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EURUSD is trading in a narrow range for last 4 days and it may explains the current inability to continue green candles on this pair. From 27th July, after the Brexit bearish run, this pair had pulled back and posted new Monthly highs with more volume coming in simultaneously. But On 2nd August exactly on the current channel Resistance line, it got decline and formed a bearish channel which shows the amount of bearishness in this pair. Currently, again this pair trading around the trend line Res…
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EURUSD is consolidating around fibonacci 38%
EURUSD broke the 1.1200 price action last week but then pulled back strongly to 1.1070 region which is exactly the Fibonacci range of 38 - 50% in 4 HR chart as above. Coincidently, this pair is consolidating now to make sure it doesn't go below 1.1070 region. If the next candle posted a green candle above the current pin bar, then this may help to resume the current bullish channel to move again to the 1.1200 region.
EURUSD week ahead analysis
EURUSD has break above the short term resistance 1.1200 a week before, after the brexit break down. But last week, again it pulled back below 1.1100 and formed consecutive red candles. Currently it is in 38% - 50% of Fibonacci retracement which is critical price action for EURO to regain the bullish momentum if it had to continue the bullish price move from previous weeks. So the price move is badly depends on first 2 days of the coming week where it will show us whether the pullback (according …
EURUSD may post new monthly high
We can use weekly chart as a good tool to identify the short term trend shift. Last week it was coincidental to witness the engulfing green candle along with fundamental weakness on USD because of Fed interest to keep the rate hike on hold. As the current green candle rose just after a bearish trend from 1.15 region to 1.092, it is highly likely that the short term trend shift may happen. It may broke over 1.12 price level directly or it may pullback to 1.1070 and then rise back. In line with th…
EURUSD might pullback as per Fibonacci
EURUSD posed a strong green candle because of bad NFP data from US before 10 days. After that EURO was trying to sustain above 1.133 range. Meanwhile yesterday good employment data from US forced EURUSD to go down below 1.13. Currently the price action is happening around 1.1280 and it is important to watch around this price range and more importantly around 1.1200 - 1.1250, because Fibonacci retracement also suggests it as an important price action. It is important to wait for a engulfing candl…
EURUSD expected to face sell pressure in 1.14200
EURUSD faced a downside risk in last month, but since the US employment data the pair gaining upward strength and this pair might reach the previous near term high 1.16 soon. Still 1.142 region had lot of price action (looking left) and hence this price range might provide a pull back to 1.13. Please find below the daily chart analysis of EURUSD and possible current resistance and support as drawn.
USD facing sell pressure, Yellen speech will play important role
USD started facing lot of sell pressure because of last week NFP, amidst the rate hike words. In this situation, today's yellen speech will play an important role for the investors to sell or buy USD. In relevance to this, chart projects bearish trend and hence the bearish spike of USD might extend again. Please find below the EURUSD daily chart prediction,
EURUSD is in See-Saw facing more sell pressure
EURUSD has formed a mid doji which normally indicates a possibility of price contraction in upcoming days which may result in possible reversal. We may have to wait for another 2 days to confirm it. If the next 2 days price action falls below the support of the doji, then the possibility of reversal is high. Lets wait and watch.
Please find below the daily chart of EURUSD with previous important support line.
Please find below the daily chart of EURUSD with previous important support line.
EURUSD bears are gaining momentum
USD lost the momentum too long and Euro on the other hand survives to gain the lead on EURUSD. But today's Non farm payroll report turned the tables for USD and it seems like the bears are gaining control. Technically 1.14 acted as a Support for multiple times, hence if the current bear momentum continues in ABC pattern then its better time to jump in to sell EUROs.
Please find the daily chart and support price action.
Please find the daily chart and support price action.
EURUSD showing little bearishness
Just when EURUSD touched the 1.0910 region, bulls started having lots of resistance and always trying to bring down to 1.0910. But still bulls are in play, as no strong downward movement found. Hence we can expect an another leap towards upside before taking further decision of moving upside or downside. Please find the chart depiction as below,
1.0950 acts as a critical resistance and 1.0820 acts as a critical support.
1.0950 acts as a critical resistance and 1.0820 acts as a critical support.