It seems as if the pair is undecided whether it would want to move on an upside direction or not, although quite obviously, it is not compelled to move in an upside direction at all. Yesterdayís exit was recorded at the 9th figure, however, during nightfall, there seems to be a reversal. Meanwhile, the hourly charts suggest a bearish condition, and it looks like everyone is just compelled to buy a dollar. Which, is less motivating for the other currencies. And speaking of, let us observe where Europe will drag its currency at the start of the session. This is if it moves again to the 9th figure chances a signal for the beginning of growth, and if not, we will stay in the same area until the end of this week.
As we can see, sellers have taken a more active position, pushing the price downwards, thereby overcoming the support level. Now, a corrective movement is happening, and it seems that the quotes will be reduced further without giving the buyers any chance. All in all, the general trend is directed downwards, and the powerful impulse movements indicate the strength of the bears.
The technical side of the situation can be seen on the EUR/USD chart. There, you can determine the options for the pairís further movement.
The movement downwards may continue further, provided that the support line is crossed at 1.0865. After this level is broken, we should wait for the price to fix, and then go down the trend. In case of the opposite, if the seller is weak, the price will be returned back to the flat borders, and will be raised even higher to the resistance level. The resistance is located on 1.0892, and after overcoming it, we will go for a price increase to the next levels.
Today, the priority of sales is still in the direction of the general trend.
Open deals after the breakdown of the level, or in the case of a rollback.
Have a good day and profitable deals!
Generally, it's quite frightening to move into the euro at the moment. If we look carefully in the chart, the price still has a place to decline. But letís consider the current situation of this currency pair first by using the Andrews pitchfork as well as technical analysis figures. According to the weekly (W1) time frame, the ZUP only focuses on one pitchforks and they are headed downwards. The EUR/USD currency pair has re-entered their terrority, however, it happens to stumble upon a strong level which is specifically the level of 1.0875. Therefore, anything is possible here. It can move down immediately and fight back. In addition, it is possible for it to make a false breakdown and collect victims. Therefore, it is recommended to use stops while trading. Meanwhile, the pair on the daily chart is found in the Andrews; downward equilibrium zone. It successfully broke through the level of 1.0875 and is now directed to the level of 1.0850 (Middle line of Andrewsí pitchfork).
On the four-hour chart, the EUR/USD currency pair is found not inside the Andrews pitchfork. As a result, this will not be considered. Now letís analyze the same pair on the hourly (H1) time frame. The pair decline along Andrewsí descending forks and move towards the level of 1.0858 (the lower boundary of Andrews' pitchfork). From this area, a rebound upwards is expected, but so far, to the level of 1.0875. Moreover, there can already be both a breakdown and a subsequent rebound with a downward movement. And although today is Thursday, there will be no important news on the euro. Only one important news for the US dollar will be considered which is the Basic Consumer Price Index (CPI) (m / m) (Jan) at 13:30 UTC +00.
As for the euro, its movement without a pullback surprised many traders, since the pair usually passes 100-200 pips while moving in a sideways trend. This time, the pair has passed almost 350 pips from the level of 1.12.
According to the levels, there is no mandatory zone again, which means that the pair is about to turn around. In addition, the option borders do not press the price anymore and it is possible to trade in the range of 0885 to 0820. I think that tomorrow the price can make an unexpected movement for bears. So, we should go down and close the day in the area of the current levels.
Now let's see what the line indicator shows us. After yesterday's movement, the slope has changed. Now it is important to understand in what direction the price will get out of the range of 0866-88. The first target at the top is 0902, while the second one at the bottom is 0852. So, we should spend the day within these 50 pips and draw a reversal pattern.
As for the intraday trading, today's situation seems to be quite simple. The pair is still moving in a downtrend. The target is 1.0840. If the price breaks through the level of 1.0925, the downtrend will be cancelled.
Intraday levels for Thursday.
The upper level is 1.0925.
The lower level is 1.0885.
Yesterday, there was an expansion, that is, the price broke through both the upper level and the lower one, as usually happens after expansions. The breakout indicates a direction. For now, we are below 1.0885.
General review of EUR/USD.
The price is still trading in a downward trend. On H1, the pair is likely to turn around and make a pullback. I expected the price to go up today, but it is too early. So, let's not get ahead of ourselves. We should wait until H1 completes its reversal. In the meantime, according to the levels, the price will most likely turn around and make a pullback on Friday.
Greetings to all traders and speculators who are here in the forum!
We are looking forward to the upward pullback of prices of the euro/dollar currency pair, since they did not show any corrective upward movement following a strong downward movement of prices. This is not usual for the pair and thus, such a movement should be expected anytime soon. Perhaps, this currency pair will attempt to do this, although important fundamental data are not considered today. Nevertheless, there will be news in the afternoon which will try to support this. According to the four-hour (H4) time frame, there will be a significant level today which is particularly the level of support - 1.0823. From the outcome of closing prices, the further direction which the pair will move will be clear, which will also allow traders to earn profit.
Therefore, it is possible to break through and close under this level of support (1.0823). This indicates that there will be no more price correction upside and thus, the euro/dollar pair will further decline which will lead to the next level of support (1.0784), to which we will sell the pair to earn profit for the pairís downward movement.
On the contrary, in an instance of strengthening and closing prices at the top of the level of 1.0823, the pairís quotes will demonstrate the upward movement of the price, which will resume to the level of resistance (1.0823), to which we will buy the pair to gain profit for the pairís upward movement.
Although it is difficult to talk about the upwards correction right now, it may start at any time. In the meantime, weíre still moving downwards, and it seems that the stop is not expected.
Given the nature of the price movement, I think that we will continue to crawl down, since there are actually no obstacles in that direction, and the euro itself is not preventing us from continuing the said downwards campaign.
If you look at the weekly chart, you can see that the price is in a good downward channel, ignoring all indicator readings, and playing its own tune.
Moreover, the descent to the 7th figure looks pretty confident.
Price consolidation and corrections are not observed yet, but just in case, it is better to try to trade in the direction of the movement.
All in all, I am more inclined to a further descent to 1.0700.
It seems like the pair continues its non-rollback movement towards a downside direction, with the current price level at 1.0836. Moreover, for this day, I see a high probability of a continuation of the downside movement up to the level of 1.0800, and so far, I see no signs of a necessary price reversal for an upside pullback. On the other hand, there might be a rebound from 1.0800, and if the price succeeds to consolidate below this level, the succeeding target for the downside movement is at the daily support level of 1.0702. To sum this up, the euro undergone a tailspin with ambiguity on where the stop will be. So, to further analyze the situation, we continue to observe patiently. A profitable day ahead to us all!
I will spend you among my friends .The university has written a very good opinion of the Euro USD, people who are disturbed in it, they should first rate it on USD. Because Euro USD is a very good love and people who get sick are very easy to understand because its moment is very simple.
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