EURUSD has been providing successive low risk signals inside the 2024 Channel Down, as every crossing over the 4H MA50 is a technical sell opportunity. The 1D technical outlook remains bearish (RSI = 36.769, MACD = -0.004, ADX = 25.401) which continues to justify selling inside the Channel Down pattern. We are waiting for yet another 4H MA50 breach in order to...
Hello Traders !
Yesterday, The EURUSD Price Broke The Support Level (1.07237 - 1.07670).
This Key Level Becomes a New Resistance Level.
So, I Predict a Bearish Move.
-------
TARGET: 1.06695🎯
EURUSD remains within the 6 week Channel Down pattern and with today's analysis we are basically updating our February 01 outlook (see chart below):
Our area of focus now is the zone which the 4H MA50 (blue trend-line) and 4H MA100 (green trend-line) form. This is depicted on the chart by the red circle and as you see it has formed every Lower High of the...
EURUSD is trading inside a Channel Down ever since it made a High on December 28th 2023 with the 1D technical outlook steadily bearish (RSI = 39.870, MACD = -0.004, ADX = 22.645). After the price crossed under the 4H MA50 on January 2nd 2024, every time it recovered over it, the most optimal sell opportunity emerged for the short term. As long as the 4H MA200...
The EURUSD pair is declining on a rapid pace and this is a good time to update our sell perspective that we shared with you 3 weeks ago (see chart below):
This time we transition onto the 1W time-frame in order to gain a more efficient long-term understanding of the trend. The biggest development has been the completion of a 1W MACD Bearish Cross on last...
The EURUSD pair is extending its downtrend within the 1-month Channel Down and basically this is a quick update to our most recent analysis (January 19, see chart below) on the 1D time-frame:
Following the Fed Rate Decision yesterday, which left it unchanged at 5.50% and made clear they are in no rush to cut rates, we think it would be helpful to look at the...
Same bearish pattern EURUSD formed last week is what is repeating itself this week, after a retest I am expecting a retrace to the 50EMA and the resistance zone and then sell to our 800EMA which is at 1.08330.
The EURUSD pair is on a very tight consolidation within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) for the past 3 days. The long-term pattern is a Channel Down and this correction can be the start of the new Bearish Leg.
The 1D RSI pattern resembles the Bearish Leg of July - September 2023, which below the 1D MA50 targeting the 0.618 Fibonacci...
EURUSD is bearish on the 1D timeframe (RSI = 35.647, MACD = -0.002, ADX = 40.063) as it maintains the declining trend since the December 28th High and the pattern that prevailed has been a Channel Down.
Ahead of a 4H Death Cross, the 4H RSI is rising after being oversold two days ago on a technical Bullish Divergence that looks very much like the one that started...
A rallying USD is putting ample pressure on Euro futures. Now that we’ve broken trendline support, it appears that we’re in the midst of a steeper correction. How low can the contract go?
Technical Outlook :
Euro futures trended higher for the duration of Q4 last year, with trendline support dating back to November first. Weakness in the USD, and favorable...
The EURUSD pair has had a strong rejection last time we looked at it on the 1D time-frame (December 28 2023, see chart below), getting rejected exactly on Resistance 1 (1.1151) towards the 1D MA50 (blue trend-line), which is so far holding:
This is basically an update to this. We are on the exact same moments as August 11 2023, May 12 2023 and February 13...
Hello Traders !
On 4H Time Frame, The EURUSD Price Formed an Ascending Triangle Pattern.
So, Let's Expect The Bullish Scenario:
if The Market Breaks and Closes Above The Resistance Level !
We Will See a Bullish Move📈.
----------
TARGET: 1.11020🎯
The EURUSD pair gave us the best possible sell signal on our December 28 2023 idea (see chart below) as we sold exactly at the top, provided by the overbought 1D RSI:
We now shift our focus from the long-term to the medium-term as the price reached the bottom (Higher Lows trend-line) of the Channel Up and is consolidating around the 4H MA200 (orange...
EURUSD will most likely close flat today, a price action which is accurately depicted on the neutral 1D technicals (RSI = 51.556, MACD = 0.003, ADX = 38.804). On a wider horizon, this neutrality is a technical consolidation before the next phase of the bearish wave that started on the December 28th High. This chart shows that the whole 2023 has been a Channel Down...
Last week the dollar was mostly weak with DXY currently sitting at the 101 area and is about to test the key 100 level most likely after last week's much worse-than-expected Chicago PMI which came at 46.9 versus the expected 51 which was already far lower than the previous 55.8 and now sliding in the below 50 contraction zone.
Another negative for the dollar...
EURUSD has almost hit the top of the 12 month Channel Down and started to pull back with today's 1day candle being the strongest daily selling since November 30th.
The 1day MACD has formed a Bearish Cross and the downside potential inside this Channel Down is seizeable.
For now sell and target 'just' 1.07215 (bottom of the Megaphone and Rising Support).
If the...
EURUSD is testing a wide daily horizontal demand area.
The price is currently ranging on an hourly time frame.
A bullish breakout of the resistance of the range - an hourly candle close above
1.1085 - will be your solid bullish confirmation.
A bullish continuation will be anticipated at least to 1.1106 level then.
If the price drops lower, the setup will...
As We Talked in The Previous Analysis:
The EURUSD Price Reached A Resistance Level (1.10652 - 1.09952).
Currently, This Resistance Level Has Been Broken and Has Become a new Support Level..
So, I Predict a Bullish Move 📈.
TARGET: 1.12200🎯
