Technical Analysis and Outlook:
The Euro Dollar, intermediate uptrend price action, is stalled at the weak Mean Res marked 1.1648; the second Key Res 1.1740 is high merit and significant sell point. On the downside, there is a Mean Sup 1.1595 while the important Key Sup 1.1530 is sitting below.
As previously anticipated, months ago, the downtrend for the pair is back in play following a positive shift in the Fed's policy and forecast for the us economy.
• The pair is bullish short term, trading inside an upside parallel channel.
• Next resistance is the weekly high at 1.1670.
• Second next resistance is somewhere near 1.1720...
See, people are not suddenly going to stop buying the USD because it's now a bit more obvious it is a ponzi scheme than before. It was already obvious before and they did not care and understand. It will slowly implode, with acceleration continuing (it started to accelerate in the early 2000s I think), now it is going about twice as fast as in the 2010s. Twice as...
resistance 1.16640, 1.15750
bullish as long price trading above white lower trend line
bearish on breakout of lower white trend line.
pice has made double top at daily resistance which end of channel before breakout.
if price makes support at lower trend line than it can break this daily resistance, making higher high up to 50%...
Just an idea.
EURUSD is currently in a correction phase after breaking its downtrend channel on the 4h timeframe,
Which has the possibility to reach levels between 1.18-1.20,
Before continuing its downtrend movement towards levels between 1.10-1.13.
Looking like US Dollar is rejecting for third time! So we might get a turn on Euro pairs like EUR/CAD and Gold / Silver / Oil. Watch out might get a short covering rally in all these pairs everyone is selling!!! Be careful on shorting....
On the 4H its clear for all that the price made rejection from the 150% Fibonacci extension after making new lower lows and now we all see the price preparing for a new highs before the continuation of the Bearish movement on the DAILY chart
we expect that the prices will start the strong bullish momentum after testing the levels of 1.15400 and the prices will...
As we can see, in the weekly timeframe, the price of EUR / USD is close below the static range and we expect the price to continue to fall again after a pullback and reach lower levels. what do you think ? agree or what ?
⚠️ This Analysis will be updated ... FX:EURUSD
👤 Arman Shaban : @Ar_M_An_4