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Eurusdprediction

EURUSD: Bullish consolidation? (Part II)In the short term we can say that the FX:EURUSD pair is bullish above 1.0930 (bullish scenario invalidation) on intraday chart. That said, from a technical perspective, we have already reached our previous Target around 1.1040 (see chart/idea below), and from this area a corrective structure should be logical with a potential ABC Pattern. If this idea is correct, the price should return below wave 4 (1.0994) before triggering a new rally. If we look at the 1H chart we see that the Price Action moves within a bullish channel, so the support area could be around 1,098/1,072. In conclusion, if the trend remains bullish, we expect a new consolidation at least around 1.1090 area in the short term. 1.1000-1.1040 TARGET (Click on Chart for details) C.O.T. Analysis (Click on Chart for details) What's you opinion? ...are you bullish or bearish on this pair? Trade with care. Like | Share | Comment
Long
by TheAnonymousBanker
14
EURUSD Technical analysis and Trade IdeaIn this video analysis, we focus on dissecting the movements of EURUSD. We can see that the EU has traded into a significant resistance level. Below the current price level, we pinpoint an imbalance key support zones. Throughout the presentation, we delve into comprehensive trend analysis, intricacies of price action, the underlying market structure, while also briefly outlining a prospective trade opportunity. It is important to note that this is not financial advice and is meant for educational purposes only.
Long
by fxtraderanthony
💡 EURUSD: Forecast December 26EURUSD has breached the 1.10 level, but we cannot yet consider this a breakout because selling pressure has also reappeared, shown by a notable Doji pattern on the daily frame. You temporarily stop trading, pay attention to the tops and bottoms of this model. If it breaks to the bottom, it will likely create a peak in the short term, and the reversal traders can consider returning. In case the price breaks the top of the pattern, meaning it has been invalidated and confirmed the breakout, then trend followers can consider entering an order and targeting the upper border of the rising price channel.
Short
by Stone_Haven
4
EURUSD → Second Rejection at 1.10! Short to 1.06? Let's Answer.EURUSD was rejected twice at the Resistance Zone and ended last week with a bear bar closing on its low! Should we short here? How do we trade this? 🤔 Short answer (pun intended!), yes! My analysis from last week showed the price action around 1.078 which is right on the EMA support ribbons. Too far away from resistance to short, too far away from the Support Zone to long. The EMA ribbons themselves are support as we now can see, the price action has bounced off of them back to the Resistance Zone. Now that we've seen a second rejection, that's our confirmation to short. The first was our signal, second our confirmation and because the bar closed on its low, we have optimal probability to enter a short position here. Target 1:2 Risk/Reward with a protective stop just above the double top at 1.10, then target the 1.06 area to take profits. Look for a bull response at the 1.06 area, a potential long opportunity using the same trade management style as this one. Refer to my analysis from last week for that setup: Additional Note: We're trading the Daily chart here, this trading range came after a bull channel which in isolation, should give us a long bias while we're between 1.06 and 1.10. However, zooming out to the Weekly chart shows us we're rejecting price off of the 200EMA. It's reasonable to have a short-term bull bias in this range, but caution should be used in either direction because of that Weekly 200EMA. 💡 Trade Ideas 💡 Short Entry: 1.089 🟥 Stop Loss: $0.955 ✅ Take Profit: 1.057 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Two Rejections at Resistance Zone, Bias to Short. 2. Second Rejection Bear Bar Closing on its Low. Run Short to 1.06 Area. 3. 1:2 Risk/Reward Ratio, Watch Out for Support at EMA Ribbons. 4. RSI at 55.00 and above Moving Average, Needs to Fall Below. 5. Also Reasonable to Scalp 1:1 and Move Stop Up to Entry. 💰 Trading Tip 💰 Probability of profit increases dramatically when you wait for what is called "confirmation" on the chart. This comes after a signal bar closes, indicating the next moves on the chart. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
EURUSD Longs from 1.09550 or 1.09200I anticipate EURUSD to wait for a decline in selling pressure and for the price to enter a demand zone, providing an opportunity for an upward buy. Currently, my focus lies on the two 5-hour demand zones that triggered the recent CHOCH. This bias is more favorable as it aligns with the existing bullish trend in the EURUSD market. Despite my overall bearish outlook on this market, the ongoing bullish rallies remain robust. Furthermore, I anticipate further upside in the market to eventually reach a more premium supply zone. Confluence for EURUSD Buys are as follows: - Lots of liquidity left above in the form or trend lines and asian highs. - Two demand zones on the 5hr time frame that has caused a CHOCH to the upside. - This idea aligns with the temporary bullish trend that EURUSD has generated. - Selling pressure is slowly getting exhausted and is pending an accumulation. - For price to continue going higher and create a new leg it must react off a near demand. P.S. The price has responded to a 50-minute supply zone, initiating bearish momentum. Now, I am anticipating the price to descend and undergo accumulation within the specified zones I have identified. Comment your thoughts below and let me know what you guys think of EURUSD's current price
Long
by Hassan_fx
7 Dimension analysis for EURUSD🕛 TOPDOWN - Bearish Momentum in a Multi-Month Downtrend Overview: The monthly and weekly analyses indicate a multi-month downtrend with the initiation of a current impulsive bearish move. The focus is on the daily timeframe for a detailed perspective. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bearish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Bearish impulsive move in progress, marked by a proper high. 🟢 Inducement: Completed. 🟢 Pull Back 1st: Deep pullback with a reversal and bearish momentum. 🟢 Internal Structure: Choch (Contraction) observed. Ext OB mitigated, indicating a potential reversal. 🟢 Resistance/Supply/Distribution/Premier: Multiple indicators, including trendlines, suggest further downward movement. 2️⃣ Pattern 🟢 CHART PATTERNS Raising Wedge breakout signals bearish continuation. 🟢 CANDLE PATTERNS ey Considerations: Record session count with a Change in Guard (engulfing) candle, a strong reversal sign. Momentum signals, including strict engulfing and a last bullish FOMO candle. 3️⃣ Volume: Pivot points of fixed range volume show volatile reversal signals. Average volume during correction move reinforces the bearish bias. 4️⃣ Momentum RSI: 🟢 Momentum State: Sideways zone. 🟢 Range Shift: From bullish to sideways with a loud move. 🟢 Loud Moves: Bearish loud move observed. 🟢 Overbought/Oversold Rejections: Count of 3. 5️⃣ Volatility Bollinger Bands: 🟢 Middle band provides support, but momentum suggests potential breakage. 🟢 Formation of a W pattern at the top of the move. 6️⃣ Strength: USD is stronger than EUR, adding to the bearish bias. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bearish ☑️ Current Move: Impulsive ✔ Support/Resistance Base: Supply area and extreme Order Block. ☑️ Candles Behavior: RSC, Momentum - both patterns are bearish. ☑️ Trend Line Breakout: Confirmed. ☑️ Final Comments: Sell right now. 💡 Decision: SELL. 🚀 Entry: 1.08450 ✋ Stop Loss: 1.1030 🎯 Take Profit: 1.0143 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:3.75 🕛 Expected Duration: 30 days SUMMARY: The analysis strongly supports a bearish momentum, aligning with the ongoing multi-month downtrend. Key indicators such as candle patterns, volume considerations, and momentum signals reinforce the sell decision. The strategy involves clear risk management and exit criteria.
Short
by Optimum369
3
EUR/USD Holds Steady Above 1.1000 Amidst US GDP Data and..EUR/USD Holds Steady Above 1.1000 Amidst US GDP Data and Upcoming Core PCE Report The EUR/USD pair maintains its positive stance, firmly holding ground above the psychological mark of 1.1000 as it reaches its highest level in four months during the early Asian trading hours on Friday. The pair's trajectory aligns with our previous forecast, where the price successfully reached the initial take profit at 1.10100. Key Market Movements: EUR/USD is currently trading around 1.1008, marking a modest 0.05% gain for the day. The pair continues to follow a bullish uptrend, supported by positive momentum and favorable technical signals. US GDP Growth Data: The US GDP growth number for Q3 expanded by 4.9%, slightly below the market's estimation of 5.2%. This data influenced the market dynamics but did not deter the EUR/USD's upward trajectory. Upcoming Focus on US Core PCE Report: Investors are eagerly anticipating the release of November’s US Core Personal Consumption Expenditure Price Index (Core PCE) on Friday. Projections suggest a 0.2% month-on-month (MoM) rise and a 3.3% year-on-year (YoY) increase. This data is expected to impact the pair's movements as traders assess the inflationary landscape. ECB Statements and Market Sentiment: European Central Bank (ECB) Vice President Luis de Guindos emphasized that it is premature for monetary policy to ease, expressing confidence in avoiding a technical recession in the Eurozone. ECB Governing Council member Martins Kazaks indicated that the central bank intends to maintain current interest rates for an extended period, potentially pushing back the expected rate cut to mid-2024. Technical Outlook and Targets: The EUR/USD pair's bullish trend is evident in higher timeframes, presenting potential for a further uptrend. Our second take profit target remains at 1.11500, providing an optimistic outlook for continued bullish momentum. As the EUR/USD pair navigates key economic data releases and central bank statements, traders are advised to monitor developments closely, considering potential shifts in market sentiment and the impact on the pair's trajectory. Our preference Long positions above 1.08600 with targets at 1.10650 & 1.1150 in extension.
Long
by FOREXN1
1
EUR/USD: A Steady Rise Amidst Global Market DynamicsEUR/USD's Bullish Momentum: A Steady Rise Amidst Global Market Dynamics The EUR/USD currency pair recently experienced a surge in its value, reaching close to the significant 1.1000 mark before encountering a slight retracement. This move comes after a rebound from the 38.2% Fibonacci level, confirming our earlier forecast of a renewed bullish impulse. As of the latest update, the pair is currently trading around the 1.09560 area, demonstrating a positive trend. The backdrop for this ascent includes a favorable opening in Wall Street and decreasing US Treasury bond yields. Despite the release of better-than-expected Housing Starts data, the USD struggled to find traction, reflecting the impact of global market dynamics on currency valuations. An additional factor influencing recent market movements is the soft inflation data from the UK, reigniting expectations for a potential Bank of England rate cut in the first half of the upcoming year. This development led to significant losses for the Pound Sterling against other major currencies. While the USD did absorb some capital outflows, the Euro stood out as an attractive option for investors, leading to EUR/GBP achieving a fresh three-week high above 0.8650. Looking ahead, the scheduled speech by the Chicago Federal Reserve (Fed) President in the latter part of the day could introduce further dynamics to the currency markets. Maintaining our bullish bias, we anticipate a continuation of the positive trend, especially considering the supportive factors in the global financial landscape. The pair's recent retracement could be viewed as a temporary pause before another potential climb towards our targeted levels. Investors will be keenly observing further market developments and central bank actions to gauge the future trajectory of EUR/USD. Our preference Long positions above 1.0800 with targets at 1.1010 & 1.1150 in extension. Our previous Entry / Idea :
Long
by FOREXN1
1
EURJPY: MUFG CEO: BoJ may eliminate negative interest rate policMitsubishi UFJ Financial Group (MUFG) President Hiroki Kamezawa stated in an interview with Japanese media outlet Asahi Shimbun: The BoJ is gradually achieving its price target and wage hike "This is only a matter of time." The negative interest rate policy could be eliminated as early as 2024 due to positive developments in wages and prices. This policy has put pressure on the businesses of financial institutions because it reduces the profit margins they can earn on lending. MUFG is Japan's largest financial group and the world's second largest bank holding company.
Short
by Chart_MasterPro