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Eurusdtradeidea

EUR/USD Faces Downward Pressure Amid Strong USD MomentumThe EUR/USD has shown a bearish momentum, backed by both technical and fundamental factors. The currency pair has been on a decline, marked by its positioning below the critical 200-day SMA. SocGen's prediction about the pair possibly reaching parity and HSBC's prediction of USD strengthening further support a bearish sentiment. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: SELL 👉ENTRY PRICE: 1.0615 (current price, but would ideally wait for confirmation of a break below this level) ✅TAKE PROFIT: 1.0516 (March low, and then potentially 1.0481 if it breaks the March low) ❌STOP LOSS: 1.0665 (A slight buffer above the current level to give the trade some room) FINAL THOUGHTS: Given the current scenario, a sell trade on the EUR/USD seems favorable. However, like any trade, it's essential to manage risk and keep updated with global economic news that can influence currency movements.
Short
by RichDadph-FX
1
EUR/USD falters around its 2023 open price, ahead of FOMCYes, EUR/USD has fallen to a key support level around the May low. And that will likely deter some bears around current levels from entering short (depending on their timeframe). But given the potential for for the Fed to deliver a more hawkish message than money markets are pricing in whilst the ECB suggest they are done tightening, we're not discounting the potential for EUR/USD to break lower. The daily trend remains bearish and a shooting star formed following a 2-day retracement higher. Its high perfectly respected a 61.8% Fibonacci retracement level before the day closed back beneath 1.070. But what has really caught our eye is that prices also faltered around the 2023 open price. And that means the euro really has gone nowhere this year, and the market is paying attention to that open price. Given the corrective price action on the 1-hour chart, we'd prefer to fade into move up towards or around 1.0700 for a move back towards those lows. The bias remains bearish below 1.0730 (although keep in mind extra levels of volatility around the FOMC meeting can mess with such levels before the real move begins).
Short
by CityIndex
1
Time for a pullback in EUR/USD? 1.09 soon?Similar to GBP/USD, EUR/USD has been on a relentless downtrend for the last few weeks. However, the price is at a very interesting level now. With FOMC event coming up, let us analyze and see if there is a chance for the bulls. 📌EUR/USD is currently around the key level at 1.0640. Price has in fact, shown a small bounce from this key level. 📌If the support level at 1.0640 holds, I expect EUR/USD to go further towards 1.0857 and 1.09. 📌 Traders can consider buying EUR/USD@1.0640-1.0660 with SL below 1.06 and initial TP at 1.0850 . The buy trade should be placed only if the key level at 1.0640 remains unbroken .
Long
by MarcellusLUX
13
EUR/USD Under Pressure: Could 1.0515 be the Next Floor?The EUR/USD currency pair is under significant downward pressure, hitting a six-month low. The ECB's mixed signals, despite a rate hike, along with strong U.S. economic data, are contributing to the Euro's decline. Analysts forecast potential further depreciation, targeting March's low of 1.0515. However, China's robust economic data could offer some cushion. Resistance for the EUR/USD pair stands at 1.0730. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉ENTRY PRICE: 1.0650 ✅TAKE PROFIT: 1.0520 ❌STOP LOSS: 1.0700 ANALYSIS: Given the current bearish sentiment supported by ECB's dovish outlook despite a rate hike, and the strong economic indicators from the U.S., a sell trade seems warranted. The strong resistance level at 1.0730 suggests that the pair is unlikely to break this level in the short term. FINAL THOUGHTS: This sell trade aims to capitalize on the bearish outlook for EUR/USD, reinforced by both technical and fundamental indicators. Strong U.S. economic performance and mixed signals from the ECB suggest a continued downward trend in the short term. However, one should remain cautious due to external factors such as positive Chinese economic data.
Short
by RichDadph-FX
3
EURUSD 4-Hour Chart Analysis possible pull-backExamining the 4-hour chart of EURUSD, we observe that the price has reached our anticipated level of 1.07080. At this point, there is an 88.6% Fibonacci retracement of the May-July rally. Furthermore, the Relative Strength Index (RSI) for the current pair indicates oversold conditions, suggesting that EURUSD might be poised for a defensive rebound towards levels around 1.08050 to 1.08350. However, it's important to note that from this rebound zone, there is a potential for the price to resume its downward movement, targeting the May 31st low of 1.06300. We anticipate the possibility of the price falling below this level, which could pave the way for a move towards the March 15th low of 1.05200. This latter level serves as our initial target for mid-term short positions. Please remember that trading carries inherent risks, and market conditions can change swiftly. This analysis is for informational purposes only and should not be considered as financial advice. Always exercise prudent risk management and consider various factors when making trading decisions.
Long
by Coder775
1
EURUSD possible buy and sell zone!!Currency Pair : EURUSD Possible direction : Bullish/Bearish With Main Refinancing Rate and Monetary Policy Statement coming up, there is very high chance for EURUSD to fill the FVG that has left daily 20EMA as the pricing in 4h moving with a bullish channel. Todays price still above the previous daily low, means, very high probability bulls will try to keep the higher low maintained. As 4h bullish channel is still on, we could see a break of the channel to the upside, which could lean the price to the FVG and breaking the high to the liquidity zone and from that place, we could see sell of to the monthly support zone. The possible entry would be ideal on the daily support a buy after rejection and a sell upon liqudity grab from the FVG. Please leave a like if you enjoy this analysis and comment below what do you think, which way EURUSD is heading with the news?
Long
by ForexWizard01
1
EURUSD: What to know in markets on Thursday!- EUR/USD is holding on to recovery gains near 1.0750 as the US Dollar (USD) remains behind according to mixed US Consumer Price Index (CPI) data. - The annual measure of US inflation rose 3.7% in August, compared with an expected 3.6% increase. CPI rose 0.6% in August, the biggest monthly increase of 2023 and in line with market estimates. Core CPI rose 0.3% and 4.3%, respectively, compared with estimates of 0.2% and 4.3%. - US S&P 500 futures boost market optimism, as US data underpins Federal Reserve (Fed) pause bets. - The yield on the benchmark 10-year US Treasury note fell to 3.21%. - On Tuesday, Germany's ZEW Economic Sentiment improved to -11.4 in September. However, the index measuring current conditions hit a three-year low at -79.4. "Financial market experts are even more pessimistic about the current economic situation in Germany than in August 2023," the ZEW Institute said. - The ECB event will be decisive for the short-term direction of the EUR/USD pair, as the focus turns to the Fed's policy announcements next week.
Long
by Sphyn-Trader
4
EURUSD: ECB detects leaked reportEUR/USD retreated moderately on Tuesday. It jumped to 1.0769, its highest in a week during the Asian session, but then reversed course, holding above 1.0700. Markets await US consumer inflation data and the European Central Bank meeting. Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest since August 2020) down from -71.3, while the Expected index reached -11.4, above the -15.0 forecast. The report provides more signals about a potential recession in Germany and the Eurozone. These factors weigh on expectations of an interest rate hike by the European Central Bank.
Short
by Sphyn-Trader
6
EURUSD: Investors wait for CPIThe EUR/USD currency pair experienced a slight recovery after reaching a new low below 1.0700 on Thursday. Although the bearish bias of the pair remains, there is potential for support due to profit-taking and an improved risk sentiment leading up to the weekend. On Thursday, the US Dollar continued to strengthen against its counterparts following positive weekly data. The number of initial applications for unemployment benefits decreased to 216,000 in the week ending September 2 from 229,000. Additionally, Unit Labor Costs for the second quarter were revised higher from 1.6% to +2.2% in the Bureau of Labor Statistics' initial estimate.
Short
by Sphyn-Trader
9