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Eurusdprediction

EURUSD Weekly Analysis & ForecastHi Traders! As we showed in our last analysis (see chart below), the pair had formed a Reversal Pattern on both daily chart and intraday chart confirming the bullish trend in play. That said, from a technical point of view we also have a bullish harmonic structure on weekly chart with a potential Target around 1.1065. If our analysis is correct, we should wait for some pullbacks before trying to take a long position, but we will talk about that during Monday's session. PREVIOUS ANALYSIS KEY FUNDAMENTALS POINTS The Federal Reserve held its benchmark overnight interest rate steady in the 5.25%-5.50% range at the conclusion of its July 30-31 policy meeting, but also signaled that rate cuts may begin as soon as the U.S. central bank's meeting in September. The decision will hinge on data between now and then. U.S. firms added an underwhelming 114,000 jobs in July, and revisions to the prior two months knocked 29,000 positions from the previously estimated number of payroll jobs. That pushed the three-month average total payroll growth down to 170,000, below the level typical before the COVID-19 pandemic. The unemployment rate also rose to 4.3%, which could heighten fears that the labor market is deteriorating and potentially making the economy vulnerable to a recession. The number of people in a job or looking for work grew. Government data in late July showed the slowing of the labor market is being driven by low hiring, rather than layoffs, with hires dropping to a four-year low in June. Average hourly wages rose 3.6% in July compared to a year ago, versus a 3.8% annual increase in June. The Fed generally considers wage growth in the range of 3.0%-3.5% as consistent with its 2% inflation target. In a sign of the job market's continued resilience, the level of job openings remained above 8 million in June, while the number of open jobs available for each unemployed person fell slightly to 1.2, remaining roughly where it was in the years before the pandemic. Fed Chair Jerome Powell has kept a close eye on the U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) for information on the imbalance between labor supply and demand, and the pandemic-era jump to more than 2 to 1 in the number of open jobs for each available worker was emblematic of the time. Things have cooled substantially. Other aspects of the survey, like the quits rate, now down to 2.1, have edged back to pre-pandemic levels in what Fed officials view as an emerging balance between the supply and demand for workers. While the hiring rate has slowed, for example, the layoff rate has remained stable in a sign of companies holding on to workers. The personal consumption expenditures price index, used by the Fed to set its 2% inflation target, shows inflation slowly subsiding. It fell in June to a 2.5% annual rate, from 2.6% in the prior month. Core PCE prices, stripped of volatile food and energy costs, remained unchanged in June at 2.6%. Despite that reading, the data looks set to help Fed officials build more confidence that inflation is moving toward the U.S. central bank's 2% target. On a month-to-month basis, the PCE index rose 0.1% while core PCE prices edged up 0.2%. Officials have begun to pay closer attention to signs of weakening demand in the economy as a precursor to a slowed pace of price increases. The separate consumer price index fell in June by 0.1%, with drops in both volatile energy items and core consumer goods like vehicles, and weakness in housing costs that Fed officials have long been waiting to see. The 0.2% rise in shelter prices was the slowest since August of 2021, and overall it was the weakest CPI print since May of 2020. The data pushed the annual rise in consumer prices down to 3% from 3.3% in the prior month, with the more volatile core index, excluding food and energy, falling to 3.3% from 3.4%. Thanks for watching
Long
by TheAnonymousBanker
16
Don't miss the great SEE Opportunity in EURUSDWhile the longer-term trend on this chart is bullish, the immediate situation hints at a possible short-term bearish correction. If the price breaks below key support levels, particularly the upward trendline, the trend could shift to bearish in the short term. However, until those support levels are broken, the overall trend remains bullish. Support and Resistance Levels: TP-1: 1.11220 TP-2: 1.10920 TP-3: 1.10520 TP-4: 1.10100 These are likely target points (TP) for potential short trades if the price reverses from its current level.
Short
by forexcitysignal
SHORT EUR/USD from 1.1125"The trend is your friend" is a well worn FX trading adage. Its meaningless. The trend is your friend if the trend is heading in the same direction as your trade but if its not then the trend is your enemy. EUR/USD is in an uptrend and has been since 1st August. The price has now hit a level last seen on the 28th December 2023. The last time the price was at this level, the trend ended and reversed 550 pips. Anyone LONG on 28th December 2023, following the trend, would have lost heavily without a STOP in place. Trends always end eventually and when they do they present a trading opportunity. I have a SHORT EUR/USD trade on becuase: a) we are at a historically significant high b). H4 on the Andean Oscillator see the red SELL line rising off zero as the green BUY line ceases rising. c).H1 Andean Oscillator see the red SLL line rising signifcantly as the green line falls. d). RSI on H4 is decling from overbought levels. e). MACD on H4 has seen the fast MA move south over the slow MA GBP/USD daily candle is red (BEARISH) NZD/USD daily candle is red (BEARISH). Trading is gambling. No-one knows where the price of any instrument will be in an hour or in 4 hours so EUR/USD MAY decline from these levels. This is the key - the price MAY decline. I have a tight 25 pip STOP above the recent high so my risk/reward if EUR/USD does decline makes this a trade worth taking. But just to return to my opening line - EUR/USD IS technically still in an uptrend which is why a STOP is MANDATORY (it should be for ALL trades). We cannot rule out EUR/USD BULLS stepping in to try and drive the price higher particulalry as the USD is WEAK currently.
Short
by forextraplaces
EurUsd- Buy dips should remain the strategyIn a previous EUR/USD analysis, I mentioned that the pair could reach the 1.11 resistance zone. Yesterday, the single currency indeed climbed to a high of 1.1088 against the dollar and is currently consolidating its recent gains. The trend remains strongly bullish, and the trading strategy should continue to be "buy on dips." The ideal entry point for this strategy is the 1.1020-1.1030 confluence support zone, with a target of the 1.11 zone, at least for now.
Long
by Mihai_Iacob
2
EUR/USD Outlook ICT ConceptsEUR/USD Analysis 💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on EUR/USD, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 💡 Previous Analysis Review: In the last analysis, we anticipated a potential retracement after sweeping the Previous Month High (PMH). However, instead of pulling back, the price continued its bullish expansion, surpassing both the Previous Week High (PWH) and the Previous Day High (PDH). 📍Current Market Overview: • Current Price: EUR/USD is trading at 1.10818, showing strong bullish momentum after sweeping key highs. Key Levels: • PDH (Previous Day High): Recently swept, indicating potential exhaustion of the upward move. • PWH (Previous Week High): Also swept, adding to the likelihood of a pullback. • SSL (Sell-Side Liquidity): Located below the current price, these levels could be targeted during a retracement. • Daily Imbalance: Positioned lower, this is a significant area of interest if the price retraces. Weekly VI (Volume Imbalance): This level could act as a strong support during a deeper retracement. 🔍 Identifying Key Levels • BSL (Buy-Side Liquidity): This is positioned above the current price and represents unfilled buy orders. However, given the recent sweeps, it's more likely the price will retrace before attempting to reach this level. • PDH & PWH: Both have been swept, signaling a potential pullback. • Daily Imbalance: This area could serve as a magnet for price, offering a potential support zone during a retracement. • Weekly VI: Positioned lower, this imbalance could act as a strong support if the retracement is more significant. 📊 Key Considerations • Post-Sweep of Highs: After sweeping the PDH and PWH, the market often experiences a retracement to gather liquidity and balance the order flow. • Potential Retracement Zones: The Daily Imbalance and Weekly VI are key areas to watch for support if the price starts to pull back. • Sell-Side Targets: The SSL zones, including the PWL (Previous Week Low), could be the ultimate targets during a bearish retracement. 📈 Bullish Scenario For the bullish scenario to resume: • Hold Above Daily Imbalance: The price needs to find support at the Daily Imbalance or the Weekly VI, followed by a potential continuation higher towards the BSL. • Rejection at Lower Levels: If the price retraces and finds strong buying interest at the Daily Imbalance or Weekly VI, this could trigger another move higher. 📉 Bearish Scenario A bearish scenario should be considered if: • Break Below Key Imbalances: If the price breaks below the Daily Imbalance and Weekly VI, this would indicate a deeper retracement, potentially targeting the SSL levels and the PWL. • Targeting SSL Zones: A move towards the SSL zones would be likely if the bullish support levels fail. 📊 Chart Analysis Summary • Bullish Expectation: Requires the price to hold above the Daily Imbalance or Weekly VI, with potential for another upward expansion. • Bearish Expectation: A break below these imbalances would signal a deeper retracement, targeting the SSL and potentially the PWL. 📝 Conclusion: After sweeping the PDH and PWH, the market is likely to experience a pullback. The Daily Imbalance and Weekly VI are crucial areas to watch for support. If these levels hold, the bullish trend may resume. However, if they fail, a deeper retracement towards the sell-side levels is likely. 🙏 Thank you for joining us! Exploring EUR/USD today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by RealArmin
1
EURUSD, Ready to fall ?Hello Traders, Hope you are doing great. for upcoming week, we'll probably see the continuation of upward movement to Specified Red zone at first, and after that we'll probably see a fall to specified dashed lines. so with a proper trigger we can open a short position. we also have regular divergence in 4H and Hidden Divergence in Weekly time frame. And finally tell me what do you think ? UP or DOWN ? leave your comment below this post. If this post was helpful to you, please like it and share it with your friend. THANKS.
Short
by aminrzb
17
EUR/USD Shorts from 1.11000 back down to demandPrice action for EUR/USD is very similar to GBP/USD (GU). If GU continues rising to mitigate that deeper supply, it aligns with the 1.11000 level in the 20-hour supply zone for EUR/USD. I expect the bullish pressure to gradually die down and for price to eventually mitigate this supply. Therefore, I don’t expect a major move on Monday, but this scenario could play out over the week. If price sells off from the 20-hour supply zone, I will then wait for scenario (B), which involves the mitigation of the daily demand that caused a break of structure to the upside. There's also a refined version of this demand on the 19-hour time frame, which looks promising for buys to continue the bullish trend. Confluences for EUR/USD Sells: - Bullish pressure is getting exhausted, suggesting a potential retracement. - There is a lot of liquidity below, along with imbalances that need to be mitigated. - This outlook aligns with expectations for the DXY to rise slightly. - This is a counter-trend short-term trade with the goal of eventually rejoining the pro-trend. P.S. If price reacts to the current imbalance and goes back down, I will look to enter buys to take price back up to the supply zone. However, buys are favorable due to the current bullish trend.
Short
by Hassan_fx
EURUSD analysis week 33Fundamental Analysis EUR/USD regained momentum and rose to 1.1020 in the American session on Friday after snapping a three-day winning streak. Upbeat macroeconomic data from the United States boosted the US dollar (USD) and sent EUR/USD lower. The US Department of Labor reported that initial weekly jobless claims fell by 7,000. Improved risk sentiment on Friday morning made it difficult for the USD to continue Thursday's gains and sent EUR/USD higher. The US economic calendar will feature data on Housing Starts and Building Permits for July. Additionally, the University of Michigan will release preliminary Consumer Sentiment Index data for August. The market reaction to these data may not last long. Technical Analysis EURUSD continues to trade in an ascending channel with the nearest support and resistance in the price range at 1.106 and 1.091 after gaining ground above 1.100. On the D1 timeframe, the EMA 34 has crossed well above the EMA 89, indicating a strong bullish market structure, with the upside momentum heading towards the most important resistance around 1.113. On the other hand, any daily close below the 1.1091 support would not confirm a bearish reversal. The pair would need to break the 1.081 support to truly break the bullish structure on the current chart. Resistance: 1.106-1.113 Support: 1.092-1.081 Trading Signals SELL EURUSD 1.112-1.114 SL 1.116 BUY EURUSD 1.092-1.090 SL 1.088
by TVS-Trader
EURUSD will it pushes higher? **Monthly Chart** EURUSD Last month's candle closed bearish after taking the previous month's high (May 2024) then sharply pushed and closed lower. However, this month's candle (Still active - July 2024) opened at the low of the range of the previous month only to push higher after it tested the demand zone around 1.06600 level. This has given a strong momentum for buyers to push the price at least towards breaking 1.1000 round number) supply zone. * *Weekly Chart** On the weekly chart EURUSD looks like it is in a large range between 1.06000 and 1.09150 from March 2024. The price attempted to break the high three times but it failed. This time with a close of a strong bullish candle last week, this suggests a continuation of the trend at least to break the high and test 1.1000 level. However, it is risky to buy at the high. So we will wait for a good retracement or corrective structure to provide us an opportunity to buy for another push to the upside. In this case, we will look at lower time frames for better risk-to-reward and good execution parameters. **Daily Chart** EURUSD remains bullish, however, it is moving through a critical price location near the previous daily swing and liquidity pool. The expectation for this week is for a corrective structure before one more bush to the upside at least to take the liquidity above 1.09160 and then move towards 1.1000.
Long
by PropSignals
2
EURUSD H1 TIME LONG TERM Sell TRADING IDEAHello Traders In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUSD 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 ForexMasters2000
7 Dimension Sell Setup For EURUSDCore Analysis Method Smart Money Concepts 😇 7 Dimension Analysis Time Frame: H4 1: Swing Structure: A completely bearish structure with sweeps and mitigations. The market has taken proper inducement and completed its corrective swing move with multiple pullbacks. Now, after mitigating the external POI, it is once again forming a bearish internal structure from the premier zone. We are ready to go short with a classic smart money entry model. Resistance: Supply zones already give strong rejections. 2: Pattern 🟢 CHART PATTERNS Reversal: V-Shape Recovery formed toward the extreme POI, now ready for another rejection. 🟢 CANDLE PATTERNS Record session count candles are making too much bullish momentum but are unable to break the upper side POI, which seems to be nothing but a trap. Inside: Narrow Range just started forming a range pattern. 3: Volume We experienced massive volume during the last few 4H sessions, but they all failed to break the upper side resistance. It seems to be nothing but profit booking or execution volume here. 4: Momentum RSI 🟢 Since a long time, the market has been in a sideways to downtrend zone without any proper range shift. We also observed a powerful bearish divergence at the last rejected high area. No significant move in terms of momentum, indicating everything is in favor of bears. No need to change your mind. 5: Volatility Bollinger Bands The last volatile move contraction is now about to end with expansion, with a squeeze breakout and walking on the band. It fulfills all the volatile parameters, but at the end, it was not able to break the upside resistance. This indicates nothing but some profit-taking or big player manipulation. 6: Strength ADX In terms of ADX strength, this trend is in the bearish zone yet. 7: Sentiment All parameters and geopolitical indicators tell us loudly that EUR is still bearish. ✔️ Entry Time Frame: H4 ✅ Entry TF Structure: Bearish ☑️ POI Mitigated 💡 Decision: Sell 🚀 Entry: 1.09200 ✋ Stop loss: 1.09500 🎯 Take profit: 1.06367 😊 Risk to reward Ratio: 10RR 🕛 Expected Duration: 10 days SUMMARY: The analysis supports a sell position based on Smart Money Concepts methodology, with the structure, patterns, volume, momentum, volatility, strength, and sentiment indicating a bearish move.
Short
by Optimum369
5
EUR/USD Outlook ICT ConceptsEUR/USD Analysis 💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on EUR/USD, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 💡 Previous Analysis Review: In the previous analysis, we anticipated a retracement lower before a continuation higher. However, the market did not experience a significant retracement and instead expanded higher. 📍Current Market Overview: EUR/USD is currently trading at 1.09562, having recently swept a Buy-Side Liquidity (BSL) level and tapped into a 4-hour Fair Value Gap (FVG). This setup positions the market at a critical juncture, where both bullish and bearish scenarios are possible. 🔍 Identifying Key Levels • PMH (Previous Month High): 1.10200 • PWH (Previous Week High): 1.10200 • PWL (Previous Week Low): 1.08800 • PML (Previous Month Low): 1.06990 • SSL (Sell-Side Liquidity): 1.07750 • 4H FVG: Recently tapped around the current price. 📊 Key Considerations • FVG Behavior: If the 4H FVG holds, it presents an excellent sell opportunity. However, if the FVG fails (i.e., price inverts and breaks above it), higher prices can be expected. • Low Resistance Liquidity Sweeps: Both bullish and bearish scenarios require liquidity sweeps on lower time frames. • For a bearish scenario, a BSL needs to be taken. • For a bullish scenario, an SSL needs to be taken. 📈 Bullish Scenario A bullish scenario might unfold if: • FVG Inversion: The FVG fails to hold, leading to higher price levels. • SSL Sweep: If a lower time frame SSL is taken, it could signal a move higher, potentially targeting the previous highs. 📉 Bearish Scenario A bearish scenario could develop if: • FVG Holds: The price remains below the 4H FVG, confirming its validity as a resistance zone. • BSL Sweep: If a lower time frame BSL is taken, followed by a rejection, a move lower could be expected. 📊 Chart Analysis Summary • Bullish Expectation: FVG failure could lead to higher prices, especially if an SSL is taken. • Bearish Expectation: If the FVG holds and a BSL is swept, a sell opportunity emerges. 📝 Conclusion: The recent sweep of Buy-Side Liquidity (BSL) and the tap into the 4H FVG suggest a critical decision point for EUR/USD. Monitoring the reactions at these levels and the behavior of lower time frame liquidity will provide clearer directional bias. Both bullish and bearish scenarios remain viable, depending on how the market interacts with the current FVG. 🙏 Thank you for joining us! Exploring EUR/USD today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by RealArmin
EURUSD Analysis==>>Signs of a FallEURUSD is moving near the Resistance zone($1.0955-$1.0933) . According to Elliott's wave theory , EURUSD seems to be completing the Double Three Correction(WXY) . Also, the Ascending Broadening Wedge Pattern can be a sign of EURUSD reversal. I expect EURUSD to continue to decline, at least in the Support zone($1.0884-$1.0864) . This week, the US economic calendar will be very busy releasing inflation Indices that will likely influence the Federal Reserve's monetary policy . We must wait for the prices to react when the indices are published. Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
1
EUR/USD Trade Setup 1-Hour TimeframeLast week, we anticipated EUR/USD would reach the major supply zone, but instead, the price formed a new, minor supply zone. This was followed by a doji and a close below candlestick pattern, providing a solid confirmation from the minor supply level. The trade was executed based on this candlestick confirmation at that level. Now, we wait. Remember, once you have full confirmation on a trade, don’t overthink execute the trade and stay patient.
Short
by OfficialUBKFX