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Thread: EUR/USD

     
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    2021-04-09   12:28
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    The euro/dollar pair has been trading upwards for the whole week. However, the trading week is not over yet. Therefore, the situation may change. I still expect the quotes to go down and I keep my positions open.
    Attachment 360190
    According to the trading chart, we can see the formed resistance near ​​yesterday's high and two support levels around ​​1.1860 and 1.1810. Unfortunately, the price will hardly be able to achieve the target of 1.1780 today. Such a significant intraday movement is impossible as there are no strong drivers which could have an impact on the pairs dynamics. Its further possible movement is schematically depicted on the four-hour chart.
    According to other trading charts, the price may well reach the Murray level of 1.1963, from where it will be possible to enter the market with short positions.

    The attachment
    2021-04-08   14:21
    Best post today #2
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    Attachment 359676
    Technical analysis
    The shooting star pattern has been formed on the 4-hour chart. This pattern represents a bearish reversal candlestick. Today, I expect the euro/dollar pair to decline from the levels of 1.1870-90. The mark of 1.1785 can be seen as a target where there is support. The next target level for the pairs decline is 1.1703. The quotes are likely to test these levels by the end of this week or by next Tuesday.
    Fundamental analysis
    The ECB is in no hurry to phase out the pandemic emergency purchase programme (PEPP) aimed at supporting the European economies, although the inflation rate is much higher than expected. Nevertheless, the ECB economists believe that there is no reason to panic. US Fed analysts note that it is too early to curtail the quantitative easing program, although the inflation rate has risen to 3%. According to the members of the Fed's board, they need more time to monitor the inflation growth, and only then they will be able to adopt a tough policy.

    The attachment
    2021-04-08   14:32
    Best post today #3
    Accrued payments  3730 USD

    Attachment 359679
    Yesterday, the euro and the pound sterling continued to trade mixed against the US dollar. As for the euro/dollar, it has gone too far as part of a correction, and I think it is time to go down. The price needs to retest the level of 1.1700. Speaking of the current trend, bears are clearly taking the lead, at least according to the daily trading chart. In this case, I think that counter-trend trading is too risky. However, sometimes I can take the risk, provided that a profit-to-loss ratio is rather great. In general, it is better to enter the market with short deals on pullbacks.
    As for my trading strategy regarding this currency pair, I continue to hold short positions opened earlier with the help of the pending order. The starting point for a sell deal was a fairly strong resistance level. If everything goes according to the plan, the profit will exceed the risk. I hope that the fundamental news will help me do that in the near future.
    Let me remind you that short positions can be opened from the resistance level of 1.1865. A stop-loss order can be placed at 1.1910, and a take-profit order can be set at the level of 1.1740.
    Attachment 359682
    According to the trading chart, the quotes are moving in a downward trend, that is, sellers are driving the price. Investor sentiment on this currency pair has been bearish for more than a day. From the point of view that the trend is our friend, market participants need to trade in the direction of the price movement. Thus, I recommend opening short positions below 1.1950 with a view to reaching the target points of 1.1700 and 1.1610. A possible pivot point is located at 1.1950. Alternatively, if the price breaks through the 1.1950-1.1970 price range, the way to the levels of 1.2030 and 1.2130 will open.
    Attachment 359683
    As for todays macroeconomic calendar, the data on initial jobless claims in the United States as well as Federal Reserve Chairman Jerome Powells speech may stir up the markets today.

    The attachment
    2021-04-14   14:22
    Best post today #4
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    New highs have been reached in the Asian session. This can be good for bears as we can expect a pullback to the blue zones.
    Attachment 362384
    On EUR/USD, the uptrend is still in place. The breakout of the 1.1877 level will cancel the trend. Yesterdays level was 1.1977, so Ill stay near this level until a new one is formed.
    On GBP/USD, everything is going as we expected. The upward movement continues with the target at 1.3810. The breakout of the 1.3692 level will cancel the trend. This level is also left from yesterday, and a new one has not yet been formed.
    Now lets have a look at the blue zones on other assets.
    Attachment 362386
    Today, the blue zones can be found on EUR/USD, the pound, kiwi, Aussie, and oil.
    Lets monitor how they will be closed. Yesterday, the Canadian dollar closed all the blue zones, went back and moved far lower. The thing is, the upside movement was rather long for CAD which means that a flat channel is being formed. As I see it, the trend will change at any moment as it has been holding like this for quite a long time.
    Meanwhile, the downtrend on EUR/USD can be a flat movement rather than a decline. This will be favorable for the bulls. However, it is still too early to talk about it. We need to wait for a second wave of the downward pullback, only then can we determine new targets.
    This is what we have for today, we need to wait for the blue zones to be closed. Then, lets wait a downside reversal on M30 as it is now indicating an uptrend.

    The attachment
    2021-04-14   14:35
    Best post today #5
    Accrued payments  3594 USD

    Attachment 362390
    I think that market sentiment will change soon as bulls cannot drag the price up forever.
    There is a resistance level at 1.1990 at the top, but the euro/dollar pair will hardly be able to reach it. Yesterday, the price broke through 1.1940. From this level, the pair could have started its downward movement, but bulls made every effort to continue pushing the price up. Now we need to carefully monitor trading in the European session. If bulls fail to pull the price further up, the pair will most likely go down soon.
    To be more precise, I think the price will not reach the 1.1990 mark, and the market will begin to turn around towards the downside from the current levels.
    Bulls had two days at their disposal to achieve 1.1940 and then 1.1990. They managed to reach the first target, but the second one is already in question.

    The attachment
    2021-04-09   12:14
    Best post today #6
    Accrued payments  3225 USD

    Good morning!
    I hope you have time to rest at night and not only wait for profit. I will give my traditional review of the pairs
    Attachment 360182
    EUR/USD is generally moving upwards. However, there are signs of a downside reversal on the intraday chart. The breakout of the 1.1914 level will cancel the downtrend. The nearest downward target is 1.1750. So, my early predictions are still relevant.
    GBP/USD is steadily moving downwards. The breakout of the 1.3781 level will cancel the trend. I have no levels left below. The price has already tested them all even with a bonus. My bonus level was at 1.3690, while the pair has reached the level of 1.3670.
    Technical picture for other currency pairs
    Below, you can see a chart of 8 currency pairs, with white arrows showing the main trend. Red and blue lines are the indications of the pairs trajectory on the intraday chart. They show what is exactly happening within the main trend.
    Attachment 360188
    -Currently, EUR/USD is trading down on the intraday chart.
    -The same is true for the pound.
    -Both Aussie and Kiwi are trading flat, while the intraday chart indicates a downtrend.
    -The Franc is heading for the downside and is unlikely to change its direction.
    -USD/JPY shows a pullback from the main trend which indicates an uptrend on the intraday chart.
    -CAD is holding within an uptrend. It has made an intraday pullback to the upside. If it doesn't renew its high, the trend will be cancelled.
    -Oil is trading in a descending flat channel.
    -Gold is generally moving upwards, but its direction is not yet clear on the intraday chart. I expect it to start a downtrend.
    If you feel that the second screen is better for you to understand, please let me know. I just want to figure out what is the best way to describe the trajectory of the pairs. Its all clear for me what is going on, but for some of you it may not be so easy. So, I do my best to make it more convenient.

    The attachment
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    Hi, everyone!

    According to the hourly chart, the growth cycle continues, and it is likely to end at midday. Meanwhile, I am waiting for the price to retest the broken resistance level from top to bottom in order to open intraday long positions. In the Asian session, the pair is trading upwards, in contrast to the previous Monday and Tuesday. The MACD histogram continues to fluctuate above the zero line, drawing a fence. This is a sign of bullish sentiment and price consolidation at highs. In the short and medium term, the pair is moving in a stable upward trend.

    Name: 1.png Views: 58 Size: 29.3 KB

    The price has already reached the level of 1.1960, and the next growth target is located in the area of 1.2000. According to the M30 chart, the growth cycle was completed in the Asian session. The euro/dollar pair will most likely trade with low volatility until the European session. The price continues to move upwards by inertia. However, there are signs indicating that the uptrend will be broken soon. Following a couple of sharp downward movements, it will be possible to buy the pair again.

    I think that the pair will not have enough strength to reach the level of 1.2000 without a pullback. Nevertheless, this scenario cannot be excluded. Therefore, I would better take a wait-and-see approach until the European session opens and the situation becomes clear. Today, the price will pass the equator of the week, and the euro/dollar pair has every chance to spend the second part of the week in negative territory. I am going to buy the pair amid a pullback towards the 1.1900 area.

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    New highs have been reached in the Asian session. This can be good for bears as we can expect a pullback to the blue zones.

    Name: 1.png Views: 50 Size: 109.2 KB

    On EUR/USD, the uptrend is still in place. The breakout of the 1.1877 level will cancel the trend. Yesterdays level was 1.1977, so Ill stay near this level until a new one is formed.

    On GBP/USD, everything is going as we expected. The upward movement continues with the target at 1.3810. The breakout of the 1.3692 level will cancel the trend. This level is also left from yesterday, and a new one has not yet been formed.

    Now lets have a look at the blue zones on other assets.

    Name: 2.png Views: 11 Size: 200.8 KB

    Today, the blue zones can be found on EUR/USD, the pound, kiwi, Aussie, and oil.

    Lets monitor how they will be closed. Yesterday, the Canadian dollar closed all the blue zones, went back and moved far lower. The thing is, the upside movement was rather long for CAD which means that a flat channel is being formed. As I see it, the trend will change at any moment as it has been holding like this for quite a long time.

    Meanwhile, the downtrend on EUR/USD can be a flat movement rather than a decline. This will be favorable for the bulls. However, it is still too early to talk about it. We need to wait for a second wave of the downward pullback, only then can we determine new targets.

    This is what we have for today, we need to wait for the blue zones to be closed. Then, lets wait a downside reversal on M30 as it is now indicating an uptrend.

    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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    I think that market sentiment will change soon as bulls cannot drag the price up forever.

    There is a resistance level at 1.1990 at the top, but the euro/dollar pair will hardly be able to reach it. Yesterday, the price broke through 1.1940. From this level, the pair could have started its downward movement, but bulls made every effort to continue pushing the price up. Now we need to carefully monitor trading in the European session. If bulls fail to pull the price further up, the pair will most likely go down soon.

    To be more precise, I think the price will not reach the 1.1990 mark, and the market will begin to turn around towards the downside from the current levels.

    Bulls had two days at their disposal to achieve 1.1940 and then 1.1990. They managed to reach the first target, but the second one is already in question.

    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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