EUR/USD Technical Analysis from a Newbie (need to be confirmed)

The EURUSD keeps dropping for today and stays below the 1.0900 level. Further loses may be expected.

EURUSD fell on yesterday session after breaking below the 50-day moving average and went straight to a Fibonacci retracement (61.8) at 1.0853 and closed near the low of the day. The currency changed phase from recovery to bearish and we might see some consolidation at these levels, although a break below the 1.0853 could trigger another push downward, this time to a daily support at 1.0622.

Plenty of pips for the taking today. First up 50 pips, then back down again. Good day so far :slight_smile:

Iā€™m short at the moment 35 pips inā€¦ waiting for a retrace to add to my position if itā€™s going further down.

Im also short, at 1.08770 so looking a bit long term here, probably a couple of days

We now see almost 24 hours later that EU has finally hit the pivot which was mentioned above. Should EU close back across 1.08586 on the 5m t then I would take a scalp long. Until then allow EU to drop another 1 to 2 daily pivot levels before buying.

I recommend to buy EU after touching a daily pivot and the price bounced 50+ pips since doing so.

EUR/USD tried to break below the support level at 1.0800 today unsuccessfully but we still have the Gross Domestic Product Annualized in the United States of America this friday.

EUR/USD did almost reach 1.0800 before it bounced off the support at 1.0820. Itā€™s currently testing the resistance at 1.0900 and if it breaks above that level it might reach 1.0930.

The downward trend is still in the process of development, reconstruction after the recent test above 1.0850 at this stage is corrective. Critical zone remains 1.0960 and immediate support is 1.0784.

EUR/USD dropped to test the support level 1.0810 and rebounded quickly I keep a short under 1.0810 but I doubt it will open.

EUR / USD continued its decline on Tuesday and managed to reach the territory of our support 1.0865.
The prospects for the short term, remain negative.
Short-term oscillators, give an alert for a possible corrective move that may exist before the continuation of the downward movement.

As Greece works draft deal triggered Eur/Usdā€™s strong comeback up above 1.0900 level, next resistance can be found at 1.0930, on the downside we have psychological level of 1.0800.

The EURUSD initially fell on yesterday session but found enough buying pressure just below the Fibonacci retracement (61.8) at 1.0853 to turn around and close in the green near the open of the day. Also the Scholastic is an oversold market so we may expect a pause in the downward trend and a retest of the 50-day moving average at 1.0986.

The pair broke the three-day series of losses on Wednesday after the euro rose by almost 30 pips to a closing price of 1.0903. The session was not lack of volatility and extreme values were recorded respectively at 1.0928 and 1.0819. The outlook in the short term remains negative, the levels of yesterdayā€™s bottom appear to be immediate target.


Ok letā€™s take a buy of EU right now at 1.0894. SL is a close under the fib level which says +11.8 beta on the 5M. Take profit is the R1 daily. I am risking .05% of my account PER PIP!


Touch of the stop loss but no close as stated in rules of entry.


You can see that profit on the buy is now more then 40 pips. :slight_smile:

EUR/USD broke above the resistance at 1.0900 and is currently headed for the resistance level at 1.0950. Should it break above that level it will likely reach 1.0980.

The EUR/USD moved today between two levels 1.0853 support and 1.0950 resistance in the 4H chart , waiting to break one of them to know the next target.