EUR/USD

[FxTaylor]

As I expected, the euro moved further yesterday. On Wednesday, the levels indicator is very uncertain, there is no mandatory zone, but the channel has surged considerably. I expect the price to rise slightly to 1.1891, and then a correction is very likely. It is important that the correction should not be very deep. Then a movement towards the 1.2254 level will be possible.

I will wait and see what happens next. At the moment, my long positions are at the breakeven point.



As for the pound, it also moved according to my predictions yesterday. It is important to test another low today and start a correction then. I do hope that the pair will reach this low, otherwise we’ll have three downside moves after which the price may surge again. There is another target at 1.4086. So, in the medium-term we need to go below the current liquidity ratio level. After that, a correction may start. These are my thoughts for today.

[GreedYForextrader]

The euro/dollar pair is still moving in an upward trend. However, today the pair is expected to make a downward pullback. The uptrend will be cancelled in case the price breaks through the level of 1.1795. The lower level shifted to 1.1720 from 1.1680 as I expected.



The British pound is trading according to the plan. The downtrend will be cancelled if the price breaks through the level of 1.3885, yesterday's level. Today’s one is 1.3865.

The level of 1.3750 can be seen as a target. In addition, the price may well reach the level of 1.3720 as a bonus. These are the levels at which the pair's bullish trend is likely to end.

[EarnestMike]

Hello


Fundamental analysis
The ECB has confirmed its course for supporting the EU economy. The ECB officials noted the decline in the economy and the extension of the Pandemic Purchase Emergency Program (PEPP). Surprisingly, according to some sources, the EU economy is expanding despite unfavorable conditions in the euro area. The manufacturing and trading activities are accelerating. If the economic conditions in the EU improve at some point, then the monetary policy will be tightened.

Meanwhile, the US indices rose on Monday but entered a correction the next day and lost their previous gains. Let’s wait for new economic releases, as the news may again weigh on the US dollar.



Technical analysis
The euro/dollar pair advanced to 1.1870. The European session has not started yet, but the market is already active. The pair is expected to continue its uptrend until it breaks through the level of 1.1893 and moves higher afterwards.

So far, there are no obstacles for further growth. However, we should consider the strengthening US dollar. If it begins to rise, EUR/USD may decline below 1.1785 and cancel the bullish trend.

I’ve missed the time for opening the deal as the signal was generated yesterday.

[CelestineJones03]

Good day to all traders and speculators who are here in the forum!

Let’s talk about the euro/dollar currency pair:

The price of the pair managed to reach the upside during the past day and rose as much as they could. The upward candlestick was fully absorbed from the level of 1.1914, which indicates that the pair has been shorted. Also yesterday, the price was pulled below the 1.1870 mark. If it maintains its position under this level, then the downward direction will most likely strengthen. However, before falling deeper, the price can attempt to further increase again. It is currently not seen above the level of 1.1900.

In this case, we will consider the level of 1.1840 as the main one for the continuation of the downward movement. A decline below will hint us to decline further. For now, the current quotes will guide us, and so we can still expect another retest to the level of 1.1900. But looking at the technique, it shows that the stochastic left the oversold zone and pulls the histogram downwards, which indicates the resumption of decline.

[Cai]

Greetings, everyone!

Yesterday, the EUR/USD currency pair began an active movement not to the south and more to the position of 1.1860. There were no adjustments during the American session, as well as the Asian one. Now, this pair is marking time in one place.



The indicators are showing different vector promises from "sell", "actively sell" to the exact opposite. I believe that the pair will continue to decline today.

Good luck everyone.

[Sandy05]

Welcome to the forum fellow traders and speculators!

What does the EUR/USD currency pair in store for us?

Yesterday, the price reversed and formed a reversal candle towards sell deals after updating the high of the previous daily range. Due to this signal, we expect the price to pull back to the dynamic support level (21 EMA), from which the price will continue rising. The closest benchmark will be the local resistance level of 1.20000 or 1.20585. Two possible scenarios will be considered around these resistances on how the situation will develop.

First scenario: If a reversal candle forms, the downward movement will continue. The price will move to the local support level of 1.17000. Around which, a trading setup may form, which will help us discover where to move next.

Second scenario: If the price breaks through either the resistance level of 1.20000 or 1.20585 and consolidates above it, then growth will resume towards the next pivot point, which is the local resistance level of 1.22418. A reversal candle is likely to form near this resistance level, which will lead the price downwards again.

[Caicai]

On the euro/dollar pair, the price has returned to the same area in which it spent last night. A kind of range for an overnight stay. Yesterday morning, the bulls went to storm the peaks, and succeeded for some time. Despite breaking above 1.1900, they were very clearly indicated that it was no longer their territory. In theory, more activity should be expected from sellers today.

[dboy930309]

Hello everyone, good morning! Based on my analysis, here are, what I think, the best positions in the market today:

Daily chart (D1):

For long positions, buy from the level of 1.2349 upwards.
For short positions, sell from the level of 1.1704 downwards.

Four-hour chart (H4):

Here, many positions are available for trading. One is to buy at 1.1989, while the other is to sell at 1.1704.

Hourly chart (H1):

This chart is good for quick entry and exit in the market. Hence, longs may be opened from 1.1915 upwards, while shorts may be placed from 1.1738 downwards.
However, deals should be set up only at the closing of the hourly candle. Then, exit at stop loss or take profit levels, otherwise, profit will be reduced, while expenses will be increased. Remember, trading is very precarious, but profitable if the strategy used is correct.

For longs: SL - 1.1815 TP - 1.2215
For shorts: SL - 1.1838 TP - 1.1438

Good luck!

[Caila]

It is very doubtful that the quotes will continue to grow after overcoming the distance of 200 points in almost three trading days. The situation is that the euro grew independently because other majors gave way to the dollar, all except for safe haven currencies, and this means that the single currency grew along with the franc and the Japanese yen. The euro gained weight after the statements of some EU countries about their readiness to complete the lockdown and the approval of the US program for economic development involving an increase in corporate tax. I expect a correction to the level of 1.1800 before the end of this week, as there is no reason for the euro to continue growing above the downward trend channel.

[meowsyub93]

Good morning everyone! Let me share to you my analyses for EUR/USD.

Fundamental analysis:
The ECB is in no hurry to wind down its PEPP program even though inflation turned out much higher than expected. According to them, everything is doing fine and there is no reason to panic.

At the same time, the US Federal Reserve also believes it is too early to curtail the QE program, although inflation has risen to 3%. According to them, more time is needed to observe inflation growth.

Technical analysis:
EUR/USD should decline from 1.1870-90 to 1.1785 today, after which it will collapse even lower towards 1.1703. All this should happen by the end of the week, or by Tuesday next week.