- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Bulls could be about to make a serious move, but bears could pounce
EUR/USD Price Analysis: Bulls could be about to make a serious move, but bears could pounce
- EUR/USD short squeeze could be put on in the coming day/sessions.
- However, if the bears commit at a 38.2% or below 1.0625, then there will be prospects of a move into the 1.0580/70s.
EUR/USD is down low with respect to the prior day's range following three days of traders shorting the pair. The bias is bullish USD but a failed break of last week's lows could be a recipe for a sizeable correction to the upside for the days ahead. The following illustrates the week's template and prospects of a short squeeze following three days of shorts (S1, S2 & S3).
EUR/USD H4 chart
EUR/USD M15 chart
Will Thursday be the first day of longs, a higher close in other words, (L1)?
If so, the thesis for the day ahead would be to buy the dip depending on what session the opportunity comes in, if at all.
For the immediate future, we could see a downside extension as follows:
If the bears commit at a 38.2% or below 1.0625, then there will be prospects of a move into the 1.0580/70s for the sessions ahead.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
