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EUR/USD: Market Anticipation Ahead of Key Economic ReportsAs the London trading session unfolds on Monday, the EUR/USD currency pair is hovering around the 1.0580 mark. Investors are gearing up for significant economic events this week, including the highly anticipated US Consumer Price Index (CPI) report for November, set to be released on Wednesday. In addition, the European Central Bank (ECB) will announce its interest rate decision on Thursday, making this week crucial for market participants seeking insights into future monetary policy shifts. From a technical standpoint, the EUR/USD has shown a lack of substantial movement over the past week, remaining firmly below the 1.0600 resistance level. Traders are closely watching how the currency pair interacts with this barrier, as it could dictate the next direction for the market. With speculation surrounding a potential interest rate cut from the Federal Reserve later this month, Wednesday's inflation figures may be the crucial factor influencing the Fed's decision. Analysts predict that the annual consumer price inflation will slightly increase to 2.7% year-over-year in November, up from 2.6% in October. Moreover, the core inflation rate, which excludes the often-volatile categories of food and energy, is anticipated to hold steady at 3.3% year-over-year. Given the current landscape, our strategy is to remain on the sidelines as we await the CPI data on Wednesday and the Unemployment Claims report on Thursday. While our overall bias leans bearish, we believe it is prudent to refrain from taking any positions until the price potentially approaches a significant demand zone. This approach allows for a more informed entry that aligns with market developments. In summary, the EUR/USD is at a critical juncture as investors anticipate key economic reports that could have lasting effects on the currency pair's trajectory. With the market sentiment leaning toward caution, all eyes will be on the data releases this week. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
EURUSD: Standard Channel Up targeting above the 4H MA200.EURUSD may have turned bearish today on its 1D technical outlook (RSI = 41.238, MACD = -0.005, ADX = 33.591) but 4H remains neutral as the pullback is the technical bearish wave of the Channel Up you see on the chart. The two bullish waves we've had so far have been exactly the same at +1.65% with the 4H RSI S1 Zone providing the most accurate buy entries. Consequently, this is now the best level to go long and target a crossing over the 4H MA200 on another +1.65% bullish wave (TP = 1.06675). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
Euro can rebound up to 1.0700 level, exiting from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago started to decline inside the downward pennant, where it at once rebounded from the resistance line and fell to the 1.0700 level, which coincided with the seller zone. Then EUR tried to grow, but failed and in a short time declined below the 1.0700 level, breaking it. Next, the price continued to decline and later almost reached the support level, after which turned around and some time traded a little higher at this level, but didn't fall to it. Later, the rice dropped below the 1.0485 level, which coincided with the buyer zone, breaking it and reaching the support line of the downward pennant, after which started to grow and made a gap. After this movement, the Euro broke the 1.0485 support level one more time and made a retest. Next, it little grew, after which made a correction to the support level and then rose to the resistance line of the pennant. But a not long time ago, the price fell to the support line and now it trying to grow. For this case, I think that the price can correct to the support line and then rebound up to 1.0700 resistance level, thereby exiting from the pennant pattern. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
+180/+360 pips GBPCAD Swing trade setup🔸Hello traders, let's review the H4 chart for GBPCAD today. Trading near premium prices of the multiweek range, closing in on heavy S/R Currently risk/reward is shifting in bears favor, so it's recommended to look for sell side setups in this market. 🔸Bearish OB / fresh liquidity set at 8095/8125. Price structure indicates potential incoming reversal once we trigger the OB. 🔸Recommended strategy for GBPCAD traders: focus on short selling any rips/rallies near OB 8095/8125 price is currently trading near premium levels and is maxed out already, limited upside. TP1 bears +180 TP2 bears +360 pips final exit 7750 keep in mind this is a swing trade setup so naturally will take more time to complete / hit both targets. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Short
by ProjectSyndicate
25
+140 pips The Best Level to BUY/HOLD EURUSD swing trade🔸Hello traders, let's review the 1hour chart for EURUSD today. Overall, strong price chart with sequence of higher lows in progress. 🔸Clearly defined set of overhead resistances and supports below market price with liquidity distributed equally among buy side and sell side order blocks. 🔸Primary pattern / structure is 3 drives in progress, expecting a final pullback to trigger OB liquidity at/near 0510/0520 before bullish reaction and final push (3rd drive). 🔸Recommended strategy for EURUSD traders:no trade recommended at current price, however bulls should enter BUY/HOLD at/near 0510/0520 SL 30 pips TP1 +70 TP2 +140 final exit at 0640. Bears should wait for further updates and get ready to short from sell side order blocks near 0640/0660 S/R zone. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Long
by ProjectSyndicate
9
EURUSD Crucial test on the 4H MA200. Bullish if broken.The EURUSD pair has been trading within a Bearish Megaphone since the September 30 High, which is technically the Bearish Leg of the long-term Channel Down pattern, which we saw on our previous analysis. Having found support on the 4H MA50 (blue trend-line), the pair appears to be attempting another test on the 4H MA200 (orange trend-line), which rejected the last Lower High (November 05) and has been intact since October 01, making it practically the basic long-term Resistance. As a result, if the 4H MA200 breaks, the top (Lower Highs trend-line) of the Bearish Megaphone should follow too, which will cause a technical medium-term break-out. Our Target is the 0.618 Fibonacci retracement level at 1.08765. You may use the Higher Lows trend-line as an additional tool to determine if the break-out will be successful as last time (November 05) the failed to hold and caused the new Bearish Low of the Megaphone. Similar analogy with the 4H RSI Higher Lows trend-line. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURO - Price can enter to resistance area and then start to fallHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price declined inside falling channel, where it bounced from $1.0580 level and fell to $1.0460 level. Then price broke this level and fell to $1.0330 points, thereby exiting from channel, but then it made upward impulse. Also, Euro made a first gap, after which started to trades inside flat, where it at once made retest and started to grow. Price rose to $1.0580 level, some time traded near, and then dropped to support level, making a second gap. Next, price in a short time rose back to resistance level, made a fake breakout, and now trades below in flat. Possibly, Euro can enter to resistance area again and then start to decline to $1.0500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
2
HelenP. I Euro will drop below support level, breaking itHi folks today I'm prepared for you Euro analytics. In the chart, we can see how the price some time ago rose to the trend line, after which started to decline. In a short time, the price dropped to the resistance level, which coincided with the resistance zone, and later broke this level, after which it declined and little more and then tried to back up. Also, the Euro made a first gap, after which reached the trend line in the resistance zone and then dropped, breaking the 1.0900 level again. Next, the price continued to decline inside the triangle form, where it fell to the support level, which coincided with the support zone. Later Euro broke this level and declined to 1.0325 points, but at once turned around, made a second gap, and broke the 1.0520 level again. After this, the price some time traded between this level, but now it rising higher than it. For this case, I expect that EURUSD will rise more and then drop below a support level, breaking it one more time. That's why I set my goal at 1.0420 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
7
EUR/USD Remains Cautious: Traders Await US Payrolls DataThe EUR/USD currency pair remains cautious as it trades below the 1.0600 level during the European session on Friday, just shy of a previous resistance zone. The US Dollar is maintaining its stability, supported by profit-taking and a subdued risk appetite among investors. Market participants are hesitant to commit to new positions ahead of the pivotal US Nonfarm Payrolls report, which includes key indicators such as Average Hourly Earnings, Non-Farm Employment Change, and the Unemployment Rate. The day's events are significant and will likely influence the direction of the DXY index as we approach the new week. From a technical perspective, the price remains under the 1.0600 resistance level. The latest Commitment of Traders (COT) report indicates a shift in retailer positioning towards a bullish sentiment, while non-commercial traders continue to display a bearish outlook. Currently, we are refraining from taking any positions. However, we maintain a bearish bias and anticipate a potential decline that could retest the 1.0400 zone or even extend lower. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
Fundamental Market Analysis for December 06, 2024 EURUSDEUR/USD is declining to 1.0575 at the start of the European session on Friday. Concerns over US tariffs on European goods and rising bets on interest rate cuts by the European Central Bank (ECB) are weighing on the Euro against the US Dollar. This Friday, the US Non-Farm Payrolls (NFP) data will take center stage. The single currency remains on the defensive as traders are concerned about potential tariff policies on all goods imported into the US, which could undermine the Eurozone economy. In addition, the ECB is widely expected to cut the interest rate at its last monetary policy meeting of the year. All but two of the 75 economists surveyed believe the ECB will cut the deposit rate by 25 basis points (bps) on Dec. 12. On Thursday, French President Emmanuel Macron said he would appoint a new prime minister in the coming days, with the top priority being parliament's passage of the 2025 budget. Any signs of political uncertainty in France could contribute to the euro's decline. Abroad, the expectation that the Federal Reserve (Fed) will reduce borrowing costs at its December meeting could put pressure on the dollar and limit EUR/USD's decline. Markets now estimate the probability that the central bank will cut rates by a quarter point at its December 17-18 meeting at 70.1%. Trade recommendation: Watch the level of 1.0570, when fixing below consider Sell positions, when rebounding consider Buy positions.
by Fresh-Forexcast2004
Euro can make retest of support line and then continue move upHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some days ago started to decline inside the range, where it in a short time fell to the resistance level, which coincided with the seller zone with the bottom part of the range. Next, the price turned around and quickly rose to the top part of the range, making a first gap, after which turned around and made impulse down, thereby exiting from the range and breaking the 1.0760 level. Then the price tried to back up, but it made a fake breakout of 1.0760 level and then continued to fall inside the downward pennant. Later, the Euro fell to the support level, which coincided with the buyer zone and broke it too, after which declined to support line of the pennant. Then the price made an upward impulse, thereby making a second gap, after which broke the 1.0480 level one more time and continued to move up. Some time later Euro reached the resistance line of the pennant, after which made a correction to the support level, but a not long time ago it rebounded up, thereby exiting from the pennant pattern. Now I think that the Euro can make a retest, after exiting from the pennant and then continue to move up. For this reason, I set my TP at 1.0680 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
EURO - Price can bounce down from resistance area to $1.0385Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few days ago price bounced from $1.1000 level and rose to $1.1205 points, after which turned around. Then price started to decline inside falling channel, where it at once reached and broke $1.1000 level. After this, EUR fell to support line of falling channel, and then bounced and rose to resisatnce line, making a first gap. Price made downward impulse, thereby exiting from channel and starting to trades inside flat, breaking $1.0585 level too. In flat, Euro fell to bottom part but then turned around, made a second gap, and now trades close to $1.0585 level. In my mind, Euro can enter to resistance area and then start to decline to $1.0385, which coincides with bottom part of flat. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
10
EURUSD Inverse Head and Shoulders to 1.08500EURUSD has formed an Inverse Head and Shoulders pattern, confirming the bottom of the long term bearish sequence. The right shoulders is about to be completed and there is no better time to buy than now. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.08500 (marginally under the 2.0 Fibonacci extension) Tips: 1. The RSI (1d) crossed above its MA on Nov 25th, confirming the transition from long term bearish to a bullish trend. This supports our 2.0 Fib target. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
4
EUR/USD – Weak Start to the WeekEUR/USD – Weak Start to the Week The EUR/USD pair began the week with declines, driven by macroeconomic data releases and political tensions within the eurozone. --- Macroeconomic Data Impact On Monday, the final reading of the **HCOB Manufacturing PMI** for the eurozone in November was released, showing a figure of **45.2**, in line with expectations. This continues to signal weakness in the industrial sector, contributing to euro depreciation. --- Political Issues in France Political turbulence in France further weighed on the euro. Key developments included: - Budget Dispute: Prime Minister Michel Barnier faced potential no-confidence votes as the far-right National Rally (RN) party, led by Marine Le Pen, threatened to oppose the government’s budget proposal. - Concessions: The French government dropped plans to reduce medication reimbursements to secure RN support. - Market Reaction: French bond yields rose, with the 10-year yield briefly surpassing Greece’s. The CAC 40 stock index fell 1.1% in early trading. --- ECB Comments Statements from European Central Bank members also hinted at potential monetary easing: - Olli Rehn** and **Yannis Stournaras suggested further rate cuts are likely in December due to persistent inflation concerns. - Martin Kazaks mentioned the possibility of discussing larger rate cuts, though he acknowledged significant uncertainty. --- Seasonality and EUR/USD Historically, December has been a favorable month for the euro against the dollar, driven by reduced market liquidity and year-end position adjustments. However, under the current market conditions, with weak eurozone data and robust U.S. performance, seasonality may not be sufficient to reverse the prevailing bearish trend for EUR/USD. --- USD Stability The U.S. dollar remains relatively stable, supported by strong macroeconomic fundamentals and comments from Federal Reserve officials. - Fed Officials’ Remarks : - John Williams: The NY Fed President noted that monetary policy remains restrictive and emphasized data dependence. He expects inflation to gradually decline to 2% and forecasts U.S. GDP growth of around 2.5% in 2024. - Christopher Waller: The Fed Governor expressed support for a December rate cut, citing a balanced labor market and concerns about inflation stagnating above 2%. - Raphael Bostic: The Atlanta Fed President stated that inflation is on track to reach the 2% target and emphasized the strong footing of the U.S. economy while remaining open to future policy adjustments. - U.S. Economic Data : - ISM Manufacturing PMI (November): Increased to 48.4, above expectations but still indicating contraction. - Construction Spending (October): Rose by 0.4%. --- Outlook for EUR/USD Despite last week’s gains, the long-term trend for EUR/USD remains bearish. The eurozone's economic data continues to underperform, adding pressure on the ECB to accelerate rate cuts. Meanwhile, the U.S. economy is on a stable path toward a "soft landing," supported by strong labor markets and steady growth. While seasonal factors might provide temporary support for the euro, the current market dynamics suggest limited potential for sustained EUR/USD appreciation.
Short
by InvestMate
2
EURUSD: Inverse Head and Shoulders buy signal.EURUSD is bearish on its 4H technical outlook (RSI = 38.974, MACD = 0.000, ADX = 37.510) as it continues to trade near the bottom of the long term Channel Down. At the same time its low made contact with the bottom of the Bearish Megaphone. Technically that formed the Head of an Inverse Head and Shoulders. The standard target for this pattern is the 2.0 Fibonacci extension. That is our target (TP = 1.08630). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Euro will start to grow to resistance line of upward channelHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price a few moments ago price started to decline inside the downward channel, where it at once broke the 1.0600 level and fell to the support line. Then EUR turned around and rebounded back to the resistance level and even entered to seller zone, where it reached the resistance line of the channel, after which turned around and dropped back to the support line. Soon, the price broke the 1.0465 support level and dropped to 1.0330 points, but soon it made impulse up, making a first gap, after which broke the 1.0465 support level one more time. Also, the price started to grow inside the upward channel, where it declined to the buyer zone, after which bounced and rose to the resistance line. Next, EUR almost reached the resistance level, and then turned around and in a short time declined to support line of the upward channel, making a second gap. So, now I think that the price can start to grow to the resistance level, and when it reaches this level, the price will break it. Then Euro can make a retest and continue to move up to the resistance line of the upward channel. That's why I set two TP: 1st at the 1.0600 level and 2nd at the 1.0700 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
EURUSD Once in a year buy opportunity about to run out.Last week (November 25, see chart below) we gave an ultimate buy call on the EURUSD pair as the price pierced through the 1.5 year Channel Down and immediately rebounded: As you can see, that was the absolute bottom of the pattern, its technical Lower Low, which happened last time more than 1 year ago, on October 03 2023. The 1-week rally that followed is on a pull-back today as the new week opened and based on the previous two Lower Lows, this might be the final one, i.e. the last buy opportunity we will get before multi-week rally. More specifically and as far as the October 2023 bottom is concerned, we are on the 1W RSI rebound similar to the week of October 23 2023. At the same time, this matches being on the 1W MACD's 2nd straight pink histogram bar. This indicates that this could be the last red week before the rally. Our Target remains intact at 1.08765, exactly on the 0.618 Fibonacci retracement level (similar to the November 2023 Fib test). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
EUR/USD Under Pressure Amid Key Economic EventsThe EUR/USD pair began the week with notable selling pressure, trading near the 1.0500 level at the time of writing. The Asian session opened with a bearish gap that remains uncovered, with the pair declining by nearly 75 pips so far. Market participants are closely watching upcoming events, including a speech by European Central Bank (ECB) President Christine Lagarde and the release of the US ISM Manufacturing Purchasing Managers' Index (PMI) later today. Technical Outlook From a technical perspective, the pair’s downward momentum aligns with earlier forecasts, suggesting a potential move toward the next demand zone around 1.0100 in the coming sessions. Commitment of Traders (COT) Analysis Recent COT reports reveal that retail traders have increased long positions in the pair, while non-commercial entities remain bearish. This divergence highlights contrasting market expectations. A strong ISM Manufacturing PMI reading could amplify the pair’s downward trajectory, further pressuring the euro. As the market digests these developments, traders should remain cautious and adapt strategies based on upcoming economic data and central bank commentary. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
3