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Eurusdoutlook

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
The EURUSD Rollercoaster: Buckle Up, Bears and BullsHey there, currency cowboys and cowgirls! Grab your Stetsons and get ready for a rootin', tootin' ride in the forex rodeo, because it's FX:EURUSD week! We're diving into the labyrinth of the most traded currency pair on the planet, where the Eagles (USD) and the Sphinxes (EUR) battle it out in a mythical arena of numbers, trends, and Fibonacci spirals. It's not just a currency pair; it's a tale of two continents, and boy, do we have a story for you this week. Technical Tango: Who's Leading? Now, y'all know that trends are like a Texas two-step; you gotta know when to lead and when to follow. And right now, the EURUSD has been do-si-do-ing in a downtrend since the break of dawn—okay, since the beginning of the year—but you get the point. Last week, the pair two-stepped right below the critical support line of 1.0832. For those of you just tuning in, support levels are like the floor of a dance hall. Once you fall through one, you're tumbling down to the next. Our next dance floor—or should I say support level—is at 1.0609, painted by the brushstrokes of the 38.2% Fibonacci retracement of the recent rally from 0.9534 to 1.1274. A mouthful, I know, but stay with me, we're about to get to the good stuff. The RSI Rodeo Clown Now, every rodeo needs a clown to keep things from getting too rough. In the EURUSD circus, that role is played by the Relative Strength Index (RSI). Now, before you think it's just a hootin', tootin' sideshow, remember: the RSI is a powerful tool that can help you read the room—or market, in this case. It's currently in oversold territory, which could mean the bears are taking a breather and pawing through their salmon reserves. So, a rebound may be in sight. But don't start doing cartwheels yet. The overall trend is still a bearish ballad, and seeing the pair plummet below 1.0609 would be as unsurprising as a country song about a truck. Fundamentally Yours Let's pivot and talk about something even spicier—the fundamentals! The band isn't just playing a sad country tune for no reason. It turns out, the European Central Bank (ECB) raised interest rates in July. Normally, this would have the euro dancing like a cat on a hot tin roof. But hold your horses: the Federal Reserve is also in the race and planning on raising rates, but even more aggressively. The result? A widening yield gap that makes the U.S. dollar look like the belle of the ball. And oh, let's not forget the curveball that life loves to throw—war and rising costs. Europe is stuck in a tug-of-war with ongoing unrest in Ukraine and energy prices soaring faster than a rocket at a Fourth of July party. These headwinds could keep the euro grounded and make the ECB think twice before upping those rates. Keep Those Peepers Peeled Now, I know we've been painting a bearish barn, but it's not all gloom and doom. Watch the RSI like a hawk circling a field mouse; a sustained move above 50 could be your canary in the coal mine for a rebound. Also, keep your ear to the ground for any upbeat news about the European economy or the ECB. In this rollercoaster of a market, any breaking news can turn into a market mover faster than you can say "Yeehaw!" The Bottom Line So there you have it, folks. The EURUSD is living out its own spaghetti western, complete with villains, heroes, and an uncertain ending. The technical charts and the fundamental climate are both playing the blues for the euro. For this week, expect the pair to keep testing the limits of the 1.0609 support level. But remember, the market is as predictable as a cat at a dog show. Keep your eyes on the indicators and your finger on the trigger, ready to adapt your strategies at a moment's notice. It's going to be a wild week, so tighten your saddle, because we're in for one heck of a ride! Yeehaw, traders! 🤠 *Note: This article is for informational and entertainment purposes and should not be considered financial advice. Always do your own research and consult with financial professionals before making any investment decisions.*
Short
by TFLOfficial
EURUSD Technical Analysis and Trade IdeaRegarding the EURUSD, it's currently experiencing a downtrend, accompanied by a noteworthy retracement into crucial resistance levels. Our video comprehensively addresses essential components of technical analysis such as the prevailing trend, market structure, price action, price gaps, and other pertinent technical aspects. I'd like to emphasize that all details are thoroughly elucidated within the video, and it's important to note that this content should not be interpreted as financial advice.
Short
by fxtraderanthony
1
EUR/USD's 30-Minute Support and ResistanceIn the ever-evolving landscape of forex trading, precision holds the key to success. Every level, and every movement carries significance. Let's delve into the technical intricacies shaping the EUR/USD pair's journey within the 30-minute timeframe. Stepping on a Sturdy Foundation: Support at 1.07654 Within these critical minutes, EUR/USD finds a firm footing with the support level at 1.07654. This point serves as the bedrock, potentially giving the pair a platform for rebounds and potential recoveries. Navigating Obstacles: Resistance Points Explored However, the path is far from smooth. The pair faces a series of resistance points, each introducing a layer of challenge: First Hurdle - Resistance 1 at 1.08440: This marks the initial test for EUR/USD's upward momentum. If the pair can surmount this resistance, it could signify a shift in sentiment, possibly paving the way for extended gains. Stepping Up - Resistance 2 at 1.08775: As the pair advances, it encounters a more substantial barrier. This resistance level demands a more determined effort to breach, testing the depth of the bullish sentiment. Strategic Insights: Mapping the Journey Ahead For traders and observers, the interactions between EUR/USD and these support and resistance levels are a treasure trove of insights. Every movement, every breakthrough or pullback, holds valuable clues about the market sentiment at play. The solid support at 1.07654 offers a crucial layer of protection, providing potential opportunities for rebounds. Nonetheless, the resistance points at 1.08440 and 1.08775 are formidable challenges that the pair must overcome for sustained upward movement. As the clock ticks within this 30-minute window, the movements of the EUR/USD pair unfold like a captivating drama. The interplay between support and resistance, between buyer and seller, forms a dynamic narrative that traders keenly follow to glean insights into the short-term direction of this vibrant currency pair.
by enclavefx_Analaysis
EUR/USD about to go Bullish now?EUR/USD has been in a prolonged state of downtrend for more than 40 days now. After reversing from 1.1270, the price has dropped nearly 500 pips. At present, we can see that EUR/USD is at the bottom of an ascending price channel as shown in my chart. If you look closely, you will notice that even in the previous two occasions, EUR/USD has reversed after hitting the lower trend line of the price channel. So, if the area at 1.0750-1.08 region continues to hold, we can see a Bullish reversal in EUR/USD.
Long
by MarcellusLUX
8
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
EURUSD Technical Analysis and Trade IdeaThe EURUSD pair has reached a significant daily support zone. It's evident that the price has exceeded its usual range, and there's a potential for it to pull back towards the support levels. Within the video, we delve into the examination of the prevailing trend, price movements, market patterns, and other critical components of technical analysis. As we near the conclusion of the video, we explore a prospective trading opportunity, adhering to our customary practice of thoroughly explaining all covered aspects. It's important to emphasize that the content of the video should not be construed as financial advice. Remember, trading involves risks, so it's crucial to effectively manage your risk exposure.
by fxtraderanthony
2
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
EURUSD: What happens next if the news is still intriguing?The EUR/USD pair hovers around 1.0900 ahead of Wall Street’s close, holding on to modest intraday gains. The US Dollar failed to attract speculative interest despite a generally sour mood. Asian stocks edged lower as Chinese real estate sector woes continue, while the local central bank was unable to impress. The People’s Bank of China (PBoC) cut the one-year Loan Primer Rate by 10 basis points (bps) to 3.45% on Monday, as expected, following similar measures last week. The Yuan fell with the news, as speculative interest was waiting for a more aggressive measure to support the local currency. Support levels: 1.0860 1.0825 1.0790 Resistance levels: 1.0930 1.0960 1.1005
Short
by Sphyn-Trader
2
Engulfing candles = ⬆️ Probabilities of MomentumZooming out and observing EU price behavior so far thus year, we discover that each time the Exchange rate pulls back down, it begins to turn back to the upside at about 500 Pips 0:0 Monthly timeframe 2:14 Weekly timeframe 3:52 Daily timeframe 8:50 4hr timeframe 13:35 1hr timeframe Hey Everyone, a longer analysis today. Omg it took me like nearly 2 hours to upload this one today after having issues with uploading due to internet connection. Hope you enjoy have a good trading day. In the previous publishing, I was anticipating EU to rise from 1.088 back to 1.09 before contiuing the downward trend. Why 1.09 you may ask? Well 1.09 is the weekly support level created in June/July . The weekly candle last week failed to respect this 1.09 weekly support level. In the market, Support level's become Resistance level's and vice versa. So knowing this, I was able to captilize on the downside push today and was not surprised to see it occur. Observing the daily candle today, we can see that the Daily candle closed below our daily support level at 1.0853. Similarly, we now may anticpate this previous support level to now faciliate a selloff and continuation to the downside. Because I enjoy following the trend. You can be a contrarian, and that is fitting to some personalities. The Daily candle signaled quite a strong selloff after it hit the previous daily candle highs, grabbed liquidity , then teared lower & breaking hearts finishing the day down .45% and closing below all candles to the left hand side. 1.07452 or 1.07 asking too much by end of August Eurusd?
Short
by ShrewdCatfx
EurUsd could drop under important supportSince the recent 1.13 top, EurUsd started to fall, with rallies clearly sold. Also, the mid of August is marked by a break under the ascending trend line that kept the price elevated for almost a year. At this moment the pair is trading exactly at the horizontal support and a break also under this support is probable. In such an instance EurUsd could drop to the next important support that lies 200 pips under. I'm looking to sell rallies for EurUsd and an ideal price could be 1.0950 with negation above 1.1150 for a 1:3 risk: reward trade.
Short
by Mihai_Iacob
15
🔔 Bulls can regain 1.09 before Bear continuation Bull market structure has flipped bullish early in the week. 0:0 Monthly Timeframe 1:42 Weekly timeframe 3:22 Daily timeframe 5:04 4hr timeframe 7:30 Bearish Channel from last week 9:07 1hr timeframe The Market can do anything and it is always right. With that said, it's still okay to create a forecast. Looking at the way price respected 1.0853 Daily support level during Friday's NY session gives confidence for a relief rally. Also Friday's daily range was small compared to the rest of the week & it closed as a Doji. These are confluences and I'm using this critical thinking to arrive at possible scenario. If price fails to make it past 1.0883 1Hr resistance zone then we will likely retreat towards 1.0869 where there are (2) 1hr support zones. Otherwise I'm anticipating an early in the week push towards 1.089 4hr resistance zone and 1.09 which was weekly support level. 1.09 may now act as a weekly resistance zone since the weekly candle last week just closed below it. it may facilitate a selloff with this new week down to our next weekly support level 1.07
Long
by ShrewdCatfx
EURUSD 30M Support and Resistance LevelsThe EUR/USD currency pair, a popular representation of the Euro against the US Dollar, is exhibiting notable price dynamics on the 30-minute chart. Let's delve into the crucial support and resistance levels that are currently shaping the market sentiment. Support Level: Support 1 at 1.08440: The price action has shown significant adherence to the support level at 1.08440. This level is acting as a safety net against downward movements, with buyers consistently entering the market around this point. Traders and analysts will be keenly observing the behavior of the price near this level, as a breach might signal increased selling pressure. Resistance Levels: Resistance 1 at 1.09354: The 1.09354 resistance level has served as a key barrier for upward movements. The price has encountered difficulty surpassing this level, suggesting a presence of selling interest. Traders will be closely monitoring any sustained price action above this level, as it could indicate a shift towards a more bullish sentiment. Resistance 2 at 1.09609: Moving higher, the price faces the 1.09609 resistance level. A convincing break above this mark could pave the way for further bullish momentum, potentially attracting more buyers to the market. In the current market landscape, understanding these pivotal levels is crucial for traders and investors. The support at 1.08440 acts as a safety net against potential downward pressures, while resistance at 1.09354 and 1.09609 represents significant obstacles for upward movements. Observing how the price reacts around these levels provides valuable insights into short-term price trends and potential breakout scenarios. In summary, the EUR/USD 30-minute chart demonstrates the impact of these support and resistance levels on the market's behavior. Traders should remain attentive to shifts in price action around these levels, as they offer valuable guidance in assessing potential trading opportunities and market sentiment.
by enclavefx_Analaysis