Hello guys, here are my technical analysis on Eur/Usd. The price steadily go upside since yesterday after the big drop, the main trend is still bearish but now the price is making retracement. It already break the trendline and the price may go find previous high. After it reach it then the price may fall again continue with the big trend.
The EURUSD pair trades with clear positivity to move above 1.1065 level, which urges caution from the upcoming trading, as holding above this level hints the price head to regain the main bullish track and stop the negative effect of the double top pattern mentioned this morning.
Until now, the bearish trend scenario still valid unless breaching 1.1105 level and holding above it, reminding you that our main waited targets begin at 1.0995 followed by 1.0950.
The expected trading range for today is between 1.0950 support and 1.1120 resistance.
EUR / USD traded yesterday to continue its downward move but noted that it managed to break the important support at 1.10600, which has bounced from it four times to succeed in breaking it and falling directly to touch your logic demand for the hourly frame located at 1.0570 and 1.1049, where it rose Mubarak after the opening of the London Stock Exchange, which we noted that there were positive German economic data, which pushed the euro to rise against all its pairs, where the price is currently around 1.08830 where it faces an important supply area, and so I expect the pair to fall this time and that towards Demand at 1.10600 and 1.10500 where will form RA And shoulders are expected to turn and then start and rise and the bugs again and target the next levels at 1.11000 and 1.11300 until the specified supply area on the chart, which we will sell them, especially in accordance with the Fibonacci ratio 61.8 and also in terms of wave analysis we find that the pair in the wave b And then we will have to achieve the scenario and then sell the pair again and strongly waiting for the news seriously on the US dollar tomorrow
---------- Post added at 07:48 PM ---------- Previous post was at 06:31 PM ----------
EUR / USD is trading positively to move above 1.1065, which requires attention from the upcoming trading, as stability above this level is an indication of the price trend to restore the bullish path again and stop the negative impact of the bearish pattern mentioned in the morning.
So far, the bearish scenario will remain intact unless 1.1105 is breached and hold above it, noting that our key targets start at 1.0995 then 1.0950.
Expected trading range for today is between 1.0950 support and 1.1120 resistance
Hereís the chart for the euro/dollar currency pair:
For the fourth quarter of 2019, the euro entered the market in a volatile manner in opposition with several main currency pairs. Midway of the third quarter this year, the euro hut new annual lows contrary to the Japanese yen as well as the US dollar thanks to the swirling issues surrounding European Central Bankís monetary policy, US-China trade war, and Brexitís uncertainty. Ever since, the euro has gained an impulse although, it is still does not benefit the US dollar, making it not as interesting to hedge.
Moreover, the euro was also greatly overbought with long-term bonds, which was held outside the index, despite the latest efforts of the ECB to unfold its bond purchases, as well as increase in the inflation index to 0.6% from 0.5% from the third quarter of 2019. At the same time, the risk of a further increase in the share of inflation continues.
Hi guys, yesterday predict the eurusd is still in bearish but it didn't manage go to the previous high. As for it, I still predict the trend is still in bearish mode and the fall could happen any time. There is no buy pressure seen so I assume the big boys are ready to Sell big position.
The EUR/USD currency pair continues to go forth on a downward trend which indicates that the H1 timeframeís average movement stays in a short direction given that it is steadily above the price. Shown in the chart is the zigzag form of the structure whereas the descending zone is an indication of a reduction of significant extrema. Meanwhile, it would be reasonable enough to give a thought of an initial goal of income at around 1.1010 price level, followed by a goal of 1.0970 and then a stop-loss at around 1.1080, coming from the price level of 1.1050. Also, after the pair consolidates to the price level of 1.1110 only then will the purchasing be possible and when the purchases reach the level of 1.1150 and then ends in the area of 1.1080, donít forget and never hesitate to accept a profit fo it.
EUR/USd pair confirmed breaking 1.1070 level after closing the daily candlestick below it, to activate the negative effect of the double top pattern that its signs appear on the chart, waiting for more decline in the upcoming sessions, as our main targets located at 1.0990 followed by 1.0950.
First, I am going to open short deals, and then long ones.
General review on the EUR/USD pair
The correction from the upward movement to the downward one is continuing. Today is Friday, and there may be some changes. I mean a pullback from the downside to upside. Now let's consider the levels at which the downtrend may be broken.
Within the day, in order to break the downtrend, we need to touch 1.1091. Once we achieve the level of 1.1091, the downtrend for today will be completed. While the price is below 1.1091, the downtrend remains the priority. On H1, there will be a reversal when we reach 1.1080. This will confirm the uptrend. After that, as usual, I expect a pullback down and then up. We may pull back up to 1.1050-40. Well, now it is necessary to follow the situation on M15 and M30. So far, they are just preparing for an upward movement. But since there is no upward wave yet, there is no pressure on the upside.
According to my calculations, there will be a rebound at the level of about 1.1010.
Intraday levels for Friday.
The upper level is 1.1091.
The lower level is 1.1036.
According to the intraday levels, the upper targets are far from being achieved. Today, we can only prepare the ground for an upward trend. This means that we will create pressure on the upside and try to turn around the intraday indicator.
Now a few words about the euro. We see no mandatory zone here, and this means that the price can either continue to move downwards or can face a reversal trend. The daily balance serves as a support level. Today the support level has shifted to 1005 mark and in the beginning of the week I expected the price to drop at this point.
The upper boundary of the option channel is set at 1067 from where the price can move to accumulation zone. From this point Iím planning to start selling since the range of 1018-1010 serves as a main support level and 50 pips in this case is quite a lot.
During yesterdayís trade, active sales were made at the level of 1060, but the buyers were disappointed later. Now the price is facing a correctional move to the level of 1036. So, I think we should wait till it goes back to 1060 and continue to sell from there.
As for the global indicator, the price has broken through the mid-level making a strong pullback afterwards. Now, the target is at 1005. If the price holds steady, we can talk about the end of the downward trend. After that, a new surge to the 12th figure, or even higher, is possible. It is still too early to tell exactly.
Forex Forum mt5.com – Introduction.
Forex market is high-yield and risky
mean of taking profit by operations with the currency rates. Instruments
of work at Forex market in many ways determine the result of currency
trading made by Forex market participants – brokersí clients. Every
Forex broker offers its own terminal, however the most part of brokers
and traders concur in choosing MetaTrader 4 and MetaTrader 5 terminals.
This forum is created for those who prefer the terminal of MetaTrader
series in trading on Forex.
Forex Forum mt5.com – trade discussion.
Forex market forecasts, independent
opinions of novice traders and experts of the currency market – all
this you will find at the Forex-forum of trades discussion. Solid experience
of work on Forex is preferable, but all comers including Forex-newbies
may come and share their opinion as well. Mutual help and dialog –
the main goal of communication at Forex-forum, devoted to trading.
Forex Forum mt5.com – dialog with
brokers and traders (about brokers).
If you have negative or positive experience
of work with Forex broker – share it at Forex Forum, related to the
questions of Forex service quality. You can leave a comment about your
broker telling about advantages or drawbacks of work at Forex with it.
The aggregate tradersí reviews of brokers constitute a rating. In
this rating you can see the leaders and outsiders of the Forex services
Free discussions at the Forex Forum
You are a trader and want to relax?
Then Forex Forum for free discussions is for you. There are no doubts
that conversation on subjects close to Forex market is preferential.
Here you will find jokes about traders, caricature of Forex brokers
and full-rate Forex off top.
Bonuses for communication at Forex
This forum is created by traders for
traders and is meant for deriving of profit. However, each post at the
Forex forum gives its author a forex bonus, which can be used in Forex trading
at the account opened with one of the forumís sponsors. This small
gift is presented with the aim to reward professional traders for spent
time at our forum.
We appreciate your choice of Forex
forum mt5.com as a platform for communication.