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Thread: EUR/USD (part 80)

     
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    2021-01-18   11:56
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    Attachment 320483
    On the EUR/USD pair, the downtrend is still in place. However, both buy and sell positions dont look good at the moment as there is no clear signal. Of course, you can open long positions, but I would rather wait for a signal. So, currently Im not trading EUR/USD.
    The downward movement will be cancelled after the price breaks through the level of 1.2145.
    On the GBP/USD pair, I expect to see an upside pullback just as with EUR/USD. But we need to wait for a signal here as well. I think it will be generated later in the day or tomorrow morning. The downtrend on the pair will end if the price breaks through the level of 1.3668.
    Attachment 320484
    Technical outlook for EUR/USD
    The pair is fluctuating on the H4 and H1 time frames, which is not ideal for trading. It sometimes happen when the price is about to reverse. Now it seems to be changing its direction from the upside to the downside. Yet, its too early to say for sure that the uptrend has finished. I think that this is just a phase of correction, and the price will return to the upside several times. So, bulls may still surprise bears this week.
    So far, the bearish trend remains strong. Lets wait for the European session.

    The attachment
    2021-01-19   10:40
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    Today, we have a clear levels indicator on EUR/USD from where the price may fall to the lower boundary of the channel. From there, it will either reverse and start a short-term correction or move to the upside in the final wave. Im not going to sell here as the Stop Loss is too far. Id rather open buy positions if the price moves to the lower boundary of the channel. In the case of an uptrend, I will evaluate the range. If the pair manages to rise to the 1.2260 area, where we have a mandatory zone, then the downtrend is likely to stop there. So the expected upward movement will clear the picture.
    As for GBP/USD, it continues its upward movement to the 1.2796 level. The levels indicator that has been formed today shifted the boundaries to the upside. Although the mandatory zone does not support the uptrend today, there is still a chance to move higher instead of being stuck under the lower boundary until tomorrow. I expect to see a rise according to the blue-line scenario. Some areas in the mandatory zone still have to be tested. I closed some of my long positions from yesterday. Im going to monitor further developments and I will probably add some more buy positions today. If the downtrend continues, I will wait until buy positions reach the break-even point and will keep my short positions open at 1.3350 until then. Thats all for now.

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    2021-01-18   09:11
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    At the end of the last trading week, bears took the lead and pushed the price down.
    As a result of the pair's decline, the quotes were able to break through the support level of 1.2112.
    At the same time, the volume was quite high amid the pair's downward movement and breakout of that level.It indicates that major bears continued to enter the market.
    Moreover, the very fact that the price has consolidated below the level of 1.2112 points to the weakness of buyers, who failed to stop the pair's bearish movement even despite a large number of pending buy orders near this level.
    Besides, the fact that the European Union has implemented new restrictive measures is expected to have a severe impact on the euro.
    Attachment 320409
    In general, I think that the best way to make a profit is to open short positions.
    I expect the euro/dollar pair to first make a slight correction to the recently broken resistance level of 1.2112, rebound, and then resume its downward movement towards the targets around the 1.2040 level.

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    2021-01-19   11:32
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    Within intraday trading, the EUR/USD pair is moving upwards to the 1.2130-40 targets. The breakthrough of the 1.2050 level will cancel the uptrend.
    -----------------------
    On the GBP/USD pair, the price is moving upwards on the intraday chart with the targets at 1.3650-60. The breakthrough of the 1.3510 level will cancel the uptrend.
    Technical analysis for EUR/USD and GBP/USD
    On the intraday chart, EUR/USD is ready to move to the upside. This means that the price direction on the H1 time frame may also change. In this case, the target of 1.2130-40 will not be enough. When turning upwards on H1, the pair may face resistance at 1.2170-80. It may well happen today and will mostly depend on the start of the New York session.
    Both GBP/USD and EUR/USD tend to head for the targets at 1.3550 and 1.2070-80 respectively. These are the levels from which I hope to see the continuation of the uptrend. Very often, the price breaks through these levels and then returns to test them again. Lets see how it goes today. In the meantime, we have a buy signal on the intraday chart. Lets wait for the European session as the Asian trade is over for today.

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    2021-01-18   11:42
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    The intraday target is 1.2040. Of course, the price may go below this level, but only to reach the stop-loss orders of buyers. In the meantime, I expect the quotes to trade in a sideways range of 1.2040-1.2130.
    If bulls can push the price up so that it can break through the level of 1.2090 and consolidate above it, the euro/dollar pair will have every chance to test the resistance levels of 1.2130 and 1.217. Then it is likely to fall to the support level of 1.2040.
    My trading plan is as follows:
    1. I expect the price to pull back to the resistance levels of 1.2130 and 1.2170 before the American session, despite the day off in the United States.
    2. After testing one of the resistance levels, the price is likely to continue its deep correction up to the support level of 1.2040.

    3. Further, I expect the pair's movement according to the levels.
    If the euro/dollar pair breaks through the support level of 1.2040 and consolidates below it, the quotes will have every chance to continue their correction up to the 1.1900 marks. However, this correction will be accompanied by zigzags as sellers need to sell the pair more profitably.

    Thus, I am waiting for a pullback to the resistance levels, after which I am going to sell the pair with a view to reaching the target level of 1.2040. In case the price first tests the lower level, I will have to buy the pair.
    In case the price breaks through the 1.2100 level, the pullback will be confirmed, but the quotes will hardly be able to make a significant upward movement. The downtrend will be canceled if the price breaks through the level of 1.2180.

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    2021-01-19   11:16
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    Seasonality is currently in favor of the US dollar. Holidays usually "strengthen" the currency in the country of celebration. However, there is a different aspect of monetary policy. Usually, US monetary policy changes dramatically, when the new government comes to power. Under the Democrats in the White House, the US dollar gains in value, while under the Republicans in the White House, the greenback loses ground. And this has been the case for the past 30 years. I believe in scientific laws. Therefore, this pattern will hardly cease when Biden takes office. Besides, he has already chosen a finance minister, a person who prefers a strong dollar. Moreover, he has already announced that he will not continue the policy carried out under Trump that could weaken the national currency. On the eve of his speech in the Senate, I cannot say for sure that the US dollar will fall and the euro will rise. Nevertheless, he promises to be impartial concerning monetary policy. In my opinion, buying euros before his speech is too risky.

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    Greeting to all our traders and speculators who are here in the forum!

    Heres the chart for the euro/dollar currency pair:

    Looking at the chart below, it can be clearly seen that the EUR/USD currency pair is currently located at the resistance level of 1.1175 and not on the resistance level of 1.1185. Now, the price is moving upwards and it will not be hard for it to increase further. Therefore, it is also possible to attempt to do buy transactions with a stop of 15-20 points and a profit of 35-40 points from the current prices. That is, you should enter the market from the level of 1.1135 and develop where you can earn your profit.

    Alternatively, it is recommended to avoid any transactions in case of a sharp decline in prices or stop closing of prices, since the quotes of the euro/dollar pair will move downwards and decline to the trend line from which then new forecasts should be made to further decline the pair on the price chart. Nevertheless, you can earn profit from this until the purchases of the pair are important.

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    Good morning, friends.

    The market fixed above the price volumes and moving averages. It is now trading at 1.1140, with buyers holding the position. At the same time, past resistance levels have now become support, which is certainly an additional protection for buyers. Since the price of the pair is growing, this means that there are many market participants in purchases, and few volumes in sales. The price in search of sellers is getting higher and higher.

    A downward correction seems unlikely, so I am waiting for a point for sales at the level of 1.1170. Now, the priority is to buy up to 1.1170.

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    I did not take the news into account as they are not setting the movement currently.

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    Hello and good day!

    Although there were very minimal movements on the euro last night, I could say that they were still quite pleasing movements and I still managed to close the purchase before I can finally go to bed. Right now I am expecting another downside pullback, and I will begin to purchase again if we manage to reach at 1110. I am just hoping that the currency pair would perform more interesting today than it did yesterday. However, if the assumption of a downside pullback will falsify then I will have to sit on the fence. Concurrently, I see no proper reason to desire to sell. So far that sums up a plan for this currency pair for today. May we all have a profitable day ahead!

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    Welcome to the forum everyone!

    Yesterday, the euro/dollar currency pair moved upwards from the start and after that, the sellers attempted to take the initiative eventually. But unfortunately, they have insufficient strength to decline under the lows of the day. As a result, the price of the pair headed upwards again while the traffic stopped at the local areas with volumes that buyers did not manage to break through. Today, the price is expected to further move up which is specifically to the price zone with volumes around the level of 1.1175, from which the monthly level of 1.12051 can be reached without difficulty. However, the question is, is it possible for the buyers to move higher and consolidate there?

    Generally, this currency pair has yet to have a particular trend and its strength is still inadequate to move further, and although it is directed upwards, the buyers are not actively rushing for new prices while sellers are not that determined to break through levels either. In addition, there could be many reasons for the downward trend if the pair move back there. Nevertheless, it can be noted that in case that the price increase resumes rather peacefully, then it would be easy for them to move to the monthly level of 1.12051 in just a week and perhaps, a large volume and news background may also be found there. Now, as we observe the chart carefully, it can be seen that everything relies on the breakdown of the monthly level. Therefore, nothing important should be expected from the market until this matter with the monthly level has already been settled. Moreover, its positions are pretty critical and so, it is recommended not to move all over the place and just wait until the situation will be cleared. In turn, it is necessary for the sellers to break through the level of 1.0975 and buyers to the daily level of 1.1294. Now, clearing these situations will determine the direction of the prices.

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    Good morning! I would say that the currency pair is going up slowly but surely. Today, I decided to conduct a technical analysis on the very small timeframes M5 and M15, as we have a support for further growth there. There are two bullish fractals in the first half of the indicator (drawn in blue), and one more on M15. I believe that the screenshots very clearly demonstrate the subsequent price increase. Dont let go but for intra-developers, it is necessary to show the price range that you can use in your trading: the daily pivot is located at 1.1131, while the bearish pivot is at 1.1115. Everything else is directed upwards because we have an upward trend, and the bullish pivots are at 1.1150 and 1.1165. Moreso, in fact, between them is the senior pivot - Monthly at 1.1155. If we do all this stuff, we can say that the two bull fractals, which I talk here every day, will definitely execute the embedded algorithm steps, with averaging trading position. Now, if you measure from the low of the distance traveled, it turns out that the buyers have more than 60 points of profit which is a very good result. With regards to fundamental analysis, there is certainly a need to turn to the economic calendar today. At 14:30 London time, the basic consumer price index (CPI) (m/m) for December, which will affect the dollar, will be released. Meanwhile, there is nothing significant happening for the European currency, but we do have all this before the American trading session, so maybe we'll get a catalyst for the movement of the currency pair. I recommend that we look at the H4 timeframe, where I believe that those who are guided by the price action will find opportunities for a candle combination in the form of a "morning star" of at least a local nature.

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    Hello, dear traders.

    As for the euro/dollar pair, I expect it to go up.

    Its good that I closed part of the sell deals on Friday.

    Today, I consider the range of 1.1170-1.1110 as the main area for trading.

    So, the price will hardly turn around towards the downside today.

    Although if the pair goes below 1.1110, there may be a downtrend. Everything depends on the conditions. For now, this level acts as strong support.

    Name: 1.PNG Views: 523 Size: 46.4 KB

    Today, I expect the pair to first go down and then up until the end of the day.

    The main thing is to define the range. Decisions on deals can be made as things move along.

    I would like to buy from 1.1110 with a short stop loss order below the support area and sell at the levels of 1160-70.

    So, the fact where we will go first makes no difference.

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    According to options, the pair is about to move in a downtrend.

    In addition to a significant outflow of calls, there is an untested lower border.

    And we are close enough to it.

    In this case, an uptrend may be very short.

    In general, if we reach the level of 1060, I will sell.

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    Hello everyone!

    Im giving some thought to the current situation, and to the euro in particular. Today, the euro displays the pattern called mandatory zone + the current liquidity ratio level. However, it is not clear yet, how it will test these levels. Im hoping to see the price grow according to the red pattern. In this case, there will be less untested mandatory zones left.On the other hand, if the price follows the blue pattern, there might be a slight correction and reverse movement to the daily mandatory zone. In general, a short-term trend is quite visible here. Hopefully, there will be some dynamics. I think that the expectations for a mid-term growth might not be met.

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    As for the euro/dollar pair, it is possible to build two bullish Wolfe Wave patterns on the hourly chart. The target for the smaller pattern is the level of 1.1191, while the target for the larger one is at least 1.1260. When the price gets there, the target will be higher. On the daily chart, the stochastics oscillator points to growth and the pair's medium-term pressure is upward. According to the 4-hour chart, the indicators show growth, thereby supporting the pair's intraday upward movement. Therefore, I expect the pair to continue moving in an uptrend today.

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    Yesterday, a bearish Wolfe Wave pattern formed within the day. The pair did not go to the maximum target, but achieved the minimum one, that is, the level of 1.1138. Now the pair is likely to go down in the 5th wave of the Wolfe Wave pattern trying to reach the level of 1.1108. Then I expect the pair to make a reversal and continue its upward movement towards the level of 1.1190, the target for the smaller bullish Wolfe Wave pattern.

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    Hello, dear speculators.

    The euro/dollar pair is trading in an upward trend. The targets are 1.1170, 1.1190, and 1.1240. As we know, the pair's movement is usually sluggish. The movements of 50-100 pips are rather significant for EUR/USD. This fact should be taken into account. In order to assess the situation, we should define the levels which will help us understand what to do next. The first level is 1.1112, which is likely to cancel the pair's intraday upward movement.

    In the meantime, the price is still trading upwards. Nothing has been broken. So it is too early to think about a downtrend.

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    Intraday levels for Tuesday.

    The upper level is 1.1143.

    The lower level is 1.1112.

    Today, these levels will point the way to profit. Yesterday's upper level was 1.1117. The price opened above this level, thereby confirming the uptrend. As a result, the pair went up. However, there is no reversal formation as for the intraday levels. I mean expansions and narrowings

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    Intraday trading.

    The target is 1.1170, the same as yesterday. The breakout of 1.1112 will cancel the upward trend.

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    /USD loses the grip further and probes 1.1100.
    The greenback remains bid and approaches YTD highs.
    US CPI figures disappointed investors in December.
    The now better tone in the dollar is forcing EUR/USD to recede to the area of weekly lows in the 1.1100 neighbourhood.

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