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EUR/USD: Bearish Momentum Continues with Key Levels in FocusEUR/USD Technical Analysis Trend Analysis: - The daily chart shows a clear downtrend, with stability in the bearish volume, indicating persistent bearish momentum. - Recent price action has been moving downward, suggesting continued selling pressure. Current Outlook: The price will continue to trade in a bearish trend as long as it remains below 1.0707 and 1.0745, targeting 1.0616. The EUR/USD is expected to consolidate between 1.0616 and 1.0707 until a breakout occurs. Bearish Scenario: As long as the price trades below the pivot zone, it is expected to drop to 1.0616. A break below this level could lead to the next bearish target at 1.0505. Bullish Scenario: For an uptrend to be established, the price must reverse and stabilize above the pivot zone, targeting 1.0796 and then 1.0853. Key Levels: - Pivot Line: 1.0710 - Support Levels: 1.0620, 1.0505, 1.0400 - Resistance Levels: 1.0796, 1.0850, 1.0915 Expected Trading Range: The price is anticipated to move between the resistance at 1.0745 and the support at 1.0615. In summary, maintaining a position below 1.0707 supports a bearish outlook, with further declines likely. Conversely, breaking above the pivot zone could signal a shift to a bullish trend, targeting higher resistance levels.
Short
by SroshMayi
EURUSD 16/6/24To start the week off, we are looking at another bearish shift in the EU, similar to what we observed last week. As we have mentioned before, we aren't expecting price to move perfectly or hit every point on our chart. Instead, we are looking for our ideas to somewhat align with one of our bias scenarios. For this week, we anticipate price to move back to the area of supply that caused the last breakdown, highlighted in our first red box above the current price position. A less likely, but still possible, scenario is for the price to immediately turn bearish from its current position. Our preferred move is for the price to move through the area of supply that caused the previous breakdown and push to the extreme swing POI that we have marked at the upper end of our range. This is our ideal area to sell from. Of course, we will look for buying opportunities during the pullback, and we may consider selling from the order block below if it elicits any major reaction. Track price and trade your rules!
by rosshayes
Euro can rebound up from buyer zone to resistance lineHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a not long time ago started to trades inside the upward channel, where it soon reached the support level, which coincided with the buyer zone and broke it. After this, the Euro made a correction to the support line of the channel and then rebounded up and continued to move up inside the channel. Later, the price reached a resistance level, which coincided with the seller zone, but at once turned around and fell a little lower. After this movement, the price reached the 1.0885 level again and then fell almost to the support line of the upward channel. Next, the Euro rebounded up and rose to the seller zone, but soon turned around and dropped to the 1.0685 level, thereby breaking the resistance level and exiting from the channel. Also, the price formed a gap, after which rose to the resistance line and then fell to the support level. Not a long time ago EUR started to grow, so, in my opinion, the price can fall to the buyer zone, and then rebound up to the resistance line. For this case, I set my TP at 1.0780 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
EURNZD intraday rallies continue to attract sellers.EURNZD - Intraday Our short term bias remains negative. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. Offers ample risk/reward to sell at the market. There is no clear indication that the downward move is coming to an end. 20 4hour EMA is at 1.7483. We look to Sell at 1.7482 (stop at 1.7532) Our profit targets will be 1.7362 and 1.7332 Resistance: 1.7465 / 1.7525 / 1.7560 Support: 1.7430 / 1.7392 / 1.7350 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURO - Price can continue decline to $1.0630 in falling channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to wedge, where it at once broke $1.0850 level and fell to support line of wedge. Then price in a short time rose to resistance line, breaking $1.0850 level again, but soon it made downward impulse. Price exited from wedge, broke $1.0850 level again, and fell to $1.0735 level, which coincided with resistance area. After this, Euro bounced up to $1.0850 level, after which started to decline inside falling channel. In channel, price fell lower $1.0735 level, thereby breaking it, and now EUR trades close to support line. Possibly, price can rise to resistance area, after which Euro turn around and continue to fall to $1.0630 in channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Bullish rise?EUR/JPY has just reacted off the pivot and could potentially rise to the pullback resistance. Pivot: 168.31 1st Support: 167.37 1st Resistance: 170.03 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
EURUSD:Strong NFP but coming CPI may change directionDear Traders, Following a period of subdued inflation data, EURUSD recently breached the 1.09000 mark. However, Friday's Non-Farm Payroll (NFP) report surpassed expectations, revealing over 272,000 jobs created compared to the anticipated 185,000. Consequently, EURUSD has retraced towards the key uptrend support around the 1.07800 level. While the NFP figures are significant, it's crucial to recognize that they are just one piece of the puzzle for the Federal Reserve's decision-making process. Another critical aspect will be the forthcoming Consumer Price Index (CPI). Should the CPI data indicate a softer inflationary trend, we anticipate further weakness in the USD, potentially propelling EURUSD upwards from the support zone at 1.07800. Conversely, if the CPI surprises with higher-than-expected inflation, we may witness a break in the EURUSD downtrend, possibly leading to new lows. Remember to trade cautiously and stay informed. Best regards, Joe
Long
by JoeChampion
4
EUR/USD Follows Bullish Path Post-CPI; Buy Limit Strategy FocusEUR/USD experienced a significant upward movement on Wednesday, driven by an overall increase in market risk appetite following the release of a cooler-than-expected US Consumer Price Index (CPI) inflation report. This positive sentiment was initially bolstered as the lower inflation figures suggested a potential easing of pressure on the Federal Reserve to raise interest rates aggressively. However, the enthusiasm was tempered later in the day due to the Federal Reserve’s hawkish stance reflected in its latest update to the dot plot of interest rate expectations. This update indicated a possibility of more rate hikes in the future than previously anticipated, which crimped market sentiment. From a technical standpoint, the price action adhered closely to our earlier analysis. The EUR/USD pair achieved all the take-profit targets we had established beforehand. Post-FOMC meeting, the price action retraced the gains from the CPI-induced bullish impulse, creating a gap in the market. This gap, left by the rapid price movement following the CPI release, typically attracts market participants looking to "fill" it, as prices often return to these levels to establish more balanced trading conditions. Given the current scenario, we are contemplating a strategic approach involving a potential buy limit order. This approach is based on the expectation that the price will return to cover the unfilled gap left by the CPI announcement. The buy limit order would allow us to enter the market at a more advantageous price point, capitalizing on the anticipated retracement. Additionally, the broader economic context and market sentiment will be closely monitored to adjust our strategy as needed, ensuring that our trading decisions are well-informed and responsive to ongoing developments. In conclusion, while the EUR/USD pair has shown resilience and upward momentum, the mixed signals from recent economic data and Fed communications warrant a cautious yet opportunistic approach. By setting a buy limit order, we aim to leverage the expected price correction, positioning ourselves to benefit from subsequent bullish movements.
Long
by FOREXN1
1
Bullish bounce?The Fiber (EUR/USD) is falling towards the pivot which has been identified as a pullback support level and could potentially bounce to the 1st resistance. Pivot: 1.07967 1st Support: 1.07297 1st Resistance: 1.08565 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
EUR/USD Faces Pressure Amid Strong USD and Risk-AversionThe EUR/USD pair started the new week with a bearish gap, falling to its weakest level in a month below 1.0750. Despite technical indicators on the H4 timeframe suggesting oversold conditions, the Euro might struggle to stage a significant rebound given the current risk-averse market environment. Market Overview The US Dollar (USD) has gained strength following a robust jobs report last Friday, which forced EUR/USD to erase its weekly gains. Nonfarm Payrolls in the US rose by 272,000 in May, significantly surpassing the market expectation of 185,000 and April's increase of 165,000. This better-than-expected job growth has bolstered the USD, adding downward pressure on the EUR/USD pair. Technical Analysis 1. Oversold Conditions: The RSI indicator on the H4 timeframe points to oversold conditions, suggesting that the Euro might be due for a rebound. However, the current market sentiment is not supportive of a strong recovery. 2. Price Gap: The EUR/USD left a price gap between the 1.0780 and 1.0800 area. Market participants typically fill these gaps, indicating a potential upward movement to this range in the near term. 3. Fibonacci and RSI Divergence: The current price level is within a potential reversal zone based on Fibonacci retracement levels. Additionally, the RSI shows a divergence, which could signal a forthcoming bullish correction. Short-Term Outlook Despite the bearish sentiment, our outlook for EUR/USD is cautiously optimistic in the short term due to the technical indicators. With no significant economic news expected until Wednesday, the pair may experience low volatility, allowing for potential consolidation or a mild recovery. The key area to watch is the price gap at 1.0780-1.0800, which might be filled soon. Trading Strategy Given the current setup, a long position could be considered around the current levels. The oversold RSI and the price gap provide a basis for expecting a short-term reversal. Traders should monitor the 1.0780-1.0800 area closely, as filling this gap could offer a decent opportunity for gains. However, it's crucial to remain cautious and use appropriate risk management strategies, as the overall market sentiment remains risk-averse, and the strong USD could continue to exert pressure on the Euro.
Long
by FOREXN1
5
ECB speeches, Macron, and FOMC stir EUR/USD A high number of European Central Bank (ECB) officials are making public speeches in the 24 before the Fed rate decision this week Wednesday that could help or hinder the EUR/USD. Also, thrown in the mix now is French President Emmanuel Macron’s decision to call for a snap local election after the results of the EU Parliament elections, adding to market uncertainty. The EURUSD has extended to a 5-week low. 1.0700 could be the next target for the bears as the price has now moved into a swing area between 1.0718 and 1.0750. Perhaps the most important speeches will come from Luis de Guindos (Vice-President of the ECB), Philip R. Lane (ECB Executive Board member), and Claudia Buch (ECB Supervisory Board). Import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts direct to your inbox, enabling you to plan your positions in advance. Last week, the EU became the fourth Western economy to reduce its lending rate, announcing progress in tackling inflation. It lowered its main interest rate from a record high of 4% to 3.75%. Katherine Neiss, chief European economist at Prudential Investment Management, expressed "reasonable confidence" that the ECB would further cut rates over the summer or autumn, potentially bringing EU rates to 3.5% or lower by year-end. Investors will be closely analyzing the upcoming ECB speeches for any hints that support this prediction.
by BlackBull_Markets
EUR/USD Chart Analysis with Gap ConsiderationEUR/USD 4-Hour and 1D Chart Analysis with Gap Consideration Trend Analysis: - The 4-hour chart shows a clear downtrend, with lower highs and lower lows, indicating persistent bearish momentum. - The recent price action has been moving downward, suggesting continued selling pressure. Gap Analysis: - The chart indicates a potential gap in the price action, which typically occurs when there is a significant price movement between trading sessions. - Gaps often act as strong support or resistance levels, and prices tend to move back to "fill" the gap over time. Support and Resistance Levels: - Immediate Support Level: 1.0730, which is close to the current price and could provide some short-term support. - Next Support Level: 1.0700, which is a psychological level and has acted as support in the past. - Immediate Resistance Level: 1.0800, which is a recent high and could act as a barrier to upward movement. - Next Resistance Level: 1.0850, which is another key resistance level that was previously support. Technical Indicators: - The bearish candlesticks suggest continued downward pressure. - There are no immediate signs of a reversal in the price action, indicating that the downtrend may continue. Direction Preference: Given the current bearish trend and the lack of reversal signals, the preferred direction for EUR/USD FX:EURUSD in the short term is bearish. The price is likely to continue moving lower towards the support levels of 1.0730 and 1.0700. Gap Consideration: - If there is a gap in the price action, watch for a potential move to fill the gap. This could temporarily reverse the trend, but the overall bearish momentum suggests that the gap may not hold for long. - Monitor the price action closely if it approaches the gap area. A fill of the gap followed by continued bearish momentum could provide a good shorting opportunity. Conclusion: The EUR/USD 4-hour chart indicates a bearish trend with continued downward momentum. It is advisable to consider short positions, targeting the support levels at 1.0730 and 1.0700. However, keep an eye on any gaps in the price action as they may provide short-term support or resistance and a potential reversal area. The bearish trend remains the preferred direction, but gaps should be closely monitored for any significant impact on the price movement.
Short
by SroshMayi
Trading Signal For EURUSD Trading Setup: There is a Trading Signal to Sell in EURUSD Forex Signal (1h)Currency Pair. Traders can open their Sell Trades NOW ⬇️Sell Now or Sell on 1.0759 ⭕️SL@ 1.0786 🔵TP1@ 1.0666 🔵TP2@ 1.0624 🔵TP3@ 1.0581 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Short
by pullbacksignal
EURUSD The new Bearish Leg has started.On our last analysis EURUSD analysis (June 04, see chart below) we mentioned that it was a do-or-die moment for a rejection as it had marginally broken above the top (Lower Highs trend-line) of the 5-month Channel Down: As you can see the price did close all subsequent candles below the top and inside the pattern, hence confirming the rejection bias and that the downtrend was still intact. The last two strong bearish days, suggest that the new Bearish Leg has started, especially since yesterday's 1D candle closed below the 1D MA50 (red trend-line) for the first time in a month (since May 10). Our Target remains 1.06040 (Support 1), which is still a 'good case scenario' for the bearish event as it is above the % drop of the weakest Bearish Leg, the one right before the current (at -3.45%). Ideally, we expect to see the 4H MA200 (orange trend-line) being the Resistance throughout the whole Leg. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2