EURUSD

In FX markets, the greenback remained firm and held on to the prior day’s gains amid higher yields and expectations of a solid GDP report. Furthermore, the greenback was also aided by weakness in its main counterparts in which EUR/USD languished following an uneventful ECB meeting.

Option expiries of note for today's 15:00 BST:
EUR/USD: 1.1500 (1.1 BLN), 1.1550 (1.1 BLN), 1.1700 (1.9 BLN), 1.1735 (0.505 BLN), 1.1750 (1.2 BLN) and 1.1800 (0.759 BLN).

Not looking good, let’s see what the US GDP and Personal Consumption bring to the table today as I hold a long position @ 1.1555 with the targets, first target @ 1.1852 and second target @ 1.2000.

I only see more downside.

My targets 1.15 and 1.12.

Pretty much a boring week for the pair. Consolidated around 1.1640.

close all
tp 1: +80 pip
tp 2: +115 pip

Slightly higher about an hour after the opening of the US session.

Technical outlook for EURUSD Monday:

On 4-Hourly Chart:
The rejection from 1.1616 support area seems to be continue upto 1.1675 resistance which is also a pivot level on Daily Chart from which the market could go downside other wise further upside pressure will continue upto 1.1745 area which is also a daily resistance. BUT if the price breaks above the 1.1745 area in H4 chart we could possibly see the the BULLISH trend reversal.



On Daily Chart:

On D1 chart, Currently this pair is running below 20 day SMA and from the friday close, the candle was not able to close above the 20 Day SMA which is also giving an indication of further decline upto 1.16086 after some bullish move upto 1.1674 pivot level. The market is currently moving in consolidation state which is also a strong signal of bullish / bearish trend reversal.



On Weekly Chart:
On W1 chart, Currently the pair has been pushed up after hitting the 1.1541 weekly support. Clearly we could see more upside pressure this or next month as the pair has been rejected from the 1.1541 area. If the pair will be unable to break this support level, it could go further upside upto 1.20925 where it could be again rejected to create a WEEKLY HEAD AND SHOULDER PATTERN.





Summary of Analysis
The summary of all Timeframe Charts is that the EURUSD pair is currently in a consolidation state and also created a falling wedge pattern which is may be indicating the strong bullish reversal soon. So instead of following a trend, the only thing that we can do is to trade this pair according to the support and resistance levels declared above on Daily and H4 Charts. We can also trade on Pivot levels provided above. Bearish Eurusd Sentiment cannot be ignored but the chances for the bulls empowering is more than 65%.

Trade with your own mind !! Have happy Weekend as well as Happy Green pips next week !

Eur/Usd continue its consolidation in the lower range around 1.165, showing no clear directional strength. The pair will lead to further downside only if break below the support level at 1.1570.

Tempting to sell Eur @ 1.1664 but it is Monday. will wait for the new prices printing apart from the Friday range

for sellers 1.1682 is the best number I think

Until it breaks the pennant (on a daily chart) I do not see it going anywhere soon.

The greenback was flat which kept price action in EUR/USD restricted with the latter just about holding onto the 1.1650.

Option expiries of note for today's 15:00 BST:
EUR/USD: 1.1595-1.1600 (1.0 BLN), 1.1670-80 (0.770 BLN) and 1.1690-1.1700 (0.757 BLN).

Seems that the EUR/USD is developing a pennant shape pattern on a daily chart and until it breaks to the upside or to the downside, I will hold my long position @ 1.1555 with the targets, first target @ 1.1852 and second target @ 1.2000.

No trades today. tempting to sell around 1.1708. but previous monthly pin bar alerts me not to sell Euro

It seems to me we are arriving to a short consolidation phase, but it is going to break to the upside clearing level 1.1710-1.1722 to reach 1.1738-1.1754 and take another pause at this level to continue to the upside. This is my humble forecast.

I am in two long positions.. my first target is at 1.1717, Yes!! at 6-7 pips from the actual price action. My second target is at 1.1739.

Have a nice trade!!

Selling with a tight stop, see if it goes down

H4 Timeframe, channel trendline since April 2018
7 pip stoploss

This consolidation has lasted over a month now, although the resisting TL is more ambiguous.
I have a feeling we will get at least a fake breakout today with the inflation data

Nice position with very thin stop loss.

The USD index flat and its major counterparts across the bond also kept range-bound in which EUR/USD held onto the recently reclaimed 1.1700 handle.

Option expiries of note for today's 15:00 BST:
EUR/USD: 1.1600-10 (1.2 BLN), 1.1650 (0.451 BLN), 1.1700-20 (1.1 BLN) and 1.1750-65 (0.900 BLN).

Seems that the EUR/USD is still trading within the pennant shape pattern on a daily chart and until it breaks to the upside or to the downside, I will hold my long position @ 1.1555 with the targets, first target @ 1.1852 and second target @ 1.2000.