EURUSD Analysis (ongoing thread)

TareqS

Sergeant
Messages
126
The price may remain bearish until the median line gets broken. It may make another bearish move and find its support at the channel's support. The buyers may go long from the support zone and push the price towards the North. Let us wait and watch what happens.
 

ForexViking

Recruit
Messages
144
EURUSD - 13/12/2021 - Missed my target of 1.12 on the sells but still looking like solid downward momentum after hitting the new upper trend line at 1.135.

Anyone who saw the retest should have had a nice little scalp.

Still the same story as last week really:
  • covid surge in Europe bringing lockdowns for Christmas.
  • FED and BOE looking at policy tightening as ECB wants to ride out inflation.
  • Russian troops at Ukrainian border.
  • Nord Stream looking to be scrapped thus raising questions about Europe’s energy security.
Moving forward I’ll be watching the central banks monitory policy meeting on Wednesday with ECB meetings on Thursday being another one to gauge the markets.

All in all I’ll probably be going off the technicals and looking for sells with a 1.18 goal.

If we test the uptrend line again and we break through will have to reassess and wait for res to be found.

How you guys feeling about the new upper trend line? Anyone got any bullish ideas? :)

59314B4E-FC96-45A6-9286-AF5A3B3FD261.jpeg
 

Treacle

Private, 1st Class
Messages
103
It's a waiting game, but as soon as omicron is deemed not as worrying as they thought then we'll be heading back up again
 

sebking1986

Private
Messages
449
Very dense news week for this pair again with releases that could help to drive price direction for the rest of the month and into the new year. Going to tread very carefully.
 

TareqS

Sergeant
Messages
126
EURUSD got caught within a box. The price seems to have found its support, which may push the price towards the North if it makes a bullish breakout at the box's resistance. A breakout at the support may drive the price towards the South on the other hand.
 

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ForexViking

Recruit
Messages
144
10/01/2022 - EURUSD weekly analysis.

Well here we are crabbing it slightly to the upside.

Technically we look like we may be gearing up for a break down from a wedge pattern with 1.135-1.136 being strong res.

I can’t see us breaking this week but sells from the said res may be profitable and setup for a break out to the lower side.

On the fundamental front:

- FED looking to tighten tapering due to inflation.
- ECB being conservative on monetary policy even though rising inflation.
- Covid continues to slow down economic recovery.

If we were to think bullish we would have to see the 1.136 res broken and settled above for me to buy but with how nonplussed markets were on the low NFP data I can see a continuation to the downside for now.

How do you guys think this is playing out? Any reasons to be bullish?
90FBE8B9-3CCC-4E4A-99E7-9674B146E554.jpeg
 

TareqS

Sergeant
Messages
126
10/01/2022 - EURUSD weekly analysis.

Well here we are crabbing it slightly to the upside.

Technically we look like we may be gearing up for a break down from a wedge pattern with 1.135-1.136 being strong res.

I can’t see us breaking this week but sells from the said res may be profitable and setup for a break out to the lower side.

On the fundamental front:

- FED looking to tighten tapering due to inflation.
- ECB being conservative on monetary policy even though rising inflation.
- Covid continues to slow down economic recovery.

If we were to think bullish we would have to see the 1.136 res broken and settled above for me to buy but with how nonplussed markets were on the low NFP data I can see a continuation to the downside for now.

How do you guys think this is playing out? Any reasons to be bullish?View attachment 72627
Technically, it looks bullish to me. The down trending trend line may work as a level of resistance. However, it allows the price enough space to move towards the North. The up trending trendline has been working as a Double Bottom support here.
 
Messages
288
Technically, it looks bullish to me. The down trending trend line may work as a level of resistance. However, it allows the price enough space to move towards the North. The up trending trendline has been working as a Double Bottom support here.

Agree I think there is more room to move up. Liquidity will come flooding back into the market in the next few weeks so will see some movement I think
 
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