EURUSD Technical Analysis by GetKnowTrading

GetKnowTrading

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The whole week was bearish and only Friday was a small bullish candle.

Bears have overtaken the market and for the last three weeks they are dominating.

I am currently outside of the market until I see a better market constellation.

I am waiting for the price to reach $1.17200 for a bearish move with a price action signal or $1.14748 for bullish move.
 

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After breaking below $1.16187 in the previous week, the price made a small pullback to $1.16187.

That pullback was in the form of a small bullish candle which did not close above.

Bullish move could happen on the $1.14748 level which is a strong support.

At that level the sellers could get out from the market and allow the price to make a pullback up.
EURUSD Daily Forecast 09_10_2021.png
 

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The small support at $1.15462 was strong enough to stop the price from falling down to $1.14748 which is strong support for the price.

The market formed a bullish engulfing candle which shows bulls strength around $1.15462.

The price is now between two levels which showed strong pressure, $1.15462 with bulls and $1.16187 with bears pushing the price in the opposite direction.
EURUSD Daily Forecast 16_10_2021.png
 

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The candles formed from Tuesday to Friday you can see on the chart are all bullish and close price is above this level.

That means the bulls are strong enough to hold the price above.

The currency pair is in the downtrend so being bullish completely is not an option.

For now the price will find resistance on the old resistance at $1.17200 which will now be a confluence of support combined with downtrend channel resistance.
EURUSD Daily Forecast 23_10_2021.png
 

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In the last two weeks the price has returned back close to $1.17200 resistance and formed a strong bearish candle.

The price dropped down to $1.15462 which is current support where the price is holding.

If the price breaks above $1.16187 it will be just a first step to see the price changing to a bullish mode.

Only when the price breaks above $1.17200 then it will be the sign of the bulls.
EURUSD Daily Forecast 06_11_2021.png
 

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After a bullish Pin bar the price returned back close to $1.16187 and from there turned back down and reached $1.14748.

The week ended below $1.14748 which tells me that the support is not strong here.

The first support is around $1.14000 which was support for the price in the past.

The price could stop for a while and make a retrace back to $1.14748 before finding more sellers to continue with the push down.
EURUSD Daily Forecast 13_11_2021.png
 

Glastonburyk

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Hi to all of you.

I would like to share my analysis on EURUSD pair which I like to trade and to analyse. I hope you will like it. Feel free to check it out and leave a comment.

This week price reached $1.16178 level and then make a pullback to $1.16700 – $1.17000 area.

The price did just that and reached uptrend channel support level which is a confluence of horizontal resistance and uptrend support line. From there the price returned back to $1.16178, but since then the price changed from the bearish into the bullish sentiment.

When the price reaches $1.19000 – $1.19300 level we could see the price making a pullback back to $1.18200 before moving further up. The $1.18200 is an uptrend channel support area which will stop the price from falling down to $1.17000.


View attachment 59140
Great post mate very thorough
 

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The price has reached the previous analysis goal and that is $1.13094 support level.

As said last week the $1.13000 is a strong support where the price could bounce back to $1.14000.

The price has moved outside of the downtrend channel and stopped for a while on the $1.13000 level.

If the next Monday closes below current price then $1.11871 is the next stop for the price.
 

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  • EURUSD Daily Forecast 20_11_2021.png
    EURUSD Daily Forecast 20_11_2021.png
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GetKnowTrading

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Video:

This week’s price did not reach the previous analysis predicted level, but the market overview looks like it is preparing to move up.

On Friday we had a small bullish candle whose low price was not below a large bullish candle and that suggests the price has strong support on $1.12650 level.

As the market now looks it seems the price will move higher and reach $1.14000 which is a confluence of resistance.
EURUSD Daily Forecast 11_12_2021.png
 
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