EURUSD only

Quick Weekly Outlook

1. Overall, bears keep going and there is nothing bulls can do about it, only mild and weak 200 pips wide pullbacks so far, and bear power is intact especially while price is roughly below 1.0525/50 area...
2. The potential shark is also still valid and bears are slowly nearing its completion point: 1.0333 area (BUT I decided to mark it as a zone that might stretch between 1.0308 and 1.0427)
3. I expect a strong rise right after shark completes, or even earlier when unexpected positive events or news come out. In both cases, bears will eventually exhaust selling power and we must get ready!
4. For the next week, I will watch if bulls have truly given up or not. For that, we must watch if intraday candles can climb back above 1.0523 area. Time will tell..

For now, keep enjoying your weekends until we meet again folks...

Stay Blessed

It seems more down than up, but we’ll see on Monday…

EUR/USD (Weekly): the price is now consolidating between the support and resistance levels.
The Price Action pattern may indicate that the bearish trend is not over yet.
If the current support is broken, then we can see the continuation of the trend towards the major 1.000 level.
Potential short after confirmations on lower timeframes.

That's what I always mean with "bears have the upper hand", meaning your thought is already included in my post...

Best wishes...

My contribution to everyone from what I see.
I'm currently looking at a Ferris wheel that started in January 2018...
Candle chart , interval between 13 months, the last bottom (Parity) to the last top the price did not reach its 50%, on the line chart the price hit 50% and returned, so for now I see that the EUR has the advantage, even with all the inflation of the USD and the War it is resisting...

"Ellipse Plot Line Chart"
I believe the price will be heading towards 100% of the leg from last week's bottom... if this happens I will be setting the top for July 2024.
One day after another in the end LIFE will win us...
Good week to everyone.

(DXY) It has failed several times to break through 106.813, what does this mean?"

My Long-Term Projection

As long as 1.0333 area acts supportive, below chart shows my long-term bias.. Enjoy!

*Of course this would take roughly 1.5 years to play out.

EU opened with a small gap up, but ranging below 1.0559 resistance, support comes at Fridays low and 1.0482. Both prices (support and resistance) offer the option for more upside or downside.

Daily volatility (range) - 54 pips



Have a great week!

Another week another dollar.
This week I see Euro gaining some strength back, unless news relating war will throw spanner in the works. In US one of the biggest pharmacy chains filed for bankruptcy (Rite Aid Corp.). The trail of owing's it leaves behind will have an ugly impact on a lot of companies. In general through out this year the amount of dept US has accumulated but not only gov but also dept from people, credit card dept is at its all time high with silly interest rates, no idea how people will or can pay back 20+% interest. But maybe thats the plan, not going to pay. Imagine that balloon to pop. It's just three banks this year in US, what's three more? No problem, top four banks and gov will hold each others hands and buy them up. Sorry for the rant, I see so much weakness. Sure there is weakness through out the World but at the moment in my opinion EU seems gaining some footing economically compared to US. I don't believe there will be any more rate hiking.

Some numbers I pay attention to:
1.0760
1.0685
1.0640
1.0535
1.0450

I'll be looking to legging into some long positions. I'm not set in stone with my views, if market shows I'm wrong I'll change my positions accordingly.

All the best for everyone for this upcoming week.

Today all I care is: Can H4 candles stay above 1.0507 or not? After that they also need to climb back above 1.0525 area. That way bulls might lead for this week. Nothing for sure yet though. We will know better once bears start retesting.

Happy new trading week to all

The failure to break through 106.813 could indicate a potential resistance level for the Usdx. Also it is important to note that technical analysis alone cannot provide a complete picture of the market, and other factors such as macroeconomic events and geopolitical developments can also impact the value of the U.S. dollar.

After reading through the weekend bias points to more downside, unless we see daily closes above 1.052/1.053

1.045/1.043 target area lower, I have gone short after expected profit taking and rise after the low on Friday, I would expect a retest of that and a possible breakdown. Follow throughs for the next few days.

Anything can change with news and the conflict but even without the conflict the trend is bearish anyway

"I agree. We can't rely solely on technicals and ignore fundamentals, and vice versa.

Good morning, hope you're great. For today, I think 1.0550 can be a good resistance. Hopefully, we'll see the bears show up, 1H, and 5M charts;

The bears might be trying now;

The bears did alright today;

Maybe the can do better from higher.

They haven't really done anything