Eurusdprediction
EurUsd Breaks structure.. to 1.057 Monthly Level?Hello Traders. EurUsd has been ranging for the last 3 weeks ever since May CPI data. We attempted to break to the upside last monday but this resulted in a failed breakout and better than forecasted US Jobs data pulled USD down with strong momentum. Price retreated all the way to the bottom of the daily range on friday at 1.08 Daily support level. It appears this momentum has sustained itself as price gapped down over the weekend and we observed a further selloff during the first trading session of the week , moving another 25 pips. I do see some buying pressure off 1.07478 moving into London trading and to begin the week. Looking at the June Monthly candle, we are just pulling straight down thus far. Can we extend to the bottom of the Monthly range at 1.057? It seems likely the dollar will remain strong for some time given the strong labor market data and the Higher for Longer Interest rates concept. Safe trading.
EURUSD analysis after positive Nonfarm data📌EUR/USD plummets to weekly lows near 1.0800 following US jobs data. EUR/USD is under heavy pressure and trades at a one-week low near 1.0800. The US dollar continued to gain strength following upbeat jobs data, which showed Nonfarm Payrolls increased by 272,000 in May and put pressure on the pair.
📌Markets are focused on the European Parliament Elections, today. Besides important US economic reports such as CPI, FOMC, PPI and UoM Consumer Preliminary Market Sentiment.
📌After breaking through the trendline and the important support zone at 1.08350, gold approached the stronger support level of 1.079. From there a small trading price margin is formed. The recovery next week of EURUSD is insignificant with the highest level being the Break out price range around 1.08600. The pair's decline is favored with a record hit of the 1.07300 support zone possible.
Resistance: 1,083-1,086
Support: 1,079-1,073
BUY EURUSD zone 1.073-1.072 SL 1.070
SELL EURUSD zone 1.086-1.088 SL 1.090
EURUSD: Bearish Butterfly Pattern Signals ReversalThe EURUSD pair is currently forming a Bearish Butterfly Harmonic Pattern (XABCD), a classic reversal structure frequently observed in technical analysis. The Butterfly Pattern suggests that the current bullish momentum may soon exhaust, giving way to a potential bearish trend.
Potential Reversal Zone (PRZ):
Point D, at the completion of the Butterfly pattern, is identified as a Potential Reversal Zone (PRZ). This zone is critically important for several reasons:
Key Resistance Area: The PRZ aligns with a significant resistance level, historically indicating strong selling pressure.
4-Hour Trend Line: The zone coincides with a downward sloping trend line on the 4-hour chart, reinforcing the bearish outlook.
61.8% Fibonacci Retracement: The PRZ is also at the 61.8% Fibonacci retracement level of the preceding move, adding another layer of confluence to our bearish bias.
Entry and Risk Management:
Given the confluence of technical indicators at the PRZ, we anticipate a trend reversal to bearish from Point D. Our proposed trading strategy is as follows:
Entry Point: 1.08865
Stop Loss: 1.09030
The stop loss is strategically placed above the PRZ to protect against potential false breakouts and limit downside risk.
Take Profit Levels:
To effectively manage our positions and lock in profits, we have set multiple take profit levels:
TP-1: 1.08700
TP-2: 1.08535
TP-3: 1.08370
These targets are derived from previous support levels and the harmonic pattern projections.
Conclusion:
The confluence of the Bearish Butterfly pattern, key resistance, trend line, and Fibonacci level significantly strengthens the bearish case for EURUSD at Point D. By entering the market at 1.08865 with a stop loss at 1.09030, and targeting the specified take profit levels, traders can capitalize on the anticipated bearish reversal while maintaining disciplined risk management.
Today weare going HIGHER EURUSDLast setup was pretty good for EURUSD but i had no triggers. Unfortunately my long limit ordes wasn't triggered for few pips. This time i want to swing and i am entering long targeting 1.09250 and i will DCA if price will go lower. I have some strong motivations for that and i think today's NFP will give us a good pump. ECB has finally started to cut rates, USD is getting weaker while GOLD price Is rising (and china Is buying GOLD and selling USD). I think EURUSD price can reach 1.11/1.12 before December
EURUSD analysis 06/05/2024EUR/USD steadies below 1.0900 ahead of key US dataEUR/USD is consolidating below 1.0900 early Wednesday amid modest gains in the US Dollar. Fed rate cut bets keep US bond yields lower, limiting the pair's downside. Key US data on Wednesday could provide some impetus ahead of the ECB on Thursday.
The pair is approaching the lower trendline of the uptrend and is being supported by the EMA34 and EMA 89. In case the news is positive for the USD, it is possible that EURUSD will break the trendline and two EMA line to approach the 1.08300 support zone.
The old peak at 1.9100 will be the first resistance area that the pair encounters when the price is pushed up from the current support area. With the negative release news for USD the highest level EURUSD reached today was 1.09700.
BUY zone 1.08300 SL 1.08000
SELL zone 1.09100 SL 1.09400
SELL zone 1.09700 SL 1.10000
EURUSD Technical Analysis and Trade IdeaDuring a recent rally, the EURUSD exhibited notable bullish momentum. In our video analysis, we explore potential long positions, contingent upon price aligning with our entry criteria. Examining the 4-hour chart, we observe a previous bearish trend that has been interrupted by a bullish market structure breakout. While my bias leans toward a long position, it remains contingent on price action developments outlined in the video.
Disclaimer: This content does not constitute financial advice.
EURUSD 1H Short Trade - 1:6 RRRPair: EURUSD
Action: Sell
RRR: 1:6
SL: 1.08999
TP: 1.06817
Indicators:
EMA200: The EMA200 serves as a critical indicator of the long-term trend direction.
MACD Trend: The MACD indicator helps traders assess the strength and direction of the trend.
Supertrend: The Supertrend indicator acts as a reliable tool for identifying entry points in alignment with the prevailing trend.
EURUSD: expected to have a downward adjustmentEURUSD: This currency pair in today's session is expected to have a downward adjustment in the context that the ECB will announce that EUR interest rates today are expected to decrease, so it is possible that EURUSD will re-examine the 1.0800 support area first. when the outlook increases again. However, observing on technical factors, the uptrend is still the dominant trend. You can consider waiting to buy with EURUSD today around the support area of 1.0800
EURUSD DAILY PLANHere is another daily plan about EURUSD. I expect a drop in the London session at least the first level i marked (1.085). There itink the price could range preparing the next upide moves. If this level will not hold, i expect a continuation of the drop till the second supporto zone at 1.0825 and i think the price will bounce there, making a bullish setup that should continue tomorrow and Friday
EURUSD accumulates with upside amid negative backdrop for USDEURUSD: The EUR yesterday adjusted slightly, then increased again in the early morning session this morning. On the H4 frame, it can be seen that the uptrend has returned to dominate before, however in today's session it is expected that the market will largely still accumulate with the advantage of increasing points in the context of quite a lot of negative information for the USD and the market. The school is waiting for nonfarm news this weekend. Therefore, you can consider buying EURUSD in today's session. Recommended to buy around 1.0860
EURUSD BUY | Idea Trading AnalysisEURUSD is moving in an UPWARD channel.
We expect a decline in the channel after testing the current level.
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURUSD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
dollar Index to fall towards 101, 100Dollar index has been weak on recent weeks and this move is likely to continue. I expect XETR:DAX to continue falling towards it's previous support and resistance levels at around 102, 101 then 100
If this move happens then it is good news for pairs like FX:EURUSD and FX:GBPUSD as they are all set to drift north. Fundamentally news have been against the dollar recently. On monday 3rd we had US ISM Manufacturing figures which came lower than expected. Today 4thmay24 their is JOLTS Job opening report which is also expected to be lower and this will be a negative driver for $dax.
Always do your own research before pulling and shots .
Use a hard stop loss and good luck. Check my socials and follow for updates
EURUSD - Long from bullish order block !!Hello traders!
‼️ This is my perspective on EURUSD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. My point of interest is if price makes a retracement to fill the imbalance lower and then to reject from bullish order block.
Fundamental news: This week on Thursday we will see results of Interest Rate in Europe and on Friday we have NFP day. News with high impact on EUR and USD, so pay attention to the results in order to validate the analysis.
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DXY Trading Plan for the week 03.06.2024Good morning traders. 🥳
Hope you all had a great weekend and ready for the week ahead.
A quick glance at the charts this morning and the dollar has reset back to the POC levels it entered last week with and on the 12 hr we can see that we are now forming a descending triangle which means that if we break above 105.000 we could see a continuation to the upside targeting key level 106.507 and if we break below 104.408 then we will see a continuation to the downside targeting 102.686.
I'm quite keen on seeing the dollar reach key level 104.209 to which I will be looking for Buy's on EUR/USD, Gold and Silver throughout the week.
We've been in a range across the other assets as well so this week could definately be a breakout week to the upside for all dollar pairs if that's the case.
Hope you have a great day and that your screens are green.
Happy Trading. 📊
EUR/USD Longs 1.08300I'm expecting the price to retrace back down to the 4-hour demand zone. Once it reaches this level, I'll wait for price accumulation to buy back up. If the price breaches this zone due to the Asian low underneath, I'll be more interested in the 6-hour demand zone right below, which looks more probable.
I anticipate the price to rise and take out the pool of liquidity around the Asian high region. Once this liquidity is taken, I expect the price to slow down and enter the 11-hour supply zone, where we can look for potential selling opportunities.
Confluences for EU Buys are as follows:
- The Demand zone has caused a CHOCH to the upside.
- Lots of liquidity to the upside as well as that wick that needs to get filled.
- Price is already been bullish so this is a pro-trend trade.
- In order for price to keep going up it must retrace and enter these key levels to trigger a rally.
P.S. Since the price hasn't broken another level of structure as I expected, the 6-hour extreme looks more appealing to me. We'll see what the price decides to do on Monday.
Have a great trading week and thanks for 1k followers!
EURUSD - in strong downtrendEURUSD - May 31, 2024
Today EURUSD stays in a downtrend, yesterday`s restoration turned into short-lived and the pair remains on course to attain 1.0800 once more withinside the early buying and selling hours of the month. weekend session.
Accordingly, the outlook remains favorable for dealers while EURUSD remains beneath many vital resistance stages and regularly lowering in step with the energetic Trendine line.
In addition, with the growing probability that the ECB will lessen hobby fees earlier than the Fed, the opportunity of the EUR/USD trade price persevering with to weaken wishes to be taken into consideration withinside the medium term.