EURUSD technical daily analysis by GetKnowTrading

Fg43085

Junior member
48 2
On Monday the pair broke down from the confluence of support, but the day ended almost on the price the day started.

The price stopped on the strong support $1.17200 which is well known in the last few weeks.

From this level the price reversed back up on 20.08.2021. so we could see some price confluence here.

But, most likely the price is heading down, below $1.17200 towards $1.16180 which is now a strong confluence of support.
EURUSD Daily Forecast 18_09_2021.png
 

Fg43085

Junior member
48 2
The market did not move too far from the price it started the week which shows indecision in the market.

What we see here on the chart is the price having a hard time to break below $1.17200 which is not nothing strange.

Similar scenario was on 19.08.2021.

When the price broke below support level and returned quickly back above $1.17200.
EURUSD Daily Forecast 25_09_2021.png
 

Fg43085

Junior member
48 2
The whole week was bearish and only Friday was a small bullish candle.

Bears have overtaken the market and for the last three weeks they are dominating.

I am currently outside of the market until I see a better market constellation.

I am waiting for the price to reach $1.17200 for a bearish move with a price action signal or $1.14748 for bullish move.
EURUSD Daily Forecast 02_10_2021.png
 

Fg43085

Junior member
48 2
After breaking below $1.16187 in the previous week, the price made a small pullback to $1.16187.

That pullback was in the form of a small bullish candle which did not close above.

Bullish move could happen on the $1.14748 level which is a strong support.

At that level the sellers could get out from the market and allow the price to make a pullback up.
EURUSD Daily Forecast 09_10_2021.png
 

Fg43085

Junior member
48 2
The small support at $1.15462 was strong enough to stop the price from falling down to $1.14748 which is strong support for the price.

The market formed a bullish engulfing candle which shows bulls strength around $1.15462.

The price is now between two levels which showed strong pressure, $1.15462 with bulls and $1.16187 with bears pushing the price in the opposite direction.
EURUSD Daily Forecast 16_10_2021.png
 
 
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