EUR/USD technical analysis and price forecast video

Currency trading is a complex and ever-changing market, but there are some key trends that can help you make informed trading decisions. In this analysis video, I will take a look at the EUR/USD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term exchange rate and forecast its potential movement in the coming year.

EUR/USD Price Trends

Key Points:

• The persistent downtrend of the EUR/USD exchange rate from 2022
• Anticipated long-term appreciation of the EUR/USD exchange rate
• EUR/USD exchange rate forecasted to hit 1.133 by the end of 2023

EUR/USD Price Technical Analysis – A Detailed Look

Now, let's dive deeper into the EUR/USD price technical analysis, inspired by a video discussion by a seasoned Forex trader. The analysis revolves around a long-term channel dating back to the end of 2014. With the EUR/USD currently at 1.094, the expert believes we're likely to see a rise towards the Point of Control (POC), the price level at which the highest volume has been traded over a specific period.

Make sure you check out the EUR/USD price technical analysis video above.

Key Technical Analysis Insights:

• A persistent long-term channel visible from 2014 to the present
• Potential EUR/USD rise towards the POC
• Volume profile analysis revealing detailed price range insights

Key Observations and Future Opportunities

My observations suggest that the channel is still intact, even with a quick return into the channel after a short stint of the EUR/USD reaching parity. The POC, represented by the red line, is around 1.133, and it is predicted that the EUR/USD will reach this point. Additionally, potential interesting trading junctions have been identified. If the EUR/USD declines and hits the bottom of the channel, or the Value Area Low of the volume profile, as shown in the above video, that would be a SUPER buying opportunity, IMHO.

Key Observations:

• The channel is still intact, with the EUR/USD likely to reach the POC at around 1.133
• Possible future buying opportunities if the EUR/USD hits the channel's bottom and rebounds
• Long-term forecasting suggests a potential rise up to the POC, offering a nearly five-to-one reward-to-risk ratio for swing traders

TO SUM UP...

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