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Eurusdoutlook

EURUSD Technical analysis and 2 Trade IdeasAt present, we're witnessing a noteworthy shift in the dynamics of the EURUSD currency pair. In the context of this, a notable inverse relationship becomes apparent when we consider the Dollar Index (DXY), which is retracing in higher timeframes. The USD current weakness is paving the way for bullish momentum with the EURUSD. In our video, we delve into several critical elements of technical analysis, including market structure, price action, and the overall trend. Furthermore, we explore two potential trade opportunities. It's crucial to emphasize that the video serves an educational purpose, and it should not be construed as financial advice.
by fxtraderanthony
EURUSD LongAnalysis of EUR/USD for the week of October 23rd to 29th, 2023 Technical Analysis EUR/USD was trading at 1.0575 on October 22, 2023. The current price level is just below the 50-day Simple Moving Average (SMA50) at 1.0560, with the 200-day Simple Moving Average (SMA200) at 1.0615. From a technical perspective, EUR/USD is currently in a sideways phase, with the price level below both SMA50 and SMA200. The next support zone is at 1.0550, followed by 1.0500. Key Levels of Major Banks The key levels provided by major banks for the upcoming week are as follows: Goldman Sachs: 1.0550/1.0650 JPMorgan Chase: 1.0500/1.0700 Citigroup: 1.0450/1.0750 All of the key levels from major banks are above the current price level, indicating that these banks anticipate further EUR/USD appreciation. Fundamental Analysis The fundamental situation for the EUR is currently mixed. The European Central Bank (ECB) announced an interest rate increase in July 2023, which could strengthen the EUR. However, the European economy is suffering from the effects of the Ukraine conflict and high inflation, which could weaken the EUR. The U.S. Federal Reserve (Fed) has also announced an interest rate increase in July 2023, which could strengthen the USD. However, the U.S. economy is also affected by the Ukraine conflict and high inflation, which could weaken the USD. Statistical Model For the statistical analysis of EUR/USD, a simple regression algorithm was used, based on historical daily chart data of EUR/USD collected from 2000 to 2023. The statistical model indicates that EUR/USD has exhibited a strong positive trend over the last 20 years. The regression equation is: EUR/USD = 1.05 + 0.0002 * Day The regression line shows that EUR/USD increases by 0.0002 per day, equivalent to an annual growth rate of 0.7%. Forecast Based on the technical analysis, fundamental data, and the statistical model, it is anticipated that EUR/USD will continue to rise in the upcoming week. The price target for the next week is 1.0640, with a 60% probability of an increase in EUR/USD. Strategy: I would enter a long position in EUR/USD if the price rises above 1.0639, placing a stop-loss order at 1.0550. The profit target would be set at 1.0700. Conclusion EUR/USD is currently in a sideways phase, and the fundamental situation for the EUR is mixed. There is a low risk of the price falling in the coming week. Risk Disclaimer: The forecast is based on technical, fundamental, and statistical analyses. However, there is no guarantee of the accuracy of the forecast. The market can develop unexpectedly.
Long
by Edgezone
3
Everyday perspective.EUR/USD Resistance Level 2: 1.0650 Resistance level 1: 1.0600 Spot price: 1.0582 Support bit 1: 1.0530 Support bit 2: 1.0448 EUR/USD rose 0.04% to 1.0593. The dollar retreated in a technical profit correction after Federal Reserve Chairman Jerome Powell said rising market interest rates may reduce the need for the Fed to take action. EUR/USD continues to find support amid the dollar's retreat and volatility. The euro still appears to lack a strong unique bullish stimulus to push the pair towards the 1.0650/1.0700 zone. Markets are likely to await hints from the European Central Bank and more data from the Eurozone next week, but the likelihood of a quick pick-up in bullish momentum for the euro is not too high. This means that EUR/USD should now be driven almost entirely by USD movements. The top is still blocked below 1.0650. Although the technical indicators have risen towards the area, the direction is still unclear. Only when the above-mentioned resistance level is completely broken down, the EUR/USD may be expected to embark on a clear rebound path. .
by Zenobia-Harte
EUR/USD back to 4H resistance, can the bulls break it?Hello traders, EUR/USD is knocking at the dynamic resistance on the 4Hour chart once again. Now, this area is critical as it determines what the next direction for EUR/USD will be. As per my analysis, EUR/USD will go bullish in the next few weeks. So, if the 1.0580-1.06 zone is broken with a strong bullish candle, we can expect 1.0750 and even 1.09 in the next 3-4 weeks. I will continue to buy the dips in EUR/USD if price reaches 1.05 level again.
by MarcellusLUX
18
Make or break level for EUR/USD, Best level to buy?Hello traders, EUR/USD is currently at a make or break level. Notice that EUR/USD has struggled at the moving average in the 4hour chart. If the bulls are unable to take the price above 1.06, then we might see further drops in EU . Currently, I do not have any open positions in EUR/USD and I believe the best approach right now is to wait and observe if price hits a key level and then place trades. In case, price falls to the 1.0450 level, I would definitely consider buying.
by MarcellusLUX
15
EURUSD Long Term Buy Trading Idea Hello Traders In This Chart EURUSD DAILY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
2
EURUSD 4H TECHNICAL ANALYSISEURUSD has recently experienced a significant surge, as evidenced by the confirmed buy signals indicated on the chart. However, a comprehensive analysis suggests an impending bearish movement influenced by the identifiable order block within the range of 1.06198 to 1.06723. This zone is likely to exert a substantial resistance, triggering a potential reversal in the current bullish trend. To ensure a more robust assessment, it is advisable to wait for a confluence of the signals, particularly focusing on the emergence of a choch, which would provide a more comprehensive and corroborative indication of the market's directional shift. This cautious approach emphasizes the need for confirming indicators to support the anticipated bearish movement, thereby reducing the potential risks associated with premature trading decisions. Furthermore, in monitoring the price action at the 1.06398 resistance level, investors can gain valuable insights into the market dynamics and potential trend reversals. The careful observation of price fluctuations in this critical range will enable a more informed evaluation of the market's response to the resistance level, facilitating a better understanding of the underlying market sentiment and potential trading opportunities. Considering the current market conditions and the identified order block, it is crucial to adopt a prudent approach, placing emphasis on the confirmation of the choch for confluence, and closely monitoring the price action at the 1.06398 resistance level. This comprehensive analysis will enable investors to make well-informed and strategic trading decisions, mitigating potential risks and capitalizing on the projected bearish movement in the EURUSD market.
Short
by fzm_100
EURUSD: Core Retail Sales and risksThe EUR/USD firmly in the green for Tuesday after US Retail Sales beat market expectations and saw upside revision to previous figures, sending investor risk appetite into the ceiling and sending the US Dollar (USD) broadly lower, bolstering the Euro (EUR) and taking the EUR/USD up from the day's early low of 1.0532 and sending it within inches of the 1.0600 major handle. Headline US Retail Sales figures for September broadly beat median market forecasts of 0.3%, printing at 0.7% and seeing an upwards revision in the previous month's reading from 0.6% to 0.8%.
by Sphyn-Trader
1
Buy the dips as long as the support holds.Hello traders, in my previous EUR/USD idea, I recommended buying EU@1.0460 level. If you followed that, you made over 170 pips profit as EU reached 1.0640 level. Currently, EUR/USD is in the vicinity of the 1.0550 level. The current dip seems like a buying opportunity to me. In fact, I already bought EU@1.0495 on Friday. I recommend buying the dips in EUR/USD as long as price stays in the support zone. The initial bullish target would be 1.0740.
Long
by MarcellusLUX
19
Why EurUsd will drop 1500 pipsHello Traders and Investors, My name is Philip and I am a German swing-trader with over 4 years of trading experience. I only trade the higher timeframes, preferably the monthly chart, because this allows me to capitalize on the major market swings. I view trading as a long term game over the next 20 years which will help me to build massive wealth - it is not a get rich quick scheme. ------------------------------------------------------------------- Today I want to share with you my outlook on EurUsd: Since the beginning of 2007, EurUsd has been trading in a pretty solid downtrend, always rejecting the upper and lower trendline of the descending channel. With the recent break and retest of the $1.095 structure level, market structure is now definitely back to bearish. ------------------------------------------------------------------- Most of the people always follow the quick money. But the quick money is never the big money. They think that making 5% a month consistently is reasonable, which is one of the reasons why so many traders fail. The only think which you can control is your risk, everything else is unknown. Keep your long term vision!
Long
by basictradingtv
44
EurUsd retraces 📎 / CPI Data as catalystEurusd retraced 100 Pips today with Infaltion data as the catalyst for a continuation of higher timeframe momentum. How Surprised can we be of a move to the downside with the Weekly/Monthly timeframes doing just that for the last 3 months. The news release was stronger than what was expected for the USD. Inflation is increasing at a faster rate than expected. Let's buy the USD as a safe haven given these uncertain and troubled times.. Technicals : Large Bearish candle just printed on the Daily timeframe. The next Daily candle will likely have a bottom wick and is why it is still reasonable to look for a continuation play. That said, with the anticipated London session volume, we may expect a pullback to 1.054 weekly level or 1.056 before observng more bearish movement on Eurusd
Short
by ShrewdCatfx
EUR/USD Hovers at 1.0600 as Mixed Sentiments Prevail...UR/USD Hovers at 1.0600 as Mixed Sentiments Prevail EUR/USD is navigating mixed sentiments against the US Dollar (USD) on Wednesday, hovering around the 1.0600 level. The day kicked off with European stocks posting slight losses, which has led to a somewhat indecisive performance of the Euro. The USD Index (DXY), a gauge of the USD's strength against a basket of major currencies, currently hovers near monthly lows, trading just below the 106.00 level. This reflects the Greenback's susceptibility amid improved sentiment in risk markets. Investors are still processing the recent dovish messages from officials of the Federal Reserve (Fed), which have exerted downward pressure on the US Dollar. In terms of monetary policy, the prevailing market consensus anticipates the Fed to maintain interest rates at their current levels for the remainder of the year. Simultaneously, there is speculation in the market about whether the European Central Bank (ECB) will pause its policy changes, despite inflation levels surpassing the bank's target and concerns about the possibility of a future economic recession or stagflation in Europe. On the economic front, the final Consumer Price Index (CPI) data for Germany revealed a year-on-year increase of 4.5% and a 0.3% monthly rise in September. In the United States, investors are keeping an eye on various data releases. This includes the weekly Mortgage Applications reported by the Mortgage Bankers Association (MBA). Subsequently, the market will see the publication of September's Producer Prices, along with the release of the FOMC (Federal Open Market Committee) meeting minutes from September. At that meeting, the Fed decided to keep interest rates unchanged. Investors are treading cautiously due to the recent dovish stance of several Federal Reserve officials who emphasized the importance of maintaining a restrictive monetary policy to control inflation. Anticipation is building as the market awaits the release of the FOMC meeting minutes from September, which is expected to provide insights into the Fed's decision-making process. The cautious sentiment in the market is impacting equity markets positively, contributing to a rise in stocks. Investors are closely monitoring how central banks, especially the Fed and the ECB, will navigate the current economic challenges and how these will influence currency markets. Short-Term Setup - Our preference: Short positions below 1.06800 with targets at 1.05500 & 1.05000 in extension.
Short
by FOREXN1
27
EUR/USD Bullish Update📈 **Forex Market Update: EUR/USD** 🇪🇺🇺🇸 🔥 Exciting Developments in the EUR/USD Pair! 📊 📈 **Bullish Breakout**: The Euro has shown remarkable strength by breaching the pivotal 1.0550 resistance level against the US Dollar, signaling a potential shift in the market sentiment. 📉➡️📈 💹 **Bullish Trend Line**: On the hourly EUR/USD chart, a substantial bullish trend line is emerging, with a reliable support level around 1.0577. This suggests a strong foundation for further gains. 📈📊📈 🚀 **Recovery Wave**: The pair embarked on a recovery wave, commencing from the 1.0450 level. It impressively cleared the 1.0485 barrier, marking the beginning of a short-term bullish trend against the US Dollar. 📈📈📈 📊 **Consolidation Phase**: Currently, the pair is consolidating its gains above the 23.6% Fibonacci retracement level, calculated from the low of 1.0519 to the high of 1.0619, emphasizing its resilience. 🔄💪 📉 **Immediate Support**: In case of a temporary pullback, the immediate support level to monitor is at 1.0595. 📉🛡️ 🚧 **Immediate Resistance**: The next challenge lies at the 1.0615 zone, followed by a more significant hurdle at 1.0650. 🚧📈 🚀 **Upside Potential**: An upside break above the 1.0650 level could potentially propel the pair towards the formidable 1.0700 resistance. 📈🚀💰 💡 Whether you're an experienced trader or a novice just starting out, closely monitoring these levels can empower you to make well-informed trading decisions. Knowledge is the key to success in the forex market! 📚🧠💼 #EURUSD #ForexTrading #CurrencyPair #BullishTrend #FibonacciRetracement #TechnicalAnalysis #TradingSignals #ForexNews #FinancialMarkets 🌐💹📰
Long
by T-Q