EURUSD & BTCUSDT Market Outlook for week 40

EURUSD & BTCUSDT Market Outlook for Week 40

This is our mid-week market outlook and overview of EURUSD & BTCUSDT.

EURUSD MID WEEK OUTLOOK

EURUSD WEEKLY TIMEFRAME

EURUSD on a weekly timeframe is still bearish, which is in line with our weekly analysis. Price has previously broken the previous swing low, and this week’s price has also broken another swing low, which is below our major support, turning it to resistance.

See Also: EURUSD Free market analysis for week 40 (2 Oct 2023)

EURUSD DAILY TIMEFRAME

EURUSD, on the daily timeframe, has broken the major support and retested it, turning it to resistance. Price has traded down, breaking the previous week’s low and taking out the liquidity at that level. The price traded down, taking out external range liquidity, but is currently pulling back to take out the internal range liquidity.

EURUSD 4 HOURS TIMEFRAME

EURUSD in the 4-hour timeframe has been bearish, and it has been making a series of lower lows and lower high. Price has just made a lower low and is currently pulling back to make a lower high. Price has pulled back to our 50% Fibonacci level as we have also seen rejections from that level.

EURUSD, from our free weekly analysis earlier this week, has been going in our direction which is said to be bearish.

BTCUSDT MID-WEEK OUTLOOK

BTCUSDT WEEKLY TIMEFRAME

BTCUSDT, on the weekly time frame in line with our earlier weekly analysis, price has been temporarily bullish and had tapped into 50% Fibonacci and has been rejected. Price has also bounced off the major support level at 25112, as we can see that the support has been what is holding the price from moving down.

See Also: BTCUSDT Free market analysis for week 40 (2 Oct 2023)

BTCUSDT DAILY TIMEFRAME

BTCUSDT on the daily time frame has been in a range with resistance at 31904 price level and support at 25112 price level, and the price has been finding it difficult to break the range. Currently it is bullish, and it’s going to mitigate the fair value gap price left while making an aggressive move down.

BTCUSDT 4 HOURS TIMEFRAME

BTCUSDT on the 4-hour timeframe has been temporarily bullish in line with the higher time frame. Price has started shifting structure, but a break and close below the trend line confirms the change in market structure, and the price will be heading to our support level.

BTCUSDT has been in an overall bearish and temporary bullish. As we can see this week on BTCUSDT, the price has not made a massive move as there are not many moves in this pair to deliver price and make it move fast.

Join me on Dipprofit’s telegram community to get up-to-date news, educational materials, market insights, market analysis, AMA Sessions, crypto futures & Forex trade signals that will help you grow and become profitable.

Join Us