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Eurusdoutlook

EURUSD Technical Analysis And Trade IdeaIn this video, we provide a comprehensive analysis of the EURUSD currency pair, with a particular focus on the current bearish sentiment in higher timeframes. Throughout this presentation, we explore fundamental aspects of technical analysis, covering elements such as the ongoing trend, price movement dynamics, market structure, and other essential components of technical analysis. As we progress in the video, we closely examine a potential trading opportunity. It's essential to highlight that the information presented in this content is purely for educational purposes and should not be construed as financial advice. Engaging in foreign exchange market trading involves a significant level of risk. Therefore, it's vital to thoughtfully incorporate risk management strategies into your trading plan.
Short
by fxtraderanthony
EURUSD Where to next?Looking at the charts on the weekly TF, price is attempting a retest on the previous support already broken. If it holds as a new found resistance we just might see price push lower on $EURUSD. For now, I'd rather wait to see the way price will choose to move. Key area in focus is 1.06964 Happy trading. Follow and like for more. Thanks Disclaimer: All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
by Mbjoey
EURUSD Faces Headwinds as Dollar Strengthens?EURUSD struggled to build on yesterday's gains and experienced a decline since the start of Tuesday's Asian session. The surge in the US Dollar index exerted additional pressure on this currency pair, causing it to slip below the critical 1.0600 level. The anticipation of a more stringent stance by the Federal Reserve (Fed), supporting the upward trajectory of US bond yields and fortifying the US dollar, impeded EURUSD from extending its upward momentum seen in yesterday's trading. This aligns with the prevailing sentiment from the European Central Bank (ECB) that suggests no imminent interest rate hikes. This sentiment gained further credence from data indicating a deceleration in Germany's annual consumer inflation, dropping from 4.3% to 3.0% in October. This marks the lowest inflation rate since August 2021, a concerning development amid looming recessionary threats. Market participants remain confident in the Fed's commitment to its hawkish stance, given the resilience of the US economy in the face of persistently high inflation. However, all eyes are now fixed on the outcomes of the FOMC meeting and subsequent statements on interest rate policies. Today's Market Focus: Market participants are eagerly awaiting signals for today's potential market movements, with a particular focus on the release of Eurozone CPI data for short-term trading opportunities. Subsequently, attention will shift to the release of key macroeconomic data from the US, including the Chicago PMI and Consumer Confidence Index from the Conference Board. Trading Opportunities: As market projections suggest that the European Central Bank will maintain interest rates, and the Fed is expected to adhere to its hawkish stance, the weakening of EURUSD below the 1.0600 level remains a prevailing theme. This weakness is exacerbated by the strengthening US dollar and rising bond yields ahead of the FOMC meeting. Technical Analysis: In terms of technical analysis, the Fibonacci retracement at 23.6% (1.0643) acts as an immediate resistance level, followed closely by the 50-day Exponential Moving Average (EMA) at 1.0654. A potential reversal at these levels could instigate a decline in the EUR/USD pair. The technical dynamics of the EUR/USD pair indicate a notable weakening in momentum, notably signaled by the 14-day Relative Strength Index (RSI) dropping below the pivotal 50 level. This RSI movement suggests a bearish momentum, underscoring a broader sentiment of market weakness. Trading Strategy: Observing the current market conditions, it appears there is potential for executing a SELL action at the 1.0585 level should the EURUSD persist in its downward trend. In such a scenario, astute traders may contemplate a strategic approach by establishing a profit target at the 1.03500 level. Additionally, incorporating flexibility to adjust stop-loss levels proves to be a prudent measure, aligning with the individual considerations of each trader. However, it is imperative to underscore that trading decisions must consistently derive from meticulous analysis and a profound understanding of the associated risks. Deliberations regarding a SELL action or any trading maneuver should be approached judiciously. Traders are well-advised to take supplementary steps, such as staying abreast of current economic news or other market factors, before arriving at a definitive decision.
Short
by fardycurry
EURUSD | Walking on a CloudPure technical analysis. Dynamic support broken in August, dynamic resistance broken on October 23'. Due to Ichimoku Cloud indicator, we are still in bullish trend of high volatility, BUT! Price is inside the cloud, which means that for now, market is undecided about further direction. Conversion (Orange) and Base (Grey) lines are above the price action (Bearish signal). Upper breakout of the cloud was rejected and price was pushed inside again. For now, retest of dynamic support and previous low (weak) at 1.04416 is in favor. 0.382 fibo from September 22' at 1.06108 and 0.5 fibo at 1.0406. Volume since July in strong favor of bears. Feel free to share your thoughts!
Short
by fxintouch
1
Weekly chart analysis for EUR/USD: Signs of reversal?Hello traders, sometimes, it is essential to analyze the charts in the weekly timeframe to get the bigger picture of the trend. Of course, it doesn't mean that you must take your entries on the weekly timeframe. So, if you look at the weekly chart of EUR/USD, the very first thing that you would notice is the weekly support around the 1.05 area is unbroken . Secondly, if are seeing the formation of a base in the level between 1.05-1.06. So, in the coming trading sessions, if we see a strong impulsive move to 1.0650 and beyond, expect EUR/USD to reach 1.08 and even higher over the course of the next few weeks.
by MarcellusLUX
28
EURUSD Trades Looking For Long, But Daily is Down.{25/10/2023}Educational Analysis says EURUSD may go long according to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why long? Broker OANDA. After a downtrend on the daily timeframe, A 4-hour time frame looks promising up to the recent lower high, Long setup after eating stop loss from Short Sellers, Because EU fair value gaps are unfilled in a 4-hour time frame. The last Analysis is jointly connected in this updated one. So, trade is already on with RR is 1: 4.45 I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS. Happy Trading, Fxdollars.
Long
by VishalBudhrani
EURUSD getting weakerWeekly key level around $1.07. In long term EURUSD buyer seems like not so interested, as the choppy movements showing on H4. Minor resistance is so close between the H4 waves indicates weak buyer, the movements almost flat. Strong movements is when the price move rocketing steep no retracement with small "pause" which SMC trader usually called them as "rally base rally" or RBR. But since the 1st wave after H4 "choch", there is no "RBR" formed in H4 structure. Even inside H4 waves showing price have to build some other smaller waves to keep push the price up. Now it's in 4th waves. If observe carefully, it's build up rising flag pattern which usually the sign of downtrend will continue. I expecting will massive drop after 5th waves complete. If Euro "want" to still continue upward, then it need strong fundamental data to support it to go beyond key level $1.07.
Short
by UnknownUnicorn33119711
EURUSD Long Term Buy Trading IdeaHello 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
EUR/USD trading opportunities revealed! Two trades to watch this ⚡️ For a potential long trade: Look for a rebound from the support zone between 1.0630-1.0640. The nearest resistance level is at around 1.0700, but the pair could rise further to test the next resistance of 1.0760 if momentum builds up. 📈 💪🏽 For a potential short trade: Keep an eye on the pair around the resistance zone of 1.0700. If it faces strong selling pressure here, it can drop back down to retest the support levels. The next support below is at 1.0620. 📉 "The recent price action in EUR/USD has opened up some intriguing trading possibilities. Let's take a closer look at the key zones on the daily chart to find potential entries..." "If you see a bounce from the 1.0630-1.0640 area, go long for a move back to resistance at 1.0700. But be prepared to bank profits there, or it could keep rising to 1.0760! 🤑 " "Alternatively, keep an eye on sells around 1.0700 resistance. A break below could drop the pair straight back down to further support at 1.0620. 💸" "With solid risk/reward ratios, these trades have the potential to be real winners. But don't forget to manage your risk! 😉 "
Long
by artotrading
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