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U.S. Dollar / Euro

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USDEUR trade ideas

EURUSD ANALYSIS OVER H1 CHART."Euro vs. US Dollar," EUR/USD A bounce off the Tenkan-Sen line is seen in EUR/USD. There appears to be a downward trend as the pair is heading below the Ichimoku Cloud. It is anticipated that there will be a test of the Double Top reversal pattern's bottom limit at 1.0780, followed by a drop to 1.0645. An further indicator that would validate the decline would be a rebound from the upper bound of the bearish channel. A breakthrough of the Cloud's upper limit, with the price securing above 1.0895 and pointing to a further advance to 1.0985, might invalidate the scenario. Looking for short term buying opportunities in it.
Long
by charliedavies770
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: A SHORT 1 HR ANALYSISMARKET STATUS: 1. the market has been making lower lows and lower highs 2. it is always advisable to follow the trend 3. so the market has currently made a pullback 4. it has entered a bearish ob and has been showing bearish nature 5. for safe entry confirm the trade with the 15 min time frame for choch to the downside and then enter the trade 6. Target the previous lows because those are the places with high liquidity and high chances of change in character can take place
Short
by VitalismTraders
EURUSD: THE DAILY ANALYSISRETAIL ANALYSIS WITHOUT SMC: 1. the market has been in a channel and had made a breakout indicating bullish nature 2. but the market has not made a higher high and it has actually made a double top just below a strong high where the bears were sitting 3. and the market has then broken below the neckline for the double top 4. now the market can either take liquidity from the bears as they would have taken entry at the break in neckline, trap them and then go long "OR" The market could have already trapped the bulls and aimed for bearish movement NOW HOW DO WE FIND WHAT IS IT GOING TO FAVOUR: use the 1 hour time frame which is the lower time frame and follow the trend there and look for change of character in that time frame to go long or else just continue with the bearish momentum until there is a change of character in the 1 hour
by VitalismTraders
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 Sell OpportunityThe EURUSD pair presents an enticing sell opportunity at the current price of 1.0840, with favorable potential for profit. Targets: Primary Target: 1.08400 Secondary Target: 1.07900 Breakout Scenario: In the event of a breach above the resistance level of 1.09200, indicative of a bullish breakout, the target price is anticipated to ascend towards 1.1100. Technical analysis indicates a notable selling sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed sell strategy, suggesting downward pressure on the Silver pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Short
by GODOCM
EURUSD: MARKET ANALYSISQ) WHAT IS THE CURRENT STATUS OF THE MARKET AND PRICE: 1. The price has been making higher highs and higher lows in the 1HR time frame 2. All the higher highs and the break of structure has been done with long bullish fvg, indicating the presence of smart money 3. Now the market is taking a short term retracement, so wait and the take a long entry Q) WHEN TO TAKE THE ENTRY ? HOW TO KNOW THE SHORT TERM LOW HAS BEEN FORMED? 1. Go into the 15 min time frame which is bearish as its been making lower lows 2. Wait for the price to make a Choch in the 15 min timeframe after which it will align with the 1 hour time frame bullish bias 3. then take a low risk high reward entry in the 15 min timeframe. Q) WHAT IS THE TARGET? 1. Target the previous highs in the 1Hour timeframe as target 1,2,3 etc and take your profits accordingly based on Your risk capacity
Long
by VitalismTraders
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