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EURUSD trade ideas

Dollar Breakout: Key Levels to WatchThe US dollar is on a relentless march higher, racking up its fourth consecutive week of gains. This technical analysis dives into the key levels and upcoming catalysts that could shape the dollar's trajectory in the week ahead. Technical Confirmation of Bullish Momentum The dollar's uptrend is clear, not just from the economic data, but also from the charts. The US Dollar Index (DXY) has broken through key resistance at 104.00, which now acts as a strong support level. If this bullish momentum continues, we could see the DXY reaching 105.00 and potentially even higher. Key Economic Events to Watch This week is packed with important economic news that could affect the dollar. Here's what to keep an eye on: ● US Labor Market Data: We'll get updates on the US job market with the JOLTs job openings, ADP employment change, and the crucial nonfarm payrolls report. Strong numbers will likely boost the dollar. ● US Inflation (Core PCE): The Fed's preferred inflation measure is coming out. If it shows that inflation is still a problem, the Fed might keep interest rates higher for longer, which is good for the dollar. The dollar's bullish momentum has helped the DXY break above the 104.00 resistance, which now acts as a key support level. If this momentum persists, the DXY could soon target the 105.00 mark. ● European Central Bank (ECB): The ECB will release its Economic Bulletin, providing insights into the Eurozone economy. We'll also see key Eurozone data like GDP growth rate and flash inflation figures. These will be crucial in assessing the health of the Eurozone economy and the potential path of future ECB policy. ● Bank of Japan (BOJ) Meeting: The BOJ's meeting will give us clues about the future of interest rates in Japan, which could indirectly affect the dollar. ● Australian Inflation (CPI): Australia will release its inflation numbers. If inflation is cooling down, the Australian dollar might weaken. What Does This Mean for Traders? The dollar's strength is a major force in the forex market. By keeping an eye on these economic events and understanding the technical picture, traders can identify potential opportunities. Key Levels for Major Pairs: ● EUR/USD: EUR/USD has reached the critical 1.0800 support level. With the dollar's strength and potential for weak Eurozone data, a break below 1.0800 could trigger a sharp move towards 1.0700. However, if Eurozone inflation surprises to the upside, we might see a bounce back towards 1.0900. ● USD/JPY: The Japanese yen is weakening. With the recent break above 150.00 in USD/JPY, the next target for the pair could be 155.00 if the BOJ maintains its current stance. ● AUD/USD: AUD/USD is trading near 0.6600. A hotter-than-expected CPI print could spark a bounce from this level. However, if inflation cools as the RBA anticipates, a break below 0.6600 is likely, with 0.6500 as the next major support. Engage with me! Share your thoughts on the dollar's outlook in the comments below. Follow my profile for more fundamental and technical analysis updates. This is a market analysis, not trading advice. Past performance is not indicative of future results. Trade responsibly and do your own research.
by E8Markets
EURUSD confirmed the bottom. Low risk buy now.The EURUSD pair has turned sideways since it hit last week the bottom of the 1-year Channel Up and even though it hasn't broken above the 1D MA200 (orange trend-line) yet, the 1D RSI has given us the strongest buy signal possible. That is breaking above its MA (yellow trend-line) after rebounding on oversold soil (below 30.00) last Wednesday. This is exactly what happened on the April 16 2024 Low. Even if that is a mid-correction rebound like the February 14 one, as both decline sequences have been of -4.00%, it suggests that we can target at least the 0.618 Fibonacci retracement level until the price resumes the bearish trend. As a result, we consider this a low risk buy, targeting 1.10000 (below the 0.618 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
Euro H4 | Potential bearish reversalThe Euro (EUR/USD) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.0838 which is a swing-high resistance. Stop loss is at 1.0880 which is a level that sits above the 23.6% Fibonacci retracement level and a swing-high resistance. Take profit is at 1.0760 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
EURUSD: Should I Buy?Hello everyone! Overall, EUR/USD is slightly down for the second day in a row, trading around 1.0780 on Monday morning. Looking at the daily chart, you can see that the pair is testing the upper boundary to return to the descending channel pattern. This could reinforce the bearish bias for the pair. However, there are signs of a potential bottom forming at 1.0760. Furthermore, using the Fibonacci retracement of the first wave, if the rally continues, the next recovery points for EURUSD would be 0.382 (price level 1.085) - 0.618 (price level 1.093) - 0.5 (price level 1.098).
Long
by Bentradegold
EURUSD DeclineOn Friday, EURUSD closed below 1,0800, signaling a lack of bullish momentum and indicating a continuation of the bearish trend on the H1 timeframe. Important news related to the USD is expected this week, which will have an impact on the market. On Friday, NFP will be released, likely causing increased volatility. At the current levels, we continue to explore other instruments with better potential. In the premium channel, we've been actively analyzing EURJPY over the past few weeks.
by ForexTrendline
EURUSD InsightHello to all our subscribers! Please share your personal opinions in the comments, and don’t forget to like and subscribe. Key Points - Trump’s election victory prospects, USD, and U.S. Treasury yields are on the rise. - Deutsche Bank notes that the market is only partially factoring in a Trump victory, suggesting that if the “Trump trade” accelerates, dollar strength could pick up momentum. - Japan’s ruling Liberal Democratic Party suffered a significant defeat in the Lower House elections on the 27th. - Continued likelihood of additional rate cuts by the ECB. Key Economic Indicators - October 30: Germany’s Q3 GDP, U.S. Q3 GDP - October 31: Bank of Japan rate decision, Eurozone October CPI, U.S. September PCE price index - November 1: U.S. October unemployment rate, nonfarm payrolls EUR/USD Trend Analysis The euro’s price has currently reached the lower end of a short-term uptrend. Efforts to hold this level are visible, and if a rebound occurs, a rise toward the trend high of 1.14000 can be expected. However, if it breaks below this level and falls under the 1.07500 line, a trend reversal would be confirmed, potentially leading to further declines to the 1.04500 level.
Long
by shawntime_academy
Bullish bounce for the Fiber?The price is falling towards the support level which is an overlap support and could bounce from this level to our take profit. Entry: 1.0774 Why we like it: There is an overlap support level. Stop loss: 1.0719 Why we like it: There is a pullback support level. Take profit: 1.0837 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD 27/10/24EUR/USD has shown a continuous downward movement this week, which aligns with the institutional trend we discussed last week. Although there was a brief push above the recent high, there is a chance for the price to move slightly higher before resuming its path. We’ve highlighted key areas of interest. One is a supply zone where we expect the price to react, potentially targeting liquidity to the left. Additionally, there is a potential reaction point at the previous high, along with a liquidity target below. Our short-term bias is bullish, but we maintain a long-term bearish outlook, as we have for the past month. Keep an eye on fundamentals, and avoid buying in this market since the overall trend is still downward. Remember to follow the "Keep It Simple" approach, and only take trades with a clear entry signal. Trade safe and always stick to your plan.
by rosshayes