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

Trading Discussion
6144

On yesterday session, the EURUSD fell yet again with a narrow range but close in the middle of the daily range, however the currency pair managed to close below Tuesday’s low, which suggests bearish momentum.

The currency pair is trading below the 10 and the 50-day moving averages both should provide dynamic resistance however is still trading above the 200-day moving averages that should provide dynamic support.

The key levels to watch are: the 10-day moving average at 1.1877 (resistance), the 50-day moving average at 1.1865 (resistance), a daily resistance at 1.1829, other daily resistance at 1.1753, a daily support at 1.1720 and a key level at 1.1684 (support).

6145

EUR/USD found some support at 1.1715 and bounced off from it. That said, the overall move to the downside may not be over. A breakout below 1.1715 could lead to a further drop towards 1.1620, which is the (MA)89 indicator on the daily time-frame.

6146

So the Asian mid was 1745(ish) the 50% fib from the most recent high (at time of US going to sleep) and UK guys waking up was 1748(ish)

Yesterday’s low not broken this morning,

Low this morning at 1720 immediately retraced, next attempt at 1720 again immediately retraced.

Then on the way up 1750 broken with ease (3rd candle), then time to set the buy order … but where?

Hmmm… that’s the glove for the falling dagger.

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6147

Ok, has been pointed out that I cannot count, it was the 4th candle, not the 3rd.

That’s the thing about candles, when I was a child they were brilliant for shining light in the dark.

I kid not, very proud of my early days.

Anyways, point is that these candles are mere increments of time, the price numbers are what is important.

6148

Oh, just thought I’d throw this into the mix for the AI robots.

Have you guys been keeping tabs on the 2000, know that it can be a risk indicator.

Totally off topic so have just sent the robots into a spin :slight_smile:

6149

Hey P, if I may, look at the VIX, it is considered one of the most respected volatility indicators.

The Ever Gazing At The VIX VIPER

6150

EUR/USD pushed higher today and is currently trading slightly below the 1.18 handle, supported by the greenback’s correction.

6151

Aha, Vipe, the fear clock.

Am I right in saying the lower the number the lower the fear (based on S&P).

In a sense the Russell is the opposite, see how it closed since my post, it’s not the greed clock, it’s the optimism clock - with hard money.

The 2000 right now is way out on it’s own, forget the staid 30, the mindful of year 2000 NQ, the catching up 500,

I love those positive mental attitude investors :slight_smile:

6152

;Ok my fellow robots, time to switch off the batteries.

Before we go perhaps we should compute this scenario, it is some pattern that we must learn from.

So how do we compute where price is headed, perhaps we can learn from the left side of the chart.

Or is it possible that we could figure the right side, could we do that, is that what humans call ‘predicting’, completely outside our sphere of thinking - then again we robots do not think, we react.

6153

EUR/USD closed higher yesterday at 1.1786 and this morning is in sideway correction around 1.1780 level. The focus today is on the inflation diffrential.

6154

On yesterday session, the EURUSD initially fell but found enough buying pressure near the Wednesday low to reverse and managed to close near the high of the day, however the currency pair closed within Wednesday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading below the 10 and the 50-day moving averages both should provide dynamic resistance however is still trading above the 200-day moving averages that should provide dynamic support.

The key levels to watch are: the 10-day moving average at 1.1865 (resistance), the 50-day moving average at 1.1864 (resistance), a daily resistance at 1.1829, daily support at 1.1753, another daily support at 1.1720 and a key level at 1.1684 (support).

6155

The Euro recovered a quarter from it lost. Hopefully the week ahead will bring more.

6156

Unless EUR/USD breaks out above 1.2090 next week the wide consolidation will probably continue forming between that resistance and 1.1800.

6157

There are way too many numbers for my brain to compute, a day trader’s first focus is where will he/she make a profit.

So thinking ahead next week good chance he/she will keep those two lines on the chart, then if/when price goes up thru the first the wooohooo

The first yellow line looks obvious now, it was equally obvious this morning.

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Edit: the levels are 1.1830 and 1.1890

6158

EUR/USD gained some upward traction today, although still remains around 100 pips down from Monday’s high.

6159

The single currency recorded an increase against the US dollar on Thursday. The currency pair opened at 1.1744 and the price bounced back from support at 1.1735. After all, the euro ended at 1.1786 and if the mood swings continue, there will probably be a breakthrough in the first resistance at 1.1910.

6160

Couple of days ago I mentioned the signs of a buying, those signs are now visible for all to see over the past 2 days.

Fellow robots, you are now looking upwards - this is the worrying part, easy to be fooled.

Motto is ‘drive with care, slippery road ahead’.

Good trading to everyone week ahead.

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6161

The euro rose against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1818, adding 0.26%. I believe that the support is now located at the level of 1.1717, Wednesday’s low and resistance is likely at 1.1962 - Monday’s high.

6162

Euro continue to trade lower due to Spanish votes, the pair has found support aroung 1.1720/15 zone. Direction of this pair depend on the outcome and UK PMI data.

6163

On the last Friday’s session the EURUSD initially rallied but found enough resistance at 1.1829 to trim some of its gains but managed to close near the high of the day, in addition the currency pair closed above Thursday’s high, which suggests a strong bullish momentum.

The currency pair is trading below the 10 and the 50-day moving averages both should provide dynamic resistance however is still trading above the 200-day moving averages that should provide dynamic support.

The key levels to watch are: the 10-day moving average at 1.1865 (resistance), the 50-day moving average at 1.1864 (resistance), a daily resistance at 1.1829, daily support at 1.1753, another daily support at 1.1720 and a key level at 1.1684 (support).