EURUSD

While it's good to be a contrarian trader, it's dangerous

President Trump chose Turkey as a target, and under the crossfire was the euro

On Friday, the Lira has fallen to record lows due to the escalation of tension around the situation with the detainees in Turkey, an American pastor against the background of the order of trump about the doubling of the number of tariffs on Turkish metal. The "bloodbath" that began quickly spread from the developing to the developed markets. As a result, the Euro fell by 1.2% and reached the minimum level for more than a year. It is worth noting that the single currency continued to decline, provoked earlier by an article in the Financial Times, which reported concerns about the ECB's relatively high share of European banks in Turkey's assets.
If the us-Turkish conflict is not resolved soon, the Euro will continue to remain under pressure due to concerns about the potential vulnerability of European financial institutions, warns Shahab Jalinas, chief currency strategist at Credit Suisse Group.

"As long as the markets are worried about the fate of the European banking sector in connection with the Turkish events, the pressure on the Euro will continue, although it is difficult to assess its scale. Unless the situation in Turkey suddenly normalizes, the growth of the Euro will attract sellers, especially given the fact that the markets remember about their own internal problems of the single currency because of the risks associated with the Italian budget," - says Dzhalinus.

On Friday, the Euro fell to a low of $ 1.1395, and now, as of this year, the currency has weakened against the dollar by about 5%. Jālīnūs recommends to watch over the next 200-week moving average at $1.1367 as next key level. The expert recalls that in the second half of 2016, this mark played the role of resistance.

Meanwhile, the dollar strengthened Friday against almost all major rivals and emerging-market currencies, demonstrating its popularity as a safe-haven currency (to the likely displeasure of the us President). In the B10 currency category, the Euro suffered its worst losses in pairs with the yen, dollar and franc.

"The turbulence in emerging markets, caused by the situation around Turkish assets, is the cause of increased fear in the markets. The only currencies that players are interested in in such conditions are the dollar, Swiss franc and yen," says Brad Behtel of the Jefferies Group.

Here's my take on EURUSD, from a technical perspective.

On the H4 time frame, the market experienced a parabolic drop from the area of consolidation where it has operated for quite a long while. Such a move is not likely to be sustainable and is likely to be followed by a pullback. We may expect the market to have a pullback to the 1.15200 area, which is a broken down support area and then role-flipped as resistance. This is likely to result in a southward turnaround. A descending trendline (magenta) from July 31, 2018 is likely to act as resistance.

I am bearish EURUSD.

I may be wrong. Trade safe and prosper.

KP

GAP down, I see, hmmmm

Once again smart money wins. That gap was enough to leave fresh buyers to margin call if they did so wirhout expecting a gap.

Bigger things to worry, a trader must, if 25 pips GAP results in margin call.

just as easily someone profitted by shorting right before close.

The EURUSD is overextended to the downside and possibly ready for a correction. In case of a bullish pullback, the 1.1500 level may become resistance. To the downside, below the 1.1400 level, its next support could be the 1.1300 level.

Eur/Usd opens the week with a bearish gap and hit a new low around 1.1360, correction movement may continue before further decline giving the fact with limited economic data on Monday.

CHANGE OF TREND ON 4 HOUR CHART IN THE LONG UPWARDS DIRECTION HOW MANY OF YOU AGREE ...EXPERTS KINDLY REVERT

Bullish pullback towards 1.15 only to retest the broken support. Bear trend still in play

My Intraday Outlook.
(ahead London)

Oversold! If H1 close above 1383 we might see 1400, 1423... and maybe some more bull correction.
Stand by for a new swing high to sell though, because the higher TFs are bearish.

Intraday resistance :
- 1.1400 - 23 - 50 - 70
Intraday support :
- 1.1350 - 20 (Weekly_S1)

Initial intraday plan: Already bought 1370 and still running... maybe I'll close it at 1397 smth...

Have a great trading day, you all!

Tudor , you are in a great trade . Don't spoil it exiting prematurely.

I am long at 113.81 and add on at 113.50 too , IF SEEN...

Have a great week all , crew.

THANK YOU ALL FOR YOUR FEED BACK

Man, .... pls don't relax today .....[leave it for another day ]

I dont fkn know what to do about 1383, the current lvl.
nasty 38.2% weekly fibo support!
I've already made 1% at 1383 ...hm, I should have closed at 1395 and relax today ...damn greed for 2 pips (1397)

BAM! 1395 again! Closed
+2%! Beautiful Monday!
Sorry, F.g, my friend ...I'm a coward ...actually I'm fighting against my greed, 20 pps a day is enough
We might easily see 1423 today, but I don't care anymore
Good luck, folks!

Good morning all and happy trading this week

Swing and intra you find here
https://www.forexfactory.com/showthr...4#post11359014

Have no time now, will post LO close or later

Good luck with your intra longs, hon! And have a nice jogging this mornin'!