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Thread: EUR/USD

     
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    2021-07-28   12:07
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    A few weeks ago, the market expected a heated discussion of monetary tightening during the Fed meeting. However, a rise in coronavirus cases is making some changes. The issue of reducing the bond-buying program and raising interest rates will remain on the agenda. It will probably be postponed, even in comparison with the plans discussed during the previous meeting.
    Federal Reserve Chairman Jerome Powell is likely to be neutral or dovish in his speech, at least in terms of interest rates, primarily because he expects to continue talking about the risks of the worsening epidemiological situation. The euro/dollar pair still cannot reach the strong reversal level of 1.1855. We can establish bullish market sentiment if the price breaks through this level. It will indicate the likelihood of the pairs further upward movement to test the levels of 1.1919 and 1.2023.
    In anticipation of the outcome of the Fed meeting, market participants are likely to push the pair from side to side, making money on relatively small price fluctuations. Therefore, I think that there is no point in holding positions for a long time. A prolonged directional movement is possible only after the regulator's meeting.
    According to the hourly chart, the quotes have dipped below the level of 1.1819. Besides, the pair has a chance of sliding to 1.1806, from where I expect an upward wave to the local high, and it's 1.1840.

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    2021-07-28   11:56
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    Hello EURUSD traders. The EURUSD is bullish so far this week as its price has bounced upwards from the daily support area. Today, there is high-impact fundamental news for the USD. This news is the FOMC statement, press conference, as well as the interest rate. The news will affect the price of the EURUSD and so all traders of this pair must put this into consideration. I am here with a technical analysis of this pair which I hope to combine with the FOMC fundamentals to make profitable trading today.
    EURUSD H4 CHART
    Attachment 397111
    The price of this currency pair has made an upside breakout from the descending triangle on the H4 chart. This descending triangle started as a falling wedge but turned into a descending triangle when the price began to make equal lows around the 1.1755 levels. I would say the breakout was expected because the price has gotten to the narrow end of the triangle.
    Observing the chart closely, you will see that this pair broke above the falling resistance line of the triangle, then made a retest of this resistance line before bouncing upwards again. This is further confirmation of the bullish trend. With this breakout, I expect this pair to rally towards the previous daily swing high around the 1.1970 price level.
    EURUSD D1 CHART
    Attachment 397112
    The price action on the D1 chart of this currency pair indicates the presence of bullish pressure. The price has made a bullish rejection of the support level around 1.1755 and is now heading upward.
    The bulls are most likely to push this pair to the next major resistance on the daily chart. This resistance corresponds with the previous highs and it is around the 1.1970 - 1.2000 price levels.
    In conclusion, the technical analysis of the EURUSD suggests a bullish move. For this reason, I have a bullish bias in this pair and my bias will change only if the pair drops below the 1.1755 support level.

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    2021-08-02   11:17
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    Hello EURUSD traders. The forex market is open for a new week of trading and our favorite pair is already making interesting moves. The EURUSD currency pair was bullish last week and only made a slight bearish pullback after hitting the 1.1900 price level. The technical analysis of this pair points to a more bullish movement this week. I'm sharing multiple time frames analyses to broaden our perspective of the price action of this pair.
    EURUSD H4 CHART
    Attachment 398613
    The price of EURUSD has broken the falling trendline which was holding as a resistance line on the H4 chart. The break above this trendline shows that there is strong bullish momentum in this pair and the bullish rally to the daily highs around the 1.1970 price level is in full effect.
    The price has experienced a bit of resistance around the 1.1900 price level. This does not come as a surprise because that level is a major psychological area of interest. However, I expect that this pair will make a slight pullback and then rally upwards again, this time, with enough momentum to break the 1.1900 price level.
    EURUSD D1 CHART
    Attachment 398614
    The daily support level around the 1.1755 price level has proved itself as a solid support level once again. The pair has made a strong bullish bounce from this level and it is still making its way higher.
    On the daily chart, there is still enough room for this pair to move upwards because the next potential resistance is found around the 1.1970 price level.
    The bulls will target this resistance level to take profit. So, long-term traders can also set this level as their target.

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    2021-07-30   09:28
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    The level of 1.1876 has broken upwards. Currently, the price is testing the psychologically important level. If it succeeds in overcoming this level, I expect the quotes to rise to 1.1908 at most. If the price breaks through 1.1908 and consolidates above it, the euro/dollar will most likely extend gains, advancing to 1.1990. However, its further bullish run has a limit, as this level acts as strong resistance. Therefore, the euro/dollar pair may pull back down.
    Attachment 397710
    The general trend is upward.
    Attachment 397711
    According to the chart, I can assume that a rise in quotes to 1.2156 is possible.
    However, it is necessary to take into account the overbought status in the market. The pair has almost approached the important resistance level. Thus, we should expect a drop in quotes as part of a downward correction.

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    2021-07-29   14:38
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    Technical Analysis Of EURUSD H4 Time Frame
    Take a look at the H4 chart of the EURUSD pair. The EUR / USD pair has completed its growth above 1.1850. Today I expect that the price will create specific consolidation around 1874 and 1880 above the 50.0% Fibonacci retracement level. Further, we will look at the opportunity of the price maintaining correction until 1.1924. After that, I expect the price will go up to 1.1900 at (38.2%) and 1.1935 at (28.6%) Fibonacci retracement levels, which will help the price rise. The next bullish bias target is staying at the 1.1980-85. The breakout of the first resistance barrier would lead to the critical resistance of 1.1980. The surpassing of the 1.1830 resistance confirms the bearish sentiment in the pair is over now, and the current wave of increasing demand will help price grow. Currently, price trading is above the SMA-200 and EMA-100, which is a crucial factor in price growth. The V-Circle is now favoring the long-term target of 1.2470.
    Attachment 397494
    Technical Analysis Of EURUSD H1 Time Frame
    On the hourly chart EURUSD, the pair's price took a good spike in the upward direction. The pair's price is 1.1878 and consolidated above the (50.0%) Fibonacci retracement level, indicating that the pair price will show sideways movement once again before opening the US session. On the hourly chart, if the price breakout the 1.1890 resistance level, the buying opportunity will appear for the buyers, leading the price towards the next level of resistance at 1.1935-40. On the other hand, If the price breakout (61.3% Fibonacci retracement level at 1.1845) will confirm the bearish scenario for price decline, the sellers the lower border of the hourly level to 1.1815 near the SMA-200 and will most expect to go down towards 1.1785. However, the pair's price could be bounce by the upper border of Ichimoku, which helps the price rebound in a positive direction again.
    Attachment 397495

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    2021-07-28   10:24
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    This trading week is going to be rather interesting. The euro/dollar pair has successfully broken through the 1.1800 level and is now trading exactly in the middle between the two levels. Well, I do not want to open long positions from the current values.
    Let's see. Perhaps the price may pull back at least to the level of 1.1800 again.
    Attachment 397097
    In this case, it makes sense to open positions to catch an intraday correction of 50 pips. I hope that there will be some price fluctuations before the Fed meeting and I will be able to enter the market.

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    EUR/USD TECHNICAL OUTLOOK

    EUR/USD reached a 15-week low after unsuccessful recovery attempts in yesterday's trading. The stock market improved, but the facts show that this will provide significant resistance for the currency pair entering a decision by the European Central Bank tomorrow afternoon, but the US dollar could remain strong. All things are expected to stay the same, but traders may pay attention to Lagarde's comments on price hikes and the ongoing pandemic. The European Central Bank has always been one of the most pessimistic central banks in Europe and can remain so for the time being, so don't expect many surprises from tomorrow.

    The euro/dollar has fallen below 1.18 four times over the past week. So I think the market still believes that the pair will try to recover to 1.19 when it drops below 1.18 again on Monday. However, a series of troughs and troughs paints a clear picture. That said, even if the bulls try to cross 1.1775, there is some short-term upside risk. If the price continues to decline, a support area (1.1738 - 1.1704) is preceded by a support area used to maintain the March correction and then recover to 1.2266. Therefore, this area will be a crucial indicator of market sentiment that currency pairs need to pay attention to the market. The lowest discrimination exposes the currency pair on line 1.17. After five months of trading, the line has not changed since November 2020.
    EUR/USD DAILY TIMEFRAME CHART
    In this chart, I have applied Simple Moving Average ( 20, 50, 100, 200) and RSI (14), and MACD (12, 26, 9) Indicators.
    Name: EURUSDDaily.png Views: 91 Size: 60.9 KB

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    Greetings to our dear traders and speculators who are here in the forum!

    Lets discuss the current situation of the euro/dollar pair:

    It looks like theres growth on Wednesday, but there were already four attempts to rise for the last 20 days. The pair successfully update the low, so there is not much growth at all. In order to buy, it is necessary to break through the upward targets from the ascending channel 1.1850-1.1880, but it is still too early to purchase. It is assumed that the pair will further rise, but it is unknown if this is due to the fact that there is a crowd waiting for growth. This instrument can still collapse and heat up buyers in one plunge, so we are waiting for a strong signal in the form of a breakdown of the channel and the mentioned levels. The growth seems to be good for the pound, but we can update the low there again. Accordingly, the EUR/USD pair can do the same. The meeting of the ECB can be expected on Thursday, so we need to monitor this.

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

    Daily TF (D1):
    Name: screenshot-1.gif Views: 38 Size: 29.9 KB
    For long positions, enter at the level of 1.2266 or higher.
    For short positions, enter at the level of 1.1704 or lower.

    Four-hour TF (H4):
    Name: screenshot-2.gif Views: 28 Size: 23.9 KB
    Here, many positions are available for trading. One is to buy at 1.1912, while the other is to sell at 1.1752.

    Hourly TF (H1):
    Name: screenshot-3.gif Views: 28 Size: 25.6 KB
    This chart is good for quick entry and exit in the market. Hence, longs may be opened from 1.1825 upwards, while shorts may be placed from 1.1752 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 - 1.1725 TP - 1.2125
    For shorts: SL - 1.1852 TP - 1.1452

    Good luck!

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    Name: 2021-07-22 FP.jpg Views: 35 Size: 270.2 KB

    The price of the euro/dollar pair remains to linger around the round level as if nailed down. At the same time, the level of 1.1800 does not act as the center of rotation, as it did a few days before, but only as the upper limit. If we assume that the bulls will be able to drive the price higher, stops may be triggered, which are probably higher. And if the price flies above 1.1820, you can generally wait for an upward acceleration there.

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    Name: 2021-07-22 FP4.png Views: 37 Size: 12.1 KB

    The H1 chart shows that during yesterday's trading session, the EUR/USD currency pair bounced off the lower border of the channel. And then, the pair increased by 52 points (1.1753 1.1805) and tried to go beyond the upper trading channel. The pair is currently in the zone between the support levels of 1.1784 and 1.1763 and the resistance levels at 1.1815 and 1.1836. The indicators currently hint at the possibility of selling the pair to the lower border of the channel.

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    EUR/USD remains stuck around 1.1750 and 1.1810, continuing the sideways trend. But if today traders manage to push the quote above 1.1810, the pair will jump towards 1.19.
    Meanwhile, a drop below 1.1750 will provoke a deep decline.
    Name: 1.png Views: 56 Size: 186.6 KB

    But in this time frame, the downward correction should end as soon as the pair hits the buy stops. Then, afterwards, it should climb up and head to the area of sell stops.
    Breaking through the 23rd and 24th figures will set off a further increase to the 26th figure.
    Name: 2.png Views: 54 Size: 180.4 KB

    Open positions based on the market signals. Good luck!

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    EURUSD Technical Analysis:


    It's unfortunate for EURUSD not to return to the low of March at 1.1704 which has ever been my main bearish target since last month. The pair has likely bottomed at the low of this week at 1.1751, it might not have the chance to test 1.1704 soon, it will likely reverse back to the higher prices starting from today. Bullish patterns are now gradually forming on the daly chart of EURUSD, the market ended yesterday's daily chart candlestick in a bullish Harami pattern, and today's candlestick is bullish above the close of yesterday's candlestick at 1.1793. This is a preparatory development for a bullish reversal, if not, a significant bullish correction is to be expected on this market.


    The most important breakout has happened with a bullish break of the daily chart trendline resistance at 1.1793 in yesterday's session, the market closed the day above that level. This will buildup bullish momentum for EURUSD as I expect more bullish candlesticks to be formed above the broken trendline. The nearest targets of the recent developments are at 1.1880 and 1.1975. The stochastic oscillator is positive for EURUSD, it has a bullish cross and points upward for more bullish movements to commence on this pair.


    Name: eu D.PNG Views: 57 Size: 21.8 KB


    The hourly chart of EURUSD is another timeframe that explains the bullishness of the pair. The chart outlook shows that EURUSD has forsaken its bearish channel, it's time for the pair to rise. The bullish candlesticks on the chart have started to gain more relevance among buyers as the chart started having a breakout above a closed bullish candlestick. More bullish movements are to be seen today especially at the time that the MACD is also positive on the market.


    Name: 1626928696044_eu 1h.PNG Views: 51 Size: 20.1 KB

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    The current trading picture is giving a strong upward impulse. Right now, consolidation is taking place on the hourly time frame. In case the upward trend persists, the initial target will be at the local resistance at 1.1820. A breakout of this level will lead to further growth to the resistance at 1.1850, which currently serves as the key line for the successful growth to the 20th figure. So, everything will depend on the movement of the pair from this level. Moreover, the ECB meeting is expected today, which may also affect the dynamics of the pair. Purchases look best at the moment. Selling the pair is not yet advisable.

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    At the moment, the pair is trading upward and is located above the opening level. The technical indicators suggest the construction of an upward trend. If the price trades above the level of 1.1805, with a breakout, further upward movement is expected to the levels of 1.1810 and 1.1820. On the other hand, if the price trades below the level of 1.1782, a downward movement is possible with targets to the levels of 1.1760 and 1.1730.

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    I continue to keep my long positions on EUR/USD open.

    Name: 1 (4).png Views: 1254 Size: 102.0 KB
    I expect the price to reach the mark of at least 1.1860.

    As I can see, some of you choose to go short amid a correctional phase in the market. Lets see what kind of correction this one will be. There is no doubt that the price will move lower. The question is from which levels it will start to decline. The pair has a good chance of reaching the area of 1.1910 - 1.1930. Only then will it again move downwards. It means that all the bearish stop losses will be triggered. Meanwhile, I dont consider going short from the current levels.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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