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USDEUR trade ideas

EURUSD portrays bullish exhaustion, focus on 1.0960 and US dataEURUSD is seeing its first daily gains in three days as buyers gear up to tackle key resistance levels ahead of upcoming US employment data. Supported by positive RSI indicators and bullish MACD signals, the Euro pair aims to extend its recent uptrend towards a 13-month-old descending resistance line around 1.0950. Beyond this, it targets the upper boundary of a bullish channel stretched from April, near 1.0960. Breaking above these levels could pave the way for a challenge of the psychological barrier at 1.1000, with potential further gains towards the late 2023 peak near 1.1140. On the downside, June’s peak at approximately 1.0915 and the 1.0900 mark, along with the 50% Fibonacci retracement level near 1.0860, act as immediate support. Deeper declines might find additional footing near the 100-day Simple Moving Average (SMA) around 1.0790 and the 38.2% Fibonacci retracement level near 1.0765. Euro buyers maintain optimism unless there is a daily close below the bullish channel’s lower boundary near 1.0700. Overall, while EURUSD bulls show signs of slowing down, bearish momentum is muted, even if US economic data boosts the US Dollar.
by MTradingGlobal
EURUSD Long (1:2)To enter a long position in EUR-USD, consider doing so around the 1.0885-1.0890 range, which aligns with the recent breakout level on the 15-minute chart. This entry should be confirmed by bullish candlestick patterns such as a hammer or an engulfing pattern, accompanied by volume spikes. For the exit strategy, set your target at 1.09210 To manage risk, use a trailing stop-loss just below the breakout level at 1.0880, with a hard stop-loss placed just below the recent higher low at 1.0875. Note: this is not a trading or investment advice. It is meant for education purposes only.
Long
by ritvik88
1
EURUSD(2H)This chart is an analysis of the EUR/USD currency pair, showing price action and potential future movement based on technical analysis. ### Key Elements of the Chart: 1. **Downtrend Line**: - The chart shows a downward sloping black line, representing a trendline that the price has respected multiple times. This trendline indicates the general bearish trend that the pair has been following. 2. **Breakout and Retest**: - The price has broken above the downtrend line with a strong bullish move, indicating a potential reversal or correction of the previous downtrend. - The price is currently consolidating after the breakout, potentially preparing for a retest of the previous resistance (now turned support) near the Fibonacci levels. 3. **Fibonacci Retracement Levels**: - The chart includes Fibonacci retracement levels drawn from the recent low to high (or vice versa). The key levels visible are 0.5 (1.08519), 0.618 (1.08343), and 1 (1.07774). - The price is expected to pull back towards these Fibonacci levels, particularly between 1.08519 and 1.08343, which are marked by a gray zone, before potentially continuing its upward movement. 4. **Supply Zone**: - The gray rectangle at the top of the chart represents a supply zone where sellers are likely to enter the market. This zone is just above the 1.09264 level, and it indicates a possible target for the price if the bullish trend continues. 5. **Potential Price Movement**: - The curved arrow suggests a possible bullish scenario where the price may retrace to the Fibonacci levels before heading back up towards the supply zone around 1.09400. - This movement would align with the general idea of a breakout, retest, and continuation pattern. ### Suggested Description for TradingView Post: "This EUR/USD 2-hour chart shows a significant breakout above a long-term downtrend line, indicating a potential shift in market sentiment. The price is now likely to retest the breakout level, aligning with key Fibonacci retracement levels (0.5 and 0.618). If the retest holds, we could see a bullish continuation towards the 1.09264 - 1.09400 supply zone. Traders should watch for a potential pullback to the 1.08519 - 1.08343 area before considering any long positions." This description outlines the technical analysis and provides a clear rationale for the anticipated price movement.
Long
by harshkjogadia
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 MULTI TIME FRAME ANALYSISHello 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 price action 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. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
1
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
EURUSDEUR/USD 4-Hour Analysis: Bearish Continuation with Retest Strategy Chart Overview: This EUR/USD 4-hour chart analysis highlights a bearish continuation pattern with a potential retest strategy. The analysis marks critical support and resistance zones, along with key price action areas, indicating potential price movements. Key Points: Trend Analysis: The chart shows a recent bearish trend continuation after a significant drop from the previous highs. The price has broken below a key support level, which has now turned into resistance. Support and Resistance Levels: Support: The next key support level to watch is around 1.0780. Resistance: The broken support zone around 1.0870 is now acting as resistance (gray zone). Bearish Continuation Signal: The price has broken below the critical support level around 1.0870, indicating a strong bearish momentum. The current price action suggests a potential retest of the broken support level, now acting as resistance, before continuing the bearish move. Potential Price Path: The analysis suggests a retest towards the new resistance zone around 1.0870, followed by a bearish continuation towards the next support level around 1.0780. The projected price path is indicated by the downward arrow, showing the expected move after the retest. Market Sentiment: The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows. Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend. Trading Plan: Look for selling opportunities on pullbacks towards the resistance zone around 1.0870. Consider placing stop-losses just above the resistance level to manage risk. Target the support level around 1.0780 for potential take-profits. This analysis suggests a potential bearish continuation for EUR/USD, with selling opportunities on pullbacks towards the resistance zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
Short
by harshkjogadia
EURUSD 5Hr View! The dollar climbed on Friday and was set to snap a two-week streak of declines as a worldwide cyber outage that affected banks, airlines and broadcasters unnerved investors, although volatility in the currency markets was largely contained. A software update by global cybersecurity firm CrowdStrike CRWD crippled industries from travel to finance before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected technologies. The dollar index was on track for its second s
by FXBANkthe8055
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
technical look at the EURUSDFor the EURUSD, it based yesterday at the 50% midpoint of the move down from the December 2023 high (see video yesterday "EURUSD bounces off the 50% midpoint, giving the buyers the "go-ahead" to push higher"). That gave traders the go-ahead to push higher and indeed the price pushed higher today. The move to the upside has now extended by the 61.8% retracement at 1.0933 and tests the high going back to March 21 at 1.0942. Above that level and chairs aside to target the other high prices from March at 1.0963 and 1.0981.
Short
by FXBANkthe8055