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Eurodollar

EUR/USD Reverses Gains as Greenback Strengthens Ahead Key DataEUR/USD Reverses Recent Gains as Greenback Gains Strength Ahead of Key Data Releases After four consecutive daily advances, the EUR/USD has given up some ground at the end of the week. The German docket's disappointing results, combined with renewed buying interest in the greenback, have contributed to the reversal of the recent multi-session upside. Despite this setback, the ECB's expected rate hikes in May are likely to lend support to the pair's upside momentum, especially as there is growing speculation that the Federal Reserve might decide to hold rates at its next gathering. The weekly uptrend in EUR/USD has encountered a formidable barrier around the monthly highs near 1.0930 on Friday. In Germany's domestic calendar, Retail Sales contracted 7.1% in the year to February, while the March jobs report showed the Unemployment Change increased by 16K persons, and the Unemployment Rate ticked higher to 5.6%. Later in the session, flash inflation figures in the euro area will take center stage ahead of ECB Chairwoman C. Lagarde's speech. Meanwhile, in the US, all eyes are on the PCE inflation measurement, Personal Income/Spending, and the final Michigan Consumer Sentiment.
Long
by FOREXN1
14
NY open Volume may take us to next Daily Zone? >1.07995We must first make it Past 1.07825 4Hr/1Hr Zone. Ny Open may provide the catalyst to move up to the next daily zone as we have planned and mentioned in yesterdays publishing. Price is creeping up towards resistance zone at 1.07825 as we transition into the NY Session. This is suspicious and we could breakout to the upside as we have clean traffic on the 1Hr Timeframe up to 1.0833. It is monday and is a good idea to start the week out on a good note and follow your trading plan. If the new 4Hr candle closes above 1.07721 then I like buys more for the session. If not then we may range or go back to lows of our rnage at 1.07425
Long
by ShrewdCatfx
4
EUR/USD -28/03-2023-Suggested Elliott wave analysis • Rule #1: Wave 3 can never be the shortest impulse wave (applies here) • Rule #2: Wave 2 can never go beyond the start of wave 1 (applies here) • Rule #3: Wave 4 never enters the territory of wave 1 (applies here) Wave 2 usually retraces between 50% to 61.8% of wave 1 (applies here and shown) Wave 3 is the longest Wave 4 usually retraces around 38.2% of wave 3 (applies here and shown) If the assumption is correct, we are now in wave 5. This is a very simple and basic Elliott wave drawing, I am still not really advanced at it. Let me know your opinions, Thank you
by RamziAbouAbdallah-CMT
Very possible we may pullback early in week --> 1.08 Daily LevelIt is possible we may continue to pullback early in week and continue to reject daily level 1.07425. We must consider every daily level, even when we have a medium to long term bias on an asset. I think we can continue to pullback to the previous daily zone at 1.07795 before we see sellers step in and put in their two cents. Also the weekly candle needs to pullback and create a top wick. We had a very steep dive last week which we caught on the sell side. The wick on the daily candle shows rejection at a Monthly support and resistance zone at 1.09. I Still like a Bearish outlook. We have inflation data this week, at the end of the week that is. I think by that time we will have solid trend, and consequently use cpi data for a continuation of trend on the 4hr which we can ride. Safe Trading.
Long
by ShrewdCatfx
2
EURUSD: Rejection at 1.067 is a Buying OpportunityThe EURUSD broke through the 1.080 resistance level quickly, but was just as quickly rejected and closed below the level, returning to the channel it was previously moving in. I expect the price to retest the resistance at 1.080 before falling to the strong monthly support level at 1.067, where it coincides with the 61.8 Fibonacci and the 100 and 200 moving averages on the 4-hour chart. Below it is an annual uptrend line, so any rejection at this level would be a buying signal. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
by Candlestick_OB
Euro to CrashWe're still anticipating one more low for the Euro against the Dollar. As you can see the move down in the last few weeks has been 5 minute waves down to make a minor wave 1. We moved quite sharply up last week in what looks to be a blowoff top to finish the minor wave 2 and we anticipate a very sharp move down over the coming weeks to complete a minor wave 3 taking us back towards parity. shorting from current prices should provide a very nice return over the coming weeks and months. It seems traders have become overly bullish on Europe and this is likely about to change, with Credit Suisse and now likely Deustche Bank about to go over the edge as well, the European banking system isn't as strong as the ECB will have you believe and with Putin making moves to escalate the war in Ukraine further still by moving tactical nuclear weapons into Belarus the sentiment might be about to change. In addition to this we are forecasting that the US economy will continue to show more strength than the EU's and inflation looks to be on the rise again globaly, the Fed will likely continue on their path of rate hikes or at least maintaining the 'higher for longer policy'. All of this leads us to believe shorting the Euro will turn out highly lucrative in the weeks to come.
Short
by RAA_Trading
💵Euro/U.S.Dollar💵Analyze (Short Term, 03/24/2023)!!!The Euro/U.S.Dollar managed to form an Expanding triangle pattern, and it broke the upper line of the pattern and the 🔴resistance zone($1.088-$1.078)🔴 invalidly. I expect the Euro to drop down to the 🟢support zone($1.05-$1.046)🟢. 🔅Euro/U.S.Dollar Analyze ( EURUSD ), 4-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
3
EUR/USD: Pullback 50% 61.8% FIBO For a New LONG SetupAccording to ING economists, the EUR/USD pair has retreated after surpassing the 1.0900 mark. Nevertheless, they anticipate that the pair will reach the level of 1.1000 in the near future. Today, market focus will be on the PMI readings in the Eurozone. ING predicts that the survey will stabilize around the figures from February. Unless there are any major surprises, the PMI releases are unlikely to have a significant impact on the market as the macro fundamentals are currently playing a secondary role to the financial market's stress. ING suggests that the Dollar bias will remain bearish, and European currencies will be supported by hawkish central banks and a less volatile banking environment, which could lead to the testing of the 1.1000 level in the near future.
Long
by FOREXN1
20
EUR/USD Continues to Climb, Testing 7-Week HighsOn Thursday, EUR/USD remained strongly bullish and showed no signs of slowing down. The pair managed to hit fresh 7-week highs, testing the 1.0930 level. This consistent upward trend can be attributed to the persistent selling pressure on the US dollar, which resulted in the USD Index (DXY) hitting multi-week lows, falling below the 102.00 level earlier in the day. The dovish hike by the Fed during its Wednesday meeting, coupled with Chair Powell's downbeat message at his press conference following the rate hike, also contributed to the pair's upward momentum. The European Commission will release the flash EMU Consumer Confidence for the current month, which will likely have an impact on the euro's performance. In the US, weekly Claims, Chicago Fed National Activity Index, and New Home Sales are expected to be released. The EUR/USD pair's optimistic outlook remains intact, and it looks to consolidate its recent strong rebound past the 1.0900 resistance level. The pair's immediate target is the 2023 high near 1.1030. The pair's future price action will be largely dependent on the US dollar's movement and the European Central Bank's potential next moves, considering the current context dominated by elevated inflation, although amidst dwindling recession risks for the time being.
Long
by FOREXN1
24
Euro can continue rise and reach resistance line of channelHello traders, I want share with you my opinion about Euro. Looking at the graph, we can see how the Euro formed resistance area 1.0790-1.0805 from which the bounce back and begin to decline. The price dropped and created a support zone 1.0535-1.0515, from which it began to move up and created an upward channel. We also see how earlier the price made the downward impulse, broke through support of channel and retested the support area. After retest of the support area, the price returned to the channel and continued to move upwards and break through resistance level 1.0760. Euro make small correction to support level, retested it and continue to grow. Now the price is close to the resistance area and can continue to move and break through it. I think that after a possible breakdown of the resistance area, the price can keep moving up, so I decided to set two goals at level 1.0805 and at level 1.0830 which coincide with the resistance line of channel. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6