ForexWarrior2020
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Yeah im thinking there could some downside pressure. There is some liquidity to take on DXY too which is a good confluence
EURUSD Analysis (ongoing thread)
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ForexViking
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Hi all, back at it again. Feel free to put in your own ideas.
EURUSD - 09/08/2021 - Looks like we’re set to test 1.17.
Positive US employment data and tepid EUR economic data has pushed EURUSD lower.
The upbeat NFP and the FED saying that the central bank is likely to hit its economic targets by the end of 2021 and start raising rates again in 2023 is giving the USD a clear pathway to economic recovery.
EUR however has been showing weaker economic data leading me to lean towards further sells this week.
Looking to next week we have German and US releasing CPI on Wednesday should definitely be one to look out for.
How do you guys think we’ll react to 1.17? See it going further?
#financiallyfreetrader
EURUSD - 09/08/2021 - Looks like we’re set to test 1.17.
Positive US employment data and tepid EUR economic data has pushed EURUSD lower.
The upbeat NFP and the FED saying that the central bank is likely to hit its economic targets by the end of 2021 and start raising rates again in 2023 is giving the USD a clear pathway to economic recovery.
EUR however has been showing weaker economic data leading me to lean towards further sells this week.
Looking to next week we have German and US releasing CPI on Wednesday should definitely be one to look out for.
How do you guys think we’ll react to 1.17? See it going further?
#financiallyfreetrader
ForexViking
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EURUSD - 16/08/2021 - We came down to test the 1.17 level as predicted.
The retrace was pushed higher on Friday due to the “August Michigan Consumer Sentiment Index, which unexpectedly plunged to 70.2, its lowest in almost a decade.”
There are also bearish USD sentiments flue to the rise in the delta variant in certain states with low vaccination rates.
In general EUR economic data was good but not ground breaking, leading me to look towards a further retest of 1.17.
On Monday the US will publish the NY Empire State Manufacturing Index for August which I’ll be watching closely to set the tone for the week.
Tuesday will be EUR gdp and USD retail sales to watch and will be looking for a stronger retail sales from US approx midday GMT.
Do you guys see us going back down to 1.17? Or are there more gains to be made on EURUSD?
#financiallyfreetrader
The retrace was pushed higher on Friday due to the “August Michigan Consumer Sentiment Index, which unexpectedly plunged to 70.2, its lowest in almost a decade.”
There are also bearish USD sentiments flue to the rise in the delta variant in certain states with low vaccination rates.
In general EUR economic data was good but not ground breaking, leading me to look towards a further retest of 1.17.
On Monday the US will publish the NY Empire State Manufacturing Index for August which I’ll be watching closely to set the tone for the week.
Tuesday will be EUR gdp and USD retail sales to watch and will be looking for a stronger retail sales from US approx midday GMT.
Do you guys see us going back down to 1.17? Or are there more gains to be made on EURUSD?
#financiallyfreetrader
ForexViking
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EURUSD - 28/08/2021 - The EURUSD came down to test and fall under the 1.17 mark as said in my last analysis but now geopolitics and mixed US data is keeping the EURUSD afloat.
The main factor that shot the EURUSD to 1.18 was Powell’s speech about tapering that seemed to dip USD.
We should see some tapering around mid September though he hinted at next weeks job count (NFP) to be one to watch.
The FED will likely begin to withdraw its monetary policy support for the economy before the end of the year.
All in all mixed bag of economic data from all sides as uncertainty of virus still making policy makers cautious.
I’ll be looking for sells this week, along with everyone else, with the NFP being the big boy on Friday.
#financiallyfreetrader
The main factor that shot the EURUSD to 1.18 was Powell’s speech about tapering that seemed to dip USD.
We should see some tapering around mid September though he hinted at next weeks job count (NFP) to be one to watch.
The FED will likely begin to withdraw its monetary policy support for the economy before the end of the year.
All in all mixed bag of economic data from all sides as uncertainty of virus still making policy makers cautious.
I’ll be looking for sells this week, along with everyone else, with the NFP being the big boy on Friday.
#financiallyfreetrader
ForexViking
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EURUSD - 06/09/2021 - Oof! Last weeks poor USD economic data sent the pair up to 1.19.
“Nonfarm Payrolls report added just 235K new jobs, missing the 750K expected”
“The ADP survey added 374K new jobs, well below the 613K expected”
“ISM Manufacturing employment sub-component contracted to 49 from 52.9”
On top of this Powell from the FED has suggested tapering may not happen and that economic recovery may be sluggish in the US.
ECB remains stoic on monitory policy.
This week economic points:
EUR gdp - Monday
So how are you guys fairing? See the USD dropping further?
#financiallyfreetrader
“Nonfarm Payrolls report added just 235K new jobs, missing the 750K expected”
“The ADP survey added 374K new jobs, well below the 613K expected”
“ISM Manufacturing employment sub-component contracted to 49 from 52.9”
On top of this Powell from the FED has suggested tapering may not happen and that economic recovery may be sluggish in the US.
ECB remains stoic on monitory policy.
This week economic points:
EUR gdp - Monday
- USD FED Speeches - Wednesday
- EUR ECB Policies decisions - Thursday
So how are you guys fairing? See the USD dropping further?
#financiallyfreetrader
Glastonburyk
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I’ll be waiting for the retracement to enter. I thought it was going to be the case with the NFP
ForexViking
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EURUSD - 13/09/2021 - The pair retraced back down to 1.18 and keeping bulls in check.
1.19 looks like strong res to play off in the future failing to break for a second peak.
Slow week in the economic Callander with somewhat positives on both sides.
ECB neutral cautious tone helped the pair to slip with no signs of change in policy though they recalibrated their (Pandemic Emergency Purchase Program) and revised it’s target for inflation so going long from here might not be out of the question.
Looking at this week it looks like a lot of retail traders are setting up doge another stab at 1.19 and I’ll be looking to join them.
Do you guys see us in a downtrend or think we’re going to challenge the 1.19 milestone?
#financiallyfreetrader
1.19 looks like strong res to play off in the future failing to break for a second peak.
Slow week in the economic Callander with somewhat positives on both sides.
ECB neutral cautious tone helped the pair to slip with no signs of change in policy though they recalibrated their (Pandemic Emergency Purchase Program) and revised it’s target for inflation so going long from here might not be out of the question.
Looking at this week it looks like a lot of retail traders are setting up doge another stab at 1.19 and I’ll be looking to join them.
Do you guys see us in a downtrend or think we’re going to challenge the 1.19 milestone?
#financiallyfreetrader
ForexWarrior2020
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This is definitely a key area for me if it breaks we could see a sell model really take hold
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