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Eurusdoutlook

USD strength on Fear surrounding Israel Airstrikes 🗒️Hello traders.. Unfortunately, as War Conflict continues in the Middle east, the USD is feeding on the Fear and Uncertainty by acting as a safe haven during the final Asian session of the week. Earlier & During NY today, roughly 20 minutes before NYSE open, at price 1.06638, I created an update to our previous EurUsd Analysis. I mentioned that price may instead be retracing back towards 1.06345. The reasons were clean traffic to the left on the 1hr/4hr, the bearish 4hr candle close(that engulfed the 3 previous 4hr candles), 1hr resistance zone 1.06855 was respected during London Open, and most importantly perhaps was that we created a bearish scenario for a selloff prior to it occuring--> price may close below 1.0669 1hr support zone & do a retest before heading down. This is exactly the scenario that played out. Now here we find oursleves back at the lows of structure and the weekly candle is about break even. No news for the remianing sessions. Anticpating some clean price action to end the week.. Where? Bears need to get past the daily support level at 1.06184 and I dont see that happening tbh bc no red folder data. I can see us ranging and being choppy on this friday so beware. We may increase back to 1.0605 1hr resistance zone for a bullish scenario
by ShrewdCatfx
1
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.
Short
by MZ_FX_
EUR/USD defends 1.06, can it move up to 1.0750?Hello traders, EUR/USD has managed to defend the 1.06 level so far. Currently, on the 4Hour chart, we are seeing the formation of a bullish candlestick. So, the question is whether there will be a sustained recovery in EURUSD? The first resistance level for the EURUSD bull lies at 1.0665. If the bulls manage to break this level strongly, then there can be further gains in EURUSD. In case of the bullish scenario, I would expect price to reach 1.0760 level. As long as 1.06 level remains unbroken, I would continue to buy the dips in EURUSD
by KaltoireCapital
6
EURUSD: Strong US retail sales push the dollar to new highsThe US economic system acquired a super improve from an first rate growth in retail income in March, which contributed to a sturdy monetary enlargement and a massive strengthening of the greenback. in comparison to different principal currencies. The greenback`s upward push comes amid issues approximately China's economic system, which, despite the fact that first-area annual GDP boom of 5.3% handed expectancies, noticed zone boom and income growth. Retail income in March did now no longer meet forecasts. Furthermore, China's new domestic costs skilled their sharpest decline in 8 years and actual property funding fell almost 17% yr-on-yr. The US greenback index hit a five-month excessive on Tuesday, marking a 4% advantage during the last six weeks. This growth comes as expectancies for hobby fee cuts through americaA Federal Reserve (Fed) are shrinking, even as different critical banks are going through stress to loosen economic policy. As a result, the euro, China's offshore yuan and the British pound fell to their lowest ranges in opposition to the greenback because November. The Japanese yen additionally weakened to a brand new 34-yr low of 154 .60 in line with greenback and forex volatility measures hit their maximum in extra than months.
Short
by Chart_MasterPro
EURUSD Technical Analysis and Trade IdeaIn this video, we explore a trading approach for the EURUSD pair. Our analysis suggests a potential trading opportunity. We provide an extensive analysis of the current price trends, carefully assess the market structure, and consider the dynamics of the market. When conditions are favorable, we identify a possible entry point. However, it’s critical to highlight the necessity of employing effective risk management tactics. Please be aware that this video is designed strictly for educational reasons and is not meant to serve as financial guidance.
by fxtraderanthony
EUR/USD imminent Longs up towards 1.07000 This week's bias closely resembles that of GU, where I'm seeking buying opportunities towards a subsequent selling position. With price melting down and breaking structure to the downside, it has created numerous imbalances that need filling, prompting this bullish outlook. I'll be patient, waiting for the accumulation phase to complete along with a confirmation of change of character (CHOCH) to enter buy positions aiming for the newly established 10-hour supply zone. Subsequently, I'll look to initiate sells to continue the bearish trend downward. Confluences for EU Buys are as follows: - Price left so many imbalances above that need to be filled. - In order for price to continue the bearish trend price must pull back up. - Price is currently inside a 18-hour demand zone with a good initial reaction. - DXY is also near a good supply zone so could expect the dollar to drop a bit this week. P.S. Given the Asian low within my zone, I wouldn't be surprised if price dips further to test a deeper demand area below. Nonetheless, these long positions are merely a temporary move to realign with the prevailing bearish trend. Have a great trading week guys!
Long
by Hassan_fx
EUR/USD key S/R levels for buying and selingHello traders, EUR/USD is slowly and gradually inching upwards. Last week our buy@1.0740 worked perfectly. At the moment, I am seeing a rather interesting development on the 4H chart. EUR/USD seems to have broken out of the descending trendline resistance level. However, note that there is no confirmation of the breakout yet However, if price does break out in a bullish fashion, the next level would certainly be 1.0944. I am avoiding any entries in EURUSD at the moment, as we have CPI data and FOMC meeting minutes due tomorrow and monetary policy statement from ECB on Thursday. These events will lead to a lot of volatility and I am looking to take advantage from that.
by KaltoireCapital
21
EurUsd- 1.05 is a strong possibilityOn Tuesday, April 9th, I posted that rallies in the 1.09 zone, which represents the resistance of the falling trend line for FX:EURUSD , should be sold with a target at the 1.07 zone support level. The following day, CPI figures came in hotter than expected, triggering the anticipated drop. Now, with the pair at the support level, what can we anticipate next? Upon examining the chart, it's evident that the euro has shown weakness throughout the year, with rallies being consistently sold off. Additionally, this marks the third test of this support in 2024, and since December's high, the pattern is a descending triangle (and if we trace back from November, we could even speculate a head and shoulders pattern). Considering these factors collectively, I anticipate a break below 1.07 with a target at the 1.05 support level. Furthermore, if we consider the measured target for both the triangle and head and shoulders patterns, we might even see a drop to 1.02 in the medium term. Any rallies approaching the 1.08 mark should be viewed as selling opportunities in pursuit of a favorable risk-to-reward ratio.
Short
by Mihai_Iacob
1