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Eurusd-3

EURUSD rebounds from key EMAs as bearish channel, US NFP eyedEURUSD remains mildly bid around 1.0830 early Thursday as it defends the previous day’s recovery from the 200-day and 100-day Exponential Moving Averages (EMAs) after the US Federal Reserve’s (Fed) dovish halt of the benchmark rates. It’s worth noting, however, that bearish MACD signals and a week-long descending trend channel challenge the Euro pair buyers ahead of the top-tier activity and employment clues from the US, scheduled for publishing later today and on Friday. That said, the steady RSI (14) line hints at a continuation of the latest rebound. As a result, the bulls should wait for a clear upside break of the stated channel’s top line, close to 1.0855 at the latest, and the US ISM PMIs and Nonfarm Payrolls (NFP) data for conviction. Following that, the quote’s gradual run-up toward the 1.0900 threshold can’t be ruled out. However, an upward-sloping resistance line from early April, near 1.0950 by the press time, followed by the 1.1000 threshold, will be tough nuts to crack for the buyers to crack. On the flip side, an area comprising the 100 and 200 EMAs surrounding 1.0810-800 restricts the short-term downside of the EURUSD pair. If the Euro bears manage to smash the stated EMAs on a daily closing basis, the falling channel’s bottom line will act as the final defense of the sellers around 1.0785. It’s worth noting that the 61.8% and 78.6% Fibonacci ratios of the pair’s April-July rise, respectively near 1.0730 and 1.0670, could act as intermediate halts during the pair’s weakness past 1.0785 and on the way to the yearly low marked in April around 1.0600. Overall, EURUSD is likely to remain firmer but the room towards the north appears limited. Also challenging the pair buyers is the cautious mood ahead of the US ISM PMI and employment figures for July.
by MTradingGlobal
EURUSD bears keep reins with eyes on US GDP, ECB’s LagardeEURUSD licks its wounds at the lowest level in a fortnight as sellers jostle with a 200-bar Exponential Moving Average (EMA) support ahead of the US Q2 GDP and a speech from European Central Bank (ECB) President Christine Lagarde. In doing so, the Euro pair justifies the early-week breakdown of a month-old rising support line, now immediate resistance near 1.0900. However, downbeat RSI conditions and a looming bull cross on the MACD hint at the quote’s corrective bounce off the stated EMA support of 1.0825. In a case where the Euro prices remain weak past 1.0825, the 1.0800 threshold and 61.8% Fibonacci ratio of April-July upside, near 1.0735, followed by the 78.6% Fibonacci retracement level of 1.0675, will be important to watch for the bears ahead of targeting the yearly low marked in April surrounding 1.0600. Alternatively, downbeat US statistics could join the hawkish comments from ECB’s Lagarde to underpin the EURUSD pair’s rebound from the key EMA support of 1.0825. The same line highlights the support-turned-resistance line stretched from late June, near the 1.0900 threshold at the latest. It’s worth noting, however, that the Euro buyer’s ability to keep the reins past 1.0900 depends on a clear upside break of an upward-sloping resistance line stretched from early April, around 1.0950 as we write. Following that, the bulls can easily challenge the 1.1000 psychological magnet. Overall, EURUSD prices are likely to remain weak unless crossing 1.0950. However, the downside room appears limited and may lack momentum due to the scheduled data/events.
by MTradingGlobal
Impending Golden Cross keeps EURUSD bulls hopeful ahead of ECBEURUSD retreats from the highest level in four months as traders await monetary policy announcements from the European Central Bank (ECB) early Thursday. In doing so, the Euro pair justifies the overbought RSI conditions. However, a successful break of a descending resistance line stretched from early January, now immediate support near 1.0890, joins the bullish MACD signals to keep the buyers hopeful. Even if the quote drops beneath 1.0890 resistance-turned-support, a convergence of the 50-SMA and 200-SMA, close to 1.0810-05, will be a tough nut to crack for the bears. It’s worth mentioning that the 50-SMA is approaching the 200-SMA from below and portrays a bullish moving average crossover called “Golden Cross”, which in turn suggests further upside of the major currency pair. Meanwhile, EURUSD bulls can aim for the 1.0980-1.1010 resistance zone during a fresh upside. Following that, 1.1040 and the 1.1100 threshold may act as intermediate halts while directing buyers toward the late 2023 peak of 1.1140. In a case where the Euro pair remains firmer past 1.1140, the odds of witnessing a run-up toward the previous yearly high of 1.1275 and then to the year 2022 top surrounding 1.1495 can’t be ruled out. Overall, EURUSD remains in the upward trajectory despite the pre-ECB pullback. However, the upside room appears limited unless the quote offers a daily closing beyond 1.1010. It should be observed that the ECB is likely to keep the monetary policy unchanged but bears are waiting for the signals of further rate cuts in 2024.
by MTradingGlobal
Low-Risk Opportunity in EUR/USD Near Key Supply ZoneMarket Overview: In the 1-hour timeframe, the FX:EURUSD pair has shown a Break of Structure (BOS) to the upside, indicating a potential bullish momentum. The price is currently approaching a significant H4 supply zone, which could act as a strong resistance area. Supply and Demand Analysis: H4 Zone (Supply): This zone represents a potential area where sellers might step in, leading to a price reversal. H1 Zone (Demand): This lower zone can act as a strong support area if the price retraces, offering a potential entry for buyers. Recommended Strategy: Given the current market structure, the least risky direction appears to be shorting from the H4 supply zone, as the price is more likely to encounter resistance here. Entry, Stop-Loss, and Take-Profit: Entry: Monitor the H4 supply zone for bearish confirmation before entering a short position. Stop-Loss (SL): Place above the H4 supply zone to protect against a false breakout. Take-Profit (TP): Target the H1 demand zone for a favorable risk-to-reward ratio. Recommendation: This setup suggests a good opportunity to short EUR/USD as it approaches the H4 supply zone. Traders should look for bearish price action signals in the supply zone to confirm the entry. Proper risk management is crucial, and adjusting the stop-loss to break even once the trade is in profit is advised. Happy trading!
Short
by JohnnyTranFx
2
M15 Structure has confirmed a downward trend, waiting to sell!Overall, we can see that the price has touched the H4 supply zone, with multiple reactions at this level. The M15 timeframe has just confirmed a potential price decrease. Our action is to wait for a selling opportunity at the M15 supply zone as shown in the image. Analysis based on supply and demand method: 1. Higher timeframe context: The chart shows a clear H4 supply zone at the top, which has been respected multiple times. This suggests strong selling pressure at higher levels. 2. Lower timeframe confirmation: The M15 timeframe has formed its own supply zone, aligning with the higher timeframe structure. This multi-timeframe confluence increases the probability of a successful trade. 3. Recent price action: The price has shown rejection from the H4 supply zone and has started to form bearish structures on the M15 timeframe. This indicates that sellers are gaining control. 4. Entry strategy: The plan to wait for a retest of the M15 supply zone before entering a short position is a prudent approach. It allows for a better risk-to-reward ratio and confirms the bearish momentum. 5. Potential targets: The chart shows multiple demand zones below the current price, which could act as potential profit-taking areas. These are marked as 1R, 2R, and 3R, offering increasingly favorable risk-to-reward ratios. 6. Risk management: A stop loss is placed above the M15 supply zone, which aligns with proper risk management principles in supply and demand trading. This analysis suggests a high-probability selling opportunity based on the alignment of supply zones across multiple timeframes and recent price action confirmation.
Short
by JohnnyTranFx
1
EURUSD bulls stay hopeful ahead of Fed Chair Powell’s TestimonyEURUSD remains well-set on the buyer’s radar, despite snapping a four-day uptrend, as markets await Federal Reserve (Fed) Chairman Jerome Powell’s bi-annual Testimony. That said, the upbeat RSI (14) line and the bullish MACD signals join the quote’s successful trading beyond a convergence of 100-SMA and 200-SMA to keep the buyers hopeful. However, a month-old horizontal resistance zone surrounding 1.0840-50 guards the Euro pair’s immediate upside. Following that, descending trend lines from early March and January, respectively near 1.0875 and 1.0895, quickly followed by the 1.0900 threshold, will precede the previous monthly top of 1.0916 to challenge the pair’s further advances. In a case where the pair remains firmer past 1.0916, the odds of witnessing a run-up toward the 1.1000 psychological magnet can’t be ruled out. Alternatively, the aforementioned key SMAs will join the 50% Fibonacci ratio of the EURUSD pair’s October-December 2023 upside to highlight 1.0800-1.0790 as the key support to watch during the quote’s fresh fall. Should the bears manage to conquer the stated support, the odds of witnessing a quick fall toward 1.0750 and the 61.8% Fibonacci retracement level of 1.0710 can’t be ruled out. However, an upward-sloping support line from late 2023, close to 1.0680 by the press time, appears a tough nut to crack for the Euro bears afterward. To sum up, the EURUSD remains in the upward trajectory despite the week-start pullback. Hence, Fed Chair Powell’s attempt to revive the US Dollar's strength, by providing hawkish clues and/or ruling out economic woes, needs to be taken with a pinch of salt.
by MTradingGlobal
Euro Declines Amid French Election UncertaintyThe euro experienced a slight decline of approximately -0.07% today as market participants anticipate a potential legislative deadlock following the French parliamentary elections. The euro is currently trading below the 34-day moving average (MA), indicating a short-term downtrend, and is also trading below the 89-day MA, suggesting that the long-term downtrend is being reinforced. The euro may continue to face pressure if the political situation in France shows no signs of improvement. I personally believe that uncertainty will persist at least until the election results are clearly determined. Do you have any other predictions?
Short
by Henry_pro
1
EURUSD SHORTFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
EURUSD bulls jostle with 200-SMA hurdle on US HolidayEURUSD struggles to keep the buyers on board early Thursday, after rising for four consecutive days, as market momentum dwindles during the US holiday. That said, the Euro pair jumped to a three-week high while rising the most in a week after the US statistics drowned Greenback the previous day. However, the cautious mood ahead of Friday’s key US employment report might have challenged the bulls of late, especially amid dicey markets. That said, the RSI’s pullback from the overbought region and receding bullish bias of the MACD joins the 200-SMA to limit the quote’s further upside past 1.0790-85. Even if the quote crosses the 1.0790 hurdle, the 1.0800 threshold and the 61.8% Fibonacci ratio of March-April fall, close to 1.0840, will prod the additional advances. Above all, a four-month-old descending resistance line, close to 1.0895, quickly followed by the 1.0900 round figure, will act as the final defense of the bears. Meanwhile, the EURUSD pair’s retreat appears elusive beyond the week-start peak of around 1.0776. Following that, the 100-SMA support of 1.0730 will be crucial to watch for the Euro bears. It’s worth noting, however, that an ascending support line from mid-April, close to 1.0680 by the press time, appears a tough nut to crack for the sellers, a break of which will make the pair vulnerable to slump toward the yearly low of 1.0600 marked in April. Overall, the EURUSD pair is likely to remain on the bull’s radar during a less active day. However, the quote’s upside room appears limited and hence highlights Friday’s key data/events.
by MTradingGlobal
EURUSD TRADE SETUPFOREXCOM:EURUSD FX:EURUSD OANDA:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
1
XAUUSD SHORTFOREXCOM:XAUUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
FOREXCOM:XAUUSDShort
by Phinics
1
EURUSD approaches multi-month-old support ahead of Fed inflationEURUSD struggles to defend the first weekly gain in four as sellers appear more inclined to revisit an upward-sloping support line from early October 2023. That said, the Euro pair’s failure to keep Thursday’s rebound from the stated support line joins the bearish MACD signals to keep sellers hopeful ahead of the US Federal Reserve’s (Fed) preferred inflation gauge, namely the Core PCE Price Index. However, a daily closing beneath the aforementioned key technical support surrounding 1.0665 becomes necessary for the bears to tighten their grip. Following that, the quote becomes vulnerable to slump toward the yearly low marked in April around 1.0600. In a case where the downbeat RSI conditions and the stated 1.0600 support fail to stop the sellers, the prices could well aim for the year 2023 to bottom close to 1.0450. Meanwhile, EURUSD recovery remains elusive unless it stays beneath a convergence of the 200 and 100 SMAs, close to 1.0790 by the press time. That said, the 1.0750 and the 1.0800 thresholds are extra upside filters to watch during the quote’s fresh rise in case of the downside US data. It’s worth noting that the Euro pair’s successful run-up beyond 1.0800 will enable buyers to aim for the 50% Fibonacci retracement of late 2023 fall, around 1.0865, but a descending trend line from early January 2024, close to 1.0900, will challenge the upside afterward. Even if the quote manages to remain firmer past 1.0900, an 11-month-long falling resistance line near 1.0990 and the 1.1000 psychological magnet will be tough nuts to crack for the bulls. Overall, EURUSD bears keep the reins ahead of the key US data but the quote’s further downside hinges on the strong US inflation clues and a clear break of the 1.0665 support.
by MTradingGlobal
EURUSD strategy: Should Buy or Sell !On Wednesday, EUR/USD experienced an uptick as the U.S. markets took a mid-week holiday break. As we move into the second half of the trading week, investors are looking ahead to the Friday PMI data for meaningful insights that could steer market sentiment. Despite the recent recovery, uncertainty lingers. The pair is still facing significant resistance and a downward trendline. Keep an eye on these levels – if EUR/USD breaks through the resistance, a buying opportunity could emerge. Conversely, if the resistance holds, selling might be the better strategy. Stay tuned and watch those key levels closely!
by HamedMarkets