EURUSD Chart Analysis

https://getknowtrading.com/intraday-...ember-08-2020/

The price is on a slow pace heading down since yesterday when the market opened. It is still inside a small range between $1.18398 and $1.17842, but the price has managed to break below 4H trend line support.

The next step for the price is to break below $1.17842 support level which is the lower level of the small range area.
While the price has a support level in front that must be broken and that could hold the price for a while, the target could be reached this week.

If the price reaches the $1.17000 level we could see the price bouncing while the support level is the level that is holding the price above since the end of July.

https://getknowtrading.com/intraday-...ember-09-2020/

The price is moving as predicted on the yesterday 's analysis and on Saturday analysis. It is moving at a slow pace and breaking support levels targeting $1.17000.

Yesterday the $1.17842 support level did not hold. When the price reached this support a small pullback happened that did not last too long.

At this level where the price is now it will find some buying pressure because this level was hard to break down on August 21 and 27.

We can see the price has reversed on those dates from falling down to $1.17000 into a bullish scenario and the price reached new highs, $1.20000.

https://getknowtrading.com/eurusd-he...wn-to-1-15462/

The price finally found a way outside of the range between $1.17000 and $1.19000.

The last two days candles were strong bearish candles that indicated the price could move down. If you take a look in the range area there were no similar strong bearish candles like these ones.

While the price has broken below strong support level $1.17000 the next step is to reach first strong support level. That is $1.15462 which was a strong support in the past.

https://getknowtrading.com/eurusd-bu...out-confirmed/

The pair returned again inside range area that was active from July 27 until September 22.
Bears could not hold the price below $1.17000. The EURUSD has fall down to the first support level at $1.16178 where it found buyers that stopped the price.

You can see I have drawn downtrend lines to watch the price when it will break above. The break started this week on Monday and throughout whole week price needed enough buyers to find its way further up.
The price is now free to move up and first resistance that will hold the price from further move up is at $1.19000.

EURUSD has made a pullback this week after it confirmed breakout from the descending channel.
On Monday, October 12, the pair formed an indecision candle that stopped price moving higher.
Since then the pair was making bearish candles. On Wednesday the pair formed again indecision candle after which the pair made another bearish candle
As it looks like, the strong bearish candles are suggesting that the price has a hard time to move UP so it is good to wait and pay attention on Monday close.

But, as I said, I am still bullish until the price is above $1.17000. If the price manages to close below the price could move down to $1.15462 support which is also a monthly strong support.
https://getknowtrading.com/eurusd-testing-1-17000/

https://getknowtrading.com/eurusd-he...of-resistance/

EURUSD found strong support at the $1.17000 and for the whole week the pair is moving higher. The rise of a price was stopped at the resistance level of a new uptrend channel.

End of the week formed a bullish engulfing candle suggesting further move up at the beginning of the next week.
The pair is very close to the strong resistance level which is defined by the uptrend channel resistance and horizontal resistance.

I am expecting the pair to stall at the $1.1900 before trying to break above. We could see a pullback to $1.17800 – $1.18000 area where the price could find support for next move up.

The pair ended the week in the middle area between two strong resistance levels. On the upper side we have $1.17000 and on the bottom side we have $1.16178.

Well, as it now looks like the market is heading down and the first support that is ahead is $1.16178 which stopped the price last time. That stop was a month ago, on October 25.

The first support $1.16178 likely will not hold the price so the next support is at $1.15462 which is a confluence of support levels.

https://getknowtrading.com/eurusd-bu...is-the-target/

https://getknowtrading.com/eurusd-ba...trend-channel/

In the previous analysis I have pointed that the price could reach $1.16178 level and then make a pullback to $1.16700 – $1.17000 area.

The price did just that and reached uptrend channel support level which is a confluence of horizontal resistance and uptrend support line. From there the price returned back to $1.16178, but since then the price changed from the bearish into the bullish sentiment.

When the price reaches $1.19000 – $1.19300 level we could see the price making a pullback back to $1.18200 before moving further up. The $1.18200 is an uptrend channel support area which will stop the price from falling down to $1.17000.

https://getknowtrading.com/eurusd-in...of-range-area/

In the previous analysis I have pointed out that the two things can happen.
the pair could reach $1.19000
and then make a pullback to $1.18200

Both points were realized last week in just one day, on Monday.

Since the price broke below the uptrend channel support line and it bounced back to the same level I am now open to sit and wait.

In the analysis from the last week I said that the market does not look too bullish that would move the price easily up to $1.19000. The market overview shows just that.

The pip range this week was 80 pips and it means that the price was in the indecision area. The middle of the range area between $1.17000 and $1.19000 is still holding the price from large movements.

I am expecting the price will try to break above $1.19000, but before doing that it could make a pullback to the area between $1.18150 – $1.18200 which is the current support that held the price two times this week.

https://getknowtrading.com/eurusd-ah...of-resistance/

https://getknowtrading.com/eurusd-is...-could-repeat/

The market week behind us has done a huge move forward. The price has done two things I have mentioned in the previous week forecast.

The price:
Made a pullback to $1.18150 – $1.18200 area
Bounced back above $1.19000

New highs for EURUSD are in this order.

First high is around $1.20800 where the price will probably stop and make a pullback. This level acted in the past as a strong resistance.

On the chart it is visible that the uptrend channel resistance line is making a confluence of resistance at that area together with the horizontal resistance line.

https://getknowtrading.com/eurusd-br...trend-channel/

After reaching the $1.20000 level the price bounced down as a reaction to strong sellers and buyers who took the profits.

Strong resistance level acted as a strong psychological level(round number) that forced buyers to exit and sellers to enter.

At the $1.20800 level price could find support to move higher and head towards $1.25000.

The first resistance level that is stopping the price reaching $1.25000 is $1.22845. It is an area around $1.3000 level.

https://getknowtrading.com/eurusd-lo...-above-1-21793

EURUSD chart shows the price behaviour in the previous week. What is visible is the price pullback from $1.21793 to $1.20800 which is the first support level.

The daily close of Thursday candle was not above previous daily candles close, $1.21430 level, which is now an important resistance level to break in order to continue moving up.

I am bullish oriented for now until the price is above $1.20000 and until the price reaches $1.25000.

https://getknowtrading.com/eurusd-fo...-from-1-25000/

At the beginning of the week the price has stalled at that level. The price returned back to the previous uptrend channel resistance line and then bounced back up.
The next day, on Tuesday, the price made an indecision candle, but the candle closed with price above $1.21430.

The next week will be a slow week due to holiday, but I am expecting the price to reach the $1.25000 level eventually.

The next resistance will be again on the $1.22845 and after that $1.24000. What we can see is that the price for now does not have any strong resistance except $1.24000 level.

In the previous week forecast I have mentioned that the pair could make a retrace back to $1.21793 which happened already on Tuesday.

The price retraced back strongly and formed a bullish Pinbar. The Pinbar shows us that the market is still supported with strong buyers waiting on the support level. The $1.21793 level is a confluence of support.

The market is moving steadily to the upside. The resistance levels are $1.22845 and $1.24000 which will hold the price from reaching $1.25000.

https://getknowtrading.com/eurusd-fo...ea-is-forming/

We had EURUSD making a bullish candle on the confluence support area right at the start of the week.

As I said in the previous week EURUSD forecast the support $1.21793 was the support that holds the price from falling down.

We can expect the price to reach a confluence level of support and from there move up. The $1.22845 is the resistance that will be harder to break above.

When that happens the price will have $1.24000 level as a harder level before it reaches $1.25000

https://getknowtrading.com/eurusd-fo...fight-follows/

The return inside range was strong. Two large bearish candles have wiped two weeks’ bulls’ work.
The price stopped at the support level $1.21793.

That level is the previous confluence of support which is now preventing the price from falling down.

If the price does not close below $1.21600 it could stay inside the range between $1.21793 and $1.22845.

https://getknowtrading.com/eurusd-fo...of-bulls-wall/

Strong bearish candles last week was a sign of bears strength and that has been confirmed on Monday.

The price has fallen down to $1.21500 which was a sign that the price will move down and by end of the week the price reached $1.20800.

$1.20800 is a support level that held the price from falling down in the strong bullish move in December 2020.

We will see the price bouncing up from this level.

https://getknowtrading.com/eurusd-fo...ish-territory/

Last week I pointed out the price could reach $1.20800 level and bounce back to $1.21793.

The price reached $1.20800 and bounced on Monday back up.

For the next week I am waiting for the price to make a move.

If the price closes on a daily basis above $1.21793 I am expecting to reach $1.22700 level where it could find resistance.

https://getknowtrading.com/eurusd-fo...lds-the-price/

This week the price has made a bounce down to the first support at $1.20800.

The price took three days to reach the support which means bulls were strong enough to hold the price on the upper side.
In the next week I am expecting the price to break out fromt this small range.

If that happens and the price closes above $1.21793 on a daily basis the price will move towards the $1.22845 level.