EURUSD Trading for July 31, 2020 (11 ITM)

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EUR/USD Trading for July 31, 2020 (1/1 ITM)

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EURUSD Forex Chart

Ideas

You will learn the best place where we can trade EURUSD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea – that would be the best THANK YOU. Thank you for your support, I Love it.

Please support this idea with LIKE if you find it useful. Price is likely to form the Head & Shoulders pattern. We can initiate a short position if there is a confirmed rejection of the 200 MA or of the Resistance Trendline. Then we can initiate short on a breakout of the support trendline. Wait for confirmed signal, because the pattern can be invalidated.

Friends, please support my free works by clicking LIKE button. Reasons: – Price exit from range upward – Support Level 1.0830 $ – Resistance Level 1.0930 $ – I think price may continue to grow after at the least small pullback – To open position only after setup which you trade – Always do your own research before opening positions and always put SL If you have.

EURUSD has broken the Descending Channel and the 100H EMA as well. But, this is too early to confirm a change in trend. If the price falls below the 1.0860 level, bears will be back in action. However, a sustained break above the 100 hour EMA might indicate a change of trend in the near term. Either way, traders must wait and maintain a cautious approach now to.

many asked for EURUSD forecast. I did not, because now is not the best time to open a trade. The best entry points: 1) sell from the resistance line to the support line 2) From the support line to the resistance line. Everything on the chart is shown. Now it’s best to just wait for a good moment.

You will learn the best place where we can trade EURUSD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea – that would be the best THANK YOU. Thank you for your support, I Love it.

Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.0857). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURUSD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance.

Look for long trade upon the retest of the ascending trend line which align with the recent support and resistance level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage.

Please Support this Idea with LIKE if it is Useful. EURUSD The price broke above the trendline there is a chance that after a pullback price will continue moving up,wait for the price to reach the zone and if price holds the support and if price gives any bullish signal then look for buy opportunity.. For Entry: Wait for the formation of Bullish Candlestick.

EURUSD: Descending channel pattern with breakout- LONG 1.Double bottom 2.Channel Breakout 3.Engulf candle broke out the channel and closed outside Thank you for your likes and support! Good Luck!

Hello guys! Looking for nice entry near Buy Zone If the market will reverse from current resistance, we should use the buy zone for entry. Why suggesting this zone? Good R/R ratio and tight stop loss range. Please calculate your stop loss according to your risk limits. Plan B we can see breakout from resistance. If this will be realised. I think we need to buy.

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EURUSD* The technical cross-section**: Trend: 0 A strength of trend: -3 Overbought/oversold: none The priority area of transactions: selling Selling in the area of 1,1000 with a stop above 1,1050 and a profit in area 1,0860. Selling in the area of 1,1140 with a stop above 1,1190 and a profit in area 1,1060. Buying in the area of 1,0790 with a stop below.

��Hi guys!�� ��The Forex market has been very pleasantly surprising me lately. �� ����Euro-dollar likes many traders. Let’s look at the hourly chart. It shows very good growth. You may see ones more falldown to 1.08446, but then I expect the growth to the strong level of resistance. ⁉Guys, tell me, do you share my opinion?⁉ ✍��✍��✍��If not, write me about it too! If.

Under that heading we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information.

Watch lower time frame correction and buy on Breakout. ThankYOu

EURUSD Wait to buy!! Good luck ,Guys, if you like the idea please put like button, this will be the best thanks. Thank you for your support, I appreciate it.

Price action is impulsive, I assume a higher high before price reverses into a larger correction (will update then).

Take profit at 141 fib level However if price breaks the floor wait for a pullback and sell back to where price broke from

Technicals

Profile

EUR USD (Euro / US Dollar)

The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

EUR/USD Rate Forecast: 2020 Opening Range in Focus

EUR/USD Rate Talking Points

EUR/USD extends the correction from the first week of December even though the European Central Bank (ECB) expands its balance sheet by EUR 20B/month, and the yearly opening range in focus as the exchange rate carves a series of higher highs and lows.

EUR/USD Rate Forecast: 2020 Opening Range in Focus

EUR/USD sits a few pips away from the August high (1.1250) as the ECB conducts a strategic review for the first time since 2003, and it seems as though the Governing Council is in no rush to further insulate the monetary union as the central bank insists that “t he implementation of structural policies in euro area countries needs to be substantially stepped up to boost euro area productivity and growth potential .”

The comments suggest the ECB will call on European lawmakers to support the economy as the central bank argues that “g overnments with fiscal space should be ready to act in an effective and timely manner .” In turn, the ECB may merely attempt to buy time at the next meeting on January 23 as “t he comprehensive package of policy measures that the Governing Council decided in September provides substantial monetary stimulus .”

Nevertheless, the ECB’s language is likely to evolve over the coming months as President Christine Lagarde asserts that “ each and every President has his or her own style of communicating ,” and it remains to be seen if the Governing Council will alter the forward guidance in 2020 as the downside risks surrounding the growth outlook “ have become somewhat less pronounced .”

However, the ongoing shift in US trade policy may become a growing concern for the ECB as the Office of the United States Trade Representative (USTR) initiates “ a process to assess increasing the tariff rates and subjecting additional EU products to the tariffs . ”

As a result, the ECB could be forced to revisit its rate easing cycle as “ the Governing Council continues to stand ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner .”

With that said, the Euro may face headwinds in 2020 as the ECB relies on its non-standard measures to achieve its one and only mandate for price stability, but recent price action raises the scope for a larger correction in EUR/USD as the exchange rate carves a series of higher highs and lows.

Sign up and join DailyFX Currency Strategist David Song LIVE for an opportunity to discuss key themes and potential trade setups surrounding foreign exchange markets.

EUR/USD Rate Daily Chart

  • The broader outlook for EUR/USD remains tilted to the downside as the exchange rate clears the May-low (1.1107) following the Federal Reserve rate cut in July, with Euro Dollar trading to a fresh yearly-low (1.0879) in October.
  • Keep in mind, the monthly opening range has been a key dynamic for EUR/USD in the fourth quarter of 2020 as the exchange rate carved a major low on October 1, with monthly high for November occurring during the first full week of the month, while the low for December happened on the first day of the month.
  • As a result, the yearly opening range is in focus for EUR/USD, but the correction from the 2020 low (1.0879) may continue to unfold as the exchange rate carves a series of higher highs and lows.
  • The break/close above the Fibonacci overlap around 1.1190 (38.2% retracement) to 1.1220 (78.6% retracement) brings the 1.1270 (50% expansion) to 1.1290 (61.8% expansion) region on the radar, with the next area of interest coming in around 1.1340 (38.2% expansion).
  • Will keep a close eye on the Relative Strength Index (RSI) as it approaches overbought territory, with a move above 70 raising the scope for a larger correction in EUR/USD as the bullish momentum gathers pace.

For more in-depth analysis, check out the 1 Q 20 20 Forecast for Euro

Additional Trading Resources

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— Written by David Song, Currency Strategist

EUR/USD, USD/CAD, USD/JPY Outlook: US Dollar Trader Positioning

EUR/USD, USD/CAD, USD/JPY, US Dollar, IG Client Sentiment – Talking Points

  • US Dollar holding fairly steady despite aggressive easing from the Fed
  • Trader bets favor EUR/USD upside, USD/CAD & USD/JPY downside
  • EUR/USD, USD/CAD technical picture points higher. USD/JPY lower

How Can Trader Positioning Impact the Outlook for the US Dollar?

In this week’s session, I covered a broad sweep of the US Dollar and what the outlook could be in EUR/USD, USD/CAD and USD/JPY using IG Client Sentiment. This follows an emergency Fed 50-bp rate cut to support local growth amid the coronavirus outbreak ahead of the Bank of Canada later today. Lately, the haven-linked US Dollar has been stalling, but what can trader positioning reveal about the path forward from here?

EUR/USD Sentiment Outlook

According to IGCS at the time of recording, about 35.41% of EUR/USD traders were net long. This followed a 60.87% rise in short bets from last week, speaking to a greater share of investors attempting to pick the top in the currency pair. Traders are further net short than yesterday and last week, and the combination of current sentiment and recent changes offers a stronger EUR/USD-bullish contrarian trading bias

EUR/USD Technical Analysis

From a technical standpoint, EUR/USD remains in an aggressive short-term uptrend from the end of February. This followed a push above key falling resistance from December. Resuming gains entails taking out peaks from the end of last year. That places resistance as the psychological barrier between 1.1213 to 1.1239. Taking out the latter exposes highs from July.

EUR/USD Daily Chart

USD/CAD Sentiment Outlook

At the time of this writing, about 32% of USD/CAD traders were net long . This is down from a roughly 74% upside bias since January when the currency pair found a bottom. However, recent changes in positioning are hinting that USD/CAD could turn lower. That would speak to a greater share of traders starting to pick the bottom in the event prices decline in the near-term.

USD/CAD Technical Analysis

USD/CAD struggled to maintain a push above key resistance which is the psychological barrier between 1.339 to 1.3383. Yet, the uptrend from the beginning of this year is being maintained by rising support – red line on the chart below. In the event of a turn lower, as forecasted in IGCS, this trend line may stem a selloff. A further daily close under 1.3202 may shift the near-term technical bias to the downside.

USD/CAD Daily Chart

USD/JPY Sentiment Outlook

According to IGCS , about 63% of USD/JPY traders are net long. This is a material uptake from just under a 35% upside bias in late February. Since then, prices have declined over 4.2% as a larger share of investors attempted to pick the turning point in the pair’s downtrend. From here, the IGCS outlook remains bearish given recent changes over a day-to-day and week-to-week basis.

USD/JPY Technical Analysis

From a technical standpoint, the USD/JPY outlook remains bearish. Prices managed to confirm a downside breakout through key rising support from August. Resuming the downtrend entails taking out lows from October which form a barrier of support between 106.48 to 106.84. Taking out the latter would then expose 2020 lows.

USD/JPY Daily Chart

*IG Client Sentiment Charts and Positioning Data Used from March 3 Report

— Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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