Trading plan EUR USD

EURUSD Technical

EURUSD continues the incredible breakout – eyes the session high! Check out our EURUSD technical!

EUR USD trading plan

In this article we will guide you and show you through our EURUSD technical analysis.

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Weekly has three targets. The first target is at 1.22535 – 445 pips above the current position; the second target is at 1.21242 – 316 pips above the current position; the third target is at 1.18321 – 22 pips above the current position. The rsi is just below the sell zone indicating further up movement from this pair. Confirmation of this pair heading up is needed before placing a buy trade in this time frame.

EUR USD Weekly April 5 2021
EUR USD Weekly April 5 2021

Daily shows three targets. The first target is at 1.19974 – 186 pips above the current position; the second target is at 1.18764 – 67 pips above the current position; the third target is at 1.17887 – 25 pips below the current position. The rsi is in the middle pointing up to the sell zone indicating further up movement from this pair to come. Confirmation of this pair moving up is needed before placing a buy trade in this time frame.

EURUSD Daily April 5 2021
EURUSD Daily April 5 2021

Traders with profits with the EURUSD

If you are following “Rocket Fund” on Zulutrade you have probably noticed that he is trading a lot with the EURUSD currency pair.


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He claims to trade mostly on the 1 Hour charts. Two major reasons why Rocket Fund likes trading the EURUSD on 1 Hour charts are:

  • that it is the most liquid forex market pair with two major economies.
  • and it has tighter spreads then other forex pairs.
Rocket Fund trader on zulutrade
EUR USD is RocketFund’s most popular currency pair on ZuluTrade, He opened another buy trade on the 9th of June

Do you have any questions regarding EURUSD technical?

We want to assist you with the trading and we can analyse any currency pair for you. Do you follow any traders and are not convinced if they are trading as normal? Let us have a look at it. Forex and profits is all about helping each other out, and making ourselves more confident as a trader. Write to us on Facebook and join our Telegram group.

EURUSD in the news

Daily FX/IG.com

Euro has rallied nearly 5% off the November lows against the US Dollar with a breakout in EUR/USD stretching to fresh yearly highs into the December open. The breakout is a manifestation of the 2020 opening-range breakout registered back in July and while the outlook remains weighted to the topside, waning sentiment warns of possible exhaustion in the weeks ahead.

The euro is beginning to crack down, according to FX Street.
EUR/USD Forecast for June 16th, 2020

 Prepared by Michael Boutros, Technical Strategist; EUR/USD on Tradingview

EUR/USD had, “reversed off confluence downtrend resistance with the decline now approaching lateral support near the 1.16-handle.” Price registered a low at 1.1602 before marking an outside-weekly reversal with the subsequent rally breaking to multi-year highs into the December open.

The breakout is now testing initial resistance at the 78.6% Fibonacci retracement of the 2018 decline at 1.2148 with momentum still marking weekly divergence with the September highs. A topside breach / close above this level keeps the focus on subsequent objectives at channel / parallel resistance (red- currently near 1.2220s) backed by the 88.6% retracement at 1.23378 and the 2018 high-week close at 1.2409– both levels of interest for possible topside exhaustion IF reached. Initial weekly support now rests with the 2018 yearly open / 61.8% extension at 1.2005 with broader bullish invalidation now raised to 1.1823/35.

Is EUR/USD finally beginning to track back lower?

Bottom line: The Euro breakout has already extended into initial resistance objectives and while the immediate rally may be vulnerable here near-term, the outlook remains weighted to the topside while above 1.1835. From at trading standpoint, a good zone to reduce long-exposure / raise protective stops – losses should be limited to 1.2005 IF price is heading higher on this stretch. Be on the lookout for possible exhaustion into the upper parallels heading deeper into the month

We provide new trading analysis every week

Do you want us to check EURUSD technical analysis more often and update this article for you right now? We really appreciate your feedback! Was this article helpful for you? What do you think of the EURUSD and AUDUSD currency pairs? We often use Pivot points in our analysis. I have already written an article where I explained in detail how target trading works.

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Disclaimer:

Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky. Consider all the risks carefully before investing in the Forex Market. Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only general information and market commentary, thus, it does not incorporate investment advice.

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