The single currency continued to decline against the US dollar on Wednesday. The currency pair opened at 1.1864 and ended at 1.1850. The single currency in the early hours reached the support level at 1.1825, after which the price recovered positions and reached a peak of 1.1896. If the euro turns the resistance break at 1.1911, we can expect a 1.2055 test.
EUR/USD
Key levels to watch for:
Support: 1.1875; 1.1825;
Resistance: 1.1911; 1.2055;
The euro/dollar was indecisive yesterday. The signals are neutral for now. The price is in a range of 75 pips between 1.1895 and 1.820, suggesting a consolidation phase. A clear break above 1.1895 could lead to future test bulls testing at 1.1935/50, but I stay in the bear camp at this stage and any upward pressure should be seen as a good sales opportunity. On the downside, a clear break below 1.1820 will clear the way to 1.1750.
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I got that free 31 pips. on the short. WOOT
Hi @Makarov i will place an order based on your chart analysis. As for now i’m stay away from the market.
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Tough week for trading, it seems the euro is looking up now.
Hi @arigoldman! Can you please be more specific on your chart reviews? That would be super helpful. TIA!
The euro lost positions against the dollar on Tuesday. The single currency collapsed for a second consecutive session, resulting in the support at 1.1821 being broken. If the bullish sentiment continues, the pair will test the level at 1.1797. Trading started at 1.1926 and the euro fell with 89 pips to the final. The trend was negative for most of the time, as the bottom of the day was hit at 1.1819.
EUR/USD
Key levels to watch for:
Support: 1.1821; 1.1797;
Resistance: 1.1979; 1.2002;
The euro / dollar made a strong downward movement yesterday, reaching a bottom at 1.1820. From the perspective of the daily timeframe, this fact not only gives further confirmation of the scenario on the downward pin bar (since Monday), but also keeps the scenario of the bearish triangle in place. My downward pattern is reactivated now. Signals remain bearish for testing 1.1735. Intrader resistance is seen around 1.1875. A clear break above this level may send the price to a neutral trading area, but while it holds below 1.1920, any bullish pressure can be seen as a good sales opportunity.
The euro / dollar was indecisive yesterday. Trade signals remain neutral in the near future. I’m bearish, but I need a clear breakthrough at least under the support line trend around 1.1785 to rebuild the bears test phase at 1.1735/00. Resistance for the day we have at 1.1837, whose breakthrough can cause further upward correction. But while the couple remains below 1.1920, I prefer the bearish scenario. And any bullish pressure can now be seen as a good sales opportunity.
EUR/USD seems a good long opportunity at 1.1750.
Amazing drop on the EURUSD, the breakdown below the 1.1800 level could take the pair to the 1.1700 level.
The EURUSD may be finally starting to correct to the upside. Today’s price action is showing us that the pair first drops near the 1.1700 level and then starts to pull back, leaving behind a long lower shadow on the daily candle. The EURUSD has formed what it appears to be a hammer and it could be signaling a coming correction.
Price is at trend line and Fibonacci 38.2 level which shows possible support.
RSI indicators is also oversold which seller are ready to take profit.
Buy at 1.17800 is good and the stop is 1.1300 as well the profit = 1.2400.
Check out plan with chart at my blog:
The EUR/USD has been depreciating steadily for the past few weeks. I think the FOMC meeting will turn out bullish for the US dollar.
EUR/USD
Key levels to watch for:
Support: 1.1720;
Resistance: 1.1920; 1.2070; 1.2260;
At the auction in Europe on Thursday, the focus of market participants was the British pound. It strengthened against the dollar and the euro after strong data on retail sales in the UK.
Market participants reacted by buying the pound, counting on the fact that the data will increase the likelihood of an raise in the basic interest rates by the Bank of England in the near future. The price jumped by 60 points, to 1.3421.
The euro fell against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1650, losing 0.59%. I believe that support is now at 1.1646, the low of Friday’s trading, and resistance is likely at 1.1829 - Tuesday’s high.
EURUSD Elliott Wave View: Bounces Are Expected To Fail
EURUSD short-term Elliott wave view suggests that the decline from ( 1.1996 ) 5/14/2018 peak is unfolding as ending diagonal structure in Intermediate wave (5) lower as mentioned in the previous post here. The internals of each of leg in ending diagonal structure is the combination of a 3 waves corrective structure i.e the internal of wave 1, 2, 3, 4 & 5 unfolds as double three, zigzag etc. Ending Diagonal usually appears in the sub-division of the wave 5 of impulse or wave C of Zigzag or Flat.
Down from 1.1996 high, the decline to 1.1715 low ended Minor wave 1 lower. Then the bounce to 1.183 high ended Minor wave 2 bounce as double three structure. Below from there, Minor wave 3 remains in progress as Elliott wave double three structure where internal Minute wave ((w)) of 3 ended at 1.1644. The bounce to 1.173 at yesterday’s high ended Minute wave ((x)) of 3. Near-term focus remains towards 1.1544-1.1500, which is 100%-123.6% Fibonacci extension area of Minute ((w))-((x)) to end the Minute wave ((y)) of 3. Afterwards, the pair is expected to do a bounce in Minor wave 4 which should then fail below 1.1833 high in 3, 7 or 11 swings for more downside. We don’t like buying it the pair.
EURUSD 1 Hour Elliott Wave Chart
EURUSD Elliott Wave View: Bounces Are Expected To Fail