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Euro

Euro can rebound down from resistance line and continue fallHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a not long time ago started to rise inside the upward channel, where firstly it declined to the 1.0780 resistance level, which coincided with the seller zone. Soon, the price broke this level and declined to support line of the channel, after which EUR at once rebounded and made an upward impulse to the resistance line of the channel, breaking the 1.0780 level one more time. Next, the price some time traded near, but later Euro turned around and started to decline inside the downward channel, leaving the past channel. In the downward channel, EUR fell to the support level, which coincided with the buyer zone, breaking the 1.0780 resistance level also. After this, the price bounced from the 1.0620 level and tried to rise, but declined to the buyer zone, which a not long time rebounded up to the resistance line of the channel, making a fake breakout. At the moment, I think that the Euro can rebound down from the resistance line, break the support level, and continue to decline in a downward channel. For this reason, I set my target at the 1.0500 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
EUR/AUD H4 | Rising into overlap resistanceEUR/AUD is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.6563 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 1.6634 which is a level that sits above the 78.6% Fibonacci retracement level and a pullback resistance. Take profit is at 1.6465 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
EUR/GBP H4 | Rising into pullback resistanceEUR/GBP is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 0.8568 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level. Stop loss is at 0.8596 which is a level that sits above a pullback resistance. Take profit is at 0.8531 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
EURUSD: Oversold on 1D but still bearish long-term.EURUSD turned oversold today on its 1D technical outlook (RSI = 29.517, MACD = -0.004, ADX = 31.573) as it failed to sustain the rebound during the early session. The long term pattern is a Channel Down since the start of the year and this is the second bearish wave for a LL. The 1D MACD is on the second Bearish Cross inside 30 days and even though a short term rebound might be possible, we expect a test of the Channel Down's bottom by the end of the month (TP = 1.05550). That would be on a perfect -4.00% symmetry with the decline of the previous bearish wave. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURUSD: Overall view Greetings Traders, Key Levels Around 1.0700: Today's R1, Previous Day's S1, March S1, and a strong reversal point all converge around 1.0700, indicating significant levels to monitor. Yellow Bullish Channel: It's imperative to watch for any breaks below the yellow bullish channel, as this could invalidate our current analysis. Take Profit Targets: TPs are set at the bottom of the channel and today's pivot around 1.0665. Upcoming Events: Keep an eye out for surprises in today's retail sales announcement and tomorrow's Federal Reserve Chair Jerome Powell speech, as these could potentially alter market direction or affect optimal entry levels. Short-Term Trading Strategy: Short-term traders may consider taking long trades if the price surpasses 1.0670. Best regards,
Short
by AliSignals
EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Euro can make small movement down more and then start to growHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some days ago entered to triangle, where it at once rebounded from the resistance line, which coincided with the 1.0885 resistance level with the seller zone and in a short time declined to support line of this pattern. After this movement, the price rebounded from this line and started to grow back to the resistance line of the triangle, and when EUR reached this line, and soon exited from the triangle. Then the price broke the 1.0885 level and rose a little higher, but quickly turned around and started to decline inside the downward channel. In the channel, the price broke one more time at 1.0885 level and later fell to the support line of the channel, after which it turned around and rebounded up. Euro exited from the downward channel and soon reached the 1.0885 level again, but at once turned around and made a strong downward impulse to the current resistance level, which coincided with the resistance area. After this, the price also broke this level too and at the moment it continues to decline. In my opinion, the Euro can make a small movement more, after which it turns around and rises to the 1.0700 resistance level, which is my target too. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
EURUSD Outlook: Support Strength and Potential Upside MomentumAmidst the ever-fluctuating landscape of the foreign exchange market, the EURUSD pair has captured the attention of traders following a notable drop to 1.071 in response to recent economic developments. As I compose this article, the pair finds itself at a critical juncture, supported by a confluence of factors including strong technical support and contrasting economic data releases. At present, the EURUSD pair has established a robust support level, coinciding with the 61.8% Fibonacci retracement level. This convergence of technical indicators underscores the significance of this support area, potentially paving the way for a reversal in price dynamics. Recent economic data releases have added complexity to the market narrative. The Core Producer Price Index (PPI) month-on-month (m/m) report has exerted a negative impact on the US economy, suggesting potential inflationary pressures. Conversely, the Unemployment Claims data has painted a positive picture for the US labor market, indicating resilience and stability. In light of these developments, our analysis suggests a compelling trading idea: a rebound from the support areas. Our viewpoint is anchored in the belief that the EURUSD pair is currently trading within a range-bound environment, presenting an opportunity for a bullish impulse towards higher levels. However, it's essential to approach this trading idea with caution and meticulous planning. While technical indicators and economic data provide valuable insights, market sentiment and geopolitical factors can introduce unexpected volatility. Therefore, risk management is paramount in executing this trading strategy effectively.
Long
by FOREXN1
1
EUR/USD rally loses steam ahead of US inflation reportThe euro's rally from the December low appears to be losing steam. Tuesday's high respected a resistance cluster including a 61.8% Fib level, high-volume node and trend resistance. A 2-bar bearish reversal (which includes an engulfing candle) only made a marginal high above Friday's high, and a bearish divergence has formed on the RSI. With CPI looming, perhaps the market will try to fill some of the liquidity gaps left during the bearish engulfing candle. And with the potential for a hotter-than-expected CPI report (and therefore a stronger dollar / lower euro), the bias is for an eventual retest of the 200-day average ~1.0832. A break beneath which brings 1.0820 and 1.080 into focus for bears.
Short
by CityIndex
EUR/USD Dynamics Following March's NFP ReportAs the EUR/USD opens Monday's session with an initial pushdown to 1.08280, the forex market reflects on the recent Nonfarm Payrolls (NFP) report. With the economy adding a robust 303,000 jobs in March, surpassing expectations, investors are recalibrating their forecasts regarding the Federal Reserve's (Fed) interest rate policy. This unexpected surge in job creation has tempered speculations of an imminent interest rate cut by the Fed in June and has revised down the total number of anticipated rate cuts for 2024 to two. Consequently, US Treasury bond yields remain elevated, bolstering the USD and exerting downward pressure on the EUR/USD pair. Amidst these developments, a potential short continuation for the EUR/USD emerges as a plausible scenario. The pair remains below the 61.8% Fibonacci level, and the Relative Strength Index (RSI) indicates bearish momentum following Friday's divergence and subsequent pushdown post-NFP, with the RSI currently hovering around 55, signaling a potential decline. However, despite the strengthening USD, a generally positive sentiment pervades global equity markets, buoyed by easing geopolitical tensions in the Middle East. This optimism may dampen demand for the safe-haven Greenback. Additionally, traders may adopt a cautious stance ahead of pivotal releases from the US this week, including the latest consumer inflation figures and the crucial Federal Open Market Committee (FOMC) meeting minutes scheduled for Wednesday. These data points, alongside the European Central Bank (ECB) meeting on Thursday, are poised to offer significant insights into the future trajectory of the EUR/USD pair. In summary, while the EUR/USD faces downward pressure driven by strong US economic indicators, the interplay of global market sentiment and upcoming data releases could introduce volatility and potentially alter the currency pair's direction. Traders are advised to closely monitor key economic events and market sentiment indicators to navigate the evolving dynamics of the EUR/USD exchange rate effectively.
Short
by FOREXN1
5
EUR/USD: Analyzing the Impact of US Nonfarm PayrollsThe recent release of the US Nonfarm Payrolls report for March has sparked significant movements in the EUR/USD currency pair, with implications for traders and investors worldwide. This article provides a comprehensive analysis of the key factors driving these fluctuations and offers insights into potential future trends in the forex market. US Nonfarm Payrolls Report: The US Bureau of Labor Statistics (BLS) stunned markets with its March Nonfarm Payrolls data, which surpassed both estimates and previous readings. With an impressive addition of 303K jobs, the report painted a robust picture of the US employment landscape. Moreover, the decline in the Unemployment Rate to 3.8% further bolstered confidence in the US economy, accompanied by Average Hourly Earnings that met consensus expectations. Eurozone Economic Indicators: In contrast to the strong performance of the US economy, the Eurozone's economic indicators presented a mixed picture. Reports such as Germany's Factory Orders and Retail Sales failed to match the vigor seen in the US labor market. This discrepancy between the two economic powerhouses has exerted downward pressure on the EUR/USD exchange rate. From a technical standpoint, the EUR/USD pair faced significant downward momentum following the release of the US Nonfarm Payrolls report. The pair quickly approached the 1.0800 support level, with further downside potential towards 1.07600. Despite a temporary rebound to 1.08360, the overall outlook suggests a bearish continuation, pending confirmation from upcoming trading sessions. Traders are closely monitoring upcoming economic data releases, particularly US inflation figures and consumer sentiment data. Additionally, the European Central Bank's (ECB) monetary policy meeting will be a pivotal event, shaping market sentiment towards the euro. While some uncertainty lingers, indications point towards a potential bearish trajectory for the EUR/USD pair in the near term. The US Nonfarm Payrolls report for March has triggered significant movements in the EUR/USD exchange rate, highlighting the contrasting economic landscapes between the US and Eurozone. Technical analysis suggests a bearish bias for the pair, with potential downside targets below the 1.0800 support level. Traders are advised to remain vigilant and await confirmation before initiating new positions, particularly in light of upcoming economic events and central bank decisions. ✅ Our previous Winning Idea:
by FOREXN1
1
EURCHF: Channel Down top. Sell.EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous corrective wave did. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EUR/JPY minor short(4/9/2024)Today, the EUR/JPY price rose in the early morning, and right now the price made a good rejection from the 165.1 zone. this rejection could lead to further downward movement after a short retracement. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by fortunamarkets
EURGBP: Multiple Time Frame Analysis & Bearish Outlook 🇪🇺🇬🇧 Take a look how EURGBP reacted to a daily falling trend line on a 4H time frame. The market started to consolidate within a narrow range and was stuck within for 2 trading days. Today we see a strong bearish movement with a confirmed violation of the support of the range. It indicates the strength of the sellers. We can anticipate a bearish movement lower, at least to 0.8562 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
EURUSD on crossroads. Bullish or Bearish?The EURUSD pair hit our 1.07250 Target of our March 27 analysis (see chart below) before the current 1-week rebound: Right now it is giving mixed signals as the latest rebound made the 1D RSI break and stay above its MA trend-line, which is a pattern it following on the February - March Bullish Leg. At the same time though, the 2024 Channel Down is intact but if the RSI break-out prevails, we expect a new (dotted) Channel Up to emerge. Obviously the pair is on critical crossroads as far as the long-term trend is concerned. Our plan is to buy on the next 1D MA50 (blue trend-line) pull-back and target 1.09815 (Resistance 1). We are only willing to take the loss if the price breaks below the Symmetrical Support Zone, and sell targeting 1.05500 (-4.00% decline from the previous Lower High, similar to the Channel's first Bearish Leg. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURUSD Is Ready to Go UP🚀🔨 EURUSD is breaking the 🔴 Resistance zone($1.0848-$1.0840) 🔴. 🌊According to the theory of Elliott waves , EURUSD seems to have completed the corrective waves and is now ready for the next five impulsive waves . 🔔I expect EURUSD to go UP at least the 🟣 Yearly Pivot Point 🟣 after breaking the Resistance line and ⚔️ Attacking ⚔️ the upper Resistance lines again. Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
7