EURUSD Analysis (ongoing thread)

[Stoic]

if it falls below 0.97, then the gravity level of 0.9535 will work...

 

[TareqS]

The pair started this week with an adjustment. It has been bullish today. As of writing, the pair is traded above 1.00000. If the pair closes its daily candle above the level, it may get bullish for a while.

 

[ForexTus]

The pair started this week with an adjustment. It has been bullish today. As of writing, the pair is traded above 1.00000. If the pair closes its daily candle above the level, it may get bullish for a while.

Im looking at it closely too, parity is massively psychological so will like to see if it stays above

 

[TareqS]

The pair made a strong bullish breakout at 1.00000. It has been traded above the level as of writing. It had a bearish correction as well. It looks good for the buyers now.

 

[TareqS]

Looks very good for the buyers after a long time. The H4 chart suggests that the price may head towards the North and make a new higher high. I am going to keep an eye to go long in the pair.

 

[sebking1986]

Yes it looks like lower CPI numbers in the US has caused a pivot.

 

[RachelEB]

Wow, finally some upside potential here then to end the yea after so many pips on the short side, has been a great trading pair for me perosnally.

 

[Stoic]

Looks very good for the buyers after a long time. The H4 chart suggests that the price may head towards the North and make a new higher high. I am going to keep an eye to go long in the pair.

yes broke through 1.0200 (23.6%), so are going to the area of 1.0570 (38.2%)

 

[ForexViking]

14/11/2022 - EURUSD weekly analysis.

The dollar is now weakening and we are on the move up.

I’m watching for pullback short term before a further move up an fully looking for further long opportunities.

Reasons for weaker USD?:

• “weaker-than-expected U.S. inflation data”
• “Slowing price pressures may lead the Federal Reserve to adopt a less hawkish stance, prompting policymakers to slow the pace of interest rate hikes as soon as their next meeting’
• “The downward correction in yields could push the dollar lower in the near term”

Reasons for stronger EUR?:

• LNG stores at above 90% capacity and a warmer than average winter predicted.
• ECB gdp prediction is now higher at 3.1% though 0.9% for 2023 given (recession looming)

My general thoughts: if we hit a global recession what we see in the charts would be akin to what we saw in 2008, large monthly moves ripe for trading trends.

For now I’m waiting for retest of new upward channel bottom then putting in further longs.

Can you see an uptrend forming or are we likely to crab it going into Christmas?

 

[TareqS]

The pair has been up trending by following a trend line in the H4 chart. It has been traded above 1.00000 for a while as well. Thus, we can say that the Bull has taken the charge here.