EUR
EURUSD expected to rebound on an oversold 1D RSI.The EURUSD pair made a straight hit on our 1.08350 Target (September 23 idea, see chart below) following the 1.12000 Double Top rejection:
Right now the price sits below the 1D MA200 (orange trend-line), having failed to recover it in the past 2 days. This is however the 0.618 Fibonacci retracement level from the last Low, which is where the February 14 2024 correction reversed.
At the same time, the 1D RSI turned oversold last Thursday, which is an even bigger bullish indication. For the past 2 years (since September 27 2022), every time the RSI got oversold (below 30.00), it was a very strong buy signal as the price reversed.
On the February 14 Low it reversed to the 0.618 Fib (blue), so currently our minimum target on this buy opportunity is 1.10550.
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EURUSD - Macro View...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 EURUSD has been overall bullish, trading inside the flat rising channel in blue.
Moreover, it is approaching a demand zone marked in green.
🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the demand zone and lower blue trendline acting as a non-horizontal support.
📚 As per my trading style:
As #EURUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Heading into 61.8% Fibonacci resistance?EUR/CAD is rising towards the resistance level which is a pullback resistance that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.50030
Why we like it:
There is a pullback resistance that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.50776
Why we like it:
There is a pullback resistance level.
Take profit: 1.49549
Why we like it:
There is a pullback support level.
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Bearish reversal?The Fiber (EUR/USD) is rising towards the pivot point which is a pullback resistance and could reverse to the 1st support level which acts as an overlap support.
Pivot: 1.0896
1st Support: 1.0834
1st Resistance: 1.0955
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.
EUR/USD Eyeing Key Resistance Zones for BreakoutEUR/USD has been on a steady upward trajectory, supported by a clear trendline that has provided consistent buying interest. The current structure indicates a potential bullish continuation after a brief consolidation or pullback.
The pair is now targeting key resistance levels at 1.09012 and 1.09365. The first challenge for the bulls is breaking through 1.09012, a strong resistance that has been tested previously. A successful breach of this level could lead to a rapid move towards the major resistance at 1.09365.
The chart suggests that any retracement towards the trendline or the dashed horizontal support will likely attract more buyers, offering a high-probability setup for further upside. Should this retracement occur, buyers might seek opportunities near 1.08552 before attempting another push higher.
If the price breaks above 1.09365, we could see a continuation of the broader bullish trend, potentially heading towards 1.1000 or higher. However, failure to maintain the upward momentum around these key resistance levels could lead to a deeper correction.
We should watch for price action around 1.09012 for confirmation of a breakout, while keeping an eye on the trendline as a guide for support.
EURUSD 20/10/24Following the bias we had on the Euro last week, the same outlook remains in place. Our high time frame bias on the daily chart is clearly bearish, supported by a strong downward movement. All the indicators are aligning with further price declines, and as you can see, the institutional trajectory is also pointing lower.
We are looking for a potential pullback to the supply area, where we would consider selling to target lower prices. This area is marked on our chart. If price breaks through the supply zone, we would then expect a rise towards some of the liquidity positioned above. However, if price does not break through and continues to drop, the next level we anticipate price stalling at is 1.08000, a key level that could serve as liquidity for the last low placed on the daily timeframe.
As always, our markup is kept simple to help you stay on the right side of the market without overcomplicating things. Remember, a straightforward system can still provide a consistent directional bias. You don't need a complex strategy to achieve this.
Trade safely, follow your plan, and stick to your risk management.
EURO - Price can make retest, after exiting, and continue growHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A few moments ago price entered to rising channel, where it reached $1.1080 level and broke it.
Then price some time rising in channel, until it reached resistance line, after which price started to decline.
In a short time, EUR exited from rising channel and continued to decline inside wedge, where it soo broke $1.1080 level.
Later, price fell to support line of wedge and then tried to grow, but failed and continued to decline.
After this, Euro broke $1.0905 level and fell to support line, but recently price bounced up, thereby exiting from wedge.
Now, I think that price can make a retest and then bounce up to $1.0940, thereby breaking resistance level.
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Further downside seems possible for EurAudHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
More downside might be coming on EA...bias will be to short.Unless it whips.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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EURO - Price can continue to decline inside falling channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to grow inside rising channel, where it soon broke 2-nd ($1.1090) resistance level.
After this movement, price some time traded between resistance line of channel and with resistance area.
And last time it bounced from resistance line and broke $1.1090 level, thereby exiting from rising channel too.
Next, price continued to move down inside falling channel, where it broke 1-st ($1.0950) resistance level recently.
Now price continues to fall near resistance line of channel, and I think Euro can rise a little higher resistance line.
Then price will turn around and continue to fall to $1.0760 support line of falling channel.
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EURCAD: Near the bottom of its Channel Down. Bullish.EURCAD is bearish on its 1D technical outlook (RSI = 42.446, MACD = -0.001, ADX = 21.257) as it is trading on the 3rd straight red 1D candle and is approaching the bottom of the 10 week Channel Down. The are more probabilities now to see a bullish reversal aimed at the top, so we turn bullish (TP = 1.51.300).
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EUR/USD Extends Decline Near 1.0850 Ahead of Key Economic DataThe EUR/USD pair extended its decline during the early Asian session on Thursday, hovering around the 1.0850 mark. The continued strength of the US Dollar (USD) has added selling pressure on the euro, as investors anticipate critical developments in both Europe and the United States. Notably, the European Central Bank (ECB) is expected to announce another interest rate cut during its monetary policy meeting today, which will play a pivotal role in shaping the near-term direction of the EUR/USD.
ECB Meeting and Rate Cut Expectations
The ECB meeting is a focal point for the market, with investors widely expecting another rate cut as the central bank attempts to stimulate the sluggish Eurozone economy. The ongoing monetary easing measures aim to address inflationary concerns and support economic growth in the region. A further reduction in interest rates would likely put additional pressure on the euro, especially against a strengthening dollar. Traders will be closely watching the tone of the ECB’s announcements, looking for any clues regarding future policy direction, which could set the stage for increased volatility in EUR/USD.
US Economic Data in Focus
In addition to the ECB's decision, the market’s attention will shift to the release of key economic data from the US later today. The USD Core Retail Sales (m/m), Retail Sales (m/m), and Unemployment Claims reports are set to inject volatility into USD-correlated currency pairs, particularly EUR/USD. These reports are crucial in assessing the overall health of the US economy, and stronger-than-expected figures could further bolster the USD, applying additional downward pressure on the euro.
Retail sales data will provide insight into consumer spending patterns, a key driver of US economic growth, while unemployment claims will shed light on labor market conditions. Should the data come in stronger than anticipated, it may reinforce expectations of a resilient US economy, prompting the Federal Reserve to maintain its hawkish stance on interest rates. Conversely, weaker data could weigh on the dollar and offer a temporary reprieve for EUR/USD.
Technical Outlook: Demand Zones in Focus
From a technical perspective, the EUR/USD is currently reacting to a previously identified demand area. While the pair has experienced selling pressure, the price could see a bullish reaction if the upcoming US data or the ECB meeting provide supportive conditions for the euro. In case of a positive outcome for the EUR after the news releases, we may consider opening a long position. However, the best entry point for a long trade remains within the lower demand zone, which offers stronger support and a more favorable risk-reward setup.
The Commitment of Traders (COT) report indicates a notable shift in market positioning. Retail traders have been increasing their short positions on the euro, while smart money (large institutional investors) has moved long on the currency. This positioning dynamic suggests the possibility of a reversal, as smart money often takes contrarian positions against retail traders. With the data releases and central bank decisions looming, today could present a long setup, especially if the market interprets the news favorably for the euro.
Conclusion
The EUR/USD continues to trade under pressure, driven by the strength of the USD and expectations surrounding the ECB’s upcoming monetary policy decision. As the day unfolds, the release of critical US economic data will further shape the pair’s direction, potentially adding volatility and creating opportunities for traders. While the euro remains under pressure, technical and positioning factors indicate that a bullish setup could emerge, particularly if the euro finds support in the lower demand zones or if the news flow turns in its favor. Traders are advised to exercise caution and patience, keeping a close eye on the upcoming data releases and market reactions before entering any positions.
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Bullish bounce off major pullback support?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 88% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.48952
Why we like it:
There is a pullback support level that aligns with the 88% Fibonacci retracement.
Stop loss: 1.48500
Why we like it:
There is a support level at the 88% Fibonacci retracement.
Take profit: 1.49680
Why we like it:
There is an overlap resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce?The Fiber (EUR/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Entry: 1.0835
1st Support: 1.0783
1st Resistance: 1.0895
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.
EURUSD📌 Trading Instrument: EUR/USD
🔶 Bullish Breakout with Strong Potential 🔶
📝 Market Overview:
After 16 days of consolidation, EUR/USD has finally broken out of the diagonal resistance, suggesting a bullish move ahead. I took a position just before the breakout, assessing the potential reward as extremely favorable compared to the risk. The trade has a remarkable Risk-Reward Ratio of 17.5:1, making it highly attractive even with a low initial risk.
The breakout is supported by triple bullish divergences, signaling a strong potential for upward momentum. Moreover, the market is currently trading near the 0.61 Fibonacci retracement level, a critical point often signaling reversals.
Additionally, we have a solid support zone just below, which has held firm for 750 days. The absence of any significant breakdown from this level strengthens the bullish case. If this support holds, it will continue to fuel the upward momentum. However, any breakdown here could signal a notable trend reversal, so I'm closely monitoring the price action.
Given these technical signals, I opted for a day trade with the potential to extend it through the week, depending on price movement and relevant news flow.
🎯 Trade Details:
Stop Loss (SL): Today’s low
Take Profit (TP): 1.09528
This trade leverages several technical signals:
Bullish divergence across multiple timeframes.
Holding near the 0.61 Fibonacci retracement level.
The strong support that has not broken for 750 days.
The lack of a breakdown further solidifies the bullish outlook, and if the breakout gains momentum, this could be a highly profitable setup.
🚨 Disclaimer:
This is not financial advice. Always conduct your own research and trade responsibly. Markets are highly volatile, and you should only invest money you are prepared to lose.
EURUSD hit the 1day MA200! Support or bearish break out?EURUSD hit today the 1day MA200 for the first time since August 2nd and its 1day RSI turned oversold for the first time since April 16th.
That is a very bearish development but market exhaustion and the need for a relief rally may hit the price just like it did on the August 25th 1day MA200 test.
We remain bearish as per our last trading plan but any rebound near the 1day MA50 will be an opportunity to open additional sells.
The target is intact at 1.07700 (Fibonacci 0.618).
Previous chart:
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Hours to Go: Will ECB Cut Rates? Hours to Go: Will ECB Cut Rates?
The euro zone economy flashed modest signs of life earlier this week, with a series of indicators suggesting tepid but still growing activity for a region that has narrowly avoided recession for over a year.
However, the numbers are possibly unlikely to deter the European Central Bank from moving forward with a rate cut on Friday, a decision that markets have nearly fully priced in as the countdown enters its final 24 hours.
Ahead of the decision, the EUR/USD is trading at its lowest since August 2, breaking below its 20-, 50-, 100-, and 200-day exponential moving averages. The key question: will the ECB’s rate cut provide much-needed support to the euro, or will sellers attempt to erase the gains from the August 2nd rally?
EURUSD to turnaround?EURUSD - 24H EXPIRY
Trades at the lowest level in 48 days.
Bespoke support is located at 1.0875.
We have a 78.6% Fibonacci pullback level of 1.0870 from 1.0778 to 1.1202.
Selling posted in Asia.
Dip buying offers good risk/reward.
The medium term bias is neutral.
We look to Buy at 1.0875 (stop at 1.0825)
Our profit targets will be 1.1037 and 1.1050
Resistance: 1.1008 / 1.1038 / 1.1050
Support: 1.0875 / 1.0870 / 1.0775
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.
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DreamAnalysis | EUR/USD Key Liquidity Levels Hit - What’s Next?✨ Today’s Focus: EUR/USD – A Market Mover
We’ll dive into the latest price movements and analyze key market levels to uncover potential trends.
🚨 Previous Analysis Recap:
In our last analysis, we anticipated a further drop after a reaction into the 4H imbalance. While the predicted decline occurred, the extent of the move exceeded our expectations.
📊 Current Market Overview:
The price has recently swept key liquidity levels, including the Previous Week Low (PWL) and Sell-Side Liquidity (SSL). Currently, the market is consolidating, a sign of liquidity building. At this stage, we’re watching for a deeper retracement or possibly a full reversal.
🔴 What to Expect: Short-Term vs Long-Term Scenarios
Here, we explore potential outcomes for both short-term and long-term, outlining both bullish and bearish possibilities for day trading.
🗣 Short-Term Outlook:
In the short term, a retracement toward internal liquidity levels, such as Low Resistance Buy-Side Liquidity (LBSL), and lower time frame imbalances (1H and 15m) is expected.
🗣 Long-Term Outlook:
The long-term scenario points to a possible expansion higher, targeting the Previous Week High (PWH), which aligns with a Bearish Fair Value Gap (FVG) on the weekly chart. However, beyond this point, further clarity is needed before determining if the price can continue higher.
🕓 Key Levels to Watch:
These critical levels could influence price action:
- PMH: Previous Month High
- PML: Previous Month Low
- PWH: Previous Week High
- PWL: Previous Week Low
- BSL: Buy-Side Liquidity
- SSL: Sell-Side Liquidity
- Daily FVG: Fair Value Gap (Imbalance zone)
These levels represent potential areas for liquidity grabs or market rebalancing. FVGs are zones where price may retrace before continuing its trend.
📈 Bullish Scenario:
A bullish setup could be identified on lower time frames (like the 15m), where a Market Structure Shift (MSS) with confluence would signal an entry. The target would be the Buy-Side Liquidity, as highlighted in the short-term outlook.
📉 Bearish Scenario:
For a bearish outlook, we require further confirmation on lower time frames. The focus would be on a continuation towards Sell-Side Liquidity, although identifying clear targets may be more challenging at this point.
📝 Conclusion:
Stay flexible as market conditions shift. Monitoring these critical levels and setups will enhance your strategy and help you identify high-probability trades.
🔮 Looking Ahead:
Stay tuned as we continue to track NASDAQ, DXY, EUR/USD, and other major markets. More timely insights will follow as trends develop.
⚠️ Disclaimer:
This analysis is for educational purposes only and not financial advice. Always do your own research and consult a licensed financial advisor before making any investment decisions.
Could the Fiber reverse from here?The price is falling towards the support level which is an overlap support that aligns with the 161.8% Fibonacci extension and could reverse from this level to our take profit.
Entry: 1.0877
Why we like it:
There is an overlap support level that aligns with the 161.8% Fibonacci extension.
Stop loss: 1.0835
Why we like it:
There is a pullback support level
Take profit: 1.0951
Why we like it:
There is an overlap resistance level that is slightly below the 23.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Sell EUR/CHF BreakoutThe EUR/CHF pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Wedge Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.9385
Target Levels:
1st Support – 0.9350
2nd Support – 0.9330
Stop-Loss: To manage risk, place a stop-loss order above 0.9410. This helps limit potential losses if the price falls back unexpectedly.
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EURUSD: Channel Down on 1H giving two trades.EURUSD is almost oversold on its 1D technical outlook (RSI = 30.958, MACD = -0.004, ADX = 45.308) as it has been on a non-stop decline, which is even more effectively displayed on the 1H chart. You can see the flawless Channel Down making -0.90% Bearish Waves and then pulling back to the 0.5 Fibonacci only to get rejected again under the 1H MA100. This gives a potential double trade, initally with a short now to complete the -0.90% wave (TP = 1.08555) and then long to the 0.5 Fib (TP = 1.09000).
See how our prior idea has worked out:
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