EURUSD Technical Analysis by GetKnowTrading

[ScottHughes]

I more interested in trading around 1.1 so will ride anything down to that level once it starts going

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

Strong bearish candles last week was a sign of bears strength and that has been confirmed on Monday.
The price has fallen down to $1.21500 which was a sign that the price will move down and by end of the week the price reached $1.20800.

$1.20800 is a support level that held the price from falling down in the strong bullish move in December 2020.

We will see the price bouncing up from this level.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

Last week I pointed out the price could reach $1.20800 level and bounce back to $1.21793.

The price reached $1.20800 and bounced on Monday back up.

For the next week I am waiting for the price to make a move.

If the price closes on a daily basis above $1.21793 I am expecting to reach $1.22700 level where it could find resistance.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

This week the price has made a bounce down to the first support at $1.20800.
The price took three days to reach the support which means bulls were strong enough to hold the price on the upper side.

In the next week I am expecting the price to break out fromt this small range.
If that happens and the price closes above $1.21793 on a daily basis the price will move towards the $1.22845 level.

 

[GetKnowTrading]

EURUSD Forecast – Price Found Its Way Down - Looking to Reach $1.19000 - Get Know Trading

EURUSD Forecast – Price Found Its Way Down - Looking to Reach $1.19000

getknowtrading.com

The market has changed its direction and price managed to break below uptrend channel.
The price has broken even below first support $1.20000 which did not show too much strength.

The price could find resistance at the confluence of resistance around $1.20800.

From there the price could move down to $1.20000 to try breaking again down.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

The price managed to return back into area between $1.20800 and $1.21793 leves.

It is an area where the price has been around since December.

In the next week I will wait for the price to define where it will move for the next few weeks.

If the price close above $1.21793 level I will look for bullish signals on retrace.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

This week has shown indecision in the market where the first few days the price did not show clean direction.

With the support of bullish traders the price has changed the direction and ended the week above $1.20800.

If the price could close above the $1.21280 price it would mean the buyers have succeeded to break above the wall that is preventing the price from moving up.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

The price has managed to break higher this week, but the break was short lasting.
In the previous week analysis I have said that if the price manages to break above $1.21280 we could see it moving higher

What I am looking now is for a bullish price action signal on the $1.20800 support level that will prevent the price from moving down and which will make a base for future move up.

Strong selling pressure on the $1.21793 level shows me that it is an area where bears are not allowing the price easily to break above.

 

[GetKnowTrading]

EURUSD Forecast – $1.19000 Is the Key Support - Get Know Trading

EURUSD Forecast – $1.19000 Is the Key Support

getknowtrading.com

We can see the price has reached $1.20000 on Tuesday and made a retrace which was just bears getting out and cashing profits.

The price could find a support at $1.19000 level which will allow the price to move up.

Current market formation does not look so bullish so I am more inclined to sell the pair on the retrace at around $1.20800 and $1.20000.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

getknowtrading.com

The pair is in the indecision area because strong support $1.19000 has held the price from moving below and $1.20000 has held the price from moving up.

If the price comes back again to $1.20000 and makes a bearish price action signal it will be a sign the price will move down below $1.19000 support.

That will open the road to $1.17000 which is the lower end of the previous range area from the end of the last year.