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Eurusdanalysis

EUR/USD Faces Downward Pressure Amid Strong USD MomentumThe EUR/USD has shown a bearish momentum, backed by both technical and fundamental factors. The currency pair has been on a decline, marked by its positioning below the critical 200-day SMA. SocGen's prediction about the pair possibly reaching parity and HSBC's prediction of USD strengthening further support a bearish sentiment. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: SELL 👉ENTRY PRICE: 1.0615 (current price, but would ideally wait for confirmation of a break below this level) ✅TAKE PROFIT: 1.0516 (March low, and then potentially 1.0481 if it breaks the March low) ❌STOP LOSS: 1.0665 (A slight buffer above the current level to give the trade some room) FINAL THOUGHTS: Given the current scenario, a sell trade on the EUR/USD seems favorable. However, like any trade, it's essential to manage risk and keep updated with global economic news that can influence currency movements.
Short
by RichDadph-FX
1
DeGRAM | EURUSD short opportunityEURUSD broke and closed below the psychological level at 1.07000 and an ascending channel, which was essentially a pullback. The market created a structure shelf for shorting opportunities. The resistance and 50% level were tested many times, which shows they are significant. We expect a breakout of the level (which has already happened), a pullback, and then trend continuation. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
3
EURUSD Technical Analysis and Trade IdeaIn this video, we conduct a thorough analysis of the EURUSD currency pair. Over recent periods, the EURUSD has faced notable downward pressure, resulting in a substantial move towards a critical support level. Within the video, we examine the potential for a trading opportunity based on our assessment of price dynamics, market conditions, current trends, and a meticulous evaluation of key support and resistance levels. We want to emphasize that the content presented is purely educational in nature and should not be construed as financial advice or guidance.
Short
by tradingwithanthony
Will EURUSD will breakout soon?EURUSD is a Forex instrument; by looking at the chart, we can see that EURUSD has been in consolidation mode for the last two months. It's roaming in the support ZONE right now. The consolidation band is contracting and might give a break this time. If it breaks to the upside, it can give nice targets of R: R:: 1:3. Reason : RSI moving up from oversold Zone. Moving in Bullish Falling wedge Pattern . Soon, it might give a breakout. Verdict : Soon Breakout Expected. Plan of Action : Buy on Breakout.
by finnova_
6
EU - Weekly Timeframe Analysis Contrary to GBPUSD, EURUSD ended last week with a very bearish candle, couple with relative equal lows. A point of interest for me at the moment is the Weekly iFVG residing above to be used as resistance, especially if price does not break the nearest Weekly Lows to the left with any conviction. Based on my bullishness on DXY, I see EURUSD digging deeper towards Sellside. Also compared to GBPUSD's Commitment of Traders report, EURUSD had a significant decrease in large spec long positions. EURGBP should be quite explosive soon.
Short
by Road_2_Funded
EUR/USD Under Pressure: Could 1.0515 be the Next Floor?The EUR/USD currency pair is under significant downward pressure, hitting a six-month low. The ECB's mixed signals, despite a rate hike, along with strong U.S. economic data, are contributing to the Euro's decline. Analysts forecast potential further depreciation, targeting March's low of 1.0515. However, China's robust economic data could offer some cushion. Resistance for the EUR/USD pair stands at 1.0730. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉ENTRY PRICE: 1.0650 ✅TAKE PROFIT: 1.0520 ❌STOP LOSS: 1.0700 ANALYSIS: Given the current bearish sentiment supported by ECB's dovish outlook despite a rate hike, and the strong economic indicators from the U.S., a sell trade seems warranted. The strong resistance level at 1.0730 suggests that the pair is unlikely to break this level in the short term. FINAL THOUGHTS: This sell trade aims to capitalize on the bearish outlook for EUR/USD, reinforced by both technical and fundamental indicators. Strong U.S. economic performance and mixed signals from the ECB suggest a continued downward trend in the short term. However, one should remain cautious due to external factors such as positive Chinese economic data.
Short
by RichDadph-FX
3
EUR/USD Faces Turbulence Amid Sluggish Eurozone DataThe EUR/USD currency pair saw a decline to 1.0726, impacted by weak Eurozone economic indicators and a hawkish ECB stance on inflation. On the other hand, the US displayed better-than-expected Factory Orders, along with Fed hints at possible rate adjustments. The pair has also broken below key technical support levels, capturing market attention for future moves. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉 ENTRY PRICE: 1.0720 ✅ TAKE PROFIT: 1.0635 ❌ STOP LOSS: 1.0770 ANALYSIS: The pair has shown a consistent downward trend, breaking below key technical indicators such as the 200-DMA at 1.0819. Fundamental indicators like the disappointing PPI and PMI data for the Eurozone also point to further downside risks. The hawkish stance from ECB amidst economic slowing adds to the pressure on the EUR. Conversely, the US is showing economic strength, offering support to the USD. TRADE PLAN: Enter a sell position at 1.0720. Set the stop loss at 1.0770 to limit potential losses, given that this level serves as a strong resistance point. Target a take profit at 1.0635, the May 31 low, offering a reasonable exit for a short-term trade. Monitor upcoming US PMI data and Federal Reserve meetings for any drastic changes that could affect the trade. FINAL THOUGHTS: Given the fundamental and technical indicators, a sell signal appears to be the more appropriate trading decision for EUR/USD at this juncture. The trade offers a good risk-reward ratio, aligning well with the current bearish trend. Traders should remain vigilant for updates that could shift the market dynamics.
Short
by RichDadph-FX
Buy Zone Alert: 3 Key Levels Converge for Buying OpportunityContinuing from my previous idea shared last month (refer to the related post below), the market has played out exactly as anticipated. The sell-off occurred as expected, taking place at the Monthly 0.618% Fibonacci level. The Monthly candle closed back below the crucial 1.10 resistance level, ultimately confirming that the breakout was indeed a fake one on the Monthly charts. So, what's the next step ? At present, the market is on a gradual descent towards the 1.07 level. This trend becomes evident when you observe the momentum of price action, gauged by the size of the candles, on the lower timeframes. For a visual representation, you can check out the daily chart image below Anticipating the movement around the 1.07 mark, it's reasonable to expect a buying response due to a convergence of factors in this area. First the newly established weekly BUY/DEMAND level holds substantial weight. This very level kickstarted the upward move that led to the 0.618% Monthly Fibonacci level. The speed at which price is retracing back to this levels signifies a notable zone of interest for potential buyers. The next factor is the weekly trend line located around 1.072 marked on the chart, you will also notice price has been moving up in a ascending channel hitting the trendline then popping a new high could this happen again?? A third influential factor around this area is the Monthly support level, situated around 1.064. This level had held its ground as a pivotal support for several years, only succumbing to a breach in the past year. Considering these converging factors, my attention will be directed towards identifying buy signals on my TRFX indicator across the 4-hour to daily charts. I intend to initiate a position as price dips below 1.075, anticipating the likelihood of a more pronounced descent towards 1.06 before eliciting a response. Initially, the target for this strategy is set at the 1.10 resistance level. Subsequently, the course of action will be determined by the prevailing price movement at this juncture. A decisive breach and a MONTHLY CLOSE above 1.10 would suggest an upward trajectory towards 1.15. However, if 1.10 proves to be a resilient barrier once again, the possibility of a downward move towards parity cannot be dismissed. To grasp the background of the sell concept from the prior month, I encourage you to refer to my linked post.
Long
by TheFxAce
29