EURUSD tehnikal analysis

[radex78]

EURUSD still move to continue bearish on yesterday market, the decline very sharply and formed long body candlestick, since the previous week the decline is more than hundred percent and still continue, Now RSI value on daily timeframe show level 32, its close to saturation decline, but not yet enter on oversold zone-based RSI, meanwhile BB line expanding assign increasing volatility on the daily timeframe.

Now take a look at short term H1 timeframe, the RSI level already enter the oversold zone, on 25, meanwhile, chart pattern formed correction time, correction target 1.13832, and when the breakout will leading pair move to more higher, but maybe still so hard to reversal long term, its possible the price continue to downtrend following the previous trend.

 

[radex78]

EURUSD still move to decline yesterday market, the pair continue to downtrend if looking price history, the decline included strong bearish market, but sometimes euphoria make forget minds, the trend is mot only one direction, sometimes reversal although in a small wave, strong trending market is rarely happening on EURUSD, maybe this is a sign if EUR facing bad economic condition on europe.

Look on the weekly timeframe, based on price history, there are so far distance to support zone, RSI value 30 as a red alert if price probably entering the oversold area, BB line expanding as indicates the trend increasing volatility

Daily high 1.13213
Daily low 1.13186

 

[radex78]

EURUSD still decline yesterday, the price success to formed new low on Wednesday market, in the past few days tendencies market on EURUSD still in bearish, based on long term price history, the decline occurs since June til;l now the trend still in bearish, now take a look on the H1 timeframe, the price move on correction times, yesterday market price success to push the price rise and formed pin bar candlestick

Based on Pin bar theory its there is a reversal power that makes the price will possibly reverse, but let see what happens later, the price is still in a consolidation phase, there is two possibilities, when breaking high range is possible to rise, but if break the low range possible continue bearish.

Current Daily low 1.13159
Current daily high is 1.13213

 

[radex78]

We can see if the price eventually move bullish and formed bulls candlestick yesterday, but the next question will arise, where the price then move to go, now we can see on H! timeframe, after price move to rise, then it's now weak, the price move on flat condition-based H1, its only small range price high to low, in demand and supply theory called as equilibrium area, buyer and seller no one able to dominant, then usually when the breakout occurs, the trend will clear to move if the price break high possible to continue bullish, but likewise if break low, probably will downtrend again.

Now we can use indicators to analyze the market RSI value on daily on 35. its line show to up, its bullish formation based RSI, meanwhile use MA 12, the price below the line indicates as downtrend, and based BB line now price at a lower band, but expanding line, my prediction price will rise today

 

[radex78]

Good morning, now already Monday has come, EURUSD occurs small gap and only we can see use small timeframe like M15, based on H1 timeframe now formed bearish pattern, my prediction Friday goes wrong because in fact the price break low and continue to decline, seems the European countries still face so many problems and cause the currency decline for long term.

the price still possible to continue bearish, but this is price level already on support zone based price history, using MA indicator on H1 the indicator show downtrend because the price is below the line, meanwhile RSI level now 36 as downtrend level not yet entered on the oversold zone, let see what happen later, now H1 show sell signal

 

[radex78]

The price eventually drops again yesterday continue to decline for a couple of months, I still think if Europe still so hard to get out from their economic problem and pandemic really impactful to economic growth, energy crisis also occurs there.

Back to technical analysis, on H1 price already break the previous low, its mean support zone already breakout and possible will become new resistance zone., RSI value 35 indicates a downtrend but not entering the oversold area, Moving average also shows a downtrend because the price is below the line, meanwhile the BB line expanding as indicates increasing volatility.

 

[radex78]

Yesterday market, the price indeed formed new low, but then there are buyer pressure and formed bulls candle, but the price not success to formed new high, so overall pattern still downtrend possible trend.

Based h1 timeframe, now the price move on midle band, this is correcton phase, because BB line formed flat line as sideways, meanwhile RSIi value 46 indicates if the price in downtrend zone but not yet enter on oversold area, if the price success to break 1.12480 there are possible to decline and target based lower band.

Daily low 1.12259
Daily high 1.12744

 

[radex78]

The price still continues to decline on yesterday market, price movement success to break low and formed new low as a continuation trend, if we take a look at the monthly timeframe, we will get the bigger picture about price pattern history. In this month, indeed the price move bearish very strong, maybe one reason is European countries still faced so many political and economic problem like corona outbreaks, crisis energy also become hot news during 2021, and issue about climate change may be also impacted to European zone.

Now go to the H1 timeframe, the price now move at 1.11925 price level, based on MA 12 the price still in a downtrend, because price below the line, meanwhile based Bollinger band, the price now try to closest middle band line, as the next resistance., RSI value 37 indicate if the trend is still having tendencies to bearish.

Daily high 1.12016
Daily low 1.11947

 

[radex78]

What happen on EURUSD, yesterday movement still formed inside the bar candle, the price move very slow and cant break the low, as a result, the price moved on the range and formed inside a bar, this is an indecision candle and doubt the market, but it possible if the price continues to break low then the price continues to decline,

Now using H1 timeframe, based Bollinger band indicator, the price move between the middle band and lower band, this is still on correction time, and possible the price will move to the upper band, in Friday market, sometimes movement randomly, RSI value 45 still indicate the downtrend, but the line steeps up as the bullish current market.

Daily high 1.12114
Daily low 1.12042

 

[radex78]

The price movement on early Monday, this morning I see there is no gap occurs on this pair, and we will realize if not always we can analyze the trend precisely, on Friday market, the pair move to rise and formed bulls candle, although before I think the price will break lown and continue to decline, but in fact is the opposite direction to move.

Now focus on the H1 timeframe, the pair move on the bullish pattern the price move above MA12 and BB line expanding as increasing volatility on Friday market, if we use monthly timeframe, the downturn already very deep, and close to lower band, maybe this will become next warning about reversal pattern, but the deep support based price history could on 1.10800, with RSI value monthly based at 45 levels, indicate downtrend not yet enter an oversold zone.