EURUSD - Accumulation of FVG, selling pressure.🔺Related Information: ( eurusd )
The EUR/USD pair eases back and trades around the 1.1580 area in the early European session on Tuesday. The Euro (EUR) softens against the US Dollar as rising geopolitical tensions in the Middle East push investors toward safe-haven assets.
According to Bloomberg, US President Donald Trump had indicated a possible five-day window for Iran, suggesting renewed negotiations with Tehran that he believed could help reach an agreement and ease the conflict. However, Iranian authorities rejected these claims, stating that no discussions with the United States were taking place following Trump’s comments.
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📌 Chart analysis:
🔗 Short-term timeframes: M15, M45, H1
H1 is currently consolidating below: 1.16160
Formation of a H1 downtrend line
🔗 Medium-term timeframes: H2, H4
Follow the EMA below, the short-term downtrend line.
Key zones:
🔗 Supply zone (resistance): 1.16160
🔗 Demand zone (support): 1.14900
🔗 Three EMA moving averages; technical indicators: stochastic, volume
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✏️ Personal opinion:
Accumulation around FVG on the daily chart is creating selling pressure on EURUSD, which is trading sideways and waiting for a breakout. My thoughts on EUR/USDSince January 31st, EUR/USD had been in a bullish trend--a bullish channel in the 4H and 1D. I knew we were about to break out of this bullish trend. I had been anticipating a very strong reversal for a while, given we recently retested the top of another stronger Trendline. A much more reliable channel. the channel I speak of is the 3M, 1M and 1W timeframe channels, they are bearish. We once again hit the resistance of this monthly channel, while, at the same time being in a bullish trend in the 4H and 1D timeframes. So obviously I presumed the 4H bullish trend would end and reverse-which it has and did. This monthly bearish channel has been active for 14-17 years and has perfectly retested the support and resistances numerous times--making it a valid A+ setup in my book. To further this, on the 4H-1D timeframes, while we were still inside this 4H bullish channel, we saw a perfect Head and Shoulders pattern and quickly got our confirmation when it crossed the neckline. All of this indicates we will see strong selling pressure very soon.
So, where are we headed exactly? Well we know that we have FVGs and strong Supports. key areas for TPs are 1.09, 1.06, and on the monthly as low as 0.82.
If you guys have any questions feel free to ask. And share your thoughts and opinions on EUR/USD--thanks :)
Example Short Orders
SL 1.137
Limit order 1.255
TP1 1.09
TP2 1.06
TP3 1.02
TP4 0.82
(Maybe i am wrong, but if I am it will be the first time in 17 years for EUR/USD.. I like the odds)
OANDA:EURUSD EUR/ USD!! 5/12/2023 supporting the DOWN trend⭐️ Smart investment, Strong finance
⭐️ EUR/USD INFORMATION:
The US Census Bureau released data on Monday revealing a 3.6% month-on-month decrease in US factory orders in October, following a 2.3% increase in the previous report. In addition, the Institute for Supply Management (ISM) reported that the US ISM Manufacturing PMI remained unchanged at 46.7 in November, falling short of expectations.
According to Federal Reserve (Fed) Chair Jerome Powell, the US monetary policy has been successful in slowing down the economy, as predicted, with the overnight interest rate now in restrictive territory. Although Powell emphasized the Fed's readiness to further tighten policy if necessary, market sentiment suggests that the rate-hike cycle has reached its conclusion. Consequently, this has put downward pressure on the US dollar across all markets.
⭐️ Personal comments NOVA:
The price area touches the downtrend line, Scalping during the day is a SELL signal
⭐️ SET UP EURUSD PRICE:
🔥SELL EUR/USD zone: 1.08500 - 1.08650 SL 1.09100
TP1: 1.08000
TP2: 1.07700
TP3: 1.07400
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Short
