Forecast and levels for EURO - page 27

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Press review

Sergey Golubev, 2018.07.08 12:58

EUR/USD - daily rally within the primary bearish market condition (based on the article) 

EUR/USD chart by Metatrader 5

  • "The past week has seen the recovery in EURUSD gather steam with the break above notable resistance at 1.1720-25 confirming that the pair has based out at 1.15, while signaling that the momentum is on the upside. As such, this opens a run in for the June 14th high at 1.1850, which is the final hurdle before a potential move towards the key 1.20 level. However, if the pair falls back towards 1.1600-50 could suggest another corrective move to test 1.1500-10 support zone."
  • "Looking ahead towards next week, risks event on the docket for the Euro will be the US and German inflation figures. In regard to price action, a close above current resistance at 1.1753, which marks the 23.6% Fibonacci Retracement of the 1.2555-1.1508 could act provide support for the forthcoming week. On the downside, support also comes from the rising trendline from January 2017, residing at 1.1640 and coinciding with the 20DMA."
  • "Those bullish on the Euro will find solace in the fact the Relative Strength Index on the daily and weekly charts suggest the bias is tilted to the upside, which suggest that the recent reversal in price action is likely to continue."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following custom indicators:


 

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Press review

Sergey Golubev, 2018.07.11 10:28

EUR/USD - waiting for the big price movement; 1.1790 is the key (based on the article)

Daily price is moving along Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. Chinkou Span line is located near and above the price to be ready to break it to below for the good bearish breakdown. Alternative, if the price crosses 1.1790 resistance level to above so we may see the reversal of the daily price movement to the primary bullish market condition.

EURUSD daily price by MT5

  • "Gains in the pair stalled ahead of the 1.18 handle, while the failure to close above resistance at 1.1775, allows for the pair test lower levels at 1.17, however, the rising trendline from Jan 2017 continues to offer support. Previous resistance at 1.1720 will be the next target on the upside with 1.1755, which marks the 23.6% Fibonacci retracement of the 2018 peak - 2018 low another level of interest on the upside. In the short term, EURUSD has softened, however, on the weekly timeframe, momentum is towards the upside, a close above the aforementioned 1.1775 level can allow for a run in on 1.1820."
  • "Upside bias in the cross remains intact having made a break above the trendline resistance from the 2018 high. Following the break, eyes are now on the double top posted in May at 131.40, before a grind towards the 132 handle. The 100DMA situated at 130.10 now acts as support for the cross, while RSI indicators suggest that there is more room for further gains with the index not yet moved into overbought territory."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Press review

Sergey Golubev, 2018.07.15 15:37

EUR/USD - daily bearish ot be resumed; weekly bearish reversal soon (based on the article) 

EUR/USD daily chart by Metatrader 5

  • "The last few days brought with them the potential for yet another test of major support in the low-11500s, an area EUR/USD has held on three occasions since late-May. Will it hold, fold, or was Friday's decline and recovery the carving out of a higher-low from not so obvious support? There is a trend-line from January 2017 running through the bottom of recent price action which also coincides with a lower parallel on the 4-hr chart, this could provide the means to put in place a higher low. However, a break below the lower-parallel/trend-line and an important test of big-picture support will likely develop."
  • "If a higher-low has in fact developed as of Friday, or very close to doing so, then a move higher next week could gain traction. But the euro has its work cut out for it if this is the case, with an upward hill to climb. On a decline down to around 11500 the market will test buyers' resolve. A fourth hold will keep the euro buoyed, and bring to light the distinct possibility of a descending wedge formation maturing in the days/weeks ahead. A break below key support will have price resuming its downhill roll from the spring"
  • "Whether we are in for a higher-low, a test and hold of the low-11500s, or breakdown in the week ahead, it looks like it could be another important stretch of days. Or, the euro may be in for some summer doldrums and bounce around with little conviction in either direction."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following custom indicators:


 

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Press review

Sergey Golubev, 2018.07.29 10:29

EUR/USD - bearish reversal (based on the article)

EUR/USD chart by Metatrader 5

  • "Choppy, contracting price action (wedge/triangle building) can put a trader's patience to the test. The choppier it gets the closer we are to making a material move. The chart pattern currently under construction is coming around nicely with price moving towards the apex."
  • "Symmetrical triangle or descending wedge? Does it matter? Not really. As it stands now it is taking on the shape of a symmetrical triangle, but should we see a break of the 7/19 low (11575), we will likely be looking at a run on the 11500-level. With another hold of this key level, the symmetrical triangle could shape-shift into a descending wedge."
  • "Overall, the days ahead may hold more of the same uninspiring price action. If you are fading levels for scalps, then there is support and resistance to play off. For those looking for a breakout, patience will likely serve you well."

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The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.


 

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Outlook on the Euro

mostafa_mosbah mosbah, 2018.08.19 00:31

God willing, there will be a drop for the Euro-Dollar pair at the beginning of the week and before the end of the week it will rise again

 

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EURUSD

mostafa_mosbah mosbah, 2018.08.20 03:40

The EURUSD sees a decline on the first day of trading and then will bounce back


EURUSD chart by Metatrader 5

 

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Press review

Sergey Golubev, 2018.08.25 16:58

EUR/USD - daily rally to the possible bullish reversal; 1.1749 is the key (based on the article)

EUR/USD daily chart by Metatrader 5

  • "Coming into the week we were looking for digestion of recent losses to lead to an opportunity for more euro weakness shortly thereafter. Wrong. The turnaround off support near 11300 gave no signs of letting up and with it came the reclaiming of the important 11500 level. "
  • "Next week, we will be watching to see whether the aforementioned resistance levels (lines in this case) can keep a lid on continued strength, or if indeed we may have a larger trend reversal on our hands. Even if a much larger rally is to occur, keep an eye on the numerous highs in the mid to upper-11700s as this area could prove problematic on a first touch. On any immediate weakness 11500 is viewed as strong support."

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

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Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread 

After


 

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Wedge Chart Pattern EUR/USD.

Thomas Lawson, 2018.08.25 18:13

The EUR/USD is currently in a wedge chart pattern 4 hour chart. A dovish Fed chair J Powell and a possible Trump impeachment fueling upswing in the EUR/USD Forex pair. 
 

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Press review

Sergey Golubev, 2018.09.22 10:01

EUR/USD - daily rally to the possible bullish reversal (based on the article) 

EUR/USD - daily rally to the possible bullish reversal

  • "On Thursday, the euro finally made some headway out of the congestion it's been stuck in during the past few weeks. The breakout turns the once-viewed resistance area in the low to mid-11700s into support, and as long as price stays above the outlook is favorable for another leg higher."
  • "A break below 11700 would put price back inside the choppiness the euro just came from and at the least be a caution signal for longs, if not turn the tone outright negative. At that juncture, we would be inclined to stand aside again as market conditions turn unfavorable for momentum to develop in either direction."
  • "As long as we see support hold, expectations are for the big swing-high from June at 11852 to get tested, if not broken in the week ahead. Looking beyond 11852, the 11900/2000 zone will be targeted. We'll watch price action closely at that point for signs of momentum stalling."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following custom indicators:


 

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Press review

Sergey Golubev, 2018.10.05 14:06

EUR/USD Ahead of NFP (based on the article)

EUR/USD Ichimoku chart by Metatrader 5

  • "Updates to the U.S. Non-Farm Payrolls (NFP) report may fuel the recent weakness in EUR/USD as the world’s largest economy is anticipated to add another 185K jobs in September. The Unemployment Rate is also expected to narrow to 3.8% from 3.9% per annum in August, and signs of a more robust labor market may encourage the Federal Reserve to deliver another rate-hike in 2018 as Chairman Jerome Powell notes that ‘the economy is strong, unemployment is near 50-year lows, and inflation is roughly at our 2 percent objective.’"
  • "In turn, the Fed officials may continue to prepare U.S. households and businesses for higher borrowing-costs as ‘the Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term,’ and a set of positive developments may ultimately heighten the appeal of the dollar as market participants gear up for higher U.S. interest rates. U.S. Non-Farm Payrolls (NFP) increased 201K in August following a revised 147K expansion the month prior, while the jobless rate held steady at 3.9% per annum during the same period amid projections for a 3.8% print. Nevertheless, a deeper look at the report showed the Labor Force Participation Rate narrowing to 62.7% from 62.9% July, while Average Hourly Earnings unexpectedly climbed to 2.9% from 2.7% during the same period."

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The chart was made on daily timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:


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