EURUSD Analysis (ongoing thread)

[ForexViking]

EURUSD - 28/03/2022 - With turmoil at Europe’s doorstep the EURUSD continues downwards towards a stronger dollar.

The slow economic recovery in Europe is stopping the ECB from tightening monetary policy.

This on top of risk adverse markets has me on the sells.

“hawkish Fed rhetoric, and the knock-on move higher in US Treasury bond yields, continue to apply downward pressure on EURUSD” - an apt assessment and along with USD safe haven status leads me to believe the dollar may pump across the board.

Euro Zone inflation data this week will continue to keep the pressure on - “German headline inflation is expected to rise to 6.1% next week, from 5.1% in February, a level that was last seen in the early 1990s.”

All in all I’m still on the sells and we may drop further now we’re under 1.10.

There’s always a chance the markets could change as we’re in risky times though the majority of the risk is upon Europe’s shoulders.

All eyes on German inflation data.

What do you guys think? Do you see any upwards movement?

 

[TareqS]

The pair has been bearish. It has been heading towards the last swing low. I assume a bullish reversal pattern may attract the buyers to go long for a while. However, overall the pair is bearish.

 

[sam.peters]

EURUSD - 28/03/2022 - With turmoil at Europe’s doorstep the EURUSD continues downwards towards a stronger dollar.

The slow economic recovery in Europe is stopping the ECB from tightening monetary policy.

This on top of risk adverse markets has me on the sells.

“hawkish Fed rhetoric, and the knock-on move higher in US Treasury bond yields, continue to apply downward pressure on EURUSD” - an apt assessment and along with USD safe haven status leads me to believe the dollar may pump across the board.

Euro Zone inflation data this week will continue to keep the pressure on - “German headline inflation is expected to rise to 6.1% next week, from 5.1% in February, a level that was last seen in the early 1990s.”

All in all I’m still on the sells and we may drop further now we’re under 1.10.

There’s always a chance the markets could change as we’re in risky times though the majority of the risk is upon Europe’s shoulders.

All eyes on German inflation data.

What do you guys think? Do you see any upwards movement?View attachment 75375

Solid Insight Viking.
I'm avoiding EUR pairs for the moment just with all the tension looming around the ongoing war.
I'm a sucker for missing vital news pieces and getting side swept by something I didn't see.
Appreciate you sharing

 

[Glastonburyk]

I agree, some good trades to come off of this drop. I am planning my entry soon.

Everyone is thinking the same way mate

 

[momo3HC]

Like Ive expected it - a lot of big moves in both sides as its a lot of US news this week. Glad that I`ve skipped this pair this week.

 

[ForexTus]

Like Ive expected it - a lot of big moves in both sides as its a lot of US news this week. Glad that I`ve skipped this pair this week.

Me too, I sat on my hands a lot this week. Can be hard but happy I did it

 

[ForexViking]

11/04/2022 - EURUSD weekly analysis.

The pair appears oversold but may be further to go to hit main support.

ECB was positive on EUR this week but any gains from news was short lived.

Fedspeak propped the dollar up with “St Louis Fed President James Bullard argued on Thursday that they would need to lift the policy rate toward 3.5% this year to tame inflation.”

“Atlanta Fed President Raphael Bostic and Chicago Fed President Charles Evans both reiterated that it would be appropriate to move the policy to a neutral level by the end of the year.”

1.08-1.075 looks like a strong place of support on the downtrend line but could obviously hold here.

Once support is established I’d look for a retrace and for longs up to upper downtrend lines.

1.12-1.115 looks like a strong place for resistance into the week after next.

All in all Monday I will be looking for resistance and then eying longs with overall downtrend in mind, can’t see a plunge (established) below 1.075 unless ECB interest rate decision on Wednesday is a shocker.

Things to look out for:
- First round of the French presidential election.
- ECB will deliver their interest rate decision which is not expected to reveal a surprise rate hike. (Wednesday)

Where do you think we’re going? Are we going through support or following the pattern?

 

[TareqS]

Since the price has been heading towards the South, it may take some time to make a bullish move. The buyers may wait for a double bottom at the last swing low. I assume that the bull is not going to take over soon.

 

[Glastonburyk]

11/04/2022 - EURUSD weekly analysis.

The pair appears oversold but may be further to go to hit main support.

ECB was positive on EUR this week but any gains from news was short lived.

Fedspeak propped the dollar up with “St Louis Fed President James Bullard argued on Thursday that they would need to lift the policy rate toward 3.5% this year to tame inflation.”

“Atlanta Fed President Raphael Bostic and Chicago Fed President Charles Evans both reiterated that it would be appropriate to move the policy to a neutral level by the end of the year.”

1.08-1.075 looks like a strong place of support on the downtrend line but could obviously hold here.

Once support is established I’d look for a retrace and for longs up to upper downtrend lines.

1.12-1.115 looks like a strong place for resistance into the week after next.

All in all Monday I will be looking for resistance and then eying longs with overall downtrend in mind, can’t see a plunge (established) below 1.075 unless ECB interest rate decision on Wednesday is a shocker.

Things to look out for:
- First round of the French presidential election.
- ECB will deliver their interest rate decision which is not expected to reveal a surprise rate hike. (Wednesday)

Where do you think we’re going? Are we going through support or following the pattern?
View attachment 75828

Not ready to turn yet

 

[TareqS]

Yesterday's candle closed as a bullish engulfing candle. Today's price action in the intraday charts have been bullish as well. It is a sign that the pair may end up producing a Double Bottom at the support zone.