EURUSD Analysis (ongoing thread)

EURUSD is sitting on a nice daily/weekly support at 1.5500 for me, looking for a pullback and then a strong break through this level to confirm the bearish sentiment will continue.
 
EUR just keeps breaking down lower at the moment its important to keep following trend direction intill we see clear break in structure for a market shift upwards
 
EURUSD after having a strong bearish ride had a pullback and found its resistance around 1.13725. The level produced a bearish engulfing candle, which may drive the price towards the South further. The price may find its next support around 1.11000. The buyers are to wait for the price to produce a strong bullish reversal pattern before going long in the pair.
 
EURUSD - 29/11/2021 - Looking at further downward momentum long term as covid lockdowns hit EUR.

I’m eying the 1.116-1.12 support of 2020 for our next target on long term with maybe a push further up to 1.14 in the short term.

Technically I’m going to be watching how the pair reacts to the long term lower trend line that was pushed through on the 15th for confirmation.

On a bullish note, Scotiabank economists have noted that December seasonal trends are usually bullish for EURUSD and that highs of 1.13-1.14 are possible as the pair appears oversold and historical data suggests strong month for euro.

I’d say that’s pretty accurate and that would not affect the overall downtrend.

Overall I’m bearish long term with ECB lagging behind in monetary policy and bullish as we recover from oversold conditions.

How do you guys feel? More downtrend to come or are we oversold?

#financiallyfreetrader
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EURUSD - 06/12/2021 - We just missed 1.14 that I called last week but overall bullish start to the week was good for gains.

Feels like the chips are stacking up against EUR at the moment with New covid variant fears, Low immunisation uptake and ECB inaction on monetary policy leading the way to macro lower trend.

USD looks much stronger with last weeks lower than expected NFP not touching the pair, DXY looking strong and tapering looking to be sped up this week all making me feel bearish.

We’re currently in consolidation after testing the 1.138 res.

The hit to 1.138 was exactly at the previous lower down trend line which is showing us that this is most likely our new upper support trend line.

Decent place to sell from and I’ll be eying up 1.12 tp with a break above the new upper trend line giving me pause for thought.

Two things to watch out for this week - FED meeting on speeding up tapering and ECB meeting on monetary policy.

How you guys feeling after seeing new res being put in?

#financiallyfreetrader
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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.
 
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