EURUSD technical daily analysis by GetKnowTrading

price reached higher levels like $1.06400 which was a high on the last bullish attempt.

After breaking above resistance levels the price returned down to $1.06736 and verified the level as a support.

We can see currency strength meter showing EUR much stronger than USD currency which is confirming the bulls strength.
EURUSD Daily Forecast 28_5_2022_1.png

And the price will likely test resistance and price around $1.08300 which is close to the monthly trendline.

$1.07825 is the first step and it is a base for bullish attempts to attack higher levels.
EURUSD Daily Forecast 28_5_2022.png
 

The price reached $1.07825 resistance and made a retrace back down to $1.06736 where it bounced back up, but returned down and broke below $1.06736 support level.

Next week we could see a price close to $1.06736 because the price closed the week below previous week close price and this week open price.

$1.06736 is now a base for buyers which they will defend and it will be a base for future moves to the higher price.

We now have $1.06736 as a support that will decide if the price moves down or up.
EURUSD Daily Forecast 4_6_2022.png
 

The price moved higher and reached a $1.07825 supply zone which was too hard to break.

From there the price returned down and formed a strong bearish engulfing candle that closed the day below previous weekly false breakout downwards.

Next week we could see a price close to $1.05825 which will be a breakout confirmation.

The possible level for the price to reach is $1.05600, which is high on the previous reversal attempts after sell off so we can expect the same reaction and target.
EURUSD Daily Forecast 11_6_2022.png
 

The demand around $1.03920 was a strong area and the price could not break further down.

On Friday we had a small bearish candle that had a wick below $1.05087 support level, but the day closed at the demand zone around $1.05087.

The price has closed the Friday below previous day candles bodies which is the first step to move further down.

But, as the market now looks at the weekly and monthly time frame the $1.03920 is still the next week target.
EURUSD Daily Forecast 18_6_2022.png
 

The $1.05087 and $1.05825 range is holding the price.

In the middle of the week we have a price trying to break outside of the range area above resistance $1.05825 level, but the price returned inside quickly.

We have now indecision for the price which must be defined by the breakout on the upside or downside.

The current support $1.05087 is stronger than $1.05825 as a resistance so this could be a decision factor next week.
EURUSD Daily Forecast 25_6_2022.png
 

On Monday the price had a false breakout from the range area to the upside where the next day the price returned back inside the range area.

On the last two days the price reached the previous two weeks target $1.03920 and bounced from the support.

If the price manages to close the day below $1.03920 then we would have price moving to long term target $1.02975.

If we take these three time frames into calculation the EURUSD price will move down around 200 pips from the current price.
EURUSD Daily Forecast 2_7_2022.png
 

On Monday we had an indecision candle where the bulls tried to push the price up, but the price closed the day close to the open price.

We can see the price has entered into the downtrend channel and reached the demand zone and bounced back to test the downtrend channel resistance line.

The pin bar has formed right on the support level which is weekly and monthly support that had retraced in the past.

We can use this price action signal on the support level and look for the exit on the first resistance at $1.02975.
EURUSD Daily Forecast 9_7_2022.png
 

The price has moved strongly down on Monday and on Tuesday the price reached parity.

The Friday closed above previous days bodies close so it is a small indication price could move upwards.

The price is now in the downtrend channel and supply zone above could push the price down.

A small retrace to the first resistance could be all that we could see from bulls.
EURUSD Daily Forecast 16_7_2022.png
 

The price on Monday has made a first step to make a breakout reaching first resistance level $1.01368 and breaking above with a wick

This was a small signal the price will reach a higher level because the small breakout from the previous week’s small range.

The next week’s target is to break above $1.02975 resistance level.

Because the price is right in the middle between support and resistance levels it is good to wait until the price reaches a lower level close to $1.01368
EURUSD Daily Forecast 23_7_2022.png
 

The price started with an indecision candle where the bulls and bears could not take the price to higher or lower levels.

On Tuesday the price strongly moved down making a breakout from the small range that has formed in the previous week.

On the upside we have $1.03600 as a bulls target where the price needs to break above $1.02660 to reach higher levels.

We have now a downtrend resistance line that is on the $1.02975 which will make small pressure on the price and prevent reaching higher levels.
EURUSD Daily Forecast 30_7_2022.png
 

We had a false breakout to the upside where the second candle had returned the price back inside the price range.

When the price reached the resistance line the price broke to the upside and closed the day above price range.

The price could reach $1.02000 level to find better support for future move up.

We now have a price between upper level of a price range and resistance level at $1.02975 which needs to define where the price will move.
EURUSD Daily Forecast 14_8_2022.png
 
EURUSD Daily Forecast 20_8_2022.png



At the end of the week strong selling pressure took the price below $1.01368 support and reached almost parity.

Small bounce back to $1.00700 is likely because this level is a small resistance level where price reacted when moving down.

Long term target is $0.99134 as a strong demand zone where the price will stop moving down.

For now we can expect $1.0000 as a first support and then $1.0070 as a first resistance level.
 

The first day of the trading week the price reached parity and on Tuesday it reached $0.99000

Both, bulls and bears, are pushing in the thier direction, but the last two days shows bulls trying to move the price higher.

In the next week I am expecting the price to make a breakout to the upside reaching $1.00400 which is above previous candle wicks.

From there we need to see will the price return down because of selling pressure or it will stall and try to break to higher levels.
EURUSD Daily Forecast 27_8_2022.png
 
The price broke out on Monday with a small bullish candle which continued for the next two days.

The price managed to reach the first small supply zone around $1.00570 and then stopped.

For the next week we need to wait for the price to make its way outside of the indecision area like this week.
EURUSD Daily Forecast 3_9_2022.png

If the price breaks out to the downside and the second candle closes below the first candle it will be indication of bearish pressure and price will mode to $0.96716 support level.

If we check currency strength meter we can see that USD strength is much stronger than EUR.
EURUSD Daily Forecast 3.9.2022 CSM.png
 
The breakout was a false one on Tuesday and what usually happens after a false breakout the price moved in the opposite direction.

Friday shows price decline after traders taking profits around $1.01368 who bought the price at the $0.99314 which activated a sell off returning the price down.

Next week we need to see the price above the small downtrend channel resistance line with daily close above which will allow price reaching $1.01368 level.
EURUSD Daily Forecast 11_9_2022.png


We can expect bearish candle at the confluence area of resistance with price targeting to reach the upper side of the current indecision area which is around $1.0000.
Currency strength meter
EURUSD Daily Forecast 11.9.2022 CSM.png
 

The price opened a week with a gap to the upside and reached the weekly target mentioned last week.

The strong bullish trigger to the upside pushed the price higher and the price reached $1.01960.

The price still needs to break above the small downtrend channel resistance line and small supply zone slightly above that resistance line.
EURUSD Daily Forecast 17_9_2022.png

And then the strong supply zone around $1.01368.
currency strength meter
EURUSD Daily Forecast 17.9.2022 CSM.png
 
On Monday the price formed a bullish candle with daily close above previous day candle close.

This was indication the price is continuing moving in the same direction as the previous week has ended.

The first small support and demand zone that will hold the price is $0.96000 price that acted as a support in the previous bearish attempt to reach lower levels.

From there we can expect the price to return back up and if the bulls are strong enough the price could reach the first supply zone at $0.98300.
EURUSD Daily Forecast 24_9_2022.png
 
The price reversed from that demand zone and formed a strong bullish engulfing candle that took the price back to downtrend channel resistance line which is a small confluence of resistance with supply zone at $0.98300.

Higher price level where we can expect the price is around $0.99134 which is the first strong resistance for the price.

On a weekly time frame and monthly time frame we have a price in between support and resistance level where a bullish scenario is likely on a short term.
EURUSD Daily Forecast 1_10_2022.png
 
Previous EURUSD forecast mentioned the price could reach $0.99134 and the price succeeded in the first two days.

With closing below support level and on Thursday testing $0,99134 as a resistance level it was a confirmation the price will move down.

The price is falling down and the next support is at $0.96716 where we have a demand zone where the sellers will get out.

The bounce from $0.96716 is likely to reach $0.97000 and then $0.98000 which are smaller resistance levels.
EURUSD Daily Forecast 8_10_2022..png
 

The price had indecision on Tuesday and Wednesday which shows sellers and buyers strength to move the price in their direction.

This shows a false breakout from the indecision area to the upside so we could expect a move to the downside at least to the $0.96716.

The daily overview shows that the price could return back down to $0.96716 support level, but there is no clear signal that the price has enough strength to move down below this support level.

This means if the price closes below on a daily time frame we will see the price heading down to $0.96000 which is the first support level.
EURUSD Daily Forecast 15_10_2022..png
 
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