Annual Forecast for EURUSD (2022)

Updated:

EURUSD Annual Forecast – The Market Is Expected to Rebound to 1.1650

The annual forecast for EURUSD is towards the 1.1650 resistance zone. The year 2020 was bullish on the EURUSD market. The euro currency gained strength against the dollar. The contrary was the case in the year 2021. The previous year was bearish for EURUSD. The dollar regained strength as the euro fell in value against the dollar. In 2020, the year started with a three-month-old consolidation. The month of March was seen to create a false breakout of the zone. There was a false breakout higher and also below the zone. Afterward, the major volume of the monthly candles fell within the range as their wicks spiked below.


EURUSD Major Zones

Resistance zone: 1.2250, 1.1200
Support zone: 1.1650, 1.0900

Annual Forecast for EURUSD (2022)EURUSD Long Term Plan: Bullish

The first of May initiated a bullish move that successfully broke out of the zone in June. The bullish move was not resisted for four consecutive months in 2020. The market retraced into the 1.1650 demand zone. The bullish trend was maintained as the price bounced around the 1.1650 level. The bullish move finally got exhausted upon reaching the 1.2250 zone.

A reversal sign formed below the 1.2250 zone. The Moving Average crossed to the upper side of the monthly candles. A double top led to the bearish move. The neckline was broken in September. The price has dropped rapidly. The previous resistance zone at 1.1200 was tested. Two bullish candles have formed after the bounce on 1.1200. The Stochastic is showing an oversold market. The market is expected to rebound to 1.1650 on the monthly chart.

Annual Forecast for EURUSD (2022)EURUSD Medium Term Plan: Bullish

The Stochastic was oversold in November when the bullish candle tested the previous resistant zone at 1.1200. The previous resistance zone is currently acting as a support zone.
The moving average has switched positions to support the candles on the weekly time frame. The bullish move from the 1.1200 zone is expected to continue into the 1.1650 resistance zone.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURUSD Is Consolidating Between Key Levels

Updated:

EURUSD Price Analysis – January 10

EURUSD is consolidating between key levels at 1.1380 and 1.1230. The market has been faced with overall weaknesses. At the end of August and into early September, the market was overbought. This stochastic reveals that the market was ready to go short. The 9 moving average crossed above the daily candles to sink the price.


EURUSD Major Key Levels

Resistance levels: 1.1680, 1.1380
Support levels: 1.1530, 1.1230

EURUSD is consolidating between key levelsEURUSD Long Term Trend: Bearish

The market was consolidating between 1.1680 and 1.1530. The consolidation lasted all through October and into early November. The bulls stormed the market heavily on the 10th of November and broke through the defended demand zone at 1.1530. The Moving Average period 9 led the market to the 1.1230 level.

The bulls tried to regain control of the market. The bullish move was halted suddenly at the 1.1380 key level on the 30th of November. The second phase of consolidation in the last quarter of the year was initiated. The rejection at the key level is spotted with a sharp wick above the bullish candle. The bulls and bears have been at break even with consolidation between the 1.1380 and 1.1230 levels.

EURUSD is consolidating between key levelsEURUSD Short Term Trend: Ranging

The Moving Average on the daily is resting around the midpoint of the key levels between 1.1380 and 1.1230. This is also similar to the four-hour chart. The stochastic on the four-hour chart has moved from the oversold region. This is seen with bearish candles. The bearish move is likely to pause halfway. The price might also seek support at 1.1230.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/USD Begins 2022 on a Quiet Tone Despite Bullish Dollar

Updated:

The opening week of 2022 came with some surprises for the forex market but made little dent on the euro/dollar pair. The most notable shocker came after the US Federal Reserve, according to the released Minutes from its December meeting, noted that it plans to taper its bond holdings over the coming months.

The US Fed’s balance sheet currently comprises roughly $8.3 trillion in Treasuries and mortgage-backed securities. The minutes read that: “Almost all participants agreed that it would likely be appropriate to initiate balance sheet runoff at some point after the first increase in the target range for the federal funds rate.”

The apex bank also believed that the conditions for a rate hike are ripe and it could act accordingly in the coming months if the pace of recovery in the labor market maintained its current trajectory. However, the market received the release of a worse-than-expected Nonfarm Payroll for December 2021. The data showed that the US economy minted 199,000 new jobs in December, half of what analysts expected.

On the other hand, the Unemployment Rate came out better-than-expected, contracting to 3.9% from 4.2% in the previous month. While many did not perceive this data as special or worthy of note, the Fed considered it good enough.

Dollar Posts Healthy Recovery Amid Positive US Economic Docket

Meanwhile, the December minutes indicated that policymakers were more concerned about the nation’s inflation rate than they were letting off with their reaction to the government bond yields. That said, the report caused some serious damage for Wall Street as the dollar (Greenback) recovered significantly from its previous losses. The NFP data also exerted bearish pressure on the equities front, further boosting the dollar.

In other news, Eurozone inflation maintained an upward trajectory as it increased by 5% YoY in December, its highest level on record since it recorded 4.9% in the previous months.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURUSD Is Trapped Between Major Levels

Updated:

EURUSD Price Analysis – December 3

EURUSD is trapped in a ranging market between major zones. The price is now moving sideways without a defined direction on the daily time frame. The market is seen to continuously form corrections after impulses. During October into mid-November, the market was in consolidation. The major levels formed resistance and support at 1.1680 and 1.1530.


EURUSD Major Levels

Resistance Level: 1.1680, 1.1380
Support Level: 1.1530, 1.1230

EURUSD Is Trapped Between Major LevelsEURUSD Long Term Trend: Bearish

After consolidation within major levels till mid-November, an impulse plunged the price below the support zone at 1.1530. The market sank till it reached 1.1230. The market is trapped as it has failed to breach the 1.1380 and 1.1230 levels. The strength of the bears and the bulls is almost even; hence, there is no prominent direction.

The Moving Averages 9 and 21 have also crossed sideways multiple times on the daily chart. The major levels at 1.1380 and 1.1230 have formed strong resistance and support. The month of December was completely directionless for EURUSD.

EURUSD Is Trapped Between Major LevelsEURUSD Long Term Trend: Ranging

The relative strength index shows the market has moved from the floor of the range at 1.1230 to the top at 1.1380. The last day of December struck the resistance level at 1.1380. The bears are currently driving the price back to 1.1230. This is seen with three consecutive bullish candles on the four-hour chart. EURUSD is trapped within the major levels.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/USD Well Supported Above 1.1300 in Controlled, Holiday-Slimmed Trading Conditions

Updated:

EUR/USD, currently bought and sold below the tops of the week around 1.1330, during controlled, holiday slimmed trading situations.

The market was traded with a moderate positive bias this week in the midst of big risk situations, which looks very heavy and seems to be properly held in place above 1.1330. Truly, the 21-day moving average settles here, as the moving sessions having presented good support in recent sessions

What the New Year Holds for EUR/USD
Like strategists have speculated, EUR/USD still sells well between the range 1.1240 – 1.1360, and this has dominated for most of the month. This range might remain as it is, till we begin the New Year and market resume in full and volumes goes back to normal. Truly, the first week of the new year will be a hectic one due to the release of the U.S. jobs report and ISM manufacturing and surveys of service PMI. We have very little US data of note aside from the normal jobless report on Thursdays. The economic calendar of the Eurozone is a bit interesting with the preliminary guess if December’s HCIP is scheduled for release by Thursday.

Technically examining EUR/USD, the quote seems to be heading for last’s week high around the 1.1340s, above which will bring in a focus of testing December highs within the range 1.1360 – 1.1380s. Truly the price seems to form an upward moving triangle during the later stage of the month, which mostly indicates an upward market movement is in sight. If the upward trendline is broken to the downside, this will give a downward market movement sign indicating that EUR/USD will go lower than the 1.1300 level.

You can purchase crypto coins here:  Buy coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURUSD Is Indecisive as It Remains Confined Between Key Levels

Updated:

EURUSD Price Analysis – December 28

EURUSD is indecisive as it remains confined in consolidation above the 1.12020 significant level. EURUSD is being confined from above by the 1.13840 resistance level. The market remains indecisive as to whether to effect a U-turn or plunge further. Sellers and buyers, therefore, can be said to be at loggerheads as neither has a greater influence in the market.


EURUSD Key Levels

Resistance Levels: 1.13840, 1.22620
Support Levels: 1.09900, 1.12020

EURUSD is indecisiveEURUSD Long Term Trend: Ranging

EURUSD dropped after striking 1.22620 for the second time within the space of two months. This led to a double top bearish price pattern. What follows is a severe plunge in the market in which several key levels were violated. Price, however, found resistance going downward at 1.17130, which is the neckline of the double top formation. There was also an unsuccessful resistance to the market drop at 1.15180.

Buyers will eventually put a stop to the market’s fall at 1.12020 as they confront the sellers with equal strength. The result is that the price has been indecisive for more than a month, ranging between 1.13840 and 1.12020. While the EFI (Elders Force Index) essentially shows market equilibrium, there is currently a bias towards the bulls as the power line remains at a positive value.

EURUSD is indecisive EURUSD Short Term Trend: Ranging

On the 4-hours chart, EURUSD maintains its indecisive trend as it keeps moving sideways with miniature candlesticks. Just like on the daily chart, the EFI indicator is giving a bias to the bulls amidst market equilibrium. This sentiment is also echoed by the RSI (Relative Strength Index), which is hovering above the zero level from a bullish position. Market forces could shake up the price dormancy and push it to 1.15180.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/USD Is Recovering Above Level 1.1190, Faces Rejection at 1.1350

Updated:

EUR/USD Significant Levels
Resistance Levels: 1.1800, 1.2000, and 1.2200
Support Levels: 1.1300, 1.1200 and 1.1100

EUR/USD Price Long-term Trend: Bearish
EUR/USD is in a downtrend but it faces rejection at 1.1350. On December 13, the market declined to level 1.1221 as bulls bought the dips. The currency pair is resuming upward after the last bearish impulse. Similarly, on June 15, the currency pair reached the low of 1.1168 and it rebounded above the current support. The EURO rallied to level 1.2000 and later reached the high of 1.2200. Meanwhile, on the August 16 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement. The price action of EUR/USD has retested the 1.618 Fibonacci extension or level 1.1329. The market reached level 1.1221 and resumed upward.

EUR/USD Is Recovering Above Level 1.1190, Faces Rejection at 1.1350
EUR/USD – Weekly Chart

Daily Chart Indicators Reading as Pair Looks Oversold:
EUR/USD has fallen below 20% range of the daily stochastic. It implies that the pair has reached bearish exhaustion. We expect EUR/USD to rise on the upside.. For the EURO to be out of downward correction, buyers will have to push the pair above level 1.1800.

EUR/USD Medium-term Trend: Bearish
On the Daily chart, the currency pair is in a downward move. On November 24, the market declined to level 1.1186 as bulls bought the dips. Since November 24, the downtrend has been interrupted because the market has reached the oversold region. The pair is attempting to resume upward as bulls break above the 21-day line moving average.

 EUR/USD Is Recovering Above Level 1.1190, Faces Rejection at 1.1350
EUR/USD – Daily Chart

Daily Chart Indicators Reading
The pair has risen to level 47 of the Relative Strength Index for period 14. It indicates that the market is rising as it approaches the uptrend zone. The currency price is above the 21-day line moving average but below 50-day line moving average. It implies that the pair may resume a range-bound move

General Outlook for EUR/USD
EUR/USD is recovering after falling to the oversold region of the market but faces rejection at 1.1350. The current uptrend is facing resistance at level 1.1340. Buyers have faced three rejections at the recent high.

You can purchase crypto coins here: Buy Coins


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/USD Advances Towards 1.1300, as Dollar Stalls Ahead of Fed Meeting

Updated:

EUR/USD traded on an upbeat sentiment on Wednesday as the dollar (DXY) repositions ahead of the Fed verdict. Meanwhile, “Super Thursday” will play a critical role in the euro’s near-term price action due to the upcoming ECB meeting. That said, central bank divergence themes will drive the near-term price direction for the pair.

The EUR/USD recently recorded a bounce off the 1.1250 support and aims to tap the 1.1300 and 1.1350 after that.

US Dollar Could Spike on Favorable Fed Outcome

At press time, ‘fiber’ trades at 1.1275 as the EUR picks up some bullish steam. However, the outcome of this week’s central bank meeting could strengthen the dollar significantly depending on decisions and comments made.

Meanwhile, the US Producer-Price index rose by 0.8% in November, indicating that inflation in the US could remain at high levels well into 2022. However, with the surprising recording of +9.6% YoY, US yields jumped with the report and exceeded forecasts, and recorded their highest stride since the major change in the index in 2009. The 2-year government bond increased by 0.02%, from 0.64% to 0.66%, while the 10-year bond yields grew from 1.42% to 1.44%.

That said, speculators expect Fed policymakers to announce an acceleration of the winddown of monthly bond purchases as inflation blows hot.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/USD Consolidates Above Level 1.1250 as Pair Looks Oversold

Updated:

EUR/USD Significant Levels
Resistance Levels: 1.1800, 1.2000, and 1.2200
Support Levels: 1.1300, 1.1200 and 1.1100

EUR/USD Price Long-term Trend: Bearish
EUR/USD has been in a downtrend since June as pair looks oversold. Buyers have pushed the currency pair to its peak price of level 1.2200 on December 14, 2020. The pair dropped to level 1.1704 because the market reached an overbought region. EUR/USD resumed a fresh uptrend and retested the previous peak price. This resulted in the formation of a bearish double top. This bearish pattern is responsible for the current downtrend. Today, the pair has fallen to level 1.1278 as the market reaches the oversold region. Meanwhile, on the August 16 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement. The retracement indicates that EUR/USD is likely to fall to level 1.618 Fibonacci extension or level 1.1320. From the price action, the pair is consolidating above the Fibonacci level.

EUR/USD Consolidates Above Level 1.1250 as Pair Looks Oversold
EUR/USD – Weekly Chart

Daily Chart Indicators Reading as Pair Looks Oversold:
EUR/USD has fallen to level 29 of the Relative Strength Index for period 14. The implication is that selling pressure has reached bearish exhaustion. There is a likelihood of a trend reversal. That is, buyers are likely to emerge in the oversold region of the market. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

EUR/USD Medium-term Trend: Bearish
On the Daily chart, the currency price is making a series of lower highs and lower lowers. The pair made a lower low of 1.1180 and pulled back. Meanwhile, on August 19 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement. The retracement indicates that EUR/USD is likely to fall to level 1.618 Fibonacci extension or level 1.1305.

EUR/USD Consolidates Above Level 1.1250 as Pair Looks Oversold
EUR/USD – Daily Chart

4-hour Chart Indicators Reading
The pair is below the 20% range of the daily stochastic. The Pound is in the oversold region. The 21-day and 50-day SMAs are sloping downward indicating the downtrend. The market is below the 50% range of the daily stochastic. It is in a bearish momentum.

General Outlook for EUR/USD
EUR/USD has reached the oversold region of the market as pair looks oversold. Since November 15, the pair has been consolidating above level 1.1250. The uptrend will resume is the current support holds.


You can purchase crypto coins here: Buy Coins


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURUSD Bulls Make Significant Market Moves to End the Bearish Regime

Updated:

EURUSD Price Analysis – December 7

EURUSD Bulls make a significant market movement to put an end to the ongoing bearish regime. Having tried unsuccessfully to stop the bearish regime at different price stops, buyers have raised yet another stop to prevent the market from falling further. As the price falls to the significant level of 1.03680, EURUSD makes a bullish engulfment candlestick to reach 1.04450.


EURUSD Significant Levels

Resistance Levels: 1.08930, 1.07390, 1.05890
Support Levels: 1.03680, 1.04450, 1.05400

EURUSD Bulls makeEURUSD Long Term Trend: Bullish

The bearish regime began after the bulls tried to raise the market. However, rejection at 1.09320 sent the price spiraling downward even harder. A strong critical level of 1.08200 did not even hinder the EURUSD for long before it dropped lower. The market crashed through several price levels, including key holding zones at 1.07010 and 1.05400. It was assumed that 1.04450 would halt the market’s fall, but it failed as well.

On the 26th of November, the price drops below the 1.04450 holding level and slides along the middle line of the descending channel to reach 1.03680. It is assumed that there is finally a hold of the bulls in the market as a bullish engulfment candle tries to drive the price out above the descending channel. The ATR (Average True Range) indicator shows that despite price declines, there has been a steady increase in market volatility, which bulls are taking advantage of.

EURUSD Bulls make EURUSD Long Term Trend: Bearish

The 4-hour chart shows much progress from the buyers. The price broke upwards of the channel but met resistance at 1.04450 to drop back into the channel. In so doing, the RSI (Relative Strength Index) has its signal line rise above the 50 mark and then drop back below it.

Bulls are expected to hit harder a second time in the market to cause a price reversal. 1.05040 is the target.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.