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Eurusdbuy

EURUSD Short Corrective ABC wave @ 4HR Timeframe.EURUSD Short Corrective ABC wave for few pips. In this trade entry was took at 1.09237, TP1 @ 1.09523, TP2 @ 1.09636. SL 1.09033. We can trail the stop according to the ADR levels. After this short correction, we can expect the another correction for downside. Note: EURUSD is Bullish Long on Daily, Weekly, Monthly as per my analysis. Kindly, note this analysis is for educational purpose only. Trading is the Subject to the market risk. Trade safely.. Happy Trading.
Long
by JagadishSinghR
EUR/USD Bounces Back: Technical Analysis Points to a Potential..EUR/USD Bounces Back: Technical Analysis Points to a Potential Long Setup EUR/USD started the new week on an upward trajectory, recovering from Friday's pullback that saw it closing the week with over 1% gains. The currency pair is currently hovering around 1.0920, demonstrating resilience and aiming for further upside. From a technical perspective, the price has retraced to the crucial 38% and 50% Fibonacci levels from the previous swing, finding support within a bullish channel in the H4 timeframe and maintaining position above the 50-day Moving Average. These indicators suggest a favorable setup for a new long position, aligning with the overarching bullish trend within the channel. The Hawkish comments from New York Federal Reserve (Fed) President played a role in supporting the US Dollar, preventing a deeper pullback in EUR/USD. Despite a negative close on Friday, the current setup indicates renewed momentum for the pair, with potential opportunities for traders to capitalize on the upward movement. Investors and traders will be closely monitoring developments, including any further comments from central bank officials, economic data releases, and geopolitical events, as they assess the currency pair's direction in the coming sessions. Our preference Long positions above 1.0800 with targets at 1.1010 & 1.1150 in extension.
Long
by FOREXN1
1
EURUSD Longs from 1.08000 up towards 1.10500The bias for the EUR/USD this week remains bullish, given the recent downward break in the DXY (Dollar) structure. Currently, the price has responded to a supply zone, leading to a partial retracement. My anticipation is for the price to continue its descent towards a demand level, creating an opportunity for me to consider buys within the ongoing bullish trend. The demand zones identified on the 10-hour and 2-hour charts triggered an impulsive upward movement, leaving an imbalance. Recognising this pattern suggests that the price is likely to revisit these levels and react in a bullish manner. Confluences for EURUSD Buys are as follows: - DXY (dollar) continues to break structure to the downside indicating that EU will rise. - Lots of liquidity to the upside that hasn't been taken in the form of asian highs and trend lines. - Demand zones haven been left on the 10hr and 2hr below the levels of imbalances. - The price also responded to a near by 23-hour supply zone last week, and this event could serve as the catalyst for a retracement, paving the way for a new upward movement. P.S. Additionally, I acknowledge the possibility of the price ascending and reaching the Asian high, which is in close proximity to the current price. Should this occur, my expectation is for the price to respond to the refined supply on the 50-minute chart above it, or potentially rise further to establish a more favourable sell opportunity. I would also love to hear you guys thoughts on this pair so be sure to leave a comment!
Long
by Hassan_fx
EUR/USD Hurdles at 1.0800, Eyes on Fed's DecisionIn the Asian trading hours on Wednesday, EUR/USD continues to face resistance below the 1.0800 level. The market adopts a cautious stance, awaiting the U.S. Producer Price Index (PPI) inflation data and key policy announcements from the Federal Reserve later in the day. The EUR/USD pair finds support from the 100-day Simple Moving Average (SMA) and encounters resistance from the 200-day SMA. Despite attempts to breach the 1.0800 level, the pair swiftly retraces. On the daily chart, conflicting technical indicators reflect recent sideways movements, with the 20-day SMA at 1.0870 adjusting downwards. On the 4-hour chart, the Relative Strength Index (RSI) and Momentum indicators are trending higher, and the price remains above the 20-day SMA. However, the Euro appears to be restrained without strong conviction. Short-term risks are on the rise, holding above the 1.0770 level. A sustained rise and stability above 1.0805 would reinforce short-term prospects for a more lucrative scenario, targeting levels above 1.0830.
by Larissa-Trader
EUR/USD Range-Bound around 1.0760 Ahead of US CPI DataThe EUR/USD pair is trading in a narrow range around 1.0760 at the start of the Asian trading session on Tuesday. Traders prefer to stay on the sidelines ahead of key events in the US and the Eurozone. The pair is hovering around 1.0764, unchanged for the day. The EUR/USD exchange rate is trading near the 100-day Simple Moving Average (SMA). On the daily chart, the risk remains tilted to the downside, consistent with technical indicators. The Relative Strength Index (RSI) continues to move south, well below the 30 levels, and momentum is stable below the midline. On the 4-hour chart, the pair also shows a bearish trend, with prices below the 20-period SMA and within a descending channel. The RSI and Momentum indicators are not providing clear signals. If the pair rises above 1.0780, it will break the channel and surpass the 20-period SMA, improving short-term prospects for the Euro, aiming for the resistance zone around 1.0800/1.0805. At that level, the next relevant resistance is at 1,0845. On the downside, the exchange rate is expected to weaken further, with a decline below 1.0740, where the next support level is 1.0715, and below that, the pair may find support around 1.0690. The EUR/USD touched a low of 1.0741 and then rebounded to the 1.0765 area amid limited price action on a quiet Monday. The US Dollar Index recorded a slight increase, supported by higher Treasury yields as investors await important economic reports and central bank meetings. On Tuesday, the ZEW survey is expected to show a decline in economic sentiment indices for the Eurozone and Germany in December. The focus will then shift to the European Central Bank (ECB) meeting on Thursday, with no expected changes in interest rates, and discussions expected to revolve around reinvestment from the Pandemic Emergency Purchase Program (PEPP) and minimum reserve requirements. In the US, the Consumer Price Index (CPI) will be released on Tuesday. CPI is expected to show a monthly inflation increase of 0.1% in November, with the core CPI at 0.3%. Yearly CPI is expected to be at 3.1%, compared to 3.2% recorded in October. These figures are unlikely to change expectations for the Federal Reserve's next decision. The Federal Open Market Committee (FOMC) meeting will begin on Tuesday, and the announcement on Wednesday may cause some surprises. The focus will be on new forecasts. The US Dollar Index has risen but remains below last week's highs, driven by the rise in USD/JPY rates due to higher yields. The market is currently in a consolidation phase, waiting for the next catalyst. Rewrite a fresh article in English based on the available content, ensuring it is not duplicated with any other articles.
by Gwen_Humuna
EURUSD → Nearing Support! Is it Time to Long!? Let's Answer.EURUSD rejected nicely off of the Resistance Zone at 1.10 and fell to 1.07300! If you shorted at the Resistance Zone per my last analysis, hold that short! It's reasonable to take profits here around 1:1 Risk/Reward and swing the latter half, but will we make it to the bottom? How do we trade this? 🤔 If you're not currently in a trade, I would wait until the price falls closer to the Support Zone and bounces or wait for it to break Resistance and long above it. Look to enter a long in the 1.06 area if a strong bull signal and confirmation plays out and trade a 1:2 Risk/Reward taking profit just shy of the Resistance Zone. Your protective stop should be below the Support Zone giving you a clear 1:2 Risk/Reward! 💡 Trade Idea 💡 Long Entry: 1.05800 🟥 Stop Loss: 104.100 ✅ Take Profit: 1.09200 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bull Run, Bias to Long. 2. Rejection at the Resistance Zone, Run Short to 1.06. 3. Look for Support at Support Zone 1.054. 4. Look for Reversal Pattern, Bull Signal and Confirmation. 5. RSI at 45.00 far below Moving Average, Bias to Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
SPX Ready for crash or relief ? Short Term BullishMarket Analysis: The S&P 500 (SPX) is currently exhibiting a Cup & Handle pattern, a classic technical analysis pattern often associated with potential bullish reversals. However, there are indications of a slowdown in the pattern formation, suggesting that the completion of the pattern may take some time. Key Observations: Bull Trap Warning: There is a cautionary note regarding the possibility of a Bull Trap at resistance. Traders should be vigilant and consider the potential for a false breakout that could lead to a reversal. Double Top Scenario: It's advised not to discard the probability of the Cup & Handle pattern transforming into a Double Top. This implies the potential for a bearish reversal if the pattern fails to complete as expected. Anticipation of Further Bullish Momentum: Despite the noted cautions, there is an anticipation of further bullish momentum leading up to the resistance line. This suggests that, even with the potential challenges in pattern completion, there may be opportunities for bullish trades. Forecast: Given the current analysis, it's prudent for traders to closely monitor price movements within the Cup & Handle pattern. The resistance level should be watched carefully for signs of a Bull Trap or a potential transformation into a Double Top. Traders may consider taking a cautious approach, using stop-loss orders, and staying informed about market developments. For more in-depth analysis and real-time updates, it's recommended to refer to reliable financial news sources and consult with financial professionals. Always conduct your own research and analysis before making any trading decisions, and be aware of the risks involved in financial markets. Please note that the provided forecast is based on the given context and should not be considered as financial advice. Market conditions can change rapidly, and it's crucial to stay informed and adapt to the evolving market dynamics.
SP:SPX
by wikitrades
EUR/USD Rebounds from Multi-Week Lows, Trading Above 1.0750EUR/USD faced significant downward pressure, dropping to its weakest level in three weeks below 1.0750 on Friday following a stronger-than-expected Non-Farm Payrolls (NFP) report. However, weekend flows helped the currency pair recover some daily losses. The Relative Strength Index (RSI) on the 4-hour chart is higher but remains below 50, indicating a lack of recovery momentum. The pair needs a decisive move above 1.0820 (Simple Moving Average 200-day, Fibonacci retracement level of the latest uptrend) to establish it as support and extend its recovery towards 1.0860 (static level, 50-day SMA) and 1.0900 (Fibonacci retracement level of 23.6%, 100-day SMA). On the flip side, 1.0760 (Fibonacci retracement level of 50%, 200-day SMA) is considered a crucial support level before 1.0700 (psychological level, Fibonacci retracement level of 61.8%). EUR/USD benefited from the broad-based weakness of the US Dollar (USD) on Thursday, registering a daily increase for the first time since November 28. On Friday morning, the pair stabilized just below 1.0800 as market participants were cautious ahead of the US NFP report. Positive changes in risk sentiment made it challenging for the USD to find demand in the latter part of Thursday, pushing EUR/USD higher. The US Non-Farm Payrolls (NFP) report for November is expected to increase by 180,000. A figure above 200,000 could force investors to reassess the timing of potential policy changes by the Federal Reserve (Fed) and boost the USD initially. On the other hand, a disappointing figure below 150,000 could make it difficult for the USD to stay resilient against its counterparts heading into the weekend. Meanwhile, annual wage inflation is expected to decrease to 4% from 4.1% in October, and the unemployment rate is predicted to remain unchanged at 3.9%. The US economic calendar will also feature the preliminary December Consumer Sentiment Survey from the University of Michigan. However, investors may overlook this report while scrutinizing labor market data.
by Gwen_Humuna
EUR/USD Rebounds from Multi-Week Lows, Trading Above 1.0750EUR/USD faced significant downward pressure, dropping to its weakest level in three weeks below 1.0750 on Friday after stronger-than-expected Non-Farm Payroll (NFP) data. However, weekend flows helped the pair recover losses, erasing the daily downturn. The Relative Strength Index (RSI) on the 4-hour chart has risen but remains below 50, indicating a lack of strong recovery momentum. The pair needs a decisive move above 1.0820 (200-day Simple Moving Average, Fibonacci retracement level of the latest uptrend) to use it as support and extend its recovery towards 1.0860 (static level, 50-period SMA) and 1.0900 (Fibonacci retracement level of 23.6%, 100-period SMA). On the downside, 1.0760 (Fibonacci retracement level of 50%, 200-period SMA) is considered a crucial support level before 1.0700 (psychological level, Fibonacci retracement level of 61.8%). EUR/USD benefited from the broad weakness of the US Dollar (USD) on Thursday, recording a daily gain for the first time since November 28th. On Friday, the pair stabilized just below 1.0800 as market participants hesitated to take significant positions ahead of the US November employment report. Positive changes in risk sentiment made it challenging for the USD to find demand in the latter half of Thursday, pushing EUR/USD higher. The US Non-Farm Payrolls (NFP) report is expected to show an increase of 180,000 jobs in November. A figure above 200,000 could prompt investors to reassess the timing of potential policy changes by the Federal Reserve (Fed) and bolster the USD initially. On the other hand, a disappointing figure below 150,000 could weaken the USD against its counterparts at the end of the week. Meanwhile, annual wage inflation is anticipated to decrease to 4% from October's 4.1%, and the unemployment rate is predicted to remain unchanged at 3.9%. The US economic calendar will also include the preliminary University of Michigan Consumer Sentiment Survey for December. However, investors may overlook this report while focusing on scrutinizing labor market data details.
by Larissa-Trader
USD/JPY Stable Below 147.45 Ahead of US ADP ReportThe US Dollar maintains a modest bid in early European trading, with the USD/JPY pair trading narrowly below the 147.45 resistance level. The downtrend has persisted above 147.00 so far. The USD staged a mild recovery from Monday's lows but faced resistance at 147.45, leading to a measured downward trend on Tuesday. Investor caution ahead of key US employment data has supported the reversal in favor of the Japanese Yen. Speculation is growing that the Fed has completed its interest rate hikes, and the US central bank is anticipated to commence rate cuts in March, weighing on the US Dollar. Conversely, the Bank of Japan is expected to step away from extremely loose monetary policies in the coming months. This, coupled with risk aversion in the market, is offsetting the safe-haven appeal of the Japanese Yen. On the economic calendar, today's foundation-setting events include the US ISM Services and JOLTs Job Openings, laying the groundwork for Wednesday's ADP and Friday's Non-Farm Payrolls – key events of the week. From a technical standpoint, the 4-hour chart illustrates the pair trading within a descending wedge pattern, descending from November's peak. Price action remains below the primary SMA, and the RSI has dipped below the midpoint, signaling a potential continuation of the downtrend. Next support levels are at 146.30 and 146.00, while resistance levels at 147.45 and 148.50, previously mentioned, represent the 38.2% retracement of the November-December decline.
by Larissa-Trader
EUR/USD Sees Modest Uptick Around 1.0770 Ahead of Eurozone GDPThe EUR/USD pair experienced a modest uptick in early Asian trading on Thursday. However, the upward trend of this currency pair may face limitations due to the recent demand for the US Dollar and weaker-than-expected data from the Eurozone. The major currency pair is trading around the 1.0770 level, marking a 0.08% increase for the day. The EUR/USD exchange rate continues its decline, with the daily chart indicating the potential for further downside. The Relative Strength Index (RSI) is confidently pointing south, and the Momentum has just crossed below the midpoint, two days after the price fell below the 20-day Simple Moving Average (SMA). The pair is testing levels below the 100-day SMA and remains below the 200-day SMA, signaling bearish prospects. On the 4-hour chart, the EUR/USD is still within a downtrend channel and comfortably distant from the lower boundary, suggesting further potential for a price decline. Breaking above the 1.0800 level would alleviate some downward pressure, but the Euro needs to rise above 1.0825 to negate the short-term bearish trend. A clear break below 1,0760 may find support around 1.0735/40, followed by a potential temporary recovery thereafter.
by Larissa-Trader
EUR/USD Extends Decline Below 1.0800 MarkThe EUR/USD pair continues to face selling pressure below the psychological level of 1.0800 in the early Asian trading session on Wednesday. Optimistic Eurozone PMI data for November failed to inspire the Euro, given the persistent weakness in demand in the Eurozone region. The EUR/USD exchange rate found support at the 100-day SMA at 1,0775, with this mentioned level being tested, and a lower daily close would indicate further weakness. Prices are below the 20-day and 200-day SMAs, and daily chart technical indicators continue to signal a downtrend. Below 1,0770, the next significant support level stands at 1,0690 (trendline, 55-day SMA). On the 4-hour chart, the currency pair is moving with a bearish trend. Technical indicators are in oversold territory, suggesting potential consolidation before a possible deeper decline. Strong short-term negative momentum may persist below 1.0850. To reverse the negative selling trend, the Euro must rise and maintain levels above 1.0915. As the EUR/USD pair faces ongoing challenges, market participants are closely monitoring key support levels and technical indicators for potential shifts in sentiment and price dynamics.
by Larissa-Trader
EUR/USD Consolidates Near 1.0850 Amid Mixed Market ConditionsThe EUR/USD pair remained range-bound around 1.0850 in early European trading on Tuesday. The recent decline in the US Dollar, coupled with higher yields on US Treasury bonds, is providing support to this currency pair, although broader risk aversion sentiment is limiting its upward momentum. Attention is focused on US employment data and the ISM PMI. The decline in EUR/USD found support around 1.0800, slipping below the 20-day Simple Moving Average (SMA) and daily chart indicators indicating a bearish trend. After a more than 200-pip drop from recent highs, some consolidation appears to be in play. On the 4-hour chart, the Relative Strength Index (RSI) has stabilized after touching 30, suggesting consolidation. The MACD indicator continues to show negativity for the Euro, while Momentum is flat. The risk seems balanced, with a drop below 1.0790 opening up opportunities for further losses, while a positive move would require the Euro to reclaim 1.0900 to negate short-term bearishness. The EUR/USD exchange rate fell for the fourth consecutive Monday, dropping below the 20-day Simple Moving Average (SMA). The pair found support around the 1.0800 region. The US Dollar strengthened ahead of crucial US labor market data. The pair continues to decline as the market anticipates that the European Central Bank (ECB) will cut interest rates before the Federal Reserve (Fed) does. The Euro is decreasing after reaching levels above 1,1000 last week. This move seems somewhat exaggerated, and volatility is expected to remain high. On Tuesday, Eurostat will release the Producer Price Index (PPI) for October, along with the final PMI indices. France and Spain will report Industrial Production for October. The US Dollar broadly strengthened on Monday, starting the week under pressure but recovering strongly, supported by higher US Treasury yields ahead of key economic reports. The highlight of the week in the US will be labor market data, starting with the JOLTS report and the ISM Services PMI. Towards the end of the week, the ADP Private Employment, Initial Jobless Claims, and Non-Farm Payrolls reports are expected to provide insights into a more balanced labor market.
by Larissa-Trader
EUR/USD: Bearish Momentum Gathers Strength In the 24-hour perspective, the EUR dropped to 1.0827 last Friday before rebounding and closing relatively unchanged at 1.0881 (-0.05%). As highlighted on Monday, although selling pressure seemed to ease, there was a possibility for the EUR to decline to 1.0810 before a potential sustained recovery. In New York trading, the EUR dipped to 1.0802 before staging a recovery. This time, the downward pressure has subsided, making it challenging for the EUR to weaken further. Today, the EUR is likely to trade within a broader range, possibly between 1.0800 and 1.0870. Over the next 1-3 weeks, last Friday (December 1, spot rate at 1.0895), we observed a weakening upward momentum and a slight increase in the downward trend. We anticipated the EUR to "drop to 1.0810." As expected, the EUR reached a low of 1.0802 yesterday (December 4). Although the downward momentum has increased, it is not sufficient to indicate a sustained decline. The EUR must break and maintain below 1.0770 before the possibility of an extended downtrend. The likelihood of the EUR clearly breaking below 1.0770 is currently low, but it will persist unless the EUR surpasses the "strong resistance" at 1.0900 (yesterday's high was 1.0965).
by Gwen_Humuna
EURUSD Still Bullish.. [Let me explain]Hey Traders #EURUSD The chart is pretty self-explanatory. But let's break it down further: First: Why do we see a bullish EU? - As you can see we are in a bullish trend, (obviously) - Everyone is selling... (Phycological), People are saying we have a break of structure, but we are technically just liquidating... - If you have been trading for a while, you definitely see this pattern often ( I don't know patterns and what they're called.. etc. but I researched it up so you guys can research it up as well) - News on Friday! I know Friday is far (8th of Dec), but what forecasts say are usually just banks tryna get people to go think in a certain way. We have a forecast indicating a bullish DXY. This means people will be more focused on selling EU this week. This means more liquidity for banks! Second: Phycology part? We have all heard that trading is 90% psychology, and it's true! - I want you to go look at the ideas on Tradingview right now. You will find 80% saying bearish! Don't forget that only 10% of Forex traders are profitable! So if they're all right. Who's gonna liquidate? And always remember, Trend lines are meant to be broken! But breaking them doesn't mean we are changing trends (Sometimes just liquidity grabs). And candles take the stairs up and the elevator down! I'm in a LONG on EU from 1.08607 targeting 1.09503. Safe trade with no risk since my SL is at BE already! Many people might disagree with the psychology part, but I've been through 3 years of live market and seen this and that. Good luck everyone Trade safe with risk management
Long
by Nanoplexx
13