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EUR/USD Market Dynamics: Comprehensive Analysis for Sept. 2023The EUR/USD market analysis reveals a complex landscape in September. Concerns over the Euro's weakness are raised by prominent institutions, while key support levels hold. The contrast between the US and the Eurozone's economic situations and concerns over inflation drive market sentiment. Scotiabank's analysis indicates potential gains above 1.10, but the market faces near-term uncertainties. Traders are eyeing upcoming economic data to shape their strategies. ANALYSIS: Fundamental Analysis: The Eurozone's economy is showing signs of weakening, and there's potential speculation about a rate cut. The uncertainty surrounding ECB policy contrasts with a relatively more robust economic outlook in the US. Technical Analysis: EUR/USD is currently trading near resistance at 1.0990. The 55-day and 100-day SMAs at 1.0930 and 1.0924 provide interim support, with significant support at 1.0912. Resistance at 1.1040/45 acts as a crucial barrier. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Range-bound with a downside bias TRADE SIGNAL: SELL (Based on the Eurozone's economic weakness and technical resistance levels) 👉ENTRY PRICE: 1.0990 (Current resistance level and near-term high) ✅TAKE PROFIT: 1.0912 (August low, representing a key support level) ❌STOP LOSS: 1.1040/45 (Potential bullish trigger, marking a critical resistance area) The collective analyses paint a mixed picture for EUR/USD, with underlying economic fundamentals and technical indicators guiding market sentiment. As September approaches, traders and market strategists will closely monitor key economic data and central bank positions, balancing optimism with caution in the face of potential challenges for the Euro. Attention to these factors will likely be instrumental in shaping trading strategies and investment decisions for the EUR/USD currency pair in the coming month.
Short
by RichDadph-FX
EURUSD Analysis 7Aug2023At the end of the week, the trendline is holding steady and there are limits to the potential returns. However, we can observe that the bearish trendline has been positively responded to three times, which is often a signal that the bearish trend is still dominant. Additionally, there is a liquidity area (highlighted in yellow) below SND that typically receives a positive response from the price in the future. It is likely that the price will fall further than the liquidity area.
by Hokusai_FX
EURUSD: 01/08/2023: Strong buy and sell zones! Well, as you can see the price move down, and now this is in the demand zone that may push the price up for collecting the liquidity above equal high. (Scenario 2) The best zone for buying is Dayli Demand Zone that you can see on the chart, we can expect the price to move down, and after collecting the liquidity under the previous low, enter to demand zone, then we can search for a trigger. 💡Wait for the update! 🗓️01/08/2023 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
1
DeGRAM | EURUSD major support levelEURUSD is pulling back to the demand level, where price made a momentum move. Price is near the confluence level: global dynamic support and the 50% fibo level on the 4 hourly chart. The market is bullish on the daily chart; therefore, we anticipate a bullish move from the confluence level because price is pulling back against the major trend. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
4
Staying Vigilant: EUR/USD Potential Momentum ShiftsExpert analysts from Commerzbank, Scotiabank, and ING share insights on the EUR/USD pair. As the market anticipates an ECB rate hike, caution is advised. The Euro's trajectory might pause, making it crucial to stay vigilant. Scotiabank suggests a potential bearish trend, while ING warns of room for correction in the overvalued EUR/USD. Economic concerns in the Eurozone add to market uncertainty, emphasizing the need for informed trading decisions. The EUR/USD pair has been experiencing a bearish trend in recent days, as indicated by multiple technical indicators and fundamental analysis. Price action has shown a break below the key support level at 1.1200, suggesting a potential continuation of the downtrend. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell Signal 👉ENTRY PRICE: Approximately 1.1200 ✅TAKE PROFIT: Around 1.1125 ❌STOP LOSS: Above 1.1250
Short
by RichDadph-FX
DeGRAM | EURUSD long idea from confluence levelEURUSD rebounded from the support level. Price potentialy can create a AB=CD pattern where D point completes right at the 1.13000 level. The market is trading in the ascending channel, and it's still consolidating. Price created fibonacci 61.8% level and a support level at the border of the channel. We expect a double bottom formation or false break at support to confirm that bears have run out of steam. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
3