EURUSD only

EU avoided a strong breakdown, but closed low for the day currently in consolidation above support at 1.0790/60 and for now 1.0856/66 resistance should cap any bounces. In the news we have to watch EU CPI numbers who are waited to seen lower, meaning bulls are risking eu to go down.

Daily volatility (range) 46 pips

Significant news - Revised UoM Consumer Sentiment

15 min
Have a great month!

Morning All,
I just finished my EURUSD 1 Mar 2024 W9 – Intraday Analysis – EU PMI/CPI – US PMI


Always highly appreciate your feedback.
www.amrsadek.net

Update:

I saw something sweet. Mobthly pivot is 0799. So this time we opened the month above it. Higher prices should come. At least that butterfly sell price you drew yesterday. I don't know how they would want to play it but somehow we will rise at some point.

Quick DAILY Outlook

1. Today I am focusing on ~1.0787 support. Can bulls turn sell pressure off and continue higher by protecting this level OR
2. Will bears continue to force price lower to create the missing shoulder?
3. I am waiting for London opening. Intraday wise, I mainly focus on buying dips, but I will trade mixed until this dilemma is cleared.

Happy new month and happy trading day to all

You all know (1.0791) (1.0768) | If the market break Pedro's support, 1.0785 or 1.0781
So at least the market should come here (1.0768)
Let's see!

Good luck!

Quick H4 Outlook

1. H4 is a little more bearish vs. D1 chart. Here, ~1.0819 area is currently resisting and bears have the upper hand while candles open below.
2. The dilemma on DAILY is still whispering to me that a surprise bull attack into the stop hunt zone is not eliminated yet. So we must trade careful even while anticipating that bears will eventually arrive at ~1.0735.
3. Long story short: I want to trade mixed and as long as candles open above ~1.0795, I will try to buy dips! (Because: potential double bottom!)

Best wishes

Also keep an eye on the (1.0796)

Good morning, I hope you are well. I just saw the bulls started to move now, on 5M. 5M, and 1H charts;

Nice Jumpstart for Frankfurt opening

We have a new monthly pivot around 1.07991.. Will be interesting.. don't forget that is the first day of the month and FRIDAYYY

#EURUSD / H4

One more reason to add longs if we get to support.
This is my bread and butter, reversal pattern at confluence support, does not get much better.
I will name it "Icarus".
H1 chart

I am marking a 5 pips thick resistance zone on H1 at 1.0819/24... Bulls must break above, otherwise Friday stays a bearish day!

Generally London will touch 10 pips above Asian high for a good short or below for a good long. I'm ready for whatever. Since the highs of Asia have not been breached then I relax and wait with my longs. First TP 1.0830. EUR data sp far had been up to forecast and so good.

My Daily Pivots & Range

1 hour, eu can bounce to 1.0840 or drop below 1.0790 to 1.0780 on eu cpi news later (30 min) from the weekly pivot at 1.0822

Slower inflation but failed to beat the forecasts, more consolidation.

It can't go higher without clearing the stops below.
Market mechanics.

Also the monthly number came hotter this month (Feb) so next week ECB will push back to rate cuts as we'll make longer to see inflation back to 2% percent according this number.

Here: