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U.S. Dollar / Euro

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USDEUR trade ideas

EURUSD increased but the risk was intactDear friends, Yesterday, EUR increased by 0.71% and closed at its highest level in over a month. This price increase is accompanied by strong upward momentum and the continued strength of EUR is evident today. However, any increase may encounter strong resistance at the level of 1.0700. The main resistance level at 1.0740 is unlikely to be threatened. To maintain this upward trend, EUR must stay above the level of 1.0625 (with minor support at 1.0645). In the next 1-3 weeks: Yesterday, EUR increased by 0.71% (1.0668) and closed at its highest level in about a month. The price action appears to be part of a potential extended recovery above the 1.0700 level. At this stage, it is still too early to determine whether EUR has enough momentum to reach the key level of 1.0740 or not. The possibility of further recovery remains as long as EUR stays above 1.0600 in the coming days. What are your thoughts on EURUSD?
by Samson-FX
EURUSD increased sharply in the new weekHello friends Currently, the upward trend that started last week is still going strong. At the time of writing, EURUSD is trading at 1.057 with no signs of breaking out of the trend. It is expected that the price will continue to maintain the upward trend, fluctuating between 1.055 (the lower limit of the rising price channel) and 1.062 (the upper limit of the rising price channel). As long as there is no breakout from the current trend, the upward momentum will remain stable.
by Samson-FX
EUR/USD is damaged below 1,0500Dear friends, the EUR/USD pair is struggling to find any significant momentum and is trading within a narrow range below the 1.0500 level. The fundamental context seems to favor bearish traders. The EUR/USD exchange rate rose to 1.0595 and then retraced, forming a short-term double top pattern. The downside move below 1.0560 confirmed this pattern, with the target being achieved at 1.0530. This pattern suggests that the currency pair may have reached a short-term peak. If the exchange rate breaks below 1.0520, it could further weaken the Euro, with the next significant support level at 1.0500. On the upside, the pair would need to reclaim the 1.0565 level to indicate another test of the important resistance level at 1.0595. Breaking above this level would open the door for further gains, targeting 1.0630.
Short
by Samson-FX
EURUSD - Predicted October 20Chairman of the US Federal Reserve (Fed) Jerome Powell said that inflation has cooled down, but the agency is still determined to bring back the 2% target. In a speech on October 19 in New York, Jerome Powell admitted that tightening policies had brought inflation back under control, but emphasized that the Fed still needed to be cautious in pursuing its goal. "Inflation is still too high. A few months of good data is just the beginning to give us confidence that inflation is returning to target. But we still don't know how long these good numbers will last, or Where will inflation be in the coming quarters?" he said. He affirmed that Fed officials "unanimously committed to bringing inflation to 2%". This speech raises questions about the Fed's upcoming policy after a series of consecutive interest rate increases. The Fed has raised interest rates 11 times since March 2022, to the current 5.25%. This is a 22-year high.
Short
by NicoTradingMaster
EUR/USD price analysis: Achieving modest increaseHello dear friends! Today, the EURUSD experienced modest gains during the Asian trading session on Monday. It is evident that the recovery of this currency pair is supported by a weaker US dollar (USD). As of the time of writing, EUR/USD is trading at 1.0525. From the technical analysis chart: As mentioned, immediate resistance for EUR/USD can be seen at 1.0558. Additional price increase filters will appear at 1.0578. Any further buying trades above this level will witness a recovery towards the key barrier at 1.0600, describing a psychological round number and the highest level of October 6th. Moving further north, the major currency pair will challenge the next resistance at 1.0640 (high of October 12th), followed by 1.0655. On the other hand, 1.0477 serves as the initial support level for EUR/USD. The next dispute to monitor is near the lowest level on October 4th at 1.0450. The next stop is in the range of 1.0400-1.0405, representing a psychological sign and the highest level of October 17th. A decisive break below this level will result in a decline towards 1.0330 (low of November 16th, 2022).
Short
by Samson-FX
EURUSD continues to fall into the fieldHello dear traders! Currently, the EUR/USD is holding higher but still below the 1.0600 level in Asian trading on Wednesday. The risk-off sentiment is dominating and weighing on the US Dollar, particularly in the face of optimistic data from China. Lagarde's speech and EU/US data are being closely watched. On the 4-hour chart, the price is well supported and is currently trading around the 1.0574 level. The current resistance level is around 1.0600, and breaking above that level will attract attention towards 1.0630. Closing the day above that level will pave the way for further gains. On the other hand, a drop below 1.0540 will weaken the outlook for the Euro, causing it to decline towards 1.0500.
by Samson-FX