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Eurusdtradeidea

EURUSD: The decline and impact of the USDThe EUR/USD pair experienced a rebound during the late American session on Thursday, but was unable to maintain stability above 1.0900. The upcoming June labor market data from the US has the potential to spark significant movement in the pair before the weekend. The US Dollar gained strength against its competitors, causing the EUR/USD to drop below 1.0840 after positive data releases. The monthly ADP report revealed a noteworthy increase of 497,000 in private sector payrolls for June, while the ISM Services PMI improved from 50.3 to 53.9, indicating a surge in growth momentum within the service sector. It is predicted that nonfarm payrolls in the US will rise by 225,000 in June, with the unemployment rate expected to slightly decrease from 3.7% to 3.6%.
Long
by Sphyn-Trader
2
EURUSD: holds lower ground near 1.0900?The EUR/USD bounced back above 1.0900 after weak US data was released during the American session. With US holidays on Monday, the market is expected to stay calm. However, the Greenback is losing its strength and upcoming employment data and the release of the FOMC minutes will be crucial in determining its direction. On Monday, economic data revealed a downward revision in the Eurozone June Manufacturing PMI, with the headline figure dropping from the initial 43.6 to 43.4. The Service sector data will be published on Wednesday. Despite the weak numbers, the European Central Bank (ECB) plans to increase interest rates at the next meeting on July 22, as inflation remains high. Additionally, the likelihood of another hike in September is over 50%.
Long
by Sphyn-Trader
6
Volatile Moves Ahead, Spotlights on Key LevelsIn this market analysis, we delve into the recent price movements of the EUR/USD currency pair. With the euro and the US dollar engaged in a tug-of-war, traders are closely monitoring key levels to identify potential opportunities. Our analysis will provide insights into the current state of the pair and offer a decision signal to guide your trading strategy. Price Action Overview: As of 5th July 2023, at 15:42, EUR/USD has been hovering around the 1.0900 mark, displaying choppiness and uncertainty in midweek trading. The immediate downside support level is observed at the 1.0830 region, which presents a contention zone for the pair. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Sideways/choppy TRADE SIGNAL: Sell Signal 👉 ENTRY PRICE: Below 1.0900 ✅ TAKE PROFIT: 1.0830 ❌ STOP LOSS: Above 1.1012 Based on the analysis provided, a sell signal for EUR/USD is recommended. However, it is crucial to conduct thorough research, stay updated with market developments, and adapt the trade plan accordingly. Remember to manage risk effectively and consider your personal trading strategy and risk appetite.
Short
by RichDadph-FX
Doji candlestick pattern in EUR/USD, back to 1.08?Dear traders, in my yesterday's EURUSD analysis, I recommended selling EURUSD@1.0930 That trade is currently running in profit. If we look at the daily chart, we can see the formation of a long-legged Doji candlestick in the daily chart, which indicates indecision. However, as long as price stays below the 1.0930 level, the bias is tilted to the bearish side. EUR/USD can slide back down to 1.0830 and 1.08 level in the coming days.
by YourLazyTrader
21
20 Reasons for buy EURUSD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: Last year, the market reached the yearly Order Block (OB) area and formed a medium-strength hammer pattern, indicating a potential yearly impulsive move starting from 2023. This suggests a bullish trend in EUR for the coming years. 2:📆Monthly: A monthly choke is present, but we must remember that higher time frames are always respected. The yearly and monthly areas are the same, and a strong demand area can be observed at the last valid low. Every pullback or support within this area can be seen as a buying opportunity. 3:📅Weekly: After forming a valid low, the price has created higher lows (HL) and higher highs (HH), indicating that there is sufficient bullish momentum to continue moving higher. If we draw a trendline here, it will act as support and form a triangle pattern. 4:🕛Daily: The trend is strongly bullish, and we should look for buy entries as long as the price remains above the 1.070 level or holds the daily trendline. If the trendline is broken, we need to strictly consider a buy position. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bullish to sideways 6: 2 Pattern Candle Chart: A big bearish rally was attempted but failed on Friday, indicating a liquidity sweep. 7: 3 Volume: Significant bullish volume supports price movements on every support level, and the heavy volume at Thursday's close suggests profit booking. 8: 4 Momentum UNCONVENTIONAL RSI: There is no weakness in momentum yet, and the price can hold itself above the 40 level. A slight correction may be expected. 9: 5 Volatility measure Bollinger bands: The Bollinger Bands show a double top, and all volatility favors the bulls. The price can also find support at the 20 MA. 10: 6 Strength ADX: In favor of bulls. 11: 7 Sentiment ROC: We are well aware of the ROC. ✔️ Entry Time Frame: Daily 12: Entry TF Structure: Bullish 13: Entry Move: Waiting for resistance trendline breakout. 14: Support Resistance Base: Daily trendline and 20 MA. 15: FIB: Wait for an upside trendline breakout. The trigger event is also activated. ☑️ Final comments: Wait for a breakout above the trendline before entering a buy position. 16: 💡Decision: Buy 17: 🚀Entry: 1.1002 18: ✋Stop Loss: 1.08294 19: 🎯Take Profit: 1.30000 20: 😊Risk to Reward Ratio: 1:10 🕛 Expected Duration: 2 or 3 months
Long
by Optimum369
EURUSD: Unemployment data and impact!The EUR/USD lost points for the second consecutive day on Thursday, dropping below 1.0900 due to the stronger US dollar, which was driven by robust economic data. In the Eurozone, inflation data was mixed, showing a slowdown in Spain and a recovery in Germany, which was not surprising. Thursday's data revealed a slight increase in Germany's inflation in June, with the annual rate rising from 6.1% to 6.4%. Analysts have pointed out that the increase is believed to be due to energy and transportation cost cuts, without which inflation would have decreased. Looking at the details, the slowdown in inflation still seems to persist. On Friday, Eurozone Consumer Price Index data will be released. European Central Bank officials have made it clear that interest rate hikes will occur in July, as inflation remains high.
Long
by Sphyn-Trader
6
EURUSD: Market continues to move in a downtrendEUR/USD declined on Wednesday, quickly reaching below 1.0900 and then rebounding in the US session, cutting losses. The Euro is still supported by expectations of interest rate hikes by the European Central Bank (ECB), reaffirmed by Lagarde's comments. At the same time, bets on interest rate hikes increased in July from the Federal Reserve (Fed), supporting the US Dollar. Inflation data from the Eurozone has started to be released. Italy's harmonized consumer price index slowed down from 8% to 6.7% in June. On Thursday, Spain and Germany will report inflation, and on Friday, the Eurozone's Consumer Price Index (CPI) will be due. The headline EZ is expected to decrease from 6.1% to 5.6%. Another report released on Wednesday showed a decline in the GfK Consumer Confidence survey, with a drop from -24.4 to -25.4. This is the first decline since October.
Long
by Sphyn-Trader
7