EURUSD Bulls vs. Bears – Who Will Win This Week?
EURUSD Bulls vs. Bears – Who Will Win This Week?
EURUSD Bulls vs. Bears – Who Will Win This Week?
EURUSD Bulls vs. Bears – Who Will Win This Week?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Upcoming Events
- US economic data (CPI, NFP, GDP) could drive volatility.
- ECB and Federal Reserve monetary policy decisions may influence trends.
- Market sentiment around inflation and interest rates will impact the Euro.
Dow Theory Analysis
- Recent price action shows a strong uptrend with higher highs and higher lows.
- Trend reversal from a long-term downtrend is confirmed.
- Volume confirmation: Increasing volume supports the upward movement.
Chart Pattern
- Breakout from consolidation with a strong bullish momentum.
- Possible flag or pennant formation indicating trend continuation.
- Resistance level near 1.0900; support at 1.0650.
Moving Averages Insights
- Price has broken above key moving averages (50, 100, and 200).
- 50-day MA crossing above 100-day and 200-day MA suggests bullish strength.
- The 200-day MA still trends downward, indicating long-term resistance.
Final Takeaway
- Bullish momentum is strong but RSI is overbought at 83, signaling potential retracement.
- Confirmation needed before entering new long positions.
- A pullback to support areas (1.0700-1.0650) could offer better entry opportunities.
Breakout Strategy (Bullish)
- Entry Above: 1.0900 | Stop Loss: 1.0850 (-0.46%)
- Target 1: 1.0950 (+0.46%) | Target 2: 1.1000 (+0.92%) | Target 3: 1.1100 (+1.93%)
- Trailing Stop: Adjust after reaching 1.0950.
Breakdown Strategy (Bearish)
- Entry Below: 1.0650 | Stop Loss: 1.0700 (+0.47%)
- Target 1: 1.0600 (-0.47%) | Target 2: 1.0550 (-0.94%) | Target 3: 1.0480 (-1.60%)
- Trailing Stop: Adjust after reaching 1.0600.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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