EURUSD: Bullish Continuation
The analysis of the EURUSD chart clearly shows us that the pair is finally about to go up due to the rising pressure from the buyers.
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EURUSD trade ideas
EUR/USD remains rooted in bearish trendThe EUR/USD's brighter start faded as the session wore on, with the US dollar rebounding across the board. Today’s macro calendar has been quite quiet apart from that bigger than expected rate cut by China’s central bank we saw overnight. In fact, there won’t be much in the way of any important scheduled data release until Thursday’s publication of the PMI numbers from the Eurozone and around the world. This should allow the focus to turn to the US presidential election.
In the eurozone, the only notable data release was German PPI, which came in at -1.4% YoY in September, below forecasts of -0.8%. The data points to weak demand and suggests that consumer inflation could fall further, thus allowing more rate cuts by the ECB. This is clearly another piece of data that is negative for the euro.
Later this week, the focus for euro traders is expected to focus on the global PMI data release scheduled for Thursday, October 24. The eurozone's manufacturing sector, which has been in contraction for two years, is of particular concern, and weak PMI figures could place further pressure on the euro.
Additionally, attention is turning toward the US presidential election, where Donald Trump is gaining ground in the polls. A potential Trump victory could further strengthen the US dollar, particularly due to his hawkish stance on tariffs targeting European and Mexican car imports.
Indeed, the Trump trade is already gaining momentum after the latest opinion polls and odds trackers point to an increasing likelihood of him winning the US presidential election. Trump’s protectionist policies should be bad news for the Eurozone as compared to a Harris win. So, if Trump’s odds of success increases over the next couple of weeks, then, assuming everything else being equal, we could see the EUR/USD weaken as a result.
From a technical perspective, the EUR/USD remains in a bearish trend, with short-term resistance at 1.0870 (200-day moving average) seems to be holding today. Further key resistance levels come in at 1.0900 and 1.0950. On the downside, the August low of 1.0777 is the next bearish target, followed by the 1.0700 handle.
By Fawad Razaqzada, market analyst with FOREX.com
Euro will make move down and then rebound up from wedgeHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price declined to mirror line and then started to grow. In a short time, the price broke the 1.1000 level, made a correction to the resistance area, and then continued to move up to the seller zone. When it reached this area, the price soon turned around and dropped to the mirror line. Euro some time traded near this line and then fell to the 1.1000 level, breaking the mirror line. Also then, the price started to trades inside the wedge, where it first rose between the mirror line to the seller zone again. When the Euro reached this area, it turned around and made a downward impulse, thereby breaking 1.1175 and 1.1000 levels, after which made retest and continued to fall to the support line of the wedge. At the moment, the price trades very close to the resistance line of the wedge, so, for this case, I think that the Euro can little decline and then rebound up, thereby exiting from the wedge. For this case, I set my TP at 1.095 points. Please share this idea with your friends and click Boost 🚀
#EURUSD 1HEUR/USD 1-Hour Chart Analysis:
On the EUR/USD 1-hour chart, the price has reached a key support level, signaling a potential area for a bullish reversal. The market has shown resilience at this level multiple times, indicating strong buying interest from traders.
Forecast:
- **Buy** near the support level, as the price is expected to bounce back from this zone.
- This support level is likely to hold, making it a good entry point for a potential upward movement.
- Watch for bullish price action, such as candlestick patterns or increased buying volume, to confirm the reversal and the continuation of the uptrend.
You can adjust it to match your strategy as needed!
Eurusd full tp active Hi friends how are you ?? I hope all is well I hope made a good profit from my analysis
Now market neutral soo please wait for sell and buy and share your opinion here
Is EUR/USD oversold? Time to Buy?Is EUR/USD oversold? Time to Buy?
EUR/USD has been experiencing a robust downtrend on the 30-minute chart since 30 September. This bearish movement was triggered after the pair encountered a significant resistance area, forming a double top configuration on the daily chart.
From a 30-minute perspective, EUR/USD has remained on the same side of the 200-period moving average for 710 candles, indicating that the pair may be in an oversold condition and that the downtrend could be maturing. Statistically, most directional movements typically accumulate between 300 and 400 candles on one side of the 200-period moving average.
Shift from Seller to Buyer Interest:
Since the inception of the downtrend, this marks the first instance where EUR/USD has made an upward move that corresponds to the preceding downward move. This development signals a potential shift in market sentiment from bearish to bullish and could also be interpreted as a bullish engulfing pattern.
Currently, EUR/USD is situated in the 38.2% Fibonacci retracement level on the 30-minute chart, which may serve as a support zone.
Key Levels to Monitor:
The main areas of interest for today are 1.0830 and 1.0850, which have the potential to support the price action. A buying opportunity could materialise if EUR/USD manages to break above 1.0855. Should this occur, it may lead to an upward movement towards the 1.0945 area later this week.
Conversely, an alternative scenario may unfold if EUR/USD breaks below 1.0820, which could prompt a decline towards the 1.0775 region within the week.
Treading Carefully Amidst Potential Changes
In summary, while EUR/USD is currently entrenched in a downtrend, emerging indicators and patterns suggest the possibility of a trend reversal. Traders should remain vigilant around the critical levels mentioned, as these will be pivotal in determining the pair's next movements.
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.
EUR/USD (READ DESCRIPTION)Pivot Point: 1.0845
The pivot at 1.0845 serves as a critical support level for the EUR/USD pair. If the price holds above this level, it signals the potential for further upside movement. The technical outlook suggests a bullish bias as long as this support remains intact.
Our Preference: Long Positions
Recommended Trade:
Long positions are preferred as long as the price remains above the pivot at 1.0845. This suggests that the pair could rally to test higher resistance levels.
Target Levels for Upside Movement:
First Target: 1.0880
This level acts as an intermediate resistance, where traders may consider taking profit or assess the strength of the bullish momentum.
Second Target: 1.0900
If the first resistance at 1.0880 is surpassed, the next target is 1.0900, representing a continuation of the bullish trend.
Alternative Scenario: Downside Risks
If the price drops below 1.0845:
A break below this pivot would open the door to a downside move.
Bearish Outlook:
First Target: 1.0825
Second Target: 1.0810
These levels represent potential areas of support in a bearish scenario, indicating further downward movement.
Technical Insights:
RSI (Relative Strength Index):
The RSI is mixed but holding above its neutral area, signaling a cautious bullish sentiment. If the RSI continues to rise, it could confirm increasing buying interest.
Support Zone Strength:
The 1.0845 level has provided stability, allowing the price to form a base for potential upward movement, increasing the likelihood of a bullish continuation.
Moving Averages:
If EUR/USD rises above key moving averages, such as the 20-period or 50-period, it would provide further confirmation of the bullish scenario. A crossover in these averages may signal a stronger upward trend.
Momentum Indicators:
Indicators like the MACD remain positive, supporting a continuation of the upward momentum. If a bullish crossover occurs, it will likely further solidify the upward trajectory.
As Long As You Obey The RulesNY Pre Market Setup According to plan as taught in the 28Dto100K Challenge
EURUSD Bearish Bias with Key Resistance at 1.0915EURUSD
The price is currently below the resistance zone near 1.0915, which has acted as a pivot in recent movements. The pair remains in a downtrend, with previous highs indicating a double-top formation.
If the price fails to break above 1.0915, the downtrend is likely to continue, with potential support around 1.0680.
The demand zone is around 1.0680 and the ascending trendline may provide strong support, potentially leading to a rebound.
Direction:
Bearish: As long as the price remains below 1.0915, the direction favors a continuation towards lower support levels.
Bullish: A break above 1.0915 and sustained stability could signal a shift to bullish momentum, but this remains less likely in the current trend.
For now, the bias remains bearish, targeting the demand zone around 1.0680.
Key levels:
Pivot line: 1.0885
Support Lines: 1.0793, 1.0680, 1.0616
Resistance Lines: 1.0995, 1.1082, 1.1141
Trend Outlook:
Bearish while under 1.0915
Bullish By stability above 1.0915
Potential Bull Reversal for longWith EUR interest rate released which has been quite stable the expected US interest rate cut is expected to push Bull to higher level. It could retest 1.12 level once again.
EURUSD Potential LongAs EURUSD stalls at the immediate demand level talked about in the previously shared idea, our expectation was to see bullish price action print, which was delivered with Friday closing very bullish. While this was expected, it does not appear the buy move is ready as there are still some bears lingering in this market.
With this in mind, my anticipation for this week is to see the Fiber trade above last Thursday's high (1.0874) where we have sell-stops sitting in the interim. Clearing this liquidity should be sufficient in seeing price roll deeper into that demand where we expect to see the bulls take charge for a bit, 1.0808 being the price of interest for buying.
Should price print as predicted, we should have a retracement buy move play into our hands.
See y'all mid-week,GLGT!!
LloydFx
EURUSD: Local Correction Ahead! Buy!
Welcome to our daily EURUSD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 1.08668
Wish you good luck in trading to you all!
EURUSD - Short Trade Idea (In-depth analysis)Here is a trade idea on EURUSD in the short direction. Let's see how it goes!
All the analysis is in the vid, but TLDW; Price traded into a 3D iFVG with a bearish bias, looking to take out the low (ERL).
Happy Trading!
- R2F
EURUSD longsmall risk because not sure.
spiked below
now after this candle context should have enough power to thrust upward
maybe not full en route towards full reward so manage risk accordingly
EUR/USD Approaching Key Support LevelEUR/USD Approaching Key Support Level
Last week, the European Central Bank (ECB) cut interest rates as expected, marking the third reduction this year. According to Trading Economics, market participants speculate there could be another rate cut in December. This dovish stance is weakening the euro, as the ECB signals deteriorating economic prospects in the Eurozone.
In contrast, the U.S. dollar remains strong, supported by:
→ Robust economic data, including retail sales figures that exceeded expectations last week.
→ Expectations that Trump may win the next U.S. election, with his proposed trade and tax policies likely to support the dollar.
As a result, EUR/USD continued its decline last week, with the pair falling by about 2.5% since the start of October. Will the downtrend persist?
Today's technical analysis of the EUR/USD daily chart shows that the pair is approaching a key support line (marked in blue), connecting significant lows from 2023-2024 (highlighted by arrows).
Additional support may come from:
→ The psychological level of 1.0800;
→ A previous significant low near 1.0777.
Thus, the EUR/USD area formed by these lines could present challenges to the developing bearish trend.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Can EURUSD continue to fall?EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering.
On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and approached the support level of 1.0800, EUR/USD has reversed again. Currently, the price is hovering around 1.0865 and interacting with the 34 and 89 EMAs, combined with resistance at 1.0960. These factors suggest that the downtrend is still in place. My personal prediction is that EUR/USD is likely to continue falling and may hit a lower low around 1.0700 in the near term.
Now the realization phase is taking shape we are waiting for confirmation with the prospect of strengthening the purpose.
EURUSD: in the oversold territoryThe major event for the EU economy was a further decrease of reference interest rates by ECB members. At their meeting, the ECB decided to cut interest rates by another 25 bps, with possibility of another rate cut till the end of this year, due to drop in inflation, and also, decreasing business activity within the EU. The wholesale prices dropped by -0,3% in Germany in September, leading to an annual drop of -1,6%. The industrial production in the Euro Zone was higher by 1,8% in August for the month, bringing the total increase to 0,1% on a yearly basis. The ZEW Economic Sentiment Index in Germany was standing at 13,1 for October, while the ZEW Economic Conditions were down to -86,9. The Inflation rate in the Euro Zone final for September was 2,7% and in line with a forecast.
The US Retail Sales were up by 0,4% in September for the month. Retail sales excluding autos were higher by 0,5% for the same month. Retail sales increased by 1,7% in September y/y, which was a bit higher from 1,6% forecasted by the market. At the same time, the industrial production in the US was down by -0,6% in September on a yearly basis. Building Permits preliminary for September reached 1.428B, which was down by 2,9% for the month.
Decrease of interest rates by the ECB members, and weakening of inflation in the US, pushed the eurusd currency pair to the lower grounds during the previous week. The currency pair started the previous week around the level of 1,930 and moved to the lowest weekly level at 1,0812. This move represents the continuation of the last three winning weeks for the USD, which moved from levels around 1,12 resistance, down to 1,08 support. Still, Friday's trading session was closed at the level of 1,0871. The RSI clearly entered into the oversold territory, and reverted a bit to the level of 33 as of the end of the week. The moving average of 50 days is further slowing down its divergence from MA200, however, a clear convergence has not yet started. It might take some time in the future, until the cross of two lines occurs.
A clear oversold market side is the first signal that the market exhausted its potential for the downside and that short term reversal might be expected in the coming period. Considering that there is no currently significant macro data scheduled for the week ahead, which could strongly move the market to one side, some stronger moves should not be expected. Current charts are implying the probability for eurusd to revert a bit toward the 1,09 levels, most probably toward the 1,095. There is no current indication for the higher grounds. On the opposite side, there might be just a modest move toward the 1,08 support line, however, charts are pointing to a lower probability of such an occurrence during the week ahead.
Important news to watch during the week ahead are:
EUR: PPI in September for Germany, ECB President Lagarde speech, HCOB Manufacturing PMI Flash for October in Germany and the Euro Zone, Ifo Business Climate for October in Germany,
USD: Home Sales in September, Durable Goods Orders in September, Michigan Consumer Sentiment final in October.
Lingrid | EURUSD shows BEARISH MomentumFX:EURUSD bounced off the resistance level and has been in a bearish trend since the beginning of October, showing three consecutive bearish weeks. It seems probable that the price will pull back toward the resistance zone before continuing its downward trajectory. If the price rolls back against the main trend, it could lead to a classic correction, followed by trend continuation. I expect the market to build a complex pullback toward the resistance area around 1.0900 and the downward trendline, after which we could see a sell-off as the momentum continues to favor the bears. My goal is the support level of around 1.07920
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
EUR/USD Technical Analysis: (READ DESCRIPTION)
Pivot Point: 1.0650
The pivot at 1.0650 serves as a key level of support. This level will play a crucial role in determining the near-term direction of the EUR/USD pair. The current technical setup suggests that the pair could see a significant upward movement if it holds above this pivot.
Our Preference: Long Positions
Recommended Trade:
Long positions are favored as long as the price stays above the pivot point at 1.0650. The expectation is that the pair will move upward, testing higher resistance levels.
Target Levels for Upside Movement:
First Target: 1.1000
This level represents an intermediate resistance where traders might take profit or evaluate the continuation of the bullish momentum.
Second Target: 1.1200
If the first resistance is breached, EUR/USD could extend its gains toward the 1.1200 level, indicating a stronger bullish continuation.
Alternative Scenario: Downside Risks
If the price fails to hold above 1.0650:
Bearish Outlook: A break below the pivot point could lead to a downside move, targeting the following levels:
First Target: 1.0500
Second Target: 1.0450
These levels represent potential areas of support if the bearish scenario unfolds, marking a significant downward trend.
Technical Insights:
RSI (Relative Strength Index):
The RSI has recently landed around the 30% zone, which is often considered oversold. This suggests that selling pressure may be waning, and a reversal to the upside could be in progress. A rising RSI typically confirms growing buying interest.
Support Zone Strength:
The 1.0650 level has acted as a solid support zone in the past, and the price appears to be bouncing off this level, reinforcing the probability of a bullish reversal.
Moving Averages:
Should the pair break above its short-term moving averages, such as the 20-period or 50-period moving averages, it would further confirm the bullish scenario. A crossover of these averages could serve as a signal for an upward trend continuation.
Momentum Indicators:
Momentum indicators like the MACD (Moving Average Convergence Divergence) could signal a bullish crossover soon, which would add to the bullish sentiment. The price also remains above key moving averages, providing additional upward pressure.
EURUSD expected to rebound on an oversold 1D RSI.The EURUSD pair made a straight hit on our 1.08350 Target (September 23 idea, see chart below) following the 1.12000 Double Top rejection:
Right now the price sits below the 1D MA200 (orange trend-line), having failed to recover it in the past 2 days. This is however the 0.618 Fibonacci retracement level from the last Low, which is where the February 14 2024 correction reversed.
At the same time, the 1D RSI turned oversold last Thursday, which is an even bigger bullish indication. For the past 2 years (since September 27 2022), every time the RSI got oversold (below 30.00), it was a very strong buy signal as the price reversed.
On the February 14 Low it reversed to the 0.618 Fib (blue), so currently our minimum target on this buy opportunity is 1.10550.
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eurusd 15 minute buyscalpprobable 15 minute buy scalp . overrall we still need price to drop on HTF 4h in order to have a high probability buy in eurusd
