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EXY

Euro's Current Trend and a look into near-term volatilityCheck out my previous analysis on DXY Background: As mentioned above in my previous analysis, dxy has tested early 98 area and now seemingly forming a temporary stop until Wednesday data come out. Meanwhile, I'd like to take a quick look into the Euro pair see if we could find any trading opportunity. It seems to be clear at this point that dollar isn't in favor of particular direction. While we are likely to see some trading opportunities in tight range, it'd be hard to call for a new trend at this point. What us traders must be aware however, CPI or retail sales data will have intuitive market reaction, as dxy's focus right now is largely on monetary cycle rather than the event itself. For those who are interested in Fed's footsteps, we are seeing now some major divide within FED for rate decision. If indicators come out to be bad for U.S., (it will be bad for EU, trust me.) we are likely to see start of new bear trend for DXY , as Fed may start another round of QE . Technicals: Euro is currently in descending channel as shown in the chart. Therefore our trading plan will be short EU but with great caution. 1.09895 area would be the key level for EU and it makes more sense to close trades around this level. Probably by the time we reach this area, the price will likely to consolidate until major event happens. I would not personally buy into that area just yet. Action Plan: Short Euro till 1.09895 at any minor bounce.
Short
by UnknownUnicorn216273
EUR Index Indicates Continued WeaknessThis chart shows a EUR index equally weighted across other major currencies. I recently posted a couple ideas that suggest EUR was setting up short opportunities. This chart shows a textbook short squeeze towards support (Lower highs, pushing price towards support) , which is also the 0.5 fib level from the 2017 rally. While EUR has seen a significant decline vs. USD, it has retained a lot of strength vs. other currencies. While there are signs that EUR looks vulnerable to a reversal, a break below this level would offer confirmation to the likelihood we will see further declines across EUR pairs. I will post a view of the long term chart in the comments.
Short
by cccpKGB1
My idea about EXYIf we watch the monthly chart we can see Euro currency index is in a strong downtrend since the Great Recession. The price now arrived to a support zone which is the 100. In my opinion it's a psychological support/resistance level, cause 100 is a whole number. At this point the price can go upward to the downtrend line, which location is at Fibonacci's 23,6% support/resistance. On the monthly chart we can see when the price arrived to a support zone and start going upward, its gone on the same formation(I marked on the charts). If this formation will repeats, the price will going up to Fibonacci's 38.2% resistance and fall down to 23,6%, then going up to the monthly downtrend line.
TVC:EXYLong
by LszlRakonczai
EUR WEAKNESS TO COME (EXY monthly view)Hi All, We have been trading the EURUSD all year with a strong bias towards the downside. Looking at the monthly "EXY" Euro currency index we can clearly see a strong momentum building to the downside (falling wedge cycle). Observing the latest economic climate highlights the worsening slump within the EU bloc. With the ongoing Brexit and Germany looking towards a recession and with key EU zones weakening we can only see further weakness in the EU looming.
TVC:EXYShort
by ForexTradingRoom