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Eurusdtradeidea

EURUSD: Mid Term Analysis after US InflationHi everyone! Today we look at the $EURUSD pair following the US inflation data released yesterday. First of all, I share this idea with you based on my analysis about the Dollar Index ($DXY) which you can see below, that said, we know that there is an inverse correlation between $EURUSD and $DXY, so if we have a bullish view on the dollar, we need to have a bearish view on the EURUSD pair (see chart below). From a technical point of view, looking at $EURUSD it is possible to have a "Head and Shoulders" formation in the mid term, and if this analysis is correct, the first bearish leg should reach 1.05 area and subsequent technical rebound developing Right Shoulders. At the same time, we should develop something like ABC Pattern for EW Traders. In conclusion, we must not forget one very important thing, the trend on daily chart is bullish, so going short on this pair is risky at the moment, so you need a small size and a good Money Management... but this is just my opinion opinion... Today we have Retail Sales to follow, and if we look intraday chart we see important support area around 1.067, if it fails, our potential neckline area should be reached, conversely, we will see important technical bounce, let's see what happens and if there will be the conditions, I will post a new update. EURUSD/DXY DOLLAR INDEX Analysis (Click and Play on Chart below) Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
Short
by TheAnonymousBanker
6
EURUSD: Trading like this today can be profitable Yesterday's trading saw all three take-profit points hit, and the current market is now at a crucial support level. After yesterday's sharp decline, the market needs some time to consolidate before resuming the game. For today's trading, we will first go long at the lower levels and then formulate a new strategy based on the situation after rebounding to the resistance level. I have marked the trading points on the chart, and I appreciate everyone's attention and support. Wish you a pleasant day!
Long
by triumphing
4
EURUSD: Trading like this today can be profitable Losers attribute their failures to bad luck and regret not trying harder; winners attribute their success to good luck but are aware of the price they paid. The people you associate with determine the course of your life. Being around diligent people keeps you from being lazy, positive people keep you from being down, being with wise people makes you outstanding, and being with accomplished people helps you reach the pinnacle. Learning skills and mastering professions take time, and it's fate that brings people together. Hello everyone, the EURUSD is currently showing a bearish trend on the 1-hour, 2-hour, and 3-hour charts. Therefore, today's trading will focus on short positions. We will wait for a test of support and observe its effectiveness. If the support holds, we will consider opening long positions. Thank you for your attention and support. I will continue to update my trading strategy. If you have any questions, please leave a comment, and I will help you develop the most reliable solution with a serious and responsible attitude to assist you in solving your problem. Wishing you a pleasant day!
Short
by triumphing
EURUSD: Hit first tp level, consider buying again on retracement Hello everyone, on March 2nd, when EURUSD was around 1.058, I provided a long strategy and a take-profit level. The first take-profit level has been reached now, and partial profits can be taken here, while the rest can be left to wait for the second take-profit level. Alternatively, all profits can be taken and wait for a retracement near the support level around 1.062 to go long again, with a target around 1.068. Thank you for your attention and support. I will continue to update my trading strategy. If you have any questions, please leave a message in the comment section, and I will help you develop the most reliable solution with a serious and responsible attitude. I wish you a pleasant day!
by triumphing
4
How important is liquidity in the forex In the foreign exchange market, understanding liquidity and volatility is crucial for investors, as liquidity refers to the level of trading activity and volatility is highly influenced by liquidity. If liquidity is too poor, it can lead to significant price fluctuations, making it difficult for investors to manage risks. What is liquidity, and why is it important? Liquidity can be used to observe the level of activity in the foreign exchange market, specifically how many buy and sell orders are actively traded. The foreign exchange market is a 24-hour trading market, with a daily trading volume of nearly $6 trillion, making it one of the most liquid markets in the world. However, it is worth noting that not all currency pairs have excellent liquidity in the foreign exchange market. In fact, currency pairs often have varying degrees of liquidity depending on whether they are major, minor, or exotic currency pairs. Liquidity decreases in the order of major currency pairs -> minor currency pairs -> exotic currency pairs. What are the major currency pairs with the "best" liquidity? EURUSD The euro against the US dollar is the most actively traded currency pair in the foreign exchange market due to the eurozone and the US being the two largest economies globally. Due to the enormous trading volume of the EURUSD currency pair, it also has high liquidity, making its volatility usually lower than other currency pairs. However, even the most liquid instruments can experience significant price swings under certain conditions, such as the outbreak of the Covid-19 pandemic in March 2020, when the Fed implemented zero interest rates and unlimited QE, causing the EURUSD to surge instantaneously, one of the high volatility scenarios. USDJPY The US dollar against the Japanese yen is the second most traded currency pair in the foreign exchange market, second only to the EURUSD. The USDJPY currency pair also has high liquidity because during periods of economic uncertainty or financial market turmoil globally, the Japanese yen is widely regarded as a "safe-haven currency." Thus, market funds are easy to flow into buying the Japanese yen, often resulting in a significant increase in trading volume of the USDJPY currency pair. GBPUSD The British pound against the US dollar currency pair is also known as "Cable" because GBPUSD was the first currency pair to be traded via transatlantic communication cables. The UK and the US are two major Western economies with close trade relations, making the trading volume of GBPUSD also massive. What are the "lowest" liquidity exotic currency pairs? Exotic currency pairs usually have the lowest liquidity, such as the Polish zloty against the Japanese yen. As the economic trade volume between Poland and Japan itself is not high, the delivery demand or hedging risk demand of the two currencies is relatively small. Therefore, exotic currency pairs usually have low liquidity. Does the liquidity of the forex market vary during different trading sessions throughout the day? In daily forex trading, there are periods of low activity, such as during the Asian session when prices tend to consolidate. However, during the London and US sessions, prices are more likely to experience significant fluctuations. Among the trading sessions throughout the day, the US morning session has the best liquidity, as it overlaps with trading hours in Europe and London. The forex trading volume during the European and London trading sessions accounts for over 50% of the daily global trading volume, with the overlapping period with the US morning session accounting for approximately 20% of the total daily trading volume. The volatility of forex is directly influenced by liquidity. Liquidity has a significant direct impact on market price volatility in all financial markets, including the forex market. High liquidity markets have higher trading volumes and therefore lower volatility, resulting in more stable commodity prices. In contrast, low liquidity markets have lower trading volumes, higher volatility, and commodity prices are more likely to experience significant fluctuations. As a professional with in-depth knowledge of futures products such as cryptocurrencies, forex, stocks, gold, and crude oil, I regularly update my trading strategies. Thank you for your support and likes, and please feel free to leave me a message if you have any questions. I will provide you with the most reliable advice and hope to be of help to you.
Education
by FlashTrades_
1
EURUSD SHORT TERM INTRADAY IDEAIntraday Analysis - EURUSD - ( 2nd MAR 2023 ) Similar to GOLD , will be looking for shorts on EURUSD. Overall bias stays as bearish. However we have EUR CPI during London session later. If cpi comes out as per forecasted , or higher than forecasted, EURUSD will have a short lived rally to greater sell side liquidity zones as marked in the charts. However do note that the move may be short lived and could possibly be corrected the next day or the following week. Why high CPI means EUR rally ? Understand that CPI is a strong indicator of inflation. With high inflation , higher interest rates have to be implemented to combat inflation which will cause the strength of EUR to increase. It is possible to take advantage of CPI data buys or shorts but risk lesser HRHR BUYS AT 1.06850 MRMR BUYS AT 1.07300 HRHR SELLS AT 1.07900 MRMR SELLS AT 1.06800 SAFEST SELLS AT 1.05800 NOT ADVISIBLE TO TRADE NEWS FOR ROOKIE TRADERS
by CJ_GOLDPIPS
1
Could the rising wedge still be valid on the EUR/USD?With short positions still being held at 1.0788 and 1.0645, I'm looking to see if we break below that pivotal zone which would potentially open things up for sellers to come pouring in. I will not look to add any positions as of right now. The best course of action is to stay patient and observe the price action. If we do break, I will lower stop losses to control risk and let it ride potentially towards 1.0100. Trade idea is invalidated if we find strong support around 1.0600 - 1.0550 zone.
by InternalTraderNYC
EURUSD possible sell zone!!Currency Pair : EURUSD Possible direction : Bearish Technical Analysis : Price has broken out of daily support and showing strong bearing momentum on daily and 4h. Current session candle has a very weaker response from the buyers, and as the price heading to monthly support, there is a selling opportunity on the test of the previous support turn resistance after a strong rejection. Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Short
by ForexWizard01
1
eurusd Technical analysis of EURUSD monthly time: 25.2.2023 We can see that after reacting to the 50 fibo range, we had a resistance zone in B pattern crossing it, now we are exactly on a resistance zone in the range of 1.05420, which in case of failure can be two targets in the ranges of 1.03799 and 1. 01716 based on pivot points. There is no need to touch both. In general, the goal of the harmonic pattern can be reconsidered, but we must not forget that the resistance of the X range of the pattern is within the range of the two specified targets and can prevent further reduction.
by maryammh
1