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USDEUR

EURUSD Turning Around, Part 2Update on the previous analysis: Previous analysis i said: Current 4H candle might become a small sell signal (at first). Think if the current 4H candle closes below 1.213, we should see a bit more downwards pressure. Past day i had in mind, that if it doesn't break 1.22ish, there is a still a chance that the breakout of past weeks might get stopped and see some zig zagging coming weeks or more. So needs a close below that green zone. Also when looking at the DXY chart, looks like a possible low being set (similar picture but upside down). Think a first target then would be around 1.2050ish. As long as 1.19ish holds, the trend is up. If it breaks, we could see a period of zig zagging between 1.15/1.22 It almost reached that first target i mentioned, but so far there is just no real weakness. Though the question still is, will it clearly break the 1.22ish or not. If it doesn't, the scenario described in the previous analysis still stands. We can see on the left there is a possible triangle in play. Upside resistance is around 1.214 and support around 1.210. Previous analysis:
by botje11
5
Sell USD through NovemberHere is another index chart USD vs EUR and Chinese Yuan combined (two biggest trading partners of the USA) from which you can see massive bearish engulfing after price broke yearly floor. Even more bearish breakout from consolidation is observed on USDEUR*USDYJPY chart. You can not see this well if you look just at EURUSD or DXY (which does not even include Yuan) charts. EURUSD should hit 1.22 by the end of this month. This is what I was speaking in one of my posts a few days ago, a missing 3rd bullish Elliott wave in EURUSD daily. See (its "upside down" from the chart above - means bullish eurusd rallies through November) -
Short
by ICFX
1
The threat ahead- Analysis on a bigger time frameIt has been true that markets were mainly driven by USD weakness and strength for the last few years. Dollar strength means mostly deflation for everything else, including Crypto as well. This USD vs Euro graph is a bit concern for me. On weekly basis, the parity is squeezing in a flat bottom triangle, and targeting sub .70 area, a the end on the long run. Also in the mid term, it points to a USD strength, which will probably hurt major asset groups that are priced in USD. If this triangle is not broken upside, most probably it will end up at 1.05 area . Keep in mind that the chart is weekly and the target needs some WEEKS to be delivered.
Short
by Baris_Sozen
EUR is overbought and has been struggling with major resistanceHello everyone, In this chart you can see the major EUR/USD longterm downtrend. And as we can now see the Euro has come up to a major inflection point. Currencies turn over a longer period so we should still see 45-60 days of chopiness between 1.18-1.20. And then I'd give a 70 % Probability of the Euro going down against the dollar. Though most recently the (the last few days) the dollar has weakened more although still within the parameters of this trade. A weekly close could give more info on where the Euro is going. For perspective check out the other ideas linked below. Thank you, Stay safe, stay liquid.
Short
by MedianLineAnalysis