EURUSD made a long bearish move. Upon finding its support, the pair had a bullish correction. The level of 1.06140 seems to be working as a level of resistance. A bearish reversal candle may make the bear get bearish again.
3 Likes
Id like it to take the recent highs liquidity and then drop, looks good to me. Itll fill an imbalance too
1 Like
1.07850 is the level i would like to see tested and drop from next
2 Likes
One more bite at the liquidity pie resting above that last high before coming down
1 Like
Nice short sell from here
1 Like
The pair has been heading towards the North. It made a significant breakout at 1.06000. The pair has been traded above the level. If the price comes back and produces a bullish reversal candle, the buyers may push the price towards the North further. The price may find its next resistance around 1.10000.
2 Likes
The dixie is definitely in a bit of a retracement at the moment. I had a nice AU trade come in this week. DXY is a great tool to use if not being used already
1 Like
Let’s see what this week’s NFP will cause this time.
2 Likes
Seems another push for DXY but nothing that has changes the momentum of the last few months
1 Like
06/06/2022 - EURUSD weekly analysis.
“Overheating inflation and slowing economic growth are still the main market drivers.” For me I’m still feeling bearish, not much has changed in my outlook of the pair long term.
So I’m going to discuss some macro sentiments I have:
- High inflation: EUR at 7% and USD at 8%. Last time we saw rates like this was before the last financial crisis and we’re currently surpassed that. We’re looking at numbers we haven’t seen since the 80’s.
- Energy crisis: Europe to faze out RUS oil by end of year and other forms of energy in general. Already problems before the Ukraine invasion.
- Stock market: S&P 500 is running above average. Most stocks are probably overvalued. A lot of retail money has come in over the last few years, lots of leverage.
- House prices: To high compared to wages. This is still rattling through my head. 2 years pent up sales from the pandemic is obvious but we’ve been going in this direction for a while. I can only talk about where I live but in the uk people with 5% mortgages and “help to buy” new builds that were sold at higher prices might feel the squeeze as the economy tightens.
- Low wages: Self explanatory, look at any chart. My local town, pub, restaurant, nightclub… these places should be packed after two years of lockdown but no one is out, everyone is worried about money.
- Low unemployment rate: A low unemployment rate isn’t necessarily a good thing. Usually means people are feeling the pinch and scrambling. We’ve seen this before other recessions.
All in all you can probably see where I’m going with this… “Big ba-da boom.” For me the EUR will take the hardest punches due slow economic recovery, war in Ukraine and energy crisis though the U.S. may sneeze first.
What do you guys think? Am I too doom and gloom? 
2 Likes
The pair seems to have found its resistance at 1.07700. Last weekly candle came out as a Doji candle right at that level. The price may get bearish from here and head towards the South again.
1 Like
Red folder news on EUR and USD to end the week could be interersting in shifting the pair
1 Like
I wonder why it’s been a while since I’ve seen this thread! 
Commenting here so I get notified for future posts cause I’ve been trading EURUSD more often again. 
1 Like
Yesterday’s daily candle came out as a bearish engulfing candle. The intraday sellers may find some short opportunities in the pair. As long as the pair remains below of the level of 1.08000, the pair may remain bearish here.
2 Likes
Such a massive move this week. Its definitely gaining more liquidity but that may stop now with the summer break coming in during July
1 Like
13/06/2022 - EURUSD weekly analysis.
We’ve hit against resistance and continue follow downtrend.
FED’s turn this week, will be the one to watch on Wednesday. I’ll be watching for further downtrend.
Despite a hawkish ECB the there’s been to much competition from the more hawkish FED
“Fed bringing benchmark lending rates to 3.78% while the ECB falling short at 1.93%.”
“The US Consumer Price Index soared to a 40-year high of 8.6% in May, ahead of the Fed’s decision.”
“Neither inflation will recede nor growth will pick up anytime soon. Central Banks’ future decisions have been already priced in.” Basically more of the same to come.
All in all I’m on the lookout for news to bump the pair off course but can’t really see it happening.
Will be looking for further moves down to challenge the 1.04.
How you guys seeing it? Any reason to be bullish?
I agree with your view. That channel’s resistance has been driving the price towards the South. The momentum is very strong, which suggests that it may continue its move towards the downside for quite a while.
1 Like
The pair seems to have found its support 1.03600. It had a strong bounce. The pair has been heading towards the North now. The Bull may dominate if the level of 1.07500 is breached. Otherwise, it may get choppy here before finding its next route.
2 Likes
I was only looking at that area last week. Its going to be interesting to see where it goes this week coming. USD is on an interesting course for sure
1 Like
The pair found its resistance at 1.06000. It may drive the price towards the South again. The pair had a strong bounce at 1.03000 earlier. Thus, the level may hold the price as a level of support at least for a while. A breakout below that level may drive the price towards parity.
1 Like