Interesting (and slightly questionable) results from NFP on Friday caused a decent spike on the pair. Nice range to trade into but I am planning a sell once it closes in the imbalance personally.
The price gets caught within 1.01000 to 1.02700. A bullish breakout above 1.02700 may push the price towards the North with good bullish momentum. A bearish breakout at the support may drive the price towards that massive round number (1.000000) again.
The breakout has begun. How high do you think it will travel?
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It’s not going far mate
Right now, I’m super bearish on EURUSD trading pair; now I’m with a sell trade position; I opened this sell trade around 1.014 level & here my TP is 1.001.
Back at parity and snuck below it. It’s loading up for another drop. I’m eyeing 0.87 level as a target the way it’s going and with the socioeconomic sentiment.
I like that level too, it’ll be interesting to see if there are any entry points before then
22/08/2022 - EURUSD weekly analysis.
Coming back down to hit parity, can’t see a turn around anytime soon and downtrend continues to be textbook.
Think the main question is - how far can it fall?
“Retail trader data show67.76% of traders are net-long with the ratio of traders long to short at 2.10 to 1.” In taking the contrarian stance though 1.0 parity is a strong support to break and we may see consolidation building.
This still rings true: Goldman Sachs - “The next 6 months seem likely to be challenging for the Euro area, which is likely to keep EUR/USD close to parity. Our economists now expect the Euro area to be in recession in the second half of this year; spot data are already slowing materially and further production disruptions are likely.”
For me I’m watching the 1.0 support closely and right now holding sells until we hit it, will reassess from there.
How do you think it’s going? Can you see any upside to the pair? 
Amazing that parity has happened twice in such a short TF .
How low can we go
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Really is, can’t believe we’re so close to getting less dollars for euros. No sign of dxy stopping either atm
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Unreal the way parity came round twice and no sign of stopping either
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I wonder how long before that happens and if it will stay there for a while…
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Dollar is dead
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Im still bearish for sure. Its very strong and the DXY chart shows no sign of reversing
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19/09/2022 - EURUSD weekly analysis.
We’re back at parity (1.00122 as of writing) and I remain bearish.
Lower highs and lower lows still at play and we haven’t even hit winter yet which will bring the energy crisis into full swing unless Europe is prepared.
High inflation news from US gave us a little upswing on the charts but nothing to push the pair out of its channel.
I’ve got sells in from around 1.02 (top of the downtrend channel) and keeping them in play until a break of the top channel or more likely a push down to newer lows.
Long term I’m actually starting to think a bit more positive for the EUR, reasons:
- EUR setting a windfall tax to subsidise consumption.
- I’ve been reading that EUR LNG storage may be at 90% capacity (After winter predictions at 20%).
- Ukraine are doing an amazing job at pushing out the invaders, this is going to put Russia on the back foot.
- Russia reported gas supply to China is probably decades away to be built.
All in all I see a global recession hitting but the EUR may claw back at times and we may see major volatility that we saw back in 2008.
Anyone feeling there’s going to be upside? Anyone putting in longs?
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Got to say I tend to agreed, we could well even go beyond parity
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Its looking that way for sure. USD is just so powerful cant see it stopping either until there is more stability in the world
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It’s a very clear and obvious channel. Easy pips
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Yeah I’d agree with that
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So good when it sets up like that, really hasnt be that way for months now lol
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