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U.S. Dollar / Euro

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USDEUR trade ideas

EUR/USD - Tickling Old HighsParity in the euro can't come without a MAJOR event happening. In the meantime, it would be in the market makers best interests to prop up the euro short term, giving the illusion that due to euro being 'stronger' than it was a few months ago, it's the best time to invest in Europe bla bla bla... Once many of the huge funds, whale traders etc placed their stops below major sellside liquidity pools, that's when the rug gets pulled Pulled all the way down to parity! The question is, what news event will it take for this scenario to pan out?
Long
by LegendSince
More upside potential for EUR/USDFollowing the big weekly gain for the OANDA:EURUSD , it seems like there is still some upside potential for the EUR ahead of the Fed's rates decision next week (at which point all bets are off depending on the outcome, even though no cut seems to be almost certain, but might still be used as a catalyst for bigger moves) As seen on the chart we're currently in middle of nowhere, leaving a big imbalance on today's daily candle and R1 not having been reached yet on the monthly pivot. At 1.0344 we still have a FVG left open that we will close at some point, but the most likely current outcome is the 1.059 resistance for the short term. It's a popular support/resistance for the past few years and if we can get there it would lead the way to a deep retracement to the 1.0344 mentioned earlier, which would then be the golden zone fib as well as closing the FVG. Without getting too much ahead of course, the idea for the upcoming week until the fed decision is to target 1.059. 1.04421 Would be an ideal entry long but with no certainty we'll have that pullback first. That being said, entering long at the current level for daily timeframe trader is highly risky as we're deep into premium prices. I'll be monitoring the current price and update that idea next week. As a reminder for the week end: there is no shame sitting on your hands waiting for the right time to enter the market. Hell it's the complete opposite, trading is a waiting game. And with trump signing executive orders left and right, speaking about everything and anything all day and with fed interest rate decision coming next week, it's as good a time as any to be cautious and maybe skip a few days of trading. You can check my previous idea post on GBP to confirm that, waiting for days to get to the right level led to a massive drop in price as expected, and even if I was wrong, at least my SL would have been close by from my entry and secure a small loss. Luckily it went according to plan. Have a great week end, take the time to rest, journal your wins & losses to learn from them!
Long
by pipichu
Major Multi-Year Low in for EURUSD?EURUSD has moved high enough to consider a major low in place. Wave C of (2) is an ending diagonal which means a swift rally may be looming nearby. Consider the Jan 13 low of 1.0177 as the end of wave (2)/(B) and a wave (3)/(C) rally has begun. This rally has upside targets at: 1.11-1.12 1.18 1.29 A print below 1.0258 is unexpected. Therefore, if EURUSD drops below 1.0258, then we'll need to reassess as that is not expected. Bottom line, this rally should be swift. Don't go crazy with leverage. Let the market do the work for you.
Long
by JWagnerFXTrader
EURUSD low-level upside breakout EUR/USD formed a clear downward channel in the past downward trend, and long-term bears dominated. The current price rebounded from the bottom of the channel and broke through the upper track of the downward channel, indicating that the trend has turned bullish. Below 1.0440 This is the main support position for the current short-term correction, supported by the rising trend line. 1.0350 This is an important low point (1.03451) within the downward channel, currently serving as a strong support area. Above 1.05 The price is testing this level, which is an important psychological barrier and recent high area. If the price breaks through 1.0500, it may further test 1.0550. In the short term, the price has formed a descending wedge breakout pattern, showing the potential for a bullish breakout. After the current breakthrough, there are signs of a retracement of the support line, which may provide bulls with further momentum for an upward move. After the current breakthrough of the downward channel, it indicates that bullish momentum has increased. In the future, we need to pay attention to the price performance in the 1.0500 area. If there is a large-volume breakthrough, the rebound may continue further. Overall, EUR/USD is currently in a state of long-short battle at key points, and tends to be bullish in the short term, but it is still necessary to observe the breakthrough of 1.0500 to confirm the continuation of the rise. It is recommended to combine technical analysis with fundamental factors to formulate a trading plan. Trading strategy The long strategy considers entering the market when the price retraces and stabilizes near 1.0440, with targets looking at 1.0500 and 1.0550, and the stop loss is set below 1.0400 to control risks. Short strategy If the price fails to effectively break through 1.0500 and a pullback signal appears, consider shorting near resistance, with a target of 1.0440 and a stop loss set above 1.0520. Risk warning: EUR/USD is highly sensitive to the Fed's interest rate decision and the ECB's policy, and it is necessary to pay attention to the economic data and policy direction released recently. If the price falls below 1.0440, it may lead to the destruction of the bullish trend, and the possibility of further pullback to 1.0350 increases.
Long
by RonPeter_Trading
Short Order on EUR/USD: Targeting a PullbackHi Traders ! I've placed a sell limit order on the EUR/USD pair at the 1.04784 level, expecting a reversal from this resistance zone within the bullish channel. My stop loss is set at 1.05482 to limit risk in case the price continues to rise, while my take profit is at 1.04087, targeting a pullback towards the bottom of the channel. I trust that the price will respect the market structure and I'm taking advantage of this potential correction to make a profit. Disclaimer: This content is for informational purposes only and should not be considered as financial advice. Trading involves significant risk, and it is important to conduct thorough research and consider your risk tolerance before making any trading decisions. Past performance is not indicative of future results.
Short
by MetalsMine
EURUSD 24-JAN-2024 NY SESSION 4H: Swing & Int Bullish Expecting PB M15: Swing & Int Bullish. Buys: Phase A. Pro Swing+Pro Counter -Not HP -Need to wait for LQ to build below impulsive move -No 4H zone to target -Can follow M15 continuation, If LQ is taken out -Target Swing High M15 -Better take traders after EQ mitigation touch Sells Phase D. Counter Swing + Counter Internal -Agressive -Playing Internal Pullback -Sell after M15 CH -After strong Liquidation Note: For Education purpose only
by ganeshmudhun
EUR/USD: Awaiting a BreakoutCurrently, EUR/USD is consolidating in a sideways range, marked by the blue zone between 1.03935 (support) and 1.04400 (resistance). The pair has been fluctuating within this box, showing clear rejections at both the upper and lower boundaries, reflecting a lack of momentum and decisiveness in the market. Technically, the price is hovering near the EMA 34 and 89. A breakout from this range could lead to a significant move. If the price breaks above 1.04400, it could signal a bullish continuation toward higher levels. Conversely, a break below 1.03935 would indicate further bearish potential. However, the overall bias leans toward the upside, as the price has shown strength above both EMAs. Personally, I’ll continue to prioritize buying opportunities. What about you? Share your thoughts!
Long
by WIN_Vachirawit