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Eurusdtradeidea

EUR/USD Meets Solid Support Around 1.1000 on LagardeThe EUR/USD currency pair experienced a corrective decline and revisited the key level of 1.1000. However, it encountered solid support and bounced back afterwards. The Chairwoman of the European Central Bank (ECB), Christine Lagarde, stated in a press conference that inflation pressures remain strong and wage pressure is increasing. Many Board members suggested a 50 bps rate raise due to significant upside risks to inflation. The EUR/USD is currently facing increased volatility as investors shift their focus to Lagarde’s press conference. After the ECB raised rates by 25 bps to 3.75%, the market remained inconclusive. The ECB stressed that underlying inflation remains strong and future decisions will aim to make rates sufficiently restrictive. TRADE IDEA DETAILS CURRENCY PAIR: #EURUSD CURRENT TREND: Corrective decline TRADE SIGNAL: ↘️Sell 👉ENTRY PRICE: 1.0995 ✅TAKE PROFIT: 1.0909 ❌STOP LOSS: 1.1055 With Chair Lagarde's comments about the need for more tightening and the uncertainty of the transmission of past rate raises, we believe that EUR/USD is likely to continue its corrective decline. Therefore, we recommend selling EUR/USD at 1.0995 with a stop loss at 1.1055 and a take profit target at 1.0909.
by RichDadph-FX
EUR/USD Breaks Trendline Resistance Ahead of Fed/ECB PolicyEUR/USD has broken the downward trendline resistance, indicating a bullish trend. The short-term trend is bullish, and upside momentum has been activated. The major currency pair will capture more gains after a decisive move above the intraday high of 1.1030, which will drive it towards the round-level resistance at 1.1100. If the latter is breached, it will expose the pair to a fresh 13-month high. On the other hand, a downside move below 1.0915 will drag the asset lower. TRADE IDEA DETAILS: CURRENCY PAIR: #EURUSD CURRENT TREND: ↗️Bullish TRADE SIGNAL: ↗️Buy 👉ENTRY PRICE: 1.1045 ✅TAKE PROFIT: 1.1095 ❌STOP LOSS: 1.1015 #EURUSD #ForexMarket #FederalReserve #ECB #InterestRateHike
Long
by RichDadph-FX
EURUSD: Buyer's next direction!Fundamental Overview The Euro currency is being strengthened by the anticipation of future interest rate hikes by the European Central Bank. Despite a drop in inflation, the ECB's Philip Lane stated that keeping interest rates at their current level would not be appropriate. As a result, the market's response to the recent release of German consumer inflation figures is expected to be subdued, but a higher CPI could slightly improve the EUR/USD pair. Expect EURUSD to continue to rise in the near future! Plan trade in the intro ♥
Long
by Sphyn-Trader
2
Bearish on EU Currency, But Cautiously Watching for ReversalThe EU currency has recently completed the B leg of an ABC pattern, suggesting a potential reversal to the downside. While there is a bearish bias in play, traders should be cautious and wait for reversal patterns to emerge before taking action. If no reversal patterns develop, it may be wise to stay out of the market and let the price continue its current trend, as there is still potential for a higher high forming. Traders should carefully monitor the price action and use proper risk management to protect their positions.
Short
by Dion-FX
2
EUR - Where to next?EUR - Where to next? $ OANDA:EURUSD FX:EURUSD On the docket today is US Unemployment Claims - Which should shift the markets to either direction and at end of the week PMIs EUR: Currently within range Highs: 1.09992 Lows: 1.09095 A break of the highs I expect EUR to re-test the previous highs of 1.10555. However, if we are to break this trendline up and the range lows we are in, then I expect us to test the next support of 1.08510. Have a great day ahead, Trade Journal
by Trade_Journal
EURUSD: Correction of the uptrend!US Dollar's position as the primary global reserve currency is being challenged Over the past two decades, the proportion of the US Dollar in the global market has declined from 71 percent to 59 percent. There is a possibility that this share may decrease even further in the future. This situation adversely affects the United States since currency usage in global trade is a zero-sum game. Whenever a Yuan, real, or Rupee is traded on the global market, a Dollar is not. If other trustworthy alternatives become popular, it may compromise America's dominance in the global market.
Long
by Sphyn-Trader
EUR/USD Bullish Outlook still strong?The EUR/USD chart has recently displayed bullish tendencies, but how long can this upward trend continue? Our previous weekly technical analysis anticipated a reaction at the support level of 1.09098. As expected, the price reached this demand zone on April 17th, indicating significant buying pressure. While the daily timeframe seems bullish, the pair hit a critical resistance level at 1.10422. Price is currently trading above the 20-day EMA, but the MACD histogram shows weakening momentum, suggesting the support level of 1.09098 might fail soon. The 4-hour EUR/USD chart displays sideways movement within the 1.09098 and 1.10422 range. The 1-hour chart reveals a failed support level at 1.10090, now acting as resistance. A rejection at this level could lead to a break below the uptrend line, testing the main support at 1.09098, with potential for a bearish move. Several factors could influence the EUR/USD price next week, including the crucial support level of 1.0930, the S&P Global Composite PMI in the US, the ongoing natural gas shortage in the Eurozone, and geopolitical events such as trade disputes. Keep an eye on upcoming high-impact news events to stay informed and trade responsibly. Please hit the boost to support and follow me! for more updates.
by ClintOnos