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EURUSD trade ideas

EUR/USD FACING SELLING PRESSURE. $DXY MULTIPLE PIVOTS POINTSGood morning everyone. Going to try to keep this short and sweet. DXY, as of about 0830EST, broke through all hourly Camarilla resistance levels. The last being 104.560. The next targets would be at 104.795, 104.833, 104.871, and 104.987. EUR/USD has broken through first 1HR/4HR support level at 1.0782. Next two levels would be 1.0772, and 1.0762. After these levels are broken. I'll look to trade to 1.07. Going into this selloff, we were in a bearish symmetrical triangle. Though I do not rely heavily on indicators, MACD, RSI (both reg. and sto.) are aligning with this downward momentum. Stop loss around previous around 1.0830 which the hour 200-EMA is peaking under. The DXY upward pressure is also supported by the election anticipation of Donald J. Trump winning. Rising 10-year yield is also support the greenback. BOJ is not looking to hike rates this week. Listened to a few earnings calls. Everyone is beating earnings so far. VIX is up. Feels like risk-on but keep in mind that the market made a major move up prior to any reports. Folks getting greedy and anxious going into election and big data week. Let's see if JOLTS today, IJC on Thursaday, and NFP on Friday still show a strong labor market. If so, definitely can forget about a 50 bps cut. 94.8% priced in for a 25 bps cut and 5.2% with no cut. Of course, like Socrates, I'm objective and humble to accept that it's possible for none of this to happen. If we get a break back about 1.0805, a level got from my brother @ThePipAssassin I'm tracking resistance levels at 1.0825, 1.0851, 1.0877, and 1.0919. If we get anywhere near these, believe I'll be looking for 1.10 because I did identify a FVG to the downtrend in DXY. Of couse none of this is to be taken as trading or financial advice. I am simple giving you my own analysis. Trade at your own risk and I encourage everyone to do your own research and check my thoughts. Please give feedback. Going to start doing this a lot more. Follow, like, and share por favor. God is love!
Short
by Arkad2021
EUR/USD Struggles at Resistance: Key Levels to WatchEUR/USD Price Report – October 29, 2024 Current Price: 1.07994 USD Daily High: 1.08394 USD Daily Low: 1.07612 USD Volume: Moderate activity at 119 Price Movements EUR/USD is currently trading near 1.07994 USD, reflecting a slight decline after reaching a recent high of 1.08394 USD earlier in the day. The pair shows signs of volatility, fluctuating between support and resistance levels as seen in the recent price action. Key Levels Resistance: 1.08194 - 1.08394 USD: This zone represents the most recent high and acts as a strong resistance level. The price has struggled to maintain gains above this area, as shown by the red markers, indicating multiple failed attempts to breach higher. Support: 1.07700 - 1.07612 USD: The price previously touched these levels, forming a base of support on the downside. A further drop may test this area, which served as a low earlier today. 1.07400 - 1.07300 USD: A secondary support zone from recent sessions, especially on October 24 and October 27. This area will likely act as a floor if the pair continues to decline. Trend Analysis October 24 Pullback: The EUR/USD experienced a significant drop around October 24, falling to the 1.07300 USD level, indicating a period of weakness. Since then, the price has been in recovery mode, rising towards the 1.08000 range but encountering resistance. Current Movement: As of today, the price remains under pressure, encountering resistance near 1.08100 – 1.08300 USD. The chart shows indecisiveness, with a tendency to test lower levels if it cannot break the resistance line. Outlook Bullish Bias: If the price can successfully break above 1.08394 USD, it could lead to a bullish continuation toward higher levels. The next significant resistance would be around 1.08500 USD, where further gains could be achieved. Bearish Bias: If the pair fails to break above the current resistance, we might see a pullback, with a retest of the 1.07700 USD or even 1.07300 USD levels. A sustained break below 1.07300 USD could lead to a deeper bearish correction. Conclusion EUR/USD is at a critical point, testing resistance in the 1.08100 – 1.08300 USD range. A successful breakout could signal bullish momentum, while failure to breach resistance may cause the price to retest support levels around 1.07700 USD or lower. Traders should monitor the price action closely for signs of a breakout or a retracement. Disclaimer: This report is based on current market data and should be used for informational purposes. Always perform additional analysis or seek expert advice before making trading decisions.
Short
by Joekenstein7
EURUSD- LongThe EUR/USD pair shows signs of potential recovery after a notable decline. The pair appears to be consolidating and may be gearing up for an upward movement. However, any movement below the identified buy zone could lead to further declines, putting pressure on bullish momentum. For traders looking at intraday or scalping opportunities, entry confirmation remains crucial, with order flow analysis recommended to confirm potential buying conditions. Disclaimer , This is not a financial advice or any sort of that, this is purely for informational purposes only and is not intended to be personal financial advice. Trading involves substantial risk of loss and is not suitable for every one.
Long
by Bilind-GeniusScalper
EURUSD at an important support.EUR/USD is currently positioned at a significant support area on the daily chart, marked by both an uptrend line and horizontal support. Here are some important notes about the pair right now: Long-Term Ascending Channel: The black lines forming an ascending channel on the chart indicate that EUR/USD has been in an uptrend since October 2023. This channel acts as a dynamic range for support and resistance, with the price generally adhering to these lines over time. Horizontal Support on D1: The lower black line of the channel highlights a Double Bottom pattern, suggesting that sellers have struggled to push the price lower. Additionally, this horizontal support aligns with the ascending trend line on the daily chart, which the price recently tested. Given the confluence of these lines (the uptrend and horizontal support), this level is crucial and could influence EUR/USD's direction in the coming days. Resistance and Support Zones: The horizontal green areas represent key resistance and support zones. The main resistance level is near 1.0950, which previously functioned as support but was recently breached during a downward move. The support zone is located at 1.0667, serving as the next target if the price breaks below the current channel support. Recent Candlestick Patterns: On October 24, a bullish engulfing pattern formed, indicating renewed buyer interest after the price touched the support region on the daily chart. This pattern occurs when a bearish candle is fully engulfed by a subsequent bullish candle, suggesting potential buying momentum. Considering these factors, an upward movement may occur if the price holds at the support level, potentially leading to a recovery towards 1.0950. Conversely, a downward movement could ensue if the price breaks through the channel support and trendline, possibly reaching the support area around 1.0670. Attention to NonFarm Payrolls on Friday: Traders interested in the EUR/USD this week should be cautious about the release of the NonFarm Payrolls (NFP) data, which will occur on Friday, November 1st. The NFP is one of the most important economic indicators in the financial market, as it measures the change in the number of jobs in the non-agricultural sector in the US. This data is a reflection of the health of the US economy and directly influences expectations about the Federal Reserve's (Fed) monetary policy. When the NFP is released, it provides insight into the level of economic activity and the strength of the US labor market. If the jobs data beats expectations, it could signal a strong economy, prompting the Fed to consider tightening monetary policy, such as raising interest rates. Higher interest rates tend to boost the dollar, as they attract more investment in higher-yielding US assets. Consequently, a strong NFP could put downward pressure on the EUR/USD, strengthening the dollar against the euro. On the other hand, a below-expected NFP could suggest an economic slowdown, prompting the Fed to adopt a more cautious stance, such as keeping interest rates steady or even cutting them. In this scenario, the dollar could weaken, which would favor a rise in the EUR/USD. Disclaimer: 74% 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. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
by Marketscom
EURUSD Trade Log### Trade Setup (29/10/2024) - EURUSD 1. Long in 30-Minute FVG: - Target: 1:2 RRR. - Risk: 1% of account. - Stop-Loss: Below the 30-minute FVG. - Entry Strategy: Wait for a pullback into the FVG with bullish confirmation before entering. - Beware of Earnings: Potential volatility due to correlated US market earnings reports; monitor timing to avoid adverse moves. Strategy: - Multi-timeframe approach using 30-minute FVG for intraday setup. - Confirm entry signals to avoid unexpected volatility from earnings-related movements. - Manage risk independently, reassessing based on the outcome of other trades if applicable.
by Fondera-Trading
Buy opportunityThe EURUSD pair presents an enticing Buy opportunity at the current price of 1.08124, with favorable potential for profit. Targets: Primary Target: 1.08900 Secondary Target: 1.09942 Breakout Scenario: 1.07603 In the event of a breach above the Support level of 1.07603, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.06000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed Buy strategy, suggesting upward pressure on the EURUSD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM