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Eurusdtechnicalanalysis

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
EURUSD - RSI SIGNAL ANALYSISEURO/USD RSI SIGNAL ANALYSIS - Diagonal parallel channel acting as confinement zone for price, good for timing buys/sells and for stops above or below. - Red zones on the chart are oversold levels and green are overbought. RSI OVERSOLD - Can remain oversold for 28 - 30 weeks - Prime time window to buy is from week 26 - 28 RSI OVERBOUGHT - Can remain overbought for 17 - 22 weeks - Prime time window to sell is from week 17 - 22 - An RSI double top pattern has signaled the last overbought tops. You can also clearly see the relevance of the POC Line which price oscillates around or has trouble with breaching. We can observe what happens the next time the RSI is oversold or overbought and maybe we can use these weekly time windows to better gauge a buy or sell opportunity. PUKA
by PukaCharts
EURUSD 30-Minute Chart AnalysisTraders and analysts alike are perpetually drawn to the intricacies of chart analysis. In today's discussion, we delve into the 30-minute chart of EURUSD, shedding light on its recent price movement within the symmetry triangle's second part. This analysis unravels the story of EURUSD's descent since August 10, 2023, and the compelling zones that have come into play during this intriguing period. 1. Support 1 at 1.09002: At the foundation of this analysis, we find Support 1 at 1.09002. This zone has been instrumental in halting the price's decline on multiple occasions. It signifies the market's willingness to prop up the EURUSD pair around this level, showcasing the impact of investor confidence and the potential for a rebound. 2. Support 2 at 1.08742: Deeper within the price's journey lies Support 2 at 1.08742. This level has proven to be a robust barrier against further declines, demonstrating its resilience as a technical stronghold. Traders are closely monitoring how the price interacts with this zone, as it could be a decisive point for the pair's next move. 3. Resistance 1 at 1.09627: As the price attempts to regain lost ground, it faces its first challenge at Resistance 1, situated at 1.09627. This zone has acted as a notable ceiling for the EURUSD's ascent, revealing the hurdles in the way of a substantial recovery. Observing the price's behavior near this resistance can provide insights into the strength of the ongoing bullish sentiment. 4. Resistance 2 at 1.10059: Moving further up the chart, Resistance 2 at 1.10059 stands as a testament to the market's determination to resist the price's upward momentum. This level symbolizes a key checkpoint for the EURUSD pair, and traders are closely gauging how the price reacts as it approaches this significant boundary. 5. Resistance 3 at 1.10500: At the zenith of this analysis, we find Resistance 3 at 1.10500. This level represents the highest point the price has managed to reach since August 10. The battle between buyers and sellers intensifies around this mark, as the price's interaction with this resistance could foreshadow a breakout or a retracement. Conclusion: The EURUSD 30-minute chart offers a captivating narrative of the pair's journey through a symmetry triangle's second part, encapsulating the dynamics of its descent. The defined support and resistance zones, each with its own story to tell, guide traders in understanding the prevailing market sentiment. However, it's important to remember that while technical analysis offers valuable insights, a comprehensive trading strategy integrates various factors, including fundamentals and psychology, to make well-informed decisions. As the market continues to respond to economic data releases and global events, traders are poised to leverage the insights gleaned from this technical analysis, ensuring a holistic approach to trading EURUSD and capitalizing on potential opportunities.
by enclavefx_Analaysis
EUR/USD Analysis for Thursday August 10thCorrection in the video: I meant PPI numbers, not CPI* In this video I share a potential bullish setup for the EUR/USD and what I'm looking for in terms of targets and trend continuation. The EUR/USD has been on a slight uptrend and continues to make decent pullback dips for us to position ourselves for the next potential swing. Trading Tip: Use a stop loss and stay patient in your trading approach. There is no need to rush or chase any market. Protect your capital and patiently observe the price action movement.
Long
by InternalTraderNYC
3
EURUSD: One-way movements before NF and the influence of USDEUR/USD is recovering from its lowest level since July 07, finding support from a descending trendline that has been in place for three weeks. As of early Thursday, the currency pair is hovering around 1.0940. This bounce can be attributed to the oversold RSI (14) line, as well as market sentiment regarding inflation and employment data from both the Eurozone and the US. Additionally, a stronger S&P500 Futures and a decrease in Treasury bond yields have contributed to a consolidation of recent losses for EUR/USD. Possibility to keep dropping in multi-frame 1D
Short
by Sphyn-Trader
EURUSD: What will happen today?The data released by the European Central Bank (ECB) presents a combination of information that is not significantly impactful. Inflation has experienced a decrease, while the core rate remains stable, and prices for services continue to rise. As for GDP, it managed to avoid a decline, but growth was only minimal. Currently, market pricing suggests that the probability of another interest rate increase at the September meeting is less than 40%. On Tuesday, we can expect the release of both the final Manufacturing PMIs and the German Unemployment rate. EUR/USD drops below 1.1000 ahead of PMIs
Long
by Sphyn-Trader
1