EURUSD presents short-term buy opportunityEURUSD to continue bearish however presents short-term buy opportunity.
Fundamentally, the EURO continues negative outlook especially based on last week’s central bank meetings. While the US dollar is overall positive, data released this week showing higher inflation and unemployment dropping, along with good employment numbers.
However, from technical perspective, EURUSD presents short-term buying opportunities as shown above, imbalance to be filled before continuing lower as EURO sells-off against the strong US dollar.
EURO-USD
EUR/USD -14/4/2022-• As discussed in my previous posts, target was met just at the long term ascending trend line
• Bulls have a double bottom pattern now and are more convinced
• Which made the pair gain almost 100 pips in a single day
• Bears are still hopeful that this is just a corrective move and are waiting for better prices to short again
• Bulls are now targeting 1.09, 1.0940 and 1.10
• It is important to note that this move could be related to bears willing to stay put only because the ECB event is around the corner
• FED-ECB policy divergence to be watched to determine future direction
EURUSD - Can we ever buy Euro now?EURUSD.
Euro has been falling heavily for over a year now.
While the long term view suggests further decline, we are likely to see an upward wave before the bearish continuation.
With a valid triangle formation, the price is likely to make a reversal from 1.08 - 1.085 zone with a target for 1.15.
Always manage risk while trading.
3 out of 3 so far. EURUSD Still trialing this idea, using MFI to signal my trades coupled with heavy economic sanctions that will also be felt at home.
Going for the same 25 pip short and trail a stop once TP1 is hit.
Let me know if you have been following this idea over the past few trades i have posted.
EURUSD - Bearish - Struggling to Break HigherHere is a new SELL Scenario, i expect a stronger dollar
a short term bearish for EURO
US Treasury yields continue to rise
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EURUSD Is Bullish On Intra-day - Elliott wave EURUSD is in a five-wave intra-day rally on the 15min chart. This impulsive move up suggests a minimum three-wave recovery, with red wave a leading the way. At the moment price can be unfolding sub-wave (v) of a, which can look for resistance at the 1.128/1.13 region, and then turn into a bigger red wave b correction.
Both alternate counts suggest a flat to be in progress: ALT 1 suggests a potential top for a sub-wave (v) to be in place, and an a-b-c move to be underway, towards the 1.123 level, before more upside can follow.
ALT 2 suggests a flat to be in play for a sub-wave (iv), and a retest of the 1.123 level, before we may see sub-wave (v) unfold to the upside.