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EUR (Euro)

EUR/USD to Tackle Fed Fear and Eye $1.08 on Easing Bank CrisisIt is a relatively busy day ahead for the EUR/USD. ZEW Economic Sentiment figures for Germany and the Eurozone will draw interest today. Following the collapse of Silicon Valley Bank and Signature Bank (SBNY), economic sentiment figures are likely to weaken. Economists forecast the German Economic Sentiment Index to fall from 28.1 to 17.1 in March, with the Eurozone Economic Sentiment Index to slide from 29.7 to 16.0. This morning, the EUR/USD was down 0.03% to $1.07144. A mixed start to the day saw the EUR/USD rise to an early high of $1.07260 before falling to a low of $1.07096. The EUR/USD needs to avoid the $1.0693 pivot to target the First Major Resistance Level (R1) at $1.0755. A move through the Monday high of $1.07308 would signal a bullish session. However, the EUR/USD would need hawkish ECB chatter and better-than-expected ZEW Economic Sentiment numbers to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0793 and resistance at $1.08. The Third Major Resistance Level (R3) sits at $1.0892. A fall through the pivot would bring the First Major Support Level (S1) at $1.0655 into play. However, barring a risk-off-fueled sell-off, the EUR/USD pair should avoid sub-$1.06 and the Second Major Support Level (S2) at $1.0593. The Third Major Support Level (S3) sits at $1.0494. Looking at the EMAs and the 4-hourly chart, the EMAs send bullish signals. The EUR/USD sits above the 50-day EMA ($1.06562). The 50-day EMA pulled away from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA, delivering bullish signals. A hold above the 50-day EMA ($1.06562) would support a breakout from R1 ($1.0755) to give the bulls a run at R2 ($1.0793) and $1.08. However, a fall through the 50-day EMA ($1.06562) would bring S1 ($1.0655) and the 200-day ($1.06533) and 100-day ($1.06517) EMAs into play. A fall through the 50-day EMA would send a bearish signal.
Long
by skarantraderq
EURUSD MAY GO DOWNThe euro lost almost 0.7% on Thursday as better-than-expected U.S. economic data pushed the U.S. dollar higher. Possible effects for traders The U.S. dollar strengthened after the unemployment claims report pointed out a strong U.S. jobs market. Other data showed growing labor costs, indicating the Fed has to raise interest rates further to tame inflation. 'This move higher that you're seeing in U.S. rates is not happening in isolation. Similar developments are happening in the rest of the world, in particular in Europe, mostly notably, where the inflation data keeps on surprising relatively strong,' said Alvise Marino, the macro trading strategist at Credit Suisse. In other words, even if the Fed's policy remains hawkish, the European Central Bank will not fall behind and will continue raising the base rate. Thus, the fundamental picture for EURUSD remains rather mixed. Today's speeches from three Fed officials after 4:00 p.m. UTC may offer some clues. The key levels for the pair to watch are 1.07000 and 1.05300.
Short
by skarantraderq
EURUSD Forecast 01/03/2023The EUR/USD needs to move through the $1.0597 pivot to target the First Major Resistance Level (R1) at $1.0621 and the Tuesday high of $1.06453. A return to $1.06 would signal a bullish session. However, the EUR/USD would need the stats and the ECB chatter to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0670 and resistance at $1.07. The Third Major Resistance Level (R3) sits at $1.0743. Failure to move through the pivot would leave the First Major Support Level (S1) at $1.0548 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.05. The Second Major Support Level (S2) at $1.0524 should limit the downside. The Third Major Support Level (S3) sits at $1.0451. Looking at the EMAs and the 4-hourly chart, the EMAs send a bearish signal. The EUR/USD sits below the 50-day EMA ($1.06213). The 50-day EMA slipped back from the 200-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals. A move through R1 ($1.0621) and the 50-day EMA ($1.06213) would give the bulls a run at the 100-day EMA ($1.06665) and R2 ($1.0670). A move through the 50-day EMA would send a bullish signal. However, failure to move through the 50-day EMA ($1.06213) would leave the Major Support Levels in play.
Long
by skarantraderq
Effect Of GFK Consumer Sentiment Index On EURUSDEURUSD dropped by almost 0.06% as inflation fears increased due to Fed's latest statements. Possible effects for traders Today, Germany will release the second assessment of Q4 GDP and the GFK Consumer Sentiment Index. Another important event is the U.S. PCE report for January. Overall, the Fed seems ready to continue further rate hikes, supporting the U.S. dollar. The EURUSD fell due to high demand for the U.S. dollar and returned to the levels of the year's beginning. The pair remained below 1.06000 within the Asian session, opening a potential for a downside correction to 1.05200. Still, today's economic reports may push EURUSD towards 1.07000.
Long
by skarantraderq
EURUSD Price Forecast 9th Feb 2023The instrument was almost rangebound yesterday and dint gave any solid trading opportunity The max solid signal it gave was for 15 to 30 pips with a tight SL. The following are some of the important levels which needs to be taken care of before opening any order for the day :- 8th Feb DH - 1.07607 DL- 1.06877 9TH Feb. PIVOT - 1.0727 R1 - 1.0744 , S1 - 1.0693 R2 - 1.0778, S2 - 1.0675 R3 - 1.0829, S3 - 1.0624 * If Pivot is broken on the upside then we can expect a target to 1.0744 and 1.07607 * A return to 1.0750 will send a bullish behavior * If Pivot is broken in the downtrend then it will hit the 1.06930 level. On the other hand 1.0650 level should be avoided . * If it reaches 1.0675 level then it means the sell off is limited.
Long
by skarantraderq
EURAUD LONG IDEATHE HAWKISH ECB Look for occasional retest and confirmation, trade is simple Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analyzing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
Long
by CELGIB_TRADING
EURUSD Observation: - In the chart, we can see recent low is broken. so, it is the change of character on 1HR chart. Probability: - We can think that there's probability of the price is going to meet its 4-hour POI. so, we can enter in the short position after touching poi of 1hr in 5 min chart with change of character with the target of 1.05640 and we can set target for partial profit booking to its recent low (which is made after the Choch in 1 hr chart). Need help: - suggest a good broker to trade forex in India. Thanks!!!
Short
by ViiraPatel
5
DXY – TRADES | MTF ANALYSE | KW48In today's post I present relevant marks of the DXY for the next week, which could support the one or the other, in their own analysis. = the technical analysis approaches, are shown in individual images in the post. So that an individual interpretation of the respective - standing alone - is possible. = the title picture shows an example, of a possible trade. This is one of many possible setups because the current course isn`t able to take a clear direction. PERSONAL ASSESSMENT If you look at the price in the higher time frames, you can quickly see that "without" another correction, we have been in free fall. Thus, an intermediate correction in the smaller time frames is long overdue and could possibly await us next week, with a rising USD / DXY. This just announces itself with a MACD divergence, in the small-time units. This does not mean that the price must immediately react to it, however, over the next few days after a possible small sell-off, the whole thing can run in the opposite direction. Why this is so, I explain to you in the following. MARKET MAKERS MOVE THE PRICE . The DXY has been in correction for 2-months and many market participants assume a further USD value decline. And exactly there is the existing problem, -> "many market participants" are on the USD short side. If you look a little bit into the TRADING of the HEDGE funds and banks, you will quickly come to the conclusion that without their participation, the market will not move. 1. from the moment the price moves permanently in one direction, it is no longer interesting for large investors. 2. their opportunities to make money are very small, which is why they have to reverse the market direction or initiate a consolidation. This in turn is due to the following reasons: - The position sizes of these investors are too large to be executed in a normal market environment. - For this reason, you can e.g. only build LONG positions if enough investors sell to you = go SHORT. - Thus, when the market falls, they can build a LONG position piece by piece, without having a "visible" influence on the market. Then, when you decide that their position size has been successfully filled, let the price go in the opposite direction. - During the e.g. upward movement, profits are then taken piece by piece where liquidity is highest so that the market does not break away again after these profit-takings. So that you are prepared for both scenarios (LONG / SHORT), I have carried out the analysis combined with the different time units (monthly, weekly, daily and INTRA-Day) and in the following with chart images. The following methods are used and shown below: - MULTI TIME FRAME ANALYSIS - TREND LINES + TREND CHANNELS - SUPPLY&DEMAND ZONES - FIBONACCI LEVEL - MACD MONTHLY TIME FRAME WEEKLY WINDOW DAY WINDOW INNER DAY TIME WINDOW 4h + LONG 4h + SHORT 1h 4h Divergence - MACD - Intraday > Feel free to discuss this in the comments and share our perspectives, I would be "burning" to hear your take on the whole thing. If this idea and explanation has added value to you, I would be very happy to receive a review of it. Thank you and happy trading!
TVC:DXYLong
by ZielIstDieAutarkie