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U.S. DOLLAR / EURO REFERENCE RATE

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EURO LONG TERM SHORT PERSPECTIVE Hello Traders, I will keep this simple and share my point of view for tomorrow. As you can see on the higher time frame, we have a daily rejection from 1.06 and a tap into the weekly FVG with the NFP report. Tomorrow is a big day with the CPI report incoming, which will tell us the direction we're heading in. I expect the CPI to be bullish for TVC:DXY and bearish for FX:EURUSD The important thing is that you shouldn’t go short right now; instead, wait for PRICE + TIME. With the news coming out at 8:30 AM NY time, I like to wait for a bullish market structure from London to NY on the lower time frames. As usual, we will likely see consolidation before the news. After that, I will mark the buy-side liquidity and set my targets to take profits. The market will likely sweep liquidity before moving in one direction. Don’t trade the consolidation. I'm not good with publishing idea's, I am just yapping about my point of view. Alhamdullilah I am making consistent $$$ with trading.
Short
by HuangCapital
EURUSD: Standard Channel Up targeting above the 4H MA200.EURUSD may have turned bearish today on its 1D technical outlook (RSI = 41.238, MACD = -0.005, ADX = 33.591) but 4H remains neutral as the pullback is the technical bearish wave of the Channel Up you see on the chart. The two bullish waves we've had so far have been exactly the same at +1.65% with the 4H RSI S1 Zone providing the most accurate buy entries. Consequently, this is now the best level to go long and target a crossing over the 4H MA200 on another +1.65% bullish wave (TP = 1.06675). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURUSD / M15 / SHORTEURUSD May Fall from the Bearish Order Block Bearish Order Block: 1.05683 and 1.05632 EURUSD is currently following a downtrend, and a potential bearish order block has been identified between 1.05683 and 1.05632 on the M15 timeframe. If the price retraces to this order block, it presents an opportunity for a short position. With strong bearish momentum in place, there is a high probability that the price will respect this zone and continue downward, aligning with the overall market structure. I've outlined two take profit targets for this trade setup, offering clear risk management and reward opportunities. Let’s monitor how the price reacts to the order block and unfolds further. EURUSD / M15 / SHORT LOT :- 0.2 Entry Price :- 1.05630 Take Profit :- 1.05222 Stop Loss :- 1.05752
Short
by PraveenTrader1
Euro can rebound up to 1.0700 level, exiting from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago started to decline inside the downward pennant, where it at once rebounded from the resistance line and fell to the 1.0700 level, which coincided with the seller zone. Then EUR tried to grow, but failed and in a short time declined below the 1.0700 level, breaking it. Next, the price continued to decline and later almost reached the support level, after which turned around and some time traded a little higher at this level, but didn't fall to it. Later, the rice dropped below the 1.0485 level, which coincided with the buyer zone, breaking it and reaching the support line of the downward pennant, after which started to grow and made a gap. After this movement, the Euro broke the 1.0485 support level one more time and made a retest. Next, it little grew, after which made a correction to the support level and then rose to the resistance line of the pennant. But a not long time ago, the price fell to the support line and now it trying to grow. For this case, I think that the price can correct to the support line and then rebound up to 1.0700 resistance level, thereby exiting from the pennant pattern. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
Trading Idea: EUR/USD Potential Reversal.Trading Idea: EUR/USD Potential Reversal Technical Analysis: RSI (Relative Strength Index): The RSI is currently approaching oversold levels, suggesting a potential for a reversal. When the RSI dips below 30, it often indicates that the asset is oversold, and a reversal to the upside could be imminent. MACD (Moving Average Convergence Divergence): The MACD line has crossed below the signal line, which typically signals a bearish trend. However, this crossover is happening at lower levels, indicating that the bearish momentum might be losing strength, setting the stage for a potential bullish reversal. Support and Resistance Levels: Key support is identified at 1.0331, a significant level that has previously acted as a strong buying zone. On the flip side, resistance is seen at 1.0629. The pair is currently trading around 1.0550, a critical level to watch for potential breakout or breakdown scenarios. Fundamental Analysis: ECB Rate Decision: The European Central Bank is expected to cut its Deposit Facility Rate by 25 basis points to 3% on Thursday. This decision is part of the ECB's ongoing efforts to stimulate the economy and achieve its inflation target. A rate cut is generally bearish for the currency, but the impact on the EUR/USD pair will depend on market expectations and how much of this cut is already priced in. US Inflation Data: Investors are closely watching the US Consumer Price Index (CPI) data for November. The headline CPI is expected to rise to 2.7% from 2.6% in October, while the core CPI, excluding volatile food and energy prices, is expected to grow steadily by 3.3%. Higher-than-expected inflation could strengthen the USD, as it might prompt the Federal Reserve to continue its tightening cycle. Political Uncertainty: Political turmoil in key Eurozone countries like France and Germany, coupled with the re-election of former US President Donald Trump, is contributing to market volatility. Political instability often leads to risk aversion, which can impact the EUR/USD pair. Trading Plan: Entry: Consider entering a long position if EUR/USD breaks above the 1.0600 resistance level with strong bullish momentum. A confirmed breakout above this level, supported by increasing volume, could signal a potential reversal. Stop-Loss: To manage risk, set a stop-loss below the 1.0500 support level. This ensures that losses are minimized if the market moves against the trade. Take Profit Targets: Aim for initial profit targets at 1.0700 and 1.0830. These levels have historically acted as significant resistance, making them ideal points to take profit. Conclusion: The EUR/USD pair is showing signs of a potential reversal, supported by both technical and fundamental factors. Traders should keep a close eye on key levels and upcoming economic data releases to make informed decisions. As always, proper risk management is crucial when entering any trade..
Long
by OakleyJM
EURUSD H1 10/12/2024 - SELL below 1.0520Multi-Timeframe Analysis D1 (Daily Timeframe) Trend Analysis: Price is in a consolidation phase, hovering just below the Ichimoku Cloud, reflecting bearish dominance. The 200 SMA is positioned far above current price levels, confirming a longer-term downtrend. The Stochastic Oscillator is moving out of the overbought zone, suggesting potential bearish continuation. Key Levels: Resistance: 1.0580–1.0600. Support: 1.0520, 1.0490. H4 (4-Hour Timeframe) Trend Analysis: Price has broken below the Ichimoku Cloud and the 50 SMA, signaling bearish pressure. The RSI (44.3) and Stochastic (13.1) are both oversold, suggesting a short-term pullback might occur. Key Levels: Resistance: 1.0550–1.0580 (previous support turned resistance). Support: 1.0520, 1.0490. H1 (Hourly Timeframe) Trend Analysis: Bearish momentum is dominant, with price making lower highs and lower lows. The RSI (33.3) is oversold, but there’s no divergence yet. The MACD histogram is slightly bearish, indicating weakening downside momentum. Key Levels: Resistance: 1.0550. Support: 1.0520, 1.0490. M30 (30-Minute Timeframe) Trend Analysis: Price is consolidating near the 1.0520 support level with signs of potential exhaustion in the bearish move. Stochastic and RSI are in oversold territory, indicating a potential bounce. Key Levels: Resistance: 1.0540, 1.0550. Support: 1.0520, 1.0490. Correlated Instruments Analysis US Dollar Index (DXY): The DXY is in an uptrend, putting additional pressure on EUR/USD. If DXY continues higher, it will suppress EUR/USD rallies. EUR/GBP: EUR/GBP is neutral to slightly bearish, confirming overall Euro weakness. US 10-Year Treasury Yield: Rising Treasury yields support a stronger USD, further increasing bearish bias on EUR/USD. Trade scenario: Bearish Continuation After Pullback (Preferred) Rationale: The breach of 1.0540 opens room for further downside toward 1.0520 and 1.0495. A short-term pullback toward resistance (1.0540–1.0550) provides an optimal entry for selling. Trade Details: Entry Price: 1.0535–1.0540 (wait for a pullback to resistance). Stop-Loss: 1.0560 (above recent highs). Take-Profit Levels: TP1: 1.0515 (near current support). TP2: 1.0495 (next key support level). Risk/Reward Ratio: ~1:2. Scenario B: Aggressive Breakout Trade Rationale: If price breaks decisively below 1.0520, the bearish momentum may accelerate further, targeting 1.0490–1.0480. Trade Details: Entry Price: 1.0515 (on a clean break below support). Stop-Loss: 1.0535 (above broken support). Take-Profit Levels: TP1: 1.0495. TP2: 1.0480. Risk/Reward Ratio: ~1:2.
Short
by napoleon182