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Daily EURUSD discussion

Admin

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EURUSD touched 1.1170 perfectly and has had a 20 pip bounce already.
 

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Some chatter about ECB policy makers looking at removing easing bias at next meeting, not certain however. Caused a 40 pip spike in the Euro.
 

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Just ahead of NFP, EURUSD is sitting on the 1 hour 85 EMA. To the downside the 1.12 handle offers some support and further down 1.1150 should offer support also. If it pops higher 1.1265 has been the limit for the recent uptrend which will need to be clearly broken to get any higher.

 

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EURUSD sitting very close to support at 1.1240 area. 1.1226 could provide some support otherwise some room down to 1.1200 handle.
 

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A fair sized move underway in the Euro, trying to find a source.
 

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Ecb draft forecasts said to cut inflation outlook through 2019; ecb said to raise gdp outlook by around 0.1 point through 2019: Bbg
 

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My view of the Euro currently:



Should 1.1210 break, 1.1170 seems next support and then room down to 1.1120 area. Big test right now.
 

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Zerohedge on their twitter are reporting an ECB source is saying any forecasted changes will be very small. This is essentially covering the earlier message and now the Euro is only 10 pips from where the whole move began several hours ago!
 

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Euro seems forever stuck in this 1.1100 to 1.1300 zone and this is the current view:



With neither the ECB or the Fed decision being able to break the area I'm not sure what it'll take to do so. Plenty of open air further down if it does go lower.
 

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Hi john, hope you're recovering well?

Just wanted to see if you had any views on the recent EURO rally and where you think its headed? Not sure if you watch Stocks also but they've been surging recently too, not that i am complaining as my pension is doing nicely so far this year.
 

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Hi john, hope you're recovering well?

Just wanted to see if you had any views on the recent EURO rally and where you think its headed? Not sure if you watch Stocks also but they've been surging recently too, not that i am complaining as my pension is doing nicely so far this year.
Hi Will,

I'm doing okay thanks, getting there slowly.

The USD has been crushed the last few days which has allowed the Euro to jump past multi month resistance. I can't see much stopping it until the 1.1620 area. If price does retrace lower, I can see 1.1400 being the potential support area. Interesting times ahead that is for sure.
 

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EURUSD getting very close to some strong support at 1.1620. It has already had a bounce this morning, it'll be interesting to see what, if anything, the FOMC will do to the Euro.


 

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EURUSD working a level at 1.1720. It needs a candle on the 4 hour chart to close below the 85 EMA and 1.1720 area for any further downside in my opinion. 1.1680 awaits and then some clear air down to 1.1620 area.

Should the level continue to hold 1.1780 needs clearing to the upside.

 

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It's interesting to note that most sentiment indicators are showing a majority of retail traders are short on EURUSD, around 65/35. Thus, a contrarian trade should mean EURUSD should rally from here. It keeps testing the 1.1720 zone and has bounced again today, will be interesting to watch.
 

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It's interesting to note that most sentiment indicators are showing a majority of retail traders are short on EURUSD, around 65/35. Thus, a contrarian trade should mean EURUSD should rally from here. It keeps testing the 1.1720 zone and has bounced again today, will be interesting to watch.
Contrarian trade would have worked very well, around 250 pips available.

EURUSD is testing the 85 EMA on the 4 hour chart which holds the uptrend in tack. A break below that and then 1.1820 is needed for any further downside.

 

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Been a while since I've posted here but this is a great chart to study. Price is approaching a key level around the 1.2340 area and also the 85 EMA. Logic would say price should have some sort of action/reaction there but also in my mind I can see it taking it clean out if the volatility continues. EURUSD is holding up reasonably well against the USD compared to the likes of GBP and AUD.

 

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EURUSD fast approaching a very big level on a higher timeframe perspective. 1.2280 area has supported EURUSD very well since the 21st March. Is it the turning point for EURUSD to begin a bigger downward move??

 

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Here's a structure that may pay off on an intraday basis. Will be interesting to see where it ends up in 12-24 hours.

 

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Just a follow on from the above chart, you could have made a trade either side of the descending triangle and made some pips.

 

Josesv

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The EURUSD has retraced back toward a topside trend line on the hourly chart (at 1.1558), and toward the close from Friday at 1.15656 area.

The high price reached 1.1563 - between the two levels.

Drilling to the 5- minute chart, the price also moved above its 100 and 200 bar MAs on the run higher. Earlier in the day, the 200 bar MA stalled the rally. The move off the high is trying to stall the fall now.....Stay above keeps the corrective run alive.
 
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