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EURUSD Wave Analysis 27 November 2024 - EURUSD reversed from support area - Likely to rise to resistance level 1.0620 EURUSD currency pair recently reversed up from support area located at the intersection of the long-term support level 1.0455 (previous yearly low from 2023) and the lower weekly Bollinger Band. The upward reversal from the support level 1.0455 will form the weekly Bullish Engulfing if the pair closes this week near the current levels. Given the oversold weekly Stochastic and the strength of the support level 1.0455, EURUSD currency pair can be expected to rise to the next resistance level 1.0620 (former support from May).
Long
by FxProGlobal
EURO - Price can bounce up from support area to $1.0685 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago, the price started to decline inside a falling channel, and in a short time, it fell to the $1.0810 level. Then, the price entered the resistance area, after which it turned around and rose to the resistance line of the channel, making a first gap. After this, EUR made impulse down, breaking $1.0810 level, exited from channel, and continued to decline in pennant. In pennant, price fell below $1.0515 level, to support line of this pattern, after which made a second gap and returned back. Also recently, Euro broke $1.0515 level and exited from pennant and now trades close to this level. In my mind, price can fall to support area and then bounce up to $1.0685 points. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
Silver Bullet Strategy EURUSD USDCAD AUDUSD | 26/11/2024Yesterday served as a classic example of the importance of risk management in every trader's system. We initiated three trades across three different currency pairs (EURUSD, GBPUSD, USDCAD) and plan to provide a detailed breakdown of each trade, including the outcomes. We began scouting for potential setups that matched our entry criteria at 10:00 EST. By 10:30 EST, a FVG had developed on GBPUSD, indicating potential selling opportunities during this trading session. All that remained was to wait for a retracement into the created FVG to secure an entry point for the trade The subsequent five-minute candle entered the Fair Value Gap (FVG) on GBPUSD, indicating that we could execute our trade upon its closure. Simultaneously, we were exploring additional trading opportunities across various currency pairs. It was then that we observed the emergence of a FVG on USDCAD, necessitating a wait for a retracement into the FVG before executing a trade. We executed the trade on GBPUSD while awaiting confirmation to enter the USDCAD position. The USDCAD setup provided an entry confirmation, indicating that we would have two trades active during this session. Additionally, the session was still ongoing when we observed that another EURUSD setup was approaching the fulfillment of our entry criteria. Immediately after initiating the trades on GBPUSD and USDCAD, we observed a significant drawdown on both. This was due to a large bearish marubozu candle printing on the USDCAD, while the GBPUSD experienced two successive bullish candles, casting both positions in an unfavorable light. While all this was happening the setup on EURUSD had fulfilled all the requirements on our checklist so we had to execute that trade as well. Our USDCAD position hit the stop loss, and shortly after, our GBPUSD position also reached the stop loss, resulting in a 2% reduction of our trading account for the day. This leaves us with just one active position on EURUSD. Being in such a position wouldn't be easy to bare if we hadn't managed risk properly. We entered these trades risking only 1% per trade and had already accepted the potential outcomes, which greatly diminished any emotional attachment to these trades. With that in mind, the EURUSD position began moving in our desired direction, which was a considerable relief after two out of three trades had reached the stop-loss point We patiently waited, and this time our patience paid off when our EURUSD position hit the take profit (TP) for a 2% gain. Thus, for the day, we experienced two losses and a win, but with effective risk management, our win offset both losses, and we broke even for the day. Do you see the importance of ensuring your wins outweigh your losses? We experienced just one win and two losses, yet our single win was more significant that it offset all the losses we had for the day
Education
by CleoFinance
5
27-11 EURUSD27-11 EURUSD The long-awaited recovery of the Euro seems to be announcing itself today. After the figures from the US came in such as the GDP, which mainly remained stuck. the Euro started an up-trend. We have a buy series starting at 1.06025. Our signal system still gives a score of Neutral composed of: Cot Data 0, Retail sentiment 0, Seasonality -1, Trend reading -2, GDP 0, Manufacturing PMI 0, Services PMI -2, Retail Sales 0, Inflation 0, Employment Change 2, Unemployment Rate 0, Interest Rates 0.
Long
by Probeleg
EURUSD The Target Is DOWN! SELL! My dear friends, EURUSD looks like it will make a good move, and here are the details: The market is trading on 1.0573 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.0528 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
3
EURUSD next possible moveSAXO:EURUSD Title "EUR/USD Intraday Analysis: Buy Entry | Pre-NFP Positioning" Market Context "EUR/USD gained some upward momentum today, with the pair bouncing off the 1.0500 support zone. Buyers are positioning ahead of tomorrow’s NFP data, anticipating potential dollar weakness if the numbers disappoint." Technical Analysis *"Today's buy entry was based on a favorable technical setup: Price Action: After forming a higher low near 1.0505, the pair showed strong bullish candles, indicating buyer interest. EMA Breakout: The price crossed above the 20 EMA on the H1 chart, confirming a short-term trend reversal. RSI: Rising from 48 to 55, signaling bullish momentum. MACD: Positive crossover on the H1 timeframe, supporting the buy decision. Key levels: Resistance: 1.0550 and 1.0580. A break above these levels could lead to further gains. Support: 1.0510. Below this, the bullish structure might weaken."* News Context "Upcoming: The U.S. NFP release tomorrow remains the key driver for potential volatility. Previous: Strong U.S. GDP data earlier this week supported the dollar, but profit-taking appears to give EUR some relief." Call to Action "Do you think this buy entry will hold up ahead of NFP, or is EUR/USD in for more downside? Comment your thoughts!"
Long
by RBSBALA
EURUSD - Potential for Upside EURUSD has broken the strong Resistance level and now aim for upper levels. We are waiting for the US news as this will be the driver of next move. Potentially we look for a Bullish move however please be cautious of news trading. Best approach is to go from level to level rather than aiming for a swing move as sentiments can switch anytime. For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management. If you found this analysis helpful, please consider boosting and following for more updates. Disclaimer: This content is for educational purposes only and should not be considered financial advice.
Long
by MarketsPOV
Euro gains on lower Treasury yields to counter weak German dataThe Euro is back on the rise today, rising 0.2% against the US Dollar, reclaiming the 1.051 level while still remaining near its lowest levels this year. The euro’s is capitalizing on the correction in US Treasury yields after reaching levels that seem at attractive spot to buy. This has given the euro the ability to confront the continuous stream of weaker-than-expected data, the latest of which indicated a collapse in confidence in the German economy with the lowest reading of the GfK Consumer Climate Index since last April. The GfK headline reading was -23.3 in November, which was far below expectations. This was in light of a sharp decline in income expectations and some decline in the willingness to buy, in contrast to an increase in the willingness to save, according to the report. The report also indicated that consumers have become more pessimistic about the current economic situation, in addition to the continued dwindling hope for recovery, and this pessimism was due to the rise in insolvencies and job losses. Consumer expert at the Nuremberg Institute for Market Decisions Rolf Bürkl said that consumer uncertainty has increased recently, which explains the increased willingness to save. Today's GfK report follows the Ifo Business Climate report for November, which we saw earlier this week, and also pointed to the "floundering" in the German economy amid declining business sentiment, both regarding the current situation and future expectations, with companies in the manufacturing, services and construction sectors becoming increasingly pessimistic. These two reports also come in addition to the shocking purchasing managers' reports from S&P Global that we saw last Friday. Service activity in Germany and the eurozone contracted unexpectedly, and manufacturing activity continued to contract, amid very low business sentiment. Meanwhile, the PMI reports have sparked renewed concerns about the health of the region's economy, especially in light of the expected trade wars with the return of Donald Trump, in addition to concerns about the escalation of the conflict in Ukraine and its spiraling out of control. This worrying economic performance has raised the possibility that the European Central Bank will cut interest rates by 50 basis points at a meeting in December, according to the Financial Times. On the other side of the Atlantic, the Federal Reserve is cautious about the pace of rate cuts next year, and the minutes of the last meeting published yesterday further confirmed this, with policymakers talking about the need to take a gradual approach to the cuts. While Fed members see risks of a slowdown in the labor market or the economy as having diminished. In addition, the November PMI for the US report also indicated that sentiment has recovered after the end of the presidential election, which surrounded the economy with uncertainty, and this was accompanied by a faster-than-expected expansion in services activities. Therefore, the probability of a Fed rate cut in January is still low, at only 15%, according to the CME FedWatch Tool. While the expected quarter-point cut in December is still likely. Despite all this, we find the euro trying to rise today, amid the decline in US Treasury yields. The 10-year yield above 4.4% seems to be a buying opportunity, especially after a rate cut and relatively low inflation that has taken real yields to their highest levels since 2015. However, the 10-year German bund yield continue to fall sharply and are at their lowest levels since early October in light of the gloomy economic outlook. While the return of Treasury yields to the rise, driven by fading hopes for the pace of rate cuts next year, has pushed the yield gap with Eurozone bonds to a widening trend, which could pressure the euro to resume its losses. The gap between the 10-year Treasury and its German bund counterpart is 2.11%, which is close to the highest levels since last April, which we saw on Friday.
by SamerHa
EURUSD POSSIBLE BUYThe market is currently testing the current Weekly area. Based on 4HR TF, the market seems to be forming a possible reversal chart pattern. We could see Buyers coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Long
by WiLLProsperForex