General EURUSD Chart Analysis

[Frano Grgić]

Very new to this forum. I like the simplicity of your analysis. What time do you normally post your analysis on this forum. Thank you.

You are welcome.
You can see, I am here on weekly basis.

 

[broskibroski]

Does EURUSD, GBPUSD, NZDUSD and AUDUSD all move the same? Because thats something that I've noticed

 

[MusBlessed]

Great analysis. I wish there would be an analysis for XAUUSD also like this one

 

[dadangkumala]

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

nice

 

[Ogba]

Great analysis. That means we wait and do nothing until you are sure of the next line of movement.

 

[kennyhoang]

thank you much for your very simple chart to look at. btw I'm buying EU now - is it ok?

 

[Frano Grgić]

In the analysis from the last week I said that the market does not look too bullish that would move the price easily up to $1.19000. The market overview shows just that.

The pip range this week was 80 pips and it means that the price was in the indecision area. The middle of the range area between $1.17000 and $1.19000 is still holding the price from large movements.

I am expecting the price will try to break above $1.19000, but before doing that it could make a pullback to the area between $1.18150 – $1.18200 which is the current support that held the price two times this week.

 

[Frano Grgić]

Great analysis. That means we wait and do nothing until you are sure of the next line of movement.

Yes, That is what I have done. There were no clear signal for entering into the trade.

 

[Frano Grgić]

thank you much for your very simple chart to look at. btw I'm buying EU now - is it ok?

You are welcome.

I cannot tell you what to do. You should do your own analysis and make a decision based on that.

If the chart and analysis can help that is great. I am not a financial advisor so I cannot suggest what to do. Sorry.

 

[Frano Grgić]

The market week behind us has done a huge move forward. The price has done two things I have mentioned in the previous week forecast.

The price:

Made a pullback to $1.18150 – $1.18200 area
Bounced back above $1.19000

New highs for EURUSD are in this order.
First high is around $1.20800 where the price will probably stop and make a pullback. This level acted in the past as a strong resistance.

On the chart it is visible that the uptrend channel resistance line is making a confluence of resistance at that area together with the horizontal resistance line.

 

[elijah4u]

eur usd is a very fine pair and my best pair i trade with, more pips more money...

 

[Frano Grgić]

After reaching the $1.20000 level the price bounced down as a reaction to strong sellers and buyers who took the profits.
Strong resistance level acted as a strong psychological level(round number) that forced buyers to exit and sellers to enter.

At the $1.20800 level price could find support to move higher and head towards $1.25000.

The first resistance level that is stopping the price reaching $1.25000 is $1.22845. It is an area around $1.3000 level.

 

[Frano Grgić]

eur usd is a very fine pair and my best pair i trade with, more pips more money...

Yea, you are right.

It is good and it respects support and resistance levels.

 

[Frano Grgić]

EURUSD chart shows the price behaviour in the previous week. What is visible is the price pullback from $1.21793 to $1.20800 which is the first support level.

The daily close of Thursday candle was not above previous daily candles close, $1.21430 level, which is now an important resistance level to break in order to continue moving up.

I am bullish oriented for now until the price is above $1.20000 and until the price reaches $1.25000.

 

[jerrymarvis]

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

Wooow, this is awesome, I like it

 

[Frano Grgić]

Wooow, this is awesome, I like it

thank you

 

[Frano Grgić]

At the beginning of the week the price has stalled at that level. The price returned back to the previous uptrend channel resistance line and then bounced back up.
The next day, on Tuesday, the price made an indecision candle, but the candle closed with price above $1.21430.

The next week will be a slow week due to holiday, but I am expecting the price to reach the $1.25000 level eventually.
The next resistance will be again on the $1.22845 and after that $1.24000. What we can see is that the price for now does not have any strong resistance except $1.24000 level.

 

[bobby2212]

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 you for analysis sir

 

[Adeusi2011]

While the bearish Pinbar have pushed the price back from the resistance level first support where it could find bull pressure is around 1.09550 level and 1.09220 level. There are smaller support level that could make small impact.

Larger support that price could reach if continues to go more down is upper side of the range area. Upper side from 1.08846 to 1.09028.

View attachment 7960

this eurusd is the most volatile currency of all currency.

 

[Frano Grgić]

In the previous week forecast I have mentioned that the pair could make a retrace back to $1.21793 which happened already on Tuesday.

The price retraced back strongly and formed a bullish Pinbar. The Pinbar shows us that the market is still supported with strong buyers waiting on the support level. The $1.21793 level is a confluence of support.

The market is moving steadily to the upside. The resistance levels are $1.22845 and $1.24000 which will hold the price from reaching $1.25000.