EUR/USD (part 80)

[CelestineJones03]

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

Here’s 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.

[meowsyub93]

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.



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

[Marzia83]

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!

[Sandy05]

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.

[dboy930309]

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. Don’t 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.

[FxTaylor]

Hello, dear traders.

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

It’s 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.



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.



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.

[crazyprofit]

Hello everyone!

I’m 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. I’m 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.

[Elliot_Trend]

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.



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.

[TraderGeorge]

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.



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



Intraday trading.

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

[Drforex]

/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.