EURUSD is showing signs of a rebound from the higher low area of the uptrend line in the 4-hour timeframe chart. 📉 Expectations: Anticipate the pair to re-test key support levels as highlighted in the attached chart. 📊 Trading Strategy: This trade is based on a combination of technical analysis and candlestick patterns. It's a long-term position, so ensure...
EURUSD - Favorable Conditions for a Long Position The EURUSD pair is currently showing promise for a potential long trade, following a breakout from its previous trading range. The market sentiment has turned bullish. Meanwhile, the Dow Jones is displaying a bearish trend, coinciding with my area of interest. It's essential to consider the ongoing geopolitical...
Is it possible to see the Dollar depreciate against the Euro in the upcoming future, as a wannabe economist. I propose a few objective data points that may or may not support this thesis. I am interested in gaining feedback to further my ability to apply what I am self-teaching myself.
The result of today's strong US ISM non-manufacturing data: ISM Non-Manufacturing PMI (Aug) Actual: 56.9 Forcast: 55.1 Previous: 56.7 pushed the DXY higher today as data showed a bullish sentiment overall from an actual and previous data standpoint. Banks and investors still show confidence in buying the US dollar as fundamentally Powell still wants to raise...
EURUSD D1 -Strong Down trend -Creating H&S pattern -Wait for Right shoulder -Wait for candle confirmation =Sell Signal
We have a descending channel on the daily time frame, with a break below hourly support at 1.09950 and lackluster Euro PMI to give us a short bias on this pair.