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Thread: EUR/USD

     
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    2021-10-25   09:31
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    Amid continued divergence between the Fed's and ECB's monetary policies, the euro remains under pressure. President of the European Central Bank Christine Lagarde adheres to an ultra-loose monetary policy, while I expect the Fed to tighten its policy.
    Against this background, the euro/dollar pair is trading downwards on the daily chart, thus providing market participants with an opportunity to open short positions.
    Attachment 423981
    According to the H4 chart, I think it will be possible to enter the market when the price breaks through the support level of the flag pattern, below the area of 1.1620-10.

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    2021-10-27   13:49
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    Attachment 424776
    I believe that the main trend of the euro/dollar pair is downward.
    On Monday, the pair managed to get out of the ascending channel downwards.
    According to the 4-hour chart, the quotes seem to be sliding in steps.
    As a rule, such a downward movement is a three-stage process.
    At the moment, I think the pair is preparing for the final stage, and it may be long-lasting.
    The first obstacle to the pairs decline can be the local low of the last week at 1.1571, from which the price may well resume its bullish run. If the price breaks through this mark, the pair will most likely go down to test the support level of 1.1524. I think that it is a bit risky to open long positions when the price hits 1.1550. We can consider long position only in case additional signals appear.
    Today, trading activity will most likely become active only in the American session since the economic calendar for the European session is bereft of any important releases.

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    2021-10-21   11:57
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    Euro/US dollar

    Attachment 422886
    Daily chart
    1 - On the daily chart, the price continues to rise confidently towards the upper Bollinger band after crossing the middle line. The bands, however, are turning inwards and are moving towards each other, thus downplaying the pairs rise. If we stick to this indicator only, then we should wait until the price hits the upper band. In case of the price reversal, the same will be true for the lower band.
    Then, we should monitor the indicator: if both bands turn outwards as soon as the price touches one of them, this will be an indication that the price will continue to move further until it exits the range. If we take fractals, the price is approaching an upper fractal formed on October 19 and the lower on August 20. In case the quote manages to break through these levels and settles there, its next upside target will be at the fractal of September 22. The nearest downside target is at the level of October 18. It is also possible that a lower fractal will form a bit higher.
    2 - The indicator continues to move lower in the negative zone while the price is rising in response to this exhaustion.There are two days left until the end of the trading week. The indicator may simply have no time to cross the zero-line mark. But if it does cross the line and oscillates to the positive zone, this will confirm the continuation of the uptrend for the euro.
    H4 chart

    3 - On the 4-hour chart, the price keeps moving higher towards the upper Bollinger band. Despite a correction, the bands were still generating a signal for growth.
    At the moment, the upper band is pointing outwards, thus confirming a possible rise of the quotes. We have the option to wait for the price to closely approach the upper band or look for entry points on smaller time frames. If we take fractals, the price is approaching the upper fractal of October 19. Its breakout will pave the way towards the fractal of September 29. For selling the pair, it is better to wait until a lower fractal form. Take this into account when planning your strategy.
    4 - The indicator is slowly oscillating in the positive zone on the 4-hour chart by forming a green bar. It is still not enough to be a clear signal for growth. That is why we should wait for more candlesticks on H4 to see how the indicator will behave. If it continues to rise, this can be taken as a signal confirming a further upward movement of the price.

    The attachment
    2021-10-26   10:42
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    Hi, everyone!
    Attachment 424368
    I think that the current decline is just the beginning. I expect the euro/dollar pair to extend losses. In the long term, I suppose that the main target for November will be the level of 1.1400. In the short term, the quotes are likely to test and break through the round level of 1.1600 and then slide to the lower boundary of the four-hour chart at around 1.1597. In case of its breakout, the trend on the four-hour chart will turn downward.
    In the meantime, bears are unable to drag the price down so that it could break through this level. Instead, the price is consolidating above it. At the same time, even in case of weak fundamental news in favor of the US dollar, the pair will still fall to the next target, that is, the support level of 1.1570. The most bulls can count on today is a slight correction to the previous support level (now resistance), near the level of 1.1620. From this mark, the pair is expected to go down again.
    At the moment, additional indicators somewhat contradict each other. Thus, the relative strength index continues to support sellers, while the Stochastic indicator on 4 points to the second possible scenario indicated on the chart.

    The attachment
    2021-10-27   14:12
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    Hi, everyone!

    The euro/dollar pair is still drifting in the range 1.1590 - 1.1660 with slight fluctuations. Yesterday, the pair failed to break through the level of 1.1590 (now 1.1584). According to the daily chart, the most profitable entry point for long positions is 1.1584 and above. The level of 1.1820 is a target. However, there is no need to rush into purchases from the current level. To build a classic strategy when it is possible to make money on long positions, the euro/dollar pair needs to return above 1.1620 by closing the H4 candlestick. In this case, the price on the H4 chart will be in the buy zone, while the price on D1 will still be at the very bottom. Thus, traders will have a chance to buy the pair, hoping that the price will break through the level of 1.1660, advance, and then approach at least 1.1700.

    The attachment
    2021-10-25   12:48
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    The euro/dollar pair is slowly but surely trying to extend gains to reach the round level of 1.1700. As a result, the quotes are moving in a trading range limited by the levels of 1.1600-1.1626 from below and 1.1665-1.1690 from above. While drifting within this range, the price has managed to break through the area of 1.1645-55. If the price consolidates above this zone, the euro/dollar pair will most likely continue trading upwards and hit the next mark at 1.1680-90.
    Notably, I do not expect any impulses but a directional movement to the level of 1.1750. On Friday, the price once again failed to fall below the strong support area of 1.1600-1.1626.
    Now, short positions from the boundary of the range will make it possible to drive the price up. In this case, the pair will have every chance of advancing up to the round level of 1.1700. Since the quotes are currently trading within the range, it is worth keeping in mind the following possible scenarios: in the European session, the price may decline to 1.1626 and then form a false breakout.
    Alternatively, the price may break through and fix below this level. In this case, the euro/dollar pair is expected to extend weakness and slide to the support area of 1.1565-75.

    The attachment
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    EUR USD currency pair i think today go in the upside direction. According to the technical analysis the trend in overall bullish according to the previous high candle close in the EUR USD currency pair. I suggest that know the gold is back on track and the market is bullish. So i suggest we must take the buy opportunity on the EUR USD currency pair from the support level of 1.1600. because when the EUR USD currency pair jump in the bullish direction he must break the level of the 1.1700 easily.

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    EUR/USD traded between 1.1625 and 1.1580 yesterday, which suggests that the pair is likely to be in a flat market again. But if the Euro area releases strong reports, large movements may take place. Otherwise, the market will remain within the range.

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    Forecast for EUR / USD currency pair on October 28, 2021:

    But today the EUR / USD currency pair has already broken through the lower border, and, as can be seen on the daily chart, drew a black downward candle. And here the question arises, is it just a pullback or correction, or maybe a reversal to the south, which is also quite possible, but its too early to talk about it. Although if you look at the wavelike price movements, it is likely that the price will fall even lower. On the four-hour chart, it can be seen that the price has broken through the support level of 1.1600, but has not yet consolidated, although the EUR / USD currency pair has rather impulsive movements without price-fixing.

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    According to the indicator technique on the daily frame, on the one hand, the bottom seems to be worked out, from which you can already get up: and the MACD has now issued a buy signal confirming the global buy signal, and the RSI has worked out the oversold zone quite powerfully, therefore, it will potentially be ready to go to the north. The working space here is between the middle Bollinger band at 1.15800 at 1.16300. You can watch something from these levels.

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    If we stick to technical analysis, EUR / USD currency pair below 1.16250 hints at a deeper downward correction. We will surely overcome the trading support level of 1.15960 and only after that we will continue the upward trend. Only if investors begin to the EUR / USD currency pair, the European currency will go down against the US dollar. While I consider the main range for speculation with the currency 1.16500 - 1.1600. A positive result will bring another downside: jump into the EUR / USD currency pair.

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    Todays Analysis about EUR / USD

    The market had changed aggregate condition because the price failed to hold a previous level of 1.1620 before yesterdays close. The market price is running above the level of 1.1600 right now, which is a support zone. Yesterday, we saw that the price was closed below this level and this scenario gives a selling signal. However, the market makes a bullish movement today but there are still selling chances on this pair because the price could not hold this level 1.1620.

    Daily Market Analysis on EUR / USD:

    If we look at the daily chart below, we can understand that a new bullish candle is appearing. But if we take an analysis of the previous close, the market is giving a bearish signal. Thats why, according to the previous close and sellers pressure, I expected that the price of EUR / USD will fall down today at the UK session later.


    H4 Chart Analysis:

    In the H4 time period, the price is trading above 1.1600 and at support area. However, it creates a bullish engulfing, and I expected that in the H4 time period; the price continues the bullish movement and makes another Bullish Engulfing candlestick later. In addition, if the price failed to hold above 1.1600, then there are more selling chances on this pair.

    Weekly Chart Analysis:

    Both daily and H4 time frames are not giving us a clear market concept right now. So, to understand aggregate market condition we need to take help from the Weekly chart. As I prefer larger time frames because there are more powerful to understand market conditions effectively.

    The overall market scenario of EUR / USD is in the favor of Sellers.

    The weekly chart is giving a bearish concept right now. Therefore, I expected that before the close of the week, the price will come back and touch nearly support area 1.1558 level. Traders should place a sell trade at a higher high level of the day.
    Have a profitable day.
    Name: Eurusd W1.png Views: 6 Size: 50.5 KB
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    On the daily time frame chart analysis, Perhaps the price will indeed still be at 1.1524, but as I wrote yesterday, while the support level of 1.1586 has not been broken, it is too early to say that the sale will continue. Yesterday the price could not push through the level, today it started with an upward movement, so it is likely that the price will grow to 1.1668 and so far it is more realistic, but not today, of course, I doubt that the Euro will give such a movement, earlier I wrote that a large buyer is in the longs, so why shouldnt the price go to the north, it is worth thinking about sales after entering the level, otherwise everything may well change. But everything is so subtle that the price can make a move in both directions. It is difficult to foresee what will happen. There is just a feeling that the price will go up. Lets see if this is so.

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    On the hourly time frame chart analysis, yesterday the price moved sideways, the situation if you look at the market is not clear, we have three flats; the price went out of the two in different directions, and now it will be interesting where the price will leave the third, there is definitely nothing to say, since this is a lottery and the price can go in any direction, I want to go up for the price to come out. Today, they may continue to walk sideways, so it is worth trading after exiting this state, as it will give more potential, or work sideways from the borders. I will assume that the price will go up from the border, why not go further.

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    For the past few days, the EURUSD pair has not been moving much. It has been in the same place. But since yesterday, this pair has been trying to move upwards. As the USD currency is currently weak, this pair could go up today.

    • Analysis according to H1 chart:
    The current candle in the H1 chart is trying to go down, and it is seen that it is making bearish candles after touching its up trend line. If the current candle closes bearish, then the next candles will try to go down, and it will try to go to the level of 1.1590. If today it can go below the level of 1.1590, then this pair will continue to go down. In the current chart, 1.1590 is acting as the support level for this pair. So breaking this support level will make it more vulnerable.

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    • Analysis according to H4 chart:
    As can be seen in the H4 chart, this pair has been hovering between the level of 1.1617 and the level of 1.1585 for the last few days. It is currently trying to make bearish candles. Since it is trying to make a bearish candle from the level of 1.1608, it may go further down and try to go up again after touching the level of 1.1585. However, if it can go below the level of 1.1585, then it will go further down.

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    My Recommendation:

    This pair is currently standing in the ranging zone. It will be very difficult to find the right trend about this pair at the moment. So I think we have to wait longer to open trade in this pair. Since there is a lot of news in USD currency today, I think the right trend can be found from this pair after the news is published today. If this pair goes below the level of 1.1585 today, it would be better to open a sell trade because if it goes below the level of 1.1585, it will become weaker and will try to go further down. On the other hand, if it goes above the level of 1.1617, it may go higher, but for the buy trade, we must wait until it goes above the level of 1.1630.


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    Hello everybody, hope you all are fine and enjoying your trading life and with family and friends. Today I am going to share my analysis on EURUSD.

    EURUSD H1 time frame chart

    We didnt succeed with the decline yesterday, but for now, I am considering the option with the formation of a bullish Wolfe, however; I rebuilt it a bit differently. At the moment, the price is in the 3rd Wolfe wave and I expect that there will still be an upward entry to the level of 1.1625, and from there I expect the pair to turn around and start moving down in the 4th Wolfe wave. The target for the decline is about the level of 1.1550, but the pair may go down to the past minimum. And after this decline, I expect a reversal and growth in the pair.

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    EURUSD H4 time frame chart

    Its worth saying that while everything is pretty boring and nothing really changes for us, and we continue to fight for the 16th figure, so to speak, and in principle, we can move anywhere, especially since the dollar itself is traded in different directions from a larger one. But soon there will be data on the German labor market, and other statistics, and then also the ECB. Although there has been no particular volatility on the ECB lately, you still need to look at how it will be. But for me, still, nothing has changed much, although, as was said, we can move anywhere. The goals in the 1.1670 regions remain and I believe we will get there. If we go to the area of 1.1560, and below, I will still look closely it is to buy.

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    Technical Look
    EUR/USD exchanges mindfully on Thursday the Asian exchanging hour. The pair recuperated from the new lows around the 1.1580 zone. US Treasury yields bounce back despite the lower worldwide stocks. ECB strategy meeting, US GDP, and Initial Jobless Claims hold the vitality this Thursday.

    EUR/USD is marginally firmer on the day, exchanging around the 1.16 figure in the wake of ascending from a low of 1.1548 to a high of 1.1626 after a drop in US yields. The week after week diagram offers a negative inclination at this point, strain beneath the obstruction.

    Concerning the day-by-day graph, the cost is caught between basic help and opposition following a trial of the M-arrangement's neck area.

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    Fundamental Look

    The common money acquired some foothold following Germany's GFK Consumer Confidence, which improved from 0.4 to 0.9 in October, beating market assumptions. Likewise, the EU announced September Money Supply, which expanded by 7.4%, beneath the market agreement.

    Merchants are currently preparing for the European Central Bank (ECB) money-related arrangement choice. The ECB is broadly expected to keep up with its tentative position however policymakers might prepare for a more tight money-related approach.

    The greenback stays consistent at around 93.80, supported by the bounce back in the US T-securities yields. The US Durable Goods Orders fell 0.4% in September, better than the - 1.1% anticipated. The starter gauge of the September Goods Trade Balance posted a shortage of $96.3 billion, bigger than the past $-89.4 billion.

    For now, dealers are hanging tight for the Eurozone Consumer Confidence, ECB Interest Rate Decision, US Gross Domestic Product (GDP), and Initial Jobless Claims to take crisp exchanging force.

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    The EUR/USD pair is trading at 1.1606, slightly above 1.1600, and a 14-day moving average. The pair maintains a downtrend with the price inside the H4 Ichimoku cloud. It signals the pair is not likely to receive an uptrend. Otherwise, if the price goes up there is likely to be a reversal to the downtrend. The arrows on the chart below show the range from which the price may decline from the initial position or after a slight increase to 1.1620. Resistance at 1.1620 is strong enough, proving it by its performance this year. The middle of the triangular moving average also strengthens the resistance today. If bears are aiming at decreasing the pair, they will have to hold bulls below 1.1620. In general, the dollars upwave followed by its acceleration is likely to happen ahead of the Fed meeting. As for the technical indicators, I expect the TMAs lower boundary to break at 1.1580 and the price to decline at 1.1570. After the pair reaches this level, a new middle-term downtrend may start with the first target at 1.1500 and the main target at 1.1400. However, it is likely to happen in the distant future, so we may see a lot of rebounds caused by bulls.

    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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