Hey traders, here is the analysis for the EURUSD. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
Imbalance area still not mitigated
News about EU central bank
Is war already discounted?
Be careful with the Fed Chair Powell Speech, today.
I'll trade after the speech.
The bearish momentum has been decreasing. There are RSI divergencies. Also, the price is over the bearish trending line. It is possible the price start bouncing between the high day and low day before.
EURUSD - Intraday - We look to Sell a break of 1.2159 (stop at 1.2181)
Bearish divergence is expected to cap gains.
Pivot support is at 1.2160.
Bespoke support is located at 1.2160.
Short term bias is bearish.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 1.2160, which will confirm the bearish sentiment....
EURUSD - Intraday - We look to Buy a break of 1.1825 (stop at 1.1799)
Short term bias is bullish.
Posted a bullish Flag formation.
A break of 1.1825 is needed to confirm the outlook.
Short term RSI has turned positive.
We look for gains to be extended today.
Our profit targets will be 1.1893 and 1.1933
Resistance: 1.1820 / 1.1850 / 1.1900
Support: 1.1800...
As I said, the price first dropped to support.
Continues to move along the support (before the start of new growth).
The price falls in a falling channel between the price and resistance lines.
During the fall, it came to support 1.172.
I expect the price to work out the correction and consolidate in the support zone (trend line + March 2020 support)...
- Further rally could be seen to cluster resistance at 1.2555. This will remain the favored case as long as 1.1602 support holds. On the downside, break of 1.2129 support is needed to indicate short term pullback otherwise, outlook will remain bullish.
- Currently we might see some pullback to 1.21400 before any upside continuation.
EURUSD moved 1.2200 level this week, the highest in recent weeks, retraced back to 1.1900 with multiple sideways movements holding its grounds as bulls enter again the trend to target 1.2300 level. Good luck with your trades.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
Entry: 1.17232
Stop: 1.8386
Target: 1.07743
DXY correlation in play once the weekly 200MA is broken
Bonus Target: 1.06773 due to a possible gap fill that was left by the French Elections
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