The euro/dollar pair is still moving in a downtrend. H4 and H1 are heading down. Yesterday, the uptrend was confirmed on H1. But there is no upward wave yet, which means that it is still developing. The intraday levels are also heading down. That's not good, since one day is not enough to change a trend. So, on Friday, the price is expected to go down. But I am still waiting for an uptrend, but this does not mean that I open only buy deals. Everything has its time. H1 is not ready yet. So, we should wait until all the time frames are ready to turn around. Yesterday, I expected the pair to go down and reach the level of 1.1060, but it exceeded expectations and achieved 1.1040. So, it is time to think about an upward movement. First, we need to wait for the price to go into the area of buy deals. In the meantime, H1 is not ready for this yet, so I will not open sales. Yesterday, I bought from below. As for real purchases, the price has not yet ripened and it is too early to open buy deals.
Intraday levels for Thursday.
The upper level is 1.1108.
The lower level is 1.1036.
According to the intraday levels, there will be no breakout today.
Today, this gives us a narrowing, which means that the price is expected to make a reversal soon.
Today, I expect the pair to go back to 1.1070-80 and then down again, but without hitting a new low.
Let's look at what’s happening with the trend direction. On the attached image, we can see the downward movement at the local level. This means that it is a good idea to trade in the direction of the market sentiment.
Now, as for my opinion regarding the further movement of the price, I think that the previously formed downward movement has a very good trend character, with a potentially large chance of moving in this very direction. Therefore, I think that entering the market is a good option. The Fibonacci levels 38.20 and 50.00 can serve as the entry levels, as this area, in my opinion, is interesting enough to try to work out sales with a good profit-to-loss ratio, especially from the Fibonacci level of 50.00.
Let me share that the entry points in my Fibonacci trade are 38.20 and 50.00, and the loss limit is just below 61.80. In this particular situation, 38.20(1.1100), 50.00 (1.1130). Stop loss id 1.1160, while take profit is 1.1030.
Here’s the chart for the euro/dollar currency pair:
From the point of view of technical analysis, the price is directed downside, while oscillators are found in the overbought zone. However, trading at the moment seems to be uninteresting, since there is nothing good about the history of trading for the past two weeks. Moreover, it is obvious that the price with attempts is only trying to make a correction. Therefore, if we consider last month’s trading, the upside is not noticed. Currently at Asian trading session, the price is slowly being pulled up. However, it appears to be risky from the point of view of entering a position in the upward direction. Nevertheless, it is still reasonable to trade in such a small range and continuously move from where the price will be unfolding. Alternatively, you can still consider the downside direction for the EUR/USD currency pair, but only for a breakdown or if possible, upward pullbacks (this is exclusively for traders who are actually knowledgeable in calculating ranges). It is possible for traders to begin from the level of resistance 1.1060 and then permit an upward correctional movement. However, in case that you go on sale at this level, getting ready for some tricks and false breakdown at the top is necessary. For the second option, we consider trading for the breakdown of the supports and currently, the closest level is 1.0990. After that, it is necessary to wait for the price to consolidate under this level. To sum it up, there are two options that can be considered and both of them are downward. First, correction to the level of 1.1060 and moving downside after, while for the second one, a zigzag movement to the level of 1.0990 and after a price consolidation below it, you can enter sales. Lastly, the upside is not being considered yet, and so, we should only focus our attention to it after passing the level of 1.1170
We have another typical opening for the pair. The session began with the price heading towards an upside movement and is currently at 1.1035. This is specifically located at the upper side of the daily support level of 1.1026 and 1.1035. Now, if the price successfully stays above this level, we might as well anticipate a reversal of an upside movement for today at the level of 1.1039 to 1.1061 as well as at 1.1069. However, if it fails to do so, expect a continuation of a downside movement to the level of 1.1000 and then succeeding to the daily support level of 1.0980. But, given the current circumstances for today, I strongly believe there is a higher chance of an upside pullback. So far that sums up an observation for this pair today. A profitable day ahead to us all!
A pleasant day to everybody who is here right now!
Analysis for the euro/dollar currency pair:
Sellers are seen working diligently while trading and therefore, they managed to guarantee a breakdown of the resistance level as well as not providing buyers the opportunity to at least resist in some way. In this regard, the price moved slightly to correction, however, it is insufficient. As a result, the continuation of the further downward movement is highly likely, due to the fact that a strong impulse together with price fixing is needed to reverse the trend of events in favor of the upward direction.
So now, let’s focus our attention to the hourly (H1) time period and look for the possible support and resistance levels.
As we can see, the price has shown the level of support and was able to gain a foothold under it and it continues to systematically move downwards despite all the fluctuations. Now, in order for a further decline below, passing the next border around the level of 1.11021 is necessary. Given that everything is normal, then the decline will resume and in case that they are not permitted to break through the level, then we will rebound and move towards the resistance in the price range of 1.1037. Here, it is possible for either a rebound or a breakdown with gaining a foothold which will cause the EUR/USD pair to be directed upside. Moreover, it is certain and obvious that the downside will be the priority. As a result, transactions will be considered in a downward direction, however, only if the level breaks down from the upper boundary.
I expect the euro/dollar pair to go to 1.0980. Moreover, I think that the month will be closed at this level. And if the price breaks through the level of 1.0980, it is likely to achieve 1.0930. From the level of 1.0930, I expect a pullback, followed by the continued downward movement. This pullback is anticipated to be rather great, somewhere up to the level of 1.1050.
According to my calculations, the pair will not go up this week. Of course, there may be pullbacks. However, from a technical analysis, we should not wait for a global upward trend. For now, an uptrend is limited.
Intraday levels for Monday.
The upper level is 1.1061.
The lower level is 1.1021.
According to the levels, the situation is the same. The price is unlikely to move in an uptrend.
The breakout of 1.1060 will cancel the downtrend. In the meantime, the downtrend is the priority.
Now the pair is moving in a downtrend. If the price breaks through the level of 1.1061, the downtrend will be cancelled. That's all.
The EUR USD pair shows negative trades to move away from 1.1075 level, and as long as the price is below this level, our bearish direction expectations will remain valid for today, supported by the negative pressure formed by the EMA50, noting that our next main target is at 1.0985.
The expected trading range for today is between 1.0960 support and 1.1100 resistance
Greetings to all traders and speculators who are here in the forum!
Let’s discuss about the current situation of the currency pair euro/dollar:
According to the four-hour (H4) chart, the euro/dollar has not changed much. There was only a slight update by 10 points of the minimum below. At the same time, the quotes of the EUR/USD currency pair are still moving along the lower boundary of the downward channel around the price support zone, while trend indicators demonstrate the existence of the continuation of decline except for the indicator oscillators which indicates the likelihood of the price increase. On the other hand, we are still looking forward for the pair to develop its correction decline since the level of 1.0980 has not yet been broken. Therefore, in case that it really happens, the possibility of a sharp reversal will be considered. However, the zone is risky and the breakdown of the previous price zone will entirely spoil the opportunity of the buyers, which indicates that it is okay to forget the soon recovery of the euro/dollar pair.
According to the daily chart, the price continued to move on a downside movement yesterday which resulted in the formation of a bearish candle. For this day, I expect that the pair will undergo a further price reduction, taking into consideration the bearish trend at present. The key level for the downside movement is the support level of 1.09886, and in case the price breaks through and fixes below the said level, the succeeding goal will be the support level of 1.09406. So far that sums up an observation for this pair today. May we all have a profitable day ahead!
Good morning everyone!
Our “ranks", in which I participated with my purchases, tormented me, as euro’s bulls did not take up and draw a corrective rise. For today, the economic calendar is quite sparse in terms of news, so it is likely that there will be another flat state...
On the M15 timeframe, trading is conducted below the level of 1.1034. When the price fixes above it, there’s a possibility of a price increase. On the M30, the resistance is located at 1.1044, and the range of 1.1034-1.1044 is quite a serious barrier on the way. There are also thoughts that if we go up here, carefully sell in it, in order to slightly protect your suspended purchases...
On the hourly chart, the "watershed" level is at 1.1054. It is in this area that I have the most hopes for, since if it is overcome, there is a chance of strengthening by the beginning of the 1.11 figure. It's too early to talk about this though, and I’m only highlighting the fact that the pair continues to hover near 1.1016, which is 61.8 on the Fibo grid. So far, the support has held, but for how long?!
I am inclined to expect that today, they will still attempt to lower yesterday's minimum, although I am getting pretty close to the goals...
To sum it all up, I assume the following course of movement: a downward movement of quotes to 1.0990, followed by a rebound to 1.1020 - 1.1030. These are the clamped marks inside the day...
Have a nice day!
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