EURUSD

For reasons I do not understand , I can no longer post with my original name : F.g.

So I changed my name to Fil.G. and life continues. . . . .

The EURUSD price action on the daily time frame is sideways. The price action went sideways on Friday after a feeble bullish retest of the 1.16840 intra-day horizontal resistance. The area aligns with the 78.6 fib retracement of the bearish swing traceable to May 2021. Although we cannot rule out further northward price engineering, a southward turnaround is imminent.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

JY 5' --- I am long with SL as shown . . .

5' --- Short as shown . . . .

GOLD H. ---


SILVER H. --- Both short with SLs at BE.

Structure
Price made a recovery from the 1.1604 area, pushed into the 1.1650 region, then formed a lower high and started rolling back down. Current price around 1.16229 is pressing toward the lower side of the range again. This means the chart is not a clean buy anymore unless price reclaims the broken area.
Pattern and candlestick read
This looks like a bearish continuation / failed bounce pattern. Price bounced, failed to hold above the mid-band, then started printing red candles with lower highs. The recent candles show sellers controlling the pullback, and the market is now testing the lower band area again. No strong bullish engulfing or reversal candle has formed yet.
Key levels
Resistance: 1.1629 to 1.1635
Stronger resistance: 1.1648 to 1.1653
Support: 1.1615
Major support: 1.1604
Best trade plan
I would not buy here just because the indicator says buy. The cleaner setup is a sell retest.
Sell entry: 1.1629 to 1.1635 if price pulls back and rejects
Stop loss: 1.1646
TP1: 1.1615
TP2: 1.1604
Breakdown entry: if M30 closes below 1.1615, wait for a retest of 1.1615 to 1.1620 from underneath and sell rejection
Targets: 1.1604, then 1.1590
Invalidation
The bearish setup weakens if M30 closes back above 1.1635.
It becomes invalid if price reclaims 1.1648 to 1.1653, because that would show buyers regained control.
ForexFactory style paragraph
EURUSD M30 is showing bearish continuation after a failed bounce from the lower range. Price rejected the mid-band area and is now trading below the previous buy zone around 1.1631, which makes the buy signal weaker. The structure shows lower highs and renewed selling pressure, with support sitting at 1.1615 and 1.1604. I prefer selling a pullback into 1.1629–1.1635 with bearish rejection, targeting 1.1615 and 1.1604. A sustained close above 1.1648 would invalidate the immediate bearish view.

5' --- Nothing changed since yesterday . . . Long the $JY...............Short the E.

GOLD H. ---


SILVER H. --- No change here, too. Short with SLs @ BE.

JY 5' --- SL was hit at 159.65 . Small prfts .. . . . I have a pending to buy again as shown at 60.

5' --- I added some more shorts now. . . . SLs as shown . . . .

JY 5' --- Long again . . . SL @ BE.

GOLD H.


SILVER H. --- No change in Metals. . . .I stay the Course.

EURUSD H4 analysis
EURUSD H4 is bearish right now. Price rejected the upper structure around 1.1660 to 1.1675, failed to hold above the mid-band, and is now pressing lower around 1.1597. The sell signal around 1.16297 already started playing out, so the clean setup is not to chase the low, but to wait for a retest.
Pattern and candlestick read
This looks like a bear flag breakdown / failed recovery pattern. Price tried to base around 1.1600 to 1.1645, but the bounce kept forming lower highs. The recent red candles show sellers regaining control, and price is now riding toward the lower band. That usually means bearish continuation unless price reclaims the broken range.
Key levels
Resistance: 1.1620 to 1.1630
Stronger resistance: 1.1645 to 1.1660
Major resistance: 1.1675
Support: 1.1590
Next support: 1.1575
Deeper support: 1.1550 to 1.1535
Best trade plan
I would not sell randomly at 1.1597 because price is already near short-term support.
Cleaner short setup:
Entry: 1.1620 to 1.1630 retest with bearish rejection
Stop loss: 1.1652
TP1: 1.1590
TP2: 1.1575
TP3: 1.1550
Breakdown setup:
If H4 closes below 1.1590, wait for a retest of 1.1590 to 1.1600 from underneath.
Entry: sell rejection from that retest
Stop loss: 1.1620
Targets: 1.1575, then 1.1550
Invalidation
The bearish setup weakens if H4 closes back above 1.1630.
It becomes invalid if price reclaims and holds above 1.1660 to 1.1675.
Fundamental angle
EURUSD is currently caught between two forces. On one side, the dollar can stay supported when US yields rise, inflation risk stays elevated, or markets price a more hawkish Fed path. Reuters reported that the dollar is expected to stay stable short term before weakening later, with oil/inflation and Fed expectations still important drivers. On the euro side, ECB hike expectations can support EUR, with Reuters polling showing most economists expect an ECB rate hike at the June meeting. The latest ECB reference rate also shows EURUSD at 1.1614 on June 3, down 0.3%, which lines up with the short-term bearish pressure shown on your chart.
ForexFactory style paragraph
EURUSD H4 remains bearish after rejecting the 1.1660–1.1675 area and breaking lower from the recent consolidation. The structure looks like a failed recovery / bear flag breakdown, with sellers controlling the move below the mid-band. I prefer selling a retest into 1.1620–1.1630 with bearish rejection, targeting 1.1590, 1.1575, and 1.1550. A sustained H4 reclaim above 1.1660 would invalidate the immediate bearish continuation view.

5' --- Excellent analysis Sandy . . . Cannot be better. Price is on selling level right now. I have a pending to add , as shown.

[quote=Sandy1994;15737980]EURUSD

This guy. I'm not gonna lie, I've used you as my inverse trade indicator in the past.

5' --- Short as said...... but SLs are not that far away . . . . . .

5' --- All shorts are stoped , as shown . . . . and now they have pushed all shorts out of the game....the reversal is very close. . .

5' --- Yeah . . . short again . . .

H.

5' --- Although I believe that today's crest at 1. 16 45 is significant I am tempted to take my Prfts here and exit my shorts.

A jerk might appear from nowhere. . . . I risk it .