General EURUSD Chart Analysis

[CDO Markets]

• EURUSD is battling back, down some 0.5% still, however, having fallen from a high of 1.0406 to a low of 1.0305. US Treasury yields increased on Thursday as investors bet on a relatively hawkish Federal Reserve.
• The greenback was pressured in recent days due to last week's and this week's inflation data missing the mark vs. expectations. This had fanned the flames of the expectations of a Fed pivot while some of the Federal Reserve commentaries that accompanied the data implied that it could soon slow the pace of its interest rate hikes. However, a switch in sentiment on Thursday gave rise to a bid in the greenback once again.
• Consequently, it was a bearish start to the day with US benchmarks in the red, US yields higher along with a firmer US Dollar. The dollar index, which measures the currency against six major peers, was recently up 0.50% at 106.81 in midday trade. The index has traveled between a range of 106.098 and 107.240 on the day. However, the index remains in bearish territories while below 107.00. After hitting a 20-year high in late September the index had lost more than 8% when it touched its most recent intraday low on Tuesday.
• The EUR/USD pair is trading near the 1.0360, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0480, break above this level will extend the advance to 1.0600.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 68. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0270 and below this level will open the gate to 1.0200.

 

[Frano Grgić]

We can see on the chart the price formed a small bullish Pin bar on Monday and the price started to move to a higher level.

The price broke above $1.01368 on Tuesday, but the price returned back down.

I am expecting the price to move down slightly, around $1.02000 or above, and continuing to move up.

 

[CDO Markets]

• The EURUSD rejected by 1.0400 area again and fell during the American session to 1.0325 level, on a calm session across FX markets. The greenback spiked higher amid a deterioration in market sentiment that did not last much.
• Economic data released on Friday showed Home Sales in the US dropped for the ninth consecutive month in October. The annual rate fell from 4.71M to 4.43M, above the 4.38M of market consensus. The numbers did not impact markets. The DXY is posting modest weekly gains after more signs of a slowdown in inflation and better-than-expected retail sales numbers.
• Next week key events include the FOMC minutes on Tuesday. US markets will not open on Thursday due to Thanksgiving Day. November Flash PMIs are due on Wednesday. The European Central Bank will release the minutes of the latest meeting on Thursday.
• The EUR/USD pair is trading near the 1.0325, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0480, break above this level will extend the advance to 1.0600.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 64. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0270 and below this level will open the gate to 1.0200.

 

[CDO Markets]

• EUR/USD maintains the corrective downside well in place for yet another session and threatens to challenge the key support around the 1.0200 neighbourhood sooner rather than later.
• Indeed, in quite an uneventful session, the Greenback extends the recent bounce backed by the recent hawkish message from some Fed speakers, which lent renewed oxygen to both the buck and yields, while at the same time mitigated the optimism around a potential Fed pivot. Earlier in the calendar, German Producer Prices contracted 4.2% MoM in October and rose 34.5% vs. the same month of 2021. In the US data space, the Chicago Fed National Activity Index dropped to -0.05 in October
• In the meantime, the European currency is expected to closely follow Dollar dynamics, geopolitical concerns and the Fed-ECB divergence. In addition, markets repricing of a potential pivot in the Fed’s policy remains the exclusive driver of the pair’s price action for the time being.
• The EUR/USD pair is trading near the 1.0240, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0300, break above this level will extend the advance to 1.0400.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 57. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0200 and below this level will open the gate to 1.0100.

 

[CDO Markets]

• At 1.0295, EUR/USD is 0.53% higher in late trade in North American trade as the US Dollar retreated across the board on Tuesday while investors look past worries about China's COVID flare-ups, boosting demand for more risky currencies.
• The greenback edged lower on Tuesday amid the better performance of global equities and weaker US Treasury yields. Activity, however, was limited ahead of the FOMC Meeting Minutes and US Durable Goods Orders to be out on Wednesday.
• Asian and European indexes closed in the green, while Wall Street posted substantial gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with the 10-year note yield down 7 bps to hover around 3.75%, and the 2-year offering 4.51% barely down for the day.
• The EUR/USD pair is trading near the 1.0295, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0310, break above this level will extend the advance to 1.0400.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 61. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0200 and below this level will open the gate to 1.0100.

 

[CDO Markets]

•The EUR jumped against the US Dollar USD following the release of the Federal Reserve (Fed) monetary policy minutes showed that policymakers agreed to slow the pace of rate hikes at the Federal Reserve’s (Fed) November meeting. At the time of writing, the EUR/USD is volatile, trading at around 1.0400.
•As mentioned above, Fed officials agreed to slow the rate hikes spurred US Dollar weakness, as the EUR/USD advanced towards its daily high of 1.0400. Furthermore, policymakers expressed that monetary policy is approaching a “sufficiently restrictive” level, acknowledging that the Federal Funds rate (FFR) peak is more important than the rate itself.
•Officials expressed a high level of uncertainty about the peak of the FFR. However, several predicted interest rates would peak at a higher level, as the Federal Reserve Chairman Jerome Powell expressed at the monetary policy press conference. In the meantime, money market interest-rate futures odds for a 50 bps hike increased to 79% in the December meeting after the release of the FOMC minutes.
•The EUR/USD pair is trading near the 1.0400, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0400, break above this level will extend the advance to 1.0480.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 66. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

 

[jay123]

•The EUR jumped against the US Dollar USD following the release of the Federal Reserve (Fed) monetary policy minutes showed that policymakers agreed to slow the pace of rate hikes at the Federal Reserve’s (Fed) November meeting. At the time of writing, the EUR/USD is volatile, trading at around 1.0400.
•As mentioned above, Fed officials agreed to slow the rate hikes spurred US Dollar weakness, as the EUR/USD advanced towards its daily high of 1.0400. Furthermore, policymakers expressed that monetary policy is approaching a “sufficiently restrictive” level, acknowledging that the Federal Funds rate (FFR) peak is more important than the rate itself.
•Officials expressed a high level of uncertainty about the peak of the FFR. However, several predicted interest rates would peak at a higher level, as the Federal Reserve Chairman Jerome Powell expressed at the monetary policy press conference. In the meantime, money market interest-rate futures odds for a 50 bps hike increased to 79% in the December meeting after the release of the FOMC minutes.
•The EUR/USD pair is trading near the 1.0400, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0400, break above this level will extend the advance to 1.0480.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 66. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

View attachment 23248

I've got a short position with a target of 1.0320 although once it hits that I'm likely expecting it to continue its uptrend. Looking at the US stock market sectors with inflows this week it looked like more of a risk off/flight to safety week. Bulls are looking for any slight reason to buy

 

[Frano Grgić]

The price continued its move to $1.02669 on Monday, but since Tuesday the price was forming bullish candles.

The price reached the demand zone around $1.02669 where we have a confluence of support and from there the bulls pushed the price upwards.

The next level for the bulls is at $1.05087 where we have small daily resistance, but the final target is $1.05825 which is the weekly and monthly target.

So, we have almost 200 pips free area to reach from the current level in the next week and then the price could stop because there is stronger resistance in front.

 

[enigma8]

Today we will see will the price make a pullback to 1.09860 level which now is acting as a support level. Price could make a pullback before trying to break above 1.10373 level. View attachment 8296

It's look like eurusd will continue going up for next week to break nearest supply zone at dayli timeframe

 

[CDO Markets]

• EUR/USD alternates gains with losses in the low-1.0300s following another failed attempt to retake the 1.0400 barrier earlier on Tuesday.
• The euro was initially buoyed earlier on Tuesday due to the hopes of a potential easing in China's strict pandemic restrictions following an unprecedented episode of unrest in the country. Consequently, DXY fell 0.4% to 106.19. Nevertheless, two economic indicators sauntered through the door on Tuesday, missing expectations, and potentially weighing on risk sentiment.
• Meanwhile, flash euro zone inflation figures for November are due on Wednesday, with economists polled by Reuters expecting inflation to come in at 10.4% year-on-year. The key event, however, for Wednesday will be in the comments from Fed Chair Jerome Powell. These will be scrutinised for new signals on further tightening. The Fed is widely expected to hike rates by an additional 50 basis points when it meets on Dec. 13-14. WIRP suggests that is fully priced in, with around 15% odds of a larger 75 bp move. The swaps market is still pricing in a peak policy rate of 5.0%, with small odds of a 5.25% peak.
• The EUR/USD pair is trading near the 1.0330, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0400, break above this level will extend the advance to 1.0500.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 59. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

 

[CDO Markets]

• The EUR/USD jumped from weekly lows of 1.0290 as the Federal Reserve (Fed) Chair Jerome Powell acknowledged that moderation in the speed of interest rate increases might come as soon as the next meeting. That said, the Euro (EUR) is climbing, while the US Dollar Index (DXY) turned negative, dropping 0.42%. At the time of writing, the EUR/USD remains volatile, trading above 1.0400, still bullish in the daily chart.
• In some of his remarks, Fed Chair Jerome Powell said it “Makes sense to moderate pace of interest rate hikes,” adding that it could happen as soon as the December meeting. He said that the Federal Reserve has made substantial progress towards a “sufficiently restrictive policy,” though he added that there’s “more ground to cover.”
• Powell added that rates are more likely to rise “somewhat higher” than what policymakers estimated at the September meeting. He emphasized that rates would need to be higher “for some time.” The Fed Chair reiterated that inflation remains “far too high,” and even though the October CPI report was a “welcome surprise,” he needs more evidence that inflation is actually “declining.”
• The EUR/USD pair is trading near the 1.0415, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0500, break above this level will extend the advance to 1.0600.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 65. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

 

[CDO Markets]

Support Level: 1.0384-1.0320-1.0222
Resistance Level: 1.0510-1.0615-1.0740

EUR/USD - The Pair Is At The Highest Of The Last 5 Months…

On the last trading day of the week, the EURUSD parity, which managed to increase its gains in the European trading hour before the US Non-Farm Payrolls figures, rose above the 1.0510 band, which is the 50.0% fibonacci band of the 1.149-0.9535 decline. If the upward trend in the pair continues, 1.0615 and 1.0740, which is the 61.8% Fibonacci band, come to the fore as the next resistance zones. On the other hand, the 200-day exponential moving average will be the first important support area to follow in possible declines in the parity.

 

[Frano Grgić]

EURUSD Forecast –$1.07825 is the Monthly Target


The price formed a bearish Pin bar on a Monday and the price returned back down close to $1.02669 which is daily support level.

The price did not stay for too long because the demand zone around $1.02669 pushed the price up on Wednesday with a strong bullish candle.

We have monthly, weekly and daily time frame suggesting the price will continue to move up.

This move predicts future move to the upside and the next target for this month is $1.07825 as a next resistance for the price.

 

[Kabza12x]

EURUSD had bull run just in few four hour sessions where the price have reached resistance level.
That level is hard to break up and price formed two bearish Pinbar.

Daily time frame is showing bearish Pinbar. All those signals suggest we could see price moving down to the range area support level.
View attachment 7943

Thanks bro

 

[CDO Markets]

• EUR/USD keeps the optimism well and sound and advances to new highs near 1.0550, an area last seen back in late June. It regained the upward potentials post payroll release and ended the week at around 1.0530, still bullish in the daily chart.
• EUR/USD trimmed all of its losses after the release of the Nonfarm Payrolls showed the US economy added 263K jobs during November, surpassing initial estimates for a gain of 200K jobs. In addition, the October reading was also revised up to 284K (from 261K).
• In the meantime, the European currency is expected to closely follow dollar dynamics, the impact of the energy crisis on the region and the Fed-ECB divergence. In addition, markets repricing of a potential pivot in the Fed’s policy remains the exclusive driver of the pair’s price action for the time being. Back to the euro area, the increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon.
• The EUR/USD pair is trading near the 1.0530, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0600, break above this level will extend the advance to 1.0700.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 69. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0400 and below this level will open the gate to 1.0290.

 

[CDO Markets]

• The EUR/USD dropped near 1.0500 following comments from Russian President Putin. The Euro is among the weakest currencies of the American session. Earlier it peaked at 1.0549, the highest level in two days.
• Market sentiment deteriorated briefly after Russian President Vladimir Putin said the threat of nuclear war is on the rise. He added they have the most advanced weapons but they don’t want to use them. He considers it possible using nukes as a response to an attack.
• The US Treasury yield curve inverted the most in over forty years, amid concerns related to the global economic growth and uncertainty ahead of the looming US Federal Reserve monetary policy decision. Yields finished the day in the red, as demand for government bonds resurged following news coming from Russia. The 10-year note currently yields 3.43%, while the 2-year note pays 4.26%.
• The EUR/USD pair is trading near the 1.0505, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing far above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0600, break above this level will extend the advance to 1.0700.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 64. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0430 and below this level will open the gate to 1.0290.

 

[Frano Grgić]

EURUSD Forecast –$1.05825 is the Key Level for the Bulls

The price started to move up on Monday and it reached $1.05825 resistance level where the price bounced and returned down and closed the day below $1.05087.

On Friday the price bounced again from the $1.05825, but we need to have in mind that a Friday is the day when traders get out from their trading.

With $1.05087 as a support level we could see a price for a while between $1.05087 and $1.05825 because we have three resistance levels.

If the price manages to move above $1.05825 it will have an open road to $1.07825 which is the monthly and weekly resistance level.

 

[CDO Markets]

•EUR/USD has rallied heavily as the US Consumer Price Index has come in below expectations, leaving the door wide open for a pivot from the Federal Reserve that meets this week to decide on its monetary policy path. At the time of writing, EUR/USD is up on the day by over 1% and trading at 1.0630, bullish in the daily chart.
•As a consequence of the CPI data, the terminal Fed rate is now down to 4.86% vs 4.98% prior to the report which is weighing heavily on the US Dollar and US Treasury yields. DXY, an index that measures the US dollar vs. a basket of currencies fell to a low of 103.923 having been as high as 105.095 on the day as investors give a sigh of relief with the US benchmarks rallying - The Nasdaq jumped over 500 points.
•On Wednesday, the focus will be on the US Federal Reserve. The central bank is expected to hike rates by 50 bps and could anticipate the end of the tightening cycle. Chairman Jerome Powell has anticipated there’s a good chance the central bank will slow the pace of tightening as soon as in this meeting, and the encouraging inflation outcome for sure exacerbated the idea.
•The EUR/USD pair is trading near the 1.0637, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing far above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0670, break above this level will extend the advance to 1.0780.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 69. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0600 and below this level will open the gate to 1.0540.

 

[CDO Markets]

• The EUR/USD dropped toward 1.0620s after the Fed raised rates by 50 bps. However, it recovered all the losses after Fed Chair Powell's speech and ended Wednesday at around 1.0680, still bullish in the daily chart.
• The FOMC decided to hike the Federal Funds rate as expected toward the 4.25-4.50% range, acknowledging that the labor market remains tight and that inflation remains elevated, “reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.”
• Chairman Jerome Powell came out with hawkish comments. Among other things, Powell noted that the ultimate level of rates is more important than how fast they go, adding that the FOMC needs to hold rates at their peak until policymakers are "really confident" inflation comes down in a sustained way.
• The EUR/USD pair is trading near the 1.0680, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing far above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0700, break above this level will extend the advance to 1.0780.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 71. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0600 and below this level will open the gate to 1.0540.

 

[CDO Markets]

• The EUR/USD jumped to 1.0735, a fresh six-month high, during ECB Lagarde’s presser. It erases gains after Lagarde’s comments and turned its direction to downside and ended Thursday at around 1.0635, still bulish in the daily chart.
• The European Central Bank raises key interest rates by 50 basis points to the highest levels since 2009. In the statement, the ECB said it expects to keep rising rates as inflation “remains far too high”. During the press conference, ECB President Christine Lagarde signaled that the next rate hikes will continue to be of 50 basis points.
• In the US economic data came in mixed. On the positive side, Initial Jobless Claims dropped more than expected to 211K, the lowest level in weeks. Retail Sales in November fell by 0.6%, more than the 0.1% decline of market consensus. The Philly Fed recovered from -19.4 to -13.8. The Empire Index tumbled to -11.2 from 4.5. Industrial Production contracted 0.2% in November against expectations of a 0.1% expansion.
• The EUR/USD pair is trading near the 1.0635, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing far above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0670, break above this level will extend the advance to 1.0740.
• Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 65. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0590 and below this level will open the gate to 1.0500.