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Eurusd-4

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
EURUSD: Still discounted!Hello traders! 👋 As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers. Key Observations: Current Level: EURUSD is trading near 1.071, struggling to find upward momentum. Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement. EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts. Trading Outlook: With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions. Stay vigilant and consider these factors in your trading strategy. Happy tradi
by HamedMarkets
1
EURUSD fades bounce off key support line as full markets returnEURUSD lacks clear directions early Thursday after rising in the last three consecutive days. In doing so, the Euro pair fades Friday’s rebound from an upward-sloping support line stretched from October as sentiment dwindles amid the return of full markets after the previous day’s Juneteenth holiday in the US. Apart from the struggle to defend the recovery, bearish MACD signals and a downbeat RSI line also challenge the buyers. Apart from that, a fortnight-old descending resistance line surrounding 1.0765 and a convergence of the 100-day and 200-day Exponential Moving Average (EMA), near the 1.0800 threshold, stand tall to restrict the quote’s upside moves. In a case where the major currency pair remains firmer past 1.0800, the odds of witnessing a quick run-up toward the monthly high of 1.0916 can’t be ruled out. Alternatively, EURUSD sellers aim for the 61.8% Fibonacci retracement of the October-December 2023 run-up, close to 1.0710, as an immediate target ahead of revisiting the aforementioned multi-month-old support trend line surrounding 1.0670. It’s worth noting that the monthly low of around 1.0665 acts as an additional downside filter for the Euro before directing it to the yearly low of 1.0600 marked in April. Additionally, the 78.6% Fibonacci ratio of 1.0595 acts as the final defense of the buyers ahead of allowing the bears to challenge the late 2023 bottom of near 1.0450. Overall, EURUSD remains on the bear’s radar unless crossing 1.0800. However, downside room for the pair appears limited.
by MTradingGlobal
EURUSD Short Selling strategy?Hello everyone! What is your opinion? In today's analysis, I will focus on the bearish price movement of this currency pair. Currently, EURUSD is trading around 1.073, continuing the downward correction wave, with support From a technical standpoint, factors such as trend lines, support and resistance levels, and EMAs 34 and 89 all favor sellers. This fits well with the Elliott Wave structure. It looks like EURUSD is ending Wave 1 and I predict that the next waves will play out as analyzed, potentially breaking below the 1.061 support level. What do you think about EURUSD? Please leave a comment below so we can discuss! Good luck with your trading!
Short
by HamedMarkets
EURUSD: Prioritize the downtrend!Hello fellow EURUSD trading lovers! Today, we see EURUSD continuing its downtrend, with the price currently hovering around 1,080. -Market summary: Yesterday's developments: After this news, EURUSD quickly skyrocketed and filled the gap but could not maintain a long-term increase. Technical outlook: Price Pattern: The pair is trading in a narrowing wedge pattern, characterized by lower highs and lower lows. Short-term forecast: With these technical signals, EURUSD will likely continue to decline in the near future. I'm more inclined towards sales. What is your view? Do you see more opportunities on the downside or do you have a different view? Share your thoughts!
Short
by HamedMarkets
EURUSD trading strategy! The selling trend is still strong!Hey everyone, What are your thoughts on EURUSD today? Looking at the 4-hour chart, EURUSD is currently in a recovery phase. The pair is filling the GAP and completing a retracement to the 0.5 - 0.618 Fibonacci levels. As of now, the price is sitting at 1.0759, reflecting a 0.05% increase for the day. It's expected that after completing this retracement, the price might resume its downward trend, just as illustrated on the chart! What’s your take on this? Let’s discuss your insights in the comments below!
Long
by HamedMarkets
Should we buy or sell EUR/USD today?Dear friends! Currently, EUR/USD is flat, staying just below the 1.0750 level during Wednesday's Asian session. With upcoming US CPI data and Federal Reserve policy announcements, it is best to avoid placing new bets on this currency pair until we see how these events play out. They are likely to significantly influence the performance of the US Dollar. If the downtrend continues, EUR/USD could first target the June low of 1.0719 and could then fall deeper to 1.0649.
Short
by HamedMarkets
4
EURUSD traders should focus on 1.0790, US inflation and FedEURUSD licks its wounds at the lowest level in six weeks as the pair traders await the US Consumer Price Index (CPI) for May and the Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed). Also important are the final readings of Germany’s inflation data for May and speeches from a slew of European Central Bank (ECB) officials. In doing so, the Euro pair keeps the week-start fall beneath the 200-day Simple Moving Average (SMA) and a one-month-old ascending support line, a part of the short-term bullish triangle. Not only the downside break of the key SMA and rejection of the bullish chart pattern but the bearish MACD signals and an absence of the oversold RSI (14) also keep the pair sellers hopeful. The same highlights February’s low of around 1.0695 as immediate support to watch during the quote’s fresh downside. Following that, an upward-sloping trend line from October 2023 near 1.0650 will act as the final defense of the buyers. In a case where the pair remains bearish past 1.0650, it becomes vulnerable to refresh the yearly low, currently around the 1.0600 threshold. On the contrary, softer US inflation and the Fed’s inability to convince the policy hawks despite avoiding the looming rate cut can trigger the EURUSD pair’s recovery. In that case, a convergence of the 200-SMA and support-turned-resistance line around 1.0790 will be in the spotlight. Should the Euro buyers manage to provide a daily closing beyond the 1.0790 hurdle, as well as cross the 1.0800 round figure, the 50% Fibonacci ratio of its July-October 2023 decline, around 1.0865, and then to a five-month-old descending resistance line, near 1.0915, can’t be ruled out. It should be observed, however, that the buyers will face heavy resistance past 1.0915 as the aforementioned triangle’s top line of 1.0920 will precede the 61.8% Fibonacci ratio near 1.0960 and an 11-month-old falling trend line surrounding 1.1010 to restrict the further upside. Overall, EURUSD remains on the bear’s radar beneath 1.1010 while 1.0790 acts as an immediate key upside hurdle.
by MTradingGlobal
EURUSD - SHORTI opted to enter for short on this pair. Stop-loss orders have their place, and I trusted my eyes more than my heart. Short Bias for the upcoming week. - --------------- **First Scenario - Short:** First Target: $1.0825 First Target: $1.0805 Entry: $1.0851 Stoploss: $1.0854 **Second Scenario - Long:** Initial Target: $1.089 Entry: $1.0854 Stoploss: $1.0844 - --------------- Take into consideration: Psychological Resistance at $1.086 Psychological Support at $1.08 - --------------- NFA DYOR - --------------- Good Luck! ⚠️ Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.
Short
by irfanp056
EURUSD Prediction Bullish breakout 7 Jun 24EURUSD is one of the most traded Forex instruments with good volume activity. If we look at the chart: EURUSD has broken to the upside and can now give really good targets to 1.12 levels. EURUSD has broken the symmetrical triangle pattern to the upside. Also, it has received support from 200 EMA, which is a good sign of bullishness. One can trade EURUSD with Risk: Reward::1:3 with the given setup. All important levels are on the chart. Verdict : Bullish Plan of Action: Buy: 1.09197 SL: 1.08146 Target: 1.11033, 12371
Long
by finnova_
EURUSD bulls need validation from 1.0920 and ECBEURUSD prints the first daily gains in three while approaching the top line of a two-month-old rising wedge bearish chart formation. Apart from the 1.0920 upside hurdle comprising the stated resistance line, the European Central Bank’s (ECB) widely expected rate cut also poses a challenge to the major currency pair’s further upside. Additionally, the sluggish MACD signals and unimpressive RSI line also raise bars for the buyers. Hence, the quote is likely to witness a pullback toward the weekly support line of around 1.0860 unless the ECB surprises the market, either with no rate cut or by providing hints of no more actions in the near term. In a case where the bears dominate past 1.0860, the 200-bar Exponential Moving Average (EMA) support of near 1.0815 could gain the spotlight. It’s worth mentioning that the Euro sellers will gain conviction if the pair confirms the rising wedge pattern by falling beneath the 1.0765 support, which in turn opens the door for a theoretical fall toward 1.0450. Meanwhile, the ECB’s ability to convince the buyers, despite announcing the 0.25% cut to its benchmark rates, could help the EURUSD pair to cross the 1.0920 resistance. In that case, the quote’s run-up toward March’s peak surrounding 1.0980 and then to the 1.1000 threshold can’t be ruled out. However, the yearly high of near 1.1040 and the late 2023 top around 1.1140 will challenge the Euro pair’s upside past 1.1000. To sum up, EURUSD braces for a post-ECB pullback while rising towards a short-term key resistance ahead of the event. However, the ECB’s hawkish halt might convince the buyers to return, which in turn requires traders to remain cautious before the outcome.
by MTradingGlobal
EURUSD fades bounce off 200-SMA as EU/US inflation clues loomEURUSD marked the biggest daily gain in a week the previous day while bouncing off the 200-SMA as the Eurozone data came in overall positive while the US statistics mostly disappointed. Also allowing the Euro pair to rebound from the key SMA level is the consolidation ahead of today’s first readings of the EU inflation data and the US Core Personal Consumption Expenditure (PCE) Price Index, also known as the Federal Reserve’s (Fed) favorite inflation gauge. That said, the quote’s inability to defend the previous day’s rebound joins the bearish MACD signals and unimpressive RSI conditions to lure the bears. However, a daily closing beneath the 200-SMA support of 1.0787 becomes necessary for the seller’s return. It’s worth noting that a five-month-old resistance-turned-support line near 1.0790 and an upward-sloping trend line stretched from mid-April, close to 1.0750, act as additional downside filters. Should the pair sellers keep control past 1.0750, February’s low of 1.0694 and the yearly bottom marked in April around 1.0600 will be in the spotlight. Alternatively, the EURUSD pair’s recovery remains elusive beneath a downward-sloping resistance line from early January, close to 1.0885 at the latest. That said, the 1.0900 threshold also stands tall to test the Euro bulls before directing them toward March’s peak of near 1.0980 and the 1.1000 psychological magnet. Furthermore, the quote’s successful trading beyond the 1.1000 mark allows the bulls to challenge the late 2023 top surrounding 1.1140, as well as the previous yearly peak of 1.1275. To sum up, the EURUSD pair remains weak within a short-term trading range ahead of the key EU/US data.
by MTradingGlobal
NASDAQ - IDEA - SETUPFOREXCOM:NAS100 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:NAS100
by Phinics
US30 SetupFOREXCOM:US30 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:US30Long
by Phinics
EURUSD -> SHORT (Manipulation: Be Careful)Short Bias for the upcoming week. EURUSD, seem to be changing course to the upside, but that will only happen if the price breaks the $1.087 mark, and if the market doesn't, We can see the Good short. Analysts predict that this month's Eurozone inflation will increase year over year to 2.5% from 2.4% in April, with the core measure expected to stay stable at 2.7%. EVENT: Unemployment Claims & Prelim GDP q/q -> MAY 31 - --------------- **First Scenario - Short:** First Target: $1.0825 Second Target: $1.0805 Entry: $1.0861 Stoploss: $1.08645 **Second Scenario - Long:** Initial Target: $1.09675 Entry: $1.087 Stoploss: $1.08645 - --------------- Take into consideration: Psychological Resistance at $1.097 Psychological Support at $1.08 - --------------- NFA DYOR - --------------- Good Luck! ⚠️ Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.
Short
by irfanp056