🌟 EUR/USD Channel breakout ..BUY for further upside move🔥👉🏻EUR/USD has continued the bounce from 1.0725 that started last Thursday, and the pair is now re-testing the 200-day moving average.
👉🏻EUR/USD had previously tested the 200-dma as resistance on NFP Friday, which led to a pullback. But bulls held a higher-low at prior resistance of 1.0725 and that’s allowed for another re-test of the moving average.
👉🏻The big question now is how the USD and related pairs, especially EUR/USD, perform around the Wednesday release of CPI.
Eurusdlongsetup
EURUSD: Dollar steadies ahead of CPI dataThe dollar index and dollar index futures were little changed during the Asian session on Monday.
But traders remain largely biased against the greenback ahead of key US inflation data later this week.
The CPI - released on Wednesday - will be closely watched, as it could influence the US interest rate outlook.
The dollar saw wild swings last week as mixed U.S. economic data raised questions about when the central bank will start cutting interest rates this year. However, while the US economy appears to have cooled in recent months, inflation is forecast to remain high.
EURUSD Daily setupHere we are again with a daily signal. I like to work with limit order to reduce the risk and have a better RR, and today i placed a sell limit order at 1.0801. Daily bias is bearish, and it's what i was looking for considering i am bearish on EU from some days. So, good chance to follow the main trend. Stoploss just above local top, targeting 1.078
EURUSD I Potential bullish rise Welcome back! Let me know your thoughts in the comments!
** EURUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EUR/USD Longs from 1.07400 up towards 1.08200EU shares a similar bias with GU, as they exhibit comparable movements. Therefore, I'll be focusing on potential buying opportunities this week, particularly from either the 6hr demand zone or the one just below it. Given the presence of an equal low beneath the initial demand, it wouldn't be surprising if this level is breached to reach the subsequent demand zone.
In the event that price doesn't reach these levels, I'll be monitoring for a wyckoff accumulation pattern to emerge. This would signal a buying opportunity, aiming for an upward move towards the major supply zone, mirroring GU's position. I anticipate this scenario unfolding around midweek, so we'll have to wait and see.
Confluences for EU Buys are as follow:
- Price has been bullish in the recent price action as you can see via the market structure.
- Two 6hr demand zones in close proximity has caused a break of structure to the upside.
- lots of liquidity in the form of equal highs above to target as liquidity.
- Unmitigated 2day supply that price needs to go towards.
- Dollar is also dropping so it makes sense with this bias. as they move opposite.
P.S. If price continues its upward movement, I'll identify a new demand area for potential buy positions. Alternatively, I'll wait for price to reach the supply zone to initiate sell trades from that point.
Lets catch these pips!
EURUSD Trading Plan - 08/May/2024Hello Traders,
Hope you all are doing good!!
I expect EURUSD to go Up after completing this correction.
Look for your BUY setups around the marked zone.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
EURUSD BUY IDEATECHNICAL
EURUSD is on very good buy zone for day trading.
We have impulse and nice slow correction to the zone.
Daily timeframe looks bullish too with 3 days slow move for correction.
On 4H timeframe this zone is very good support.
If the price form candle formation buy position will be great.
TP1 at 1.07880
TP 2 at 1.08126
Good luck to everyone
Let's look at the EURUSD answer sheet and buy and sellHello, friends. Nice to meet you
I hope you all have a good day
The candle is located inside the Ascending Broadcasting pattern and can be dip once more towards the RED line.
And if it get to the RED line, We expect to see a successful rebound and break through the Ascending Broadening pattern upper line.
EURUSD: The dollar steadied after a payrolls-led plunge, with maThe dollar index and dollar index futures both rose 0.1% in Asian trading after falling 0.8% last week. The greenback fell on weaker-than-expected non-farm payrolls data in April.
The data reinforced expectations that a cooling labor market will give the Federal Reserve more incentive to start cutting interest rates. CME's Fed rate tracker shows traders are increasing expectations for a 25 basis point rate cut in September.
EURUSD Following the planEURUSD is perfectly following my plan. I closed my first short for around 30 pips gain and i am now waiting for a confirmation to enter again. My idea is to wait till 11 AM NY time, i want to see if US session can bring us some volatility. If there i will see a bearish pattern, i will enter short again targeting the 1.06 area. Invalidation above the black line at 1.07350
EURUSDDear Traders,
We have witness change in price action, our bias remain same although now we are looking at the different area from where we can take entry. The first area is identified on the chart as 'entry' and then there are three areas to set 'take profit'. For stop loss it is up to your own risk management.
Remember, do your own research too, and only take if it matches your own chart analysis.
EURUSD - This might be the one 50:1 RRR!! Hello everyone!
I shared a buy opportunity on FX:EURUSD earlier today that got stopped out unfortunately but I think everything happens for a reason and we managed to get a entry even lower for a better possibility to catch the reversal.
This trade gonna require a lot of mental and patience however my positions are in BE and login deleted on metatrader. Gonna be interesting to see how it plays out.
What do you think?
EURUSD - Short after filling the imbalance ✅Hello traders!
‼️ This is my perspective on EURUSD.
Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look for a short. I wait price to continue the retracement to fill that huge imbalance higher and then to reject from bearish order block + institutional mid figure 1.08500.
Fundamental news: Upcoming week is full of news in USA, on Wednesday (GMT+3) we have Funds Rate + FOMC and of Friday (GMT+3) Unemployment Rate + NFP. All these news have high impact on USD, so pay attention to the results in order to validate the analysis.
Like, comment and subscribe to be in touch with my content!
EURUSD
In the 4-hour timeframe, EUR/USD appears to be exhibiting a bearish trend as it tracks within a descending channel pattern. This pattern suggests that sellers are exerting control over the market, leading to lower highs and lower lows. Traders may look for opportunities to enter short positions, targeting potential support levels within the channel. However, it's essential to monitor for any signs of reversal or breakout from the channel to adapt to changing market conditions.
EURUSD Profit Opportunity with the Crab Harmonic PatternEURUSD is currently displaying characteristics indicative of a Crab Harmonic Pattern (XABCD) formation. This pattern is observed alongside a significant trendline, adding further confluence to our analysis.
Key Levels and Fibonacci Retracement:
Point D of the Crab Harmonic Pattern coincides with a key resistance level, accentuating its significance. Additionally, Point D aligns closely with the 0.618 Fibonacci retracement level, strengthening the case for a potential reversal.
Trade Setup:
Based on the analysis, we recommend initiating a short position upon confirmation of bearish momentum at the identified entry point of 1.06626. This entry aligns strategically with the projected reversal from Point D of the Crab Pattern.
Risk Management:
To mitigate potential losses, a stop loss is advised at 1.06913. This level provides a reasonable buffer to withstand potential market fluctuations while preserving capital in case of adverse price movements.
Profit Targets:
We propose three profit targets to capitalize on the anticipated bearish momentum:
Take Profit 1 (TP-1): 1.06344
Take Profit 2 (TP-2): 1.06048
Take Profit 3 (TP-3): 1.05760
Conclusion:
In conclusion, the analysis suggests a compelling trading opportunity based on the formation of a Crab Harmonic Pattern and key technical levels. However, it is essential to exercise prudent risk management and closely monitor price action for timely adjustments to the trade plan.
This technical analysis report serves as a guide for informed decision-making in the dynamic forex market environment.
Disclaimer:
Trading forex involves inherent risks, and past performance is not indicative of future results. Traders should conduct their own research and seek professional advice before executing any trades.