Euro / U.S. DollarShort
EURUSD H1 11/12/2024 - SELL below 1.0525/1.0530 , Reversal 1.054
Multi-Timeframe Analysis
D1 (Daily Chart)
Trend: Strong bearish bias, with price below the 200 SMA and Ichimoku cloud.
Indicators: RSI at 40 and MACD signaling downside momentum.
Support/Resistance:
Support: 1.0490 and 1.0450.
Resistance: 1.0540 and 1.0570.
H4 (4-Hour Chart)
Trend: Downtrend continues, with price consolidating near the lower Bollinger Band.
Indicators:
Stochastic is in the oversold zone (17.87), indicating potential short-term pullback.
MACD suggests bearish momentum but losing strength.
Support/Resistance:
Support: 1.0495 and 1.0450.
Resistance: 1.0530 and 1.0550.
H1 (Hourly Chart)
Trend: Price is below all major moving averages and Ichimoku cloud, confirming bearish structure.
Indicators:
RSI at 40, indicating continued bearish bias but with room for a pullback.
Stochastic is oversold (23.76) and turning up, suggesting a potential retracement.
ATR (14) at 10 pips, reflecting moderate volatility.
Key Levels:
Support: 1.0495, followed by 1.0450.
Resistance: 1.0530 and 1.0545.
M30 (30-Minute Chart)
Trend: Intraday bearish trend intact, with consolidation near key support levels.
Indicators:
MACD turning slightly neutral.
Stochastic oversold (28.47), indicating potential for minor correction.
Revised Trade Plan for EUR/USD (H1)
Trade Setup 1: Bearish Continuation After Pullback
Rationale:
EUR/USD remains in a bearish trend, and any pullback toward 1.0530–1.0540 provides an optimal sell opportunity.
Trade Details:
Entry Price: 1.0525–1.0530 (on a retracement to resistance).
Stop-Loss: 1.0555 (above the intraday resistance).
Take-Profit Levels:
TP1: 1.0495 (current support).
TP2: 1.0450 (next key support).
Risk/Reward Ratio: ~1:2.
Trade Setup 2: Aggressive Breakout Short
Rationale:
A clean break below 1.0495 would confirm bearish continuation, targeting lower levels.
Trade Details:
Entry Price: 1.0490 (on a confirmed breakout).
Stop-Loss: 1.0515 (above the breakout level).
Take-Profit Levels:
TP1: 1.0470.
TP2: 1.0450.
Risk/Reward Ratio: ~1:2.
Trade Setup 3: Intraday Scalping on Reversal
Rationale:
If price breaks above 1.0535, it may trigger short-term buy momentum, targeting a retracement to the next resistance.
Trade Details:
Entry Price: 1.0540.
Stop-Loss: 1.0525.
Take-Profit Levels:
TP1: 1.0555.
TP2: 1.0570.
Risk/Reward Ratio: ~1:1.5.
Key Considerations
News Impact:
Watch for the 13:30 GMT US inflation data release, which could spike volatility. Avoid placing trades right before the release.
Correlated Instruments:
DXY: A rise above 106.75 may further pressure EUR/USD.
Treasury Yields: A spike in yields could add USD strength.
D1 (Daily Chart)
Trend: Strong bearish bias, with price below the 200 SMA and Ichimoku cloud.
Indicators: RSI at 40 and MACD signaling downside momentum.
Support/Resistance:
Support: 1.0490 and 1.0450.
Resistance: 1.0540 and 1.0570.
H4 (4-Hour Chart)
Trend: Downtrend continues, with price consolidating near the lower Bollinger Band.
Indicators:
Stochastic is in the oversold zone (17.87), indicating potential short-term pullback.
MACD suggests bearish momentum but losing strength.
Support/Resistance:
Support: 1.0495 and 1.0450.
Resistance: 1.0530 and 1.0550.
H1 (Hourly Chart)
Trend: Price is below all major moving averages and Ichimoku cloud, confirming bearish structure.
Indicators:
RSI at 40, indicating continued bearish bias but with room for a pullback.
Stochastic is oversold (23.76) and turning up, suggesting a potential retracement.
ATR (14) at 10 pips, reflecting moderate volatility.
Key Levels:
Support: 1.0495, followed by 1.0450.
Resistance: 1.0530 and 1.0545.
M30 (30-Minute Chart)
Trend: Intraday bearish trend intact, with consolidation near key support levels.
Indicators:
MACD turning slightly neutral.
Stochastic oversold (28.47), indicating potential for minor correction.
Revised Trade Plan for EUR/USD (H1)
Trade Setup 1: Bearish Continuation After Pullback
Rationale:
EUR/USD remains in a bearish trend, and any pullback toward 1.0530–1.0540 provides an optimal sell opportunity.
Trade Details:
Entry Price: 1.0525–1.0530 (on a retracement to resistance).
Stop-Loss: 1.0555 (above the intraday resistance).
Take-Profit Levels:
TP1: 1.0495 (current support).
TP2: 1.0450 (next key support).
Risk/Reward Ratio: ~1:2.
Trade Setup 2: Aggressive Breakout Short
Rationale:
A clean break below 1.0495 would confirm bearish continuation, targeting lower levels.
Trade Details:
Entry Price: 1.0490 (on a confirmed breakout).
Stop-Loss: 1.0515 (above the breakout level).
Take-Profit Levels:
TP1: 1.0470.
TP2: 1.0450.
Risk/Reward Ratio: ~1:2.
Trade Setup 3: Intraday Scalping on Reversal
Rationale:
If price breaks above 1.0535, it may trigger short-term buy momentum, targeting a retracement to the next resistance.
Trade Details:
Entry Price: 1.0540.
Stop-Loss: 1.0525.
Take-Profit Levels:
TP1: 1.0555.
TP2: 1.0570.
Risk/Reward Ratio: ~1:1.5.
Key Considerations
News Impact:
Watch for the 13:30 GMT US inflation data release, which could spike volatility. Avoid placing trades right before the release.
Correlated Instruments:
DXY: A rise above 106.75 may further pressure EUR/USD.
Treasury Yields: A spike in yields could add USD strength.
Disclaimer
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