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Analyzing Potential EUR Movements: Channel Pattern SVM OverviewD ear Esteemed TradingView Community, I trust this idea finds you well. In the intricate world of trading, where decisions are often rooted in data and analysis, I'd like to share my recent findings regarding the EURUSD market. Please note that this is not financial advice but rather a reflection of my analytical perspective. In October, my focus zeroed in on a noteworthy development in the EUR market: the emergence of a demand zone around the $1.05 level. Leveraging advanced tools like AI and Kernel SVMs, I identified this zone as pivotal support, opening the door to intriguing possibilities for both short and long positions. The demand zone, acting as a robust support, fueled a successful long trade as the price reached the projected target. However, the current scenario introduces the prospect of a short position, with potential entry points highlighted by the bottom purple line, a resistance level identified by SVMs. As we navigate the intricate dance between support and resistance, it's crucial to acknowledge the uncertainty inherent in market dynamics. The potential breakout from the resistance is not guaranteed, and the price might trace its steps back, especially if it encounters resistance at the identified purple line. In the event of a reversal, the previous long entry point (demand zone) could serve as a short target. Bearish scenarios envision the price consolidating below the resistance, possibly entering a downtrend. Yet, the journey to the demand zone may not be immediate, as additional chart patterns could manifest between the resistance and the demand zone, either reinforcing or challenging the short thesis. A significant surge in sell volume on 13-14 November raises the probability of a bearish scenario. This surge, aligned with the preceding rally, suggests a potential exit strategy for investors capitalizing on heightened market activity. The existence of a parallel resistance trendline, derived from historical peaks, adds another layer of complexity to the analysis. While indications of a breakout are not definitive, the possibility of the price returning to the rising channel between trendlines cannot be dismissed, especially considering the impact of unforeseen news events. Though technically less probable, the practice of markets often defies technical norms. In conclusion, I've marked this analysis as 'short,' considering the potential bearish patterns associated with rising channels. However, it's essential to approach these insights with a discerning eye, recognizing the dynamic nature of financial markets. Your attention to these nuances is greatly appreciated. Kind Regards, Ely
Short
by Elysian_Mind
EUR/USD Faces Retracement Amidst Economic UncertaintiesEUR/USD Faces Retracement Amidst Economic Uncertainties The EUR/USD pair experienced a notable decline on Tuesday, retracing from its recent three-month high at 1.0965, marking the 61.8% Fibonacci level from the daily swing. The retracement has set a target of approximately 1.0830, with a potential extension down to 1.0780, aiming to fill the Value gap created by last week's economic news impact. The fall in the EUR/USD was influenced by the release of US data on Tuesday, revealing a larger-than-expected decline in Existing Home Sales for October, reaching an annual rate of 3.7 million against the anticipated 3.9 million. Looking ahead, key economic indicators, including the weekly Jobless Claims, Durable Goods Orders, and the final reading of University of Michigan Consumer Sentiment, are set to be released on Wednesday. Despite these economic uncertainties, the FOMC minutes released on Tuesday provided little new information. Members of the Federal Reserve expressed ongoing concerns about inflation, emphasizing the possibility of further tightening if progress in curbing inflation proves insufficient. However, market reactions indicated a lack of significant response to the minutes. In light of the economic landscape and the prevailing uncertainties, the EUR/USD pair appears poised for a deep retracement. Traders and investors will closely monitor upcoming economic data releases to gauge the potential impact on currency markets, as the pair navigates through the evolving economic landscape. Below 1.1000 look for further downside with 1.0830 & 1.0780 as targets. Yesterday Entry:
Short
by FOREXN1
1
EURUSD 12/11/23With EUR usd this week we finished in the same range that we started Friday meaning there wasn't much to do when it came to adjustments in terms of this week's outlook and we know that gbp usd has gone bullish, so there is potential for euro to follow this movement overall structurally we have a barest range so we have to continue to follow that but we will be using caution coming into this week as possible bullish reversals are on the table. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
EU - Weekly Timeframe Analysis (ICT)I am still long-term bearish on EURUSD until proven otherwise. With the current global climate, unprecedented events can occur at anytime and change everything on a dime. My initial target for a reversal back to the downside is a 3-Week Sibi residing just above the current Monthly Sibi. It is salient that the 3-Week candle does not close in the upper quadrant of it's range. It would be reasonable for price to reach all the way to the Bearish Weekly Breaker before reversing, but a strong close above the Weekly iFVG above would make me reconsider my bias. Narrative-wise, I am anticipating price to return into a 2-Week BPR before continuing higher into my short POIS. I'll post an analysis on the Daily timeframe for more specific scenarios.
by Road_2_Funded
EU - Weekly Timeframe Analysis (ICT)I am still long-term bearish on EURUSD until proven otherwise. With the current global climate, unprecedented events can occur at anytime and change everything on a dime. My initial target for a reversal back to the downside is a 3-Week Sibi residing just above the current Monthly Sibi. It is salient that the 3-Week candle does not close in the upper quadrant of it's range. It would be reasonable for price to reach all the way to the Bearish Weekly Breaker before reversing, but a strong close above the Weekly iFVG above would make me reconsider my bias. Narrative-wise, I am anticipating price to return into a 2-Week BPR before continuing higher into my short POIS. I'll post an analysis on the Daily timeframe for more specific scenarios.
by Road_2_Funded
EURUSD 5/11/23Starting off this week with Euro to the US dollar we saw a clear bullish trend established last week and we had some very strong bullish moves from our later session. We're looking for this move to continue forward as until we see a change in direction or a shift in narrative expect the same trend to continue we've broken down our 5 minute high establishing our swing high as well as a counter swing order block we have a major low within our range we also have an unmitigated area for price to revisit which would be our ideal before the next expansion. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
DXY- The start of a new journey?DXY has broken a previous high and has escaped this range scenario from 01/01/22, Price has now formed a flag or consolidation above this high. If we take the length of the flag pole and extend it above the flag itself we can see this price ends up in this area of previous value, in my opinion USD is likely to make a move here. We can look for tell tale signs of selling of in risk assets to add fuel to the fire here. You can also check my EURUSD Idea on how to potentially make some profits in the upcoming moves.
TVC:DXYLong
by ZenFlo
EU - Daily Timeframe Analysis (ICT)Very nice delivery in price lately. Wednesday reached into the Weekly Sibi and 4-day Sibi which coincided with a bearish Mitigation Block's wick. Thursday pushed up one more time to trap buyers, as well as touching the bottom of a NWOG. CPI on Thursday trapped and liquidated many buyers with it's immediate drop lower. Friday continued lower, leaving a Daily Sibi in it's wake to close the week. I'm very interested in this created Daily Sibi if price would enter it before reaching any major objective on the higher timeframe narrative. Specifically, the Daily Bisi turned iFVG. Residing there is a NMOG, and the Mean Threshold of a clean Daily Breaker Block on Forex.com, which only shows a gap on FXCM. Planning out a swing short around there would be high-probability in my opinion.
Short
by Road_2_Funded
1
EURUSD 9/10/23Our final pair for this week Euro USD you can see that we are in again a bullish swing range this swing range was only confirmed after price shifted lower from the market open gap again this holds less probability when it comes to confirming a truly manipulated high within our swing range but as it stands we will look at it as a true breaker structure since this breaker structure we have tapped into our only unmitigated POI and we have seen a bullish move up we have not come up to fill the gap yet, But as we are in a bullish range it makes the fulfilment of this gap even more probable of course we will look towards our Tuesday sessions for our true price movements as today is a bank holiday but we will continue to follow price action to see if we can get some short term moves until this gap and range is fulfilled Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
EU Reversal Anticipation - Long BiasEU outlook. According to my DXY bias, I'm anticipating higher prices on EUR/USD. I don't believe this is the end of the road for higher prices. Looking for possible one more fall into the Daily FVG and Weekly iFVG. There is a nice setup for a long already on the lower timeframes, which could pan out before dropping further. Same thing, anticipating the Monthly Power of 3. Waiting for confirmation to validate this bias and narrative.
Long
by Road_2_Funded
4
EURUSD 24/9.23EU oh look another sell side swing range with a rather large space above, oh and liquid gathering above our highs almost as if we have seen this in nearly all our other USD related pairs this Sunday! In short we are looking for a bearish move due to our range we sit in but of course we aren't expecting a run higher for then a full drop lower as our range is massively oversized. from what we have seen and what we know of these kind of range normally we see the short term price action take over the overall move but until this happens we stick to what we have! Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety