{"id":44664,"date":"2023-04-24T05:28:00","date_gmt":"2023-04-24T04:28:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=44664"},"modified":"2023-04-24T12:37:11","modified_gmt":"2023-04-24T11:37:11","slug":"eurusd-technical-analysis-downtrend-starting","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/","title":{"rendered":"EURUSD Technical Analysis – Downtrend Starting?"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The EURUSD<\/a> pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level.<\/p>

Also, we have now entered into the blackout period for the Fed, this is the point where Fed speakers are all done until the upcoming Fed meeting at the start of May.<\/p>

Personally, I think that the EURUSD pair is about to move higher and the upcoming rate hike from the Fed, which seems on the cards is already priced in.<\/p>

MUFG<\/a> bank have also noted they are looking for the euro to move into a much higher trading range. The bank note that \u201cWe expect\u00a0EUR\/USD<\/a>\u00a0to move up into a higher trading range after breaking above the 1.1000-level on a more sustained basis.<\/em>\u201d<\/p>

They also add that \u201cFears over a sharper growth slowdown have also been eased by the quick action taken by the Swiss authorities to deal with concerns over the health of Credit Suisse that have helped reduce financial stability risks in Europe.<\/em>\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The ActivTrader Sentiment tool suggests that 31% of traders are bullish on the EURUSD. This is a very good sign for bulls if we consider that retail traders are still selling despite the solid reversal to 1.1000 this week.<\/p>

As traders, we typically look to fade retail sentiment when it is overly skewed in one direction. This style of trading, fading sentiment, has been one of the most effective and used tactics of hedge funds.<\/p>

The EURUSD is currently showing a large, inverted head and shoulders pattern could be forming. The size of the pattern would indicate that a short-term bottom could be nearing around the 1.0600 area.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

However, the chart is still bullish for the EURUSD over the short-term and as long as we see the euro holding above the 1.0950 level we could see a test towards the 1.1100 zone.<\/p>

According to the daily time frame, the pair is close to activating a large, inverted head and shoulders pattern, with the target of the pattern located close to 1.1500.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

As long as the EURUSD pair stays above the 1.0800 price level then medium-term analysis shows that further strength towards 1.1500 is possible.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The EURUSD pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level. Also, we have now entered into the blackout period for the Fed, this is the point where Fed speakers are all done until the upcoming Fed […]<\/p>\n","protected":false},"author":4,"featured_media":8199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[18,42],"yoast_head":"\nEURUSD Technical Analysis - Downtrend Starting? - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURUSD Technical Analysis - Downtrend Starting? EURUSD Technical Analysis - Downtrend Starting?\" \/>\n<meta property=\"og:description\" content=\"The EURUSD pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-24T04:28:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-24T11:37:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/05\/GettyImages-1023368658.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"479\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EURUSD Technical Analysis - Downtrend Starting? EURUSD Technical Analysis - Downtrend Starting?\" \/>\n<meta name=\"twitter:description\" content=\"The EURUSD pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"EURUSD Technical Analysis – Downtrend Starting?\",\"datePublished\":\"2023-04-24T04:28:00+00:00\",\"dateModified\":\"2023-04-24T11:37:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\"},\"wordCount\":369,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"EURUSD\",\"Fed\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\",\"url\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\",\"name\":\"EURUSD Technical Analysis - Downtrend Starting? - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2023-04-24T04:28:00+00:00\",\"dateModified\":\"2023-04-24T11:37:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EURUSD Technical Analysis – Downtrend Starting?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"EURUSD Technical Analysis - Downtrend Starting? - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/","og_locale":"en_GB","og_type":"article","og_title":"EURUSD Technical Analysis - Downtrend Starting? EURUSD Technical Analysis - Downtrend Starting?","og_description":"The EURUSD pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level.","og_url":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2023-04-24T04:28:00+00:00","article_modified_time":"2023-04-24T11:37:11+00:00","og_image":[{"width":479,"height":300,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/05\/GettyImages-1023368658.jpg","type":"image\/jpeg"}],"author":"Nathan Batchelor","twitter_card":"summary_large_image","twitter_title":"EURUSD Technical Analysis - Downtrend Starting? EURUSD Technical Analysis - Downtrend Starting?","twitter_description":"The EURUSD pair continues to consolidate around the 1.1000 level against the US dollar as the euro attempts to gain strength, following a worrying test towards the 1.0900 level.","twitter_misc":{"Written by":"Nathan Batchelor","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/"},"author":{"name":"Nathan Batchelor","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab"},"headline":"EURUSD Technical Analysis – Downtrend Starting?","datePublished":"2023-04-24T04:28:00+00:00","dateModified":"2023-04-24T11:37:11+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/"},"wordCount":369,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["EURUSD","Fed"],"articleSection":["Forex"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/","url":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/","name":"EURUSD Technical Analysis - Downtrend Starting? - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2023-04-24T04:28:00+00:00","dateModified":"2023-04-24T11:37:11+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-downtrend-starting\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"EURUSD Technical Analysis – Downtrend Starting?"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab","name":"Nathan Batchelor","description":"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.","url":"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/44664"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=44664"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/44664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/8199"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=44664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=44664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=44664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}