcoming news We have alot of rejections at 1.07 Weekly support level beginning from last tuesday. This weekly support level is also a Monthly support level. The Daily timeframe flipped to bullish market strucutre on Monday and still maintains that stance. Though, one could argue that we are simply ranging now. We have higher lows and Higher highs on the 1hr/4hr timeframes. CPI inflation data today pulled price back down to retest the weekly support level once more at 1.07. To be exact it touched into 1.071 but I still count that. Yesterday and especially today price respected what was our previous resistance zone 1.0727 but has now turned into a daily support zone. CPI increased for the second consecutive month and we are moving away from the Fed's target of 2%. That is good for the USD and the higher timeframe momentum favors USD. Given this, we are at a key level on the monthly and weekly timeframes. Volatility has decreased ever since we tapped into the key level's. Also, these fundamental releases act as a short term reversal for the market.. another confluence. Really in trading it's about combining multiple confluences to increase the probabilities for a trade idea.
Long
by ShrewdCatfx
Seen this Story before ... 🔖Following price action versus what you think price action will do are two completely different concepts. 0:0 Monthy timeframe 0;47 Weekly timeframe 1:52 Daily timeframe 3:52 4hr timeframe 5:46 1hr timeframe 6;40 Bias for upcoming Understanding these concepts to their core has cost me. I have benefited though from reflecting on the outcomes of these two concepts. Price action will often times clue you on what will happen next. To listen to the price will take time and because you will be inclined to impose your beliefs on the market and invest your energy into solving, well, the wrong problems. Observing where candles close and understanding the nature of volume surrounding 1hr and 4hr candle closures is very important. These concepts make up the core of intra-day trading in the forex market. With that said, I am anticipating a bit of a retrace towards our previous daily resistance zone that may facilitate more longs. Our previous daily resistance was 1.0726 and it can now be characterized as Daily support since market structure flipped on the daily timeframe to bullish.
Long
by ShrewdCatfx
2
EURUSD: Investors wait for CPIThe EUR/USD currency pair experienced a slight recovery after reaching a new low below 1.0700 on Thursday. Although the bearish bias of the pair remains, there is potential for support due to profit-taking and an improved risk sentiment leading up to the weekend. On Thursday, the US Dollar continued to strengthen against its counterparts following positive weekly data. The number of initial applications for unemployment benefits decreased to 216,000 in the week ending September 2 from 229,000. Additionally, Unit Labor Costs for the second quarter were revised higher from 1.6% to +2.2% in the Bureau of Labor Statistics' initial estimate.
Short
by Sphyn-Trader
9
When the Price Action speaks, Listen! 🔉😼Price reacted off of 1.07 Weekly support level for 2 days before punching through it with New York session Open today boosted by positive USD unemployment data. 0:0 Monthly timeframe 2:21 Weekly timeframe 5:29 Daily timeframe 9:25 4hr timeframe 11:06 1hr timeframe Price printed a Daily bearish candle today and tapped into Extreme Daily Lows at 1.0688 Daily support zone. It is extreme daily support zone because price bounced 590 Pips off this area last time price was here. The Daily bearish candle today closed above the Extreme Daily lows. Yes the weekly candle is bearish at the moment, but I would not be surprised to see the Weekly candle pullback, and create a larger bottom wick to end the week. Calling the low has a good Risk/Reward and some people are good at spotting mean reversion trades. Be flexible because if the market continues to trend lower, we want to capitalize on that momentum. Interestingly enough, I'm looking forward to this mean reversion trade because of the News catalyst Unemployment Data. News releases can also provide the catalyst for a short term bottom and top in the markets. A good example of this was on June 27th earlier this year. After the news, a short term top was formed and price pulled back 100 pips. Anticipating something similar here.
Long
by ShrewdCatfx
2
Eurusd New Month .. New Lows to 1.07? 🛎️Traders! (≖_≖ ) we haven't seen a steady trend like this with 7 weeks of the same candles since June 2020. 0:0 Monthly timeframe 1:35 Weekly timeframe 5:13 Daily timeframe 7:25 4hr timeframe 9:46 1hr timeframe 11:30 Bias Hello traders. Yes, we did just create a daily support today at 1.0773. However, this support was created during a Bank Holiday and if you've hung around the block long enough in forex you know that Bank Holiday's have low volume and we should acknowledge them accordingly. If we do end up curling back to the upside here on Eurusd we do have 2 clean ranges on the 1hr and 4hr timeframes so long as we get above 1.08. With that said, the market is not random and we must act accordingly as we may coninue to descend into the depths below as we have been for nearly 2 months now. It is important to be flexible at times this . Bulls and Bear got thrown around last week with a early in the week Bullside push followed by a continuation of higher timeframe momentum to end the week, that also coincided with decent NFP data that was released better than expected. It is possible that we will soon touch into the next daily support level 1.0744. Momentum is still prevalent and so we must allot to it our due diligence.
Short
by ShrewdCatfx
Messy Monthly Candle close😾🐱Just look at this ruthless pullback breaking hearts during this monthly candle close. 0:0 Monthly Timeframe and previous Long Call 2:14 Weekly timeframe 3:34 Daily timeframe 7:10 4hr timeframe 9:50 1Hr timeframe 12:01 Fundamentals If you've been around long enough, you would understand that the monthly candle close in forex can be tricky. Price pulled up during this previous daily candle close and that was probably the most straightforward move in the market that've I've seen in months. The 1.086 move towards 1.093 was very easy to anticpate. That was like the 1 trade a month sort of trade. Tbh I don't see a whole lot occuring prior to NFP data during friday NY session. We've already moved up a decent amount on the week. Tbh we've already hit my Weekly bullish targets being 1.093 and 1.09. With NFP, ohh mann, what a wild close to the week if we retrace towards 1.10 with a continued sentiment , Risk on , Sell USD
by ShrewdCatfx
Countertrend push early in Week 🦖 We can observe a countertrend push early in the week here 0:0 Monthly timeframe and upcoming economic data this week 3:28 Weekly timeframe 4:48 Daily timeframe 6:40 4hr timeframe 9:05 1hr timeframe Will this countertrend push to the upside maintain despite obvious bearish momentum stretching from the Monthly timeframe? We'll see how far price will retrace here as my thoughts are a touch into the most recent daily resistance zone at 1.0864. Today during NY and London sessions we ranged hard which is expected for Monday. It Built up energy as price decided to increase through the transition of the new daily candle. Given this bullish daily candle close on monday, I'm anticipating a further retracement and pullback on the higher timeframes to 1.086 to 1.087. Key zones are 1.08225 1hr zone and 1.0806 4hr support zone. We also may see price touch 1.0795. I am looking for a Weekly wick fill this week as we have momentum on the higher timeframes. Housing data, consumer confidence and job openings will play bring some volatility during NY and So I will be looking out for that.
Long
by ShrewdCatfx
Eurusd Momentum 🐻-> Probabilities Suggest Flexibility over the Rigid Ego wins. Trading with the trend Eurusd? 0:0 Monthly timeframe 2:35 Weekly timeframe 4:50 Daily timeframe 6:30 4hr timeframe 7:36 1Hr timeframe Hey everyone. A new week and a new opportunity to master our emotions and skills in the markets. Experience suggests to me that we will sell a continuation of the prevailing bearish trend. However, and similar to last week we may see a 30 pips - 70 pips pullback prior to a push towards Daily support level 1.07455 and Weekly support level 1.07. Those are my weekly targets for Eurusd. If Eurusd decides it's a week to pullback then we may observe an increase back towards Daily resistance level at 1.0895. Otherwise, we sit in a range right now between 4hr support 1.07941 and 4hr resistance 1.08161. Be adaptable and flexible with regard to a change in market conditions. If we do decide to do a continuation to the support level's mentioned above, be ready to hold on to some runners to maximize profits. No Red folders news to begin the week here on monday.
Short
by ShrewdCatfx
Inherent risks in selling the Low/Psychology Supersedes🔨 Not already positioned ? then careful about sharp liquidity grabs 0:0 Monthly timeframe 1:54 Weekly timeframe 3:26 Daily timeframe 6:02 4hr timeframe 9:40 1hr timeframe I've found that often times in the market the best thing to do is often the hardest thing to. Going against human nature is not an easy task. It take time months if not years of consistent conditioning to master this concept. Thinking about where other market participants are positoned can contribute to your edge in the market. With all this said, we currently have clean traffic on the Daily and 4hr down to 1.0747 Daily support zone. I've been talking about this price point for weeks (go back on my publishings) ever since the July monthly candle failed to close above 1.1025 key level. This bias was confirmed when Inflation data failed to be the catalyst to take us above 1.1025. I wouldn't be surprised to see a harsh correction with London prior to a continuation of towards 1.0747 which we will tap into today or next week probabilities suggest.
Short
by ShrewdCatfx
4
Time is Ticking ⏳-> Market Structure & Pin Bar Daily Candle What are your thoughts on the Daily Pin Bar that closed bullish? 0:0 Monthly timeframe 2:02 weekly timeframe 3:22 Daily timeframe 8:23 4hr timeframe 11:17 1Hr timeframe As Eurusd Swept past the Monthly lows by 30 pips today, I 😁 because I called it out on the channel. Manufacturing data acted as a catalyst to continue the trend bearish. Was it luck when you are right? Idk but trading with the trend is often the Shrewd thing to do. The majority of participants whom share their thoughts on trading view here were heavily buy biased. This is precisely why the market moved down so swiftly with manufacturing data as many participants were liquidated in a short period of time as the pyramiding concept took over and there was an avalanche of liquidations. An important part to running a successful small business as a trader begins with having a mind of your own. Doing your own analysis and crafting your own view of market activity. With this said, I'm biased towards the long side as we are towards the lows of structure on the Daily chart and structure. I could be wrong and is why I always stay very flexible. It's not about being right, it's about making money.
Long
by ShrewdCatfx