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Eurodollar

EUR/USD -28/11/2023-∙ EUR/USD bulls in charge after series of dismal economical data in the US which pushed investors and markets to believe that high inflation and rate hikes cycle are behind ∙ Triple bottom around 1.05 (bullish reversal) ∙ Today price pushed through 61.8% Fibonacci level of the summer decline (bullish) ∙ Buyers are approaching critical resistance levels which will test their commitment ∙ First resistance is the descending trend line near 1.11 followed by 200 SMA at 1.115 and yearly highs at 1.1260-70
by RamziAbouAbdallah-CMT
EUR/USD Daily Chart Analysis For Week of Nov 24, 2023Technical Analysis and Outlook: After a pullback, the Eurodollar aims for our designated target, Inner Currency Rally 1.099. This comes after the currency repeatedly hit strong Key Res 1.092 in this week's price action. This suggests that the Eurodollar may experience an imminent rally to Inner Currency Rally 1.099 in this upcoming session, potentially bringing it to a primary pivotal squeeze with an extension all the way to Mean Sup 1.087.
by TradeSelecter
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
2023The chart you see is the EURUSD but this post isn't just about euro but it will be a key player coming into next yr. It's been a year of CB's but where do we head next? BOE raising rates 3.5%, with the split vote as we head into 2023 expect a large recession going forward as all CB's have raised rates they are hiking a little bit too much and yes they will have to cut as we head into the recession but hiking could actually be a mistake but we obviously don't control what CB's will do and CPI is declining 11.1% it dropped to 10.7% cost of petrol, tobacco etc Food prices are rising. It is a great amount 10% core inflation isn't excelling it's still at those areas. Raising rates, it takes time to come into transition. Now don't forget we've got strikes such as rail strikes, it isn't busy with retail sales aren't excelling people can't get into these stores and less people are spending. FOMC: Raising rates 0.25% keep rates higher 2023 5.1% expectation of rate. Very hawkish, headline inflation 7.1% lowering CPI. These rate hikes are working. The market rallied S&P, it declined. Rate hikes are pacing themselves, we could even get cuts mid next year stop hiking rates, recession. It will take more evidence for inflation is on downward path, in reality it is declining. Perhaps its due to core inflation. The dot plot was the main move. It's 4.5%, they want 5.1%. No cuts in 2023, that's the questionable bit as well. Now market did rally before thinking there would be cut sooner 2023 well the dot plot differs in that view. 17 out 19 for 5.1% members. Last 3 months it has raised. That's interesting. Labour market jobs available and working 3.5 million it is very tight. When going into recession there's cost cutting, further reduction of employees = Recession. Job cuts are here tech sector, finance sector etc. Wages stay high, no demand disruption. May sustain high inflation. The need keeping rates higher for longer, extending the demand disruptions. Hiring was very difficult in first place, are workers going to extend the cut of workers? Time will tell. ECB hiked as all CB's are. Anybody who thinks this is a pivot, is wrong. 50 basis point hikes pace for period of time EU indices fell. Very hawkish. They are lagging compared to other CB's, current rate 2.5%. Now bare in mind they do have to think of other countries but they are behind compared to others, the large bear move came. Quantitative tightening in May extends. We had CPI's, we've had of this year CB's. Year ends all CB's hawkish. The markets SPX and other EUR indices rallying but it hasn't happened the Grinch came out, you can see in my previous posts I wasn't confident at all we could head higher especially SPX this can be seen through previous posts. I expect this to continue. Don't forget you got China think about as well reopening, it's interesting time there. Overall regarding the market, we already see housing having issues, there's another country that has my key interest it's Mexico, will manufacturing move further away from China and head a little to Mexico? USDMXN interesting FX pair I am going to keep an eye on for next year. Regarding market overall, I am bearish DXY for the next 6 months in my humble opinion . I feel shorter term, for sure a pull back but I think longer term: GBP we could hit back to 1.30/1.35 areas, EUR 1.15/1.20, XAG 30-35, keep an eye on other euro minor pairs could extend further a lot more in gains than others and yes I will even mention crypto 8-10k Bitcoin seems a good support area! If we technically stay above those areas, could be a good time to buy but that market overall has a lot of reinforcement to make regarding the regulations. The market doesn't go in straight line that's where technicals come in. Last year I expected we get higher DXY - we achieved that but this time I'm on the flip side...embrace yourself for recession. Happy Holidays & Get ready to smash 2023. Trade Journal Financial Trader | Empowering Your Trading Journey Disclaimer: Not Investment Advice Or Signal Provider
by Trade_Journal
3
EUR/USD Daily Chart Analysis For Week of Nov 17, 2023Technical Analysis and Outlook: The Eurodollar has experienced a notable recovery after successfully achieving the designated target of Inner Currency Rally 1.077. This means the Euro has bounced back significantly and shows positive momentum in the currency market. However, as the Eurodollar approaches the next selected mark, Key Res 1.092, it may encounter significant resistance. The price of this resistance level is essential, suggesting whether the Eurodollar will likely fall further. Furthermore, if the Eurodollar fails to surpass the Key Res 1.092 level, it could continue its downward momentum and reach the Mean Support level of 1.084. This crucial support level will offer a substantial price platform against further downward movements. Therefore, it is also essential to keep an eye on the Eurodollar's performance at this level.
by TradeSelecter
A Volatile Bearish Trend: AI-Assisted 4-Hour Analysis of EUR-USDDear Esteemed TradingView Members, I n the world of financial trading, precision and insight are invaluable assets. In today's dynamic market environment, it's imperative to embrace the right tools that provide clarity amid the ever-shifting tides of economic forces. I n this piece, I delve into the intricate currency trading, focusing on the EUR-USD market. To capture the essence of this dynamic market, I've chosen to examine it through the lens of 4-hour candles. The rationale behind this choice is rooted in the recent uptick in EUR volatility. While lower timeframes may drown you in noise, the 4-hour candles offer an equilibrium, making it easier to discern patterns and identify emerging trends. W hy 4-hour candles, you ask? Well, because they're versatile. Whether you're a swing trader, day trader, or even planning longer-term positions, these candles are a reliable tool in your arsenal. They filter out the commotion and provide a steady view of the market's ebbs and flows. I looked at recent developments, and I saw a bearish trend that persisted until November 1, 2023. However, it's essential to note that the trend didn't seamlessly transition to a bullish one; instead, it appears to be exploring potential support levels. What's intriguing is the gradual deceleration of the decline, as evidenced by the volume indicator. V olume plays a pivotal role in assessing market health, and traders frequently employ indicators like On-Balance-Volume (OBV) to confirm their analyses. Our chart showcases a possible demand zone, spanning from $1.044 to $1.052, accentuated by a prominent blue rectangle. This range is more than just a potential support zone; it's an indicator of market sentiment and a battleground of supply and demand. O BV, the blue indicator at the bottom of the chart, corroborates the significance of this zone. It started a noticeable ascent on October 3, 2023, coinciding with the EUR price's descent into this area. This rise indicates a considerable demand that might be a precursor to multiple bullish surges, emerging from this very platform. Yet, each of these attempted upswings met the resolute barrier of the ascending resistance line, denoted by the striking purple trendline, nudging the price back toward the aforementioned demand zone. T his oscillation serves to intensify the latent buying potential within the zone. However, it also reveals that the demand isn't robust enough yet to trigger a full-scale shift from a bearish to a bullish trend. The latest encounter with the resistance line on November 6, 2023, adds another layer to the analysis. A t this juncture, our Random Forests machine-learning technique enters the fray. It paints a picture of a potential retreat in price towards the historical support zone. Remarkably, OBV barely budged in response to this rejection, suggesting that there's a substantial interest sandwiched between the resistance and support levels. This interest might lead to the execution of limit orders, propelling the EUR price downwards to the demand zone. T o further enrich our analysis, the Gradient Boosting Machines (GBMs) algorithm highlights a crucial point. It indicates that the EUR price has begun to veer away from Exponential Moving Average (EMA) graphs in a manner that typically hints at weakness in the local bullish trend. This divergence could signify a probable return to the overarching bearish trend or, at the very least, a period of consolidation—a characteristic often observed on-demand platforms. I n the ever-evolving landscape of financial markets, precision is the compass and insight of the North Star. As the EUR-USD market continues to unveil its secrets, your mission is to decode them with sophistication, warmth, and genuine expertise. S tay tuned for more insights, and remember, in the world of trading, adaptability is the key to success. It is not a financial advice. You are responsible for your funds. Take care of retaining volume more than fast gains. Do your research. The idea proposes only possibilities, and the market might act in a different way. Historic results don't guarantee future results. AI isn't omniscient. Warm Regards, Ely
Short
by Elysian_Mind
EUR/USD Daily Chart Analysis For Week of Nov 10, 2023Technical Analysis and Outlook: The Eurodollar has undergone a notable downtrend movement from our Key Resistance level of 1.075, a significant level of resistance that the currency has been unable to break through. As a result, it is now expected to gradually move towards the Mean Support level of 1.061, which is strategic support for the currency. Furthermore, the Eurodollar may extend its bearish momentum and reach the Mean Support level of 1.056, which is a firm level of support. However, it is worth noting that the currency could rebound toward uncompleted Inner Currency Rally 1.077 and Key Res 1.075, a level of resistance that the Eurodollar tested in this week's trading session. If the currency breaks through these two levels, it could complete the current Inner Currency Rally 1.077 and continue its upward trend.
by TradeSelecter
Euro vs US Dollar - EURUSD IdeaFX:EURUSD OANDA:EURUSD Euro vs US dollar Hi traders.. There's a 40% chance that the upward trend will persist in the mid-term. So, we're holding off and waiting for confirmation of a price downturn before diving into the selling trade. If the upward trend is confirmed, we'll scrap this position. ⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices. ✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
Short
by Arash-RK
SHORT EURUSDEURUSD is still in its downtrend channel on the weekly and monthly timeframes. On the weekly timeframe, a retest of the double top neckline was established at the resistance area and a reach of the upper channel of the downtrend and a triple top at smaller scale was formed and retested, which all possibly confirms its downtrend continuation with a break of area 1.04 to 1.03 and later to its previous low 0.95 and into the lower of the downtrend channel at 0.90. Previous ideas: Monthly timeframe Weekly timeframe
Short
by WaelHaz
2
EURO VS U.S. DOLLAR. TO LOW, OR NOT TO LOW. THIS IS THE QUESTIONThis publication is for Euro against U.S. dollar, and quick and simple as well as all other publications by @Pandorra 2023 is about the end, so let's take a look on technical perspectives for FX:EURUSD . The main graph is EURUSD semi-annual 6-month chart (yes, they also exist on TradingView, as well as quarterly 3-month charts and annual 12-month charts). EURUSD is being concentrated on multi year floor, with lowest levels at semi-annual close around 1.05 (actual again in this time). Well, recently being inspired with finding NASDAQ:TLT multi year floor, I guess that breaking down the 1.05 floor in EURUSD can turn the price much and much lower. Maybe to 1.6 Euro for 1 U.S. Dollar somewhere in mid or late 2020s, or early 2030s. Patience.. Patience.. and once again Patience.. The Time will show.
by Pandorra