EURUSD POSSIBLE MOVEI have mentioned 2 entries for Euro_Dollar. One is intra-day short trade and the other is a long trade based on 1H TF. Wait for the price to get inducement in order to execute both entries.
Happy Trading
Eurodollar
EUR/USD Eyes 1.1200: Technical Momentum Fueled by Dovish Fed ExpEUR/USD Eyes 1.1200: Technical Momentum Fueled by Dovish Fed Expectations
In a striking ascent, the EUR/USD pair is surging towards the major resistance at the 1.1150 level, signaling a bullish momentum that aims to breach the psychological threshold of 1.1200. The Euro (EUR) maintains its winning streak, gaining ground against the subdued US Dollar (USD). This favorable trend is largely attributed to the anticipated dovish stance of the US Federal Reserve (Fed) concerning the future trajectory of interest rates.
Dovish Fed Expectations:
Building on our previous analysis, the EUR's upward trajectory appears to be continuing, supported by a combination of factors. The market sentiment is influenced by the expectation that the Federal Reserve (Fed) may adopt a dovish stance on interest rates in the coming year. With US yields trending lower and market participants anticipating rate cuts, the US Dollar faces headwinds. Concurrently, equity prices remain near recent highs, contributing to the sustained pressure on the US Dollar, particularly in the context of holiday-thinned trading.
Upcoming Data and Holiday Impact:
Amid the holiday season, Wednesday saw no significant reports, setting the stage for Thursday's focus on the US weekly Jobless Claims. Additionally, attention will be directed towards Spain's preliminary inflation figures for December, set to be released on Friday.
Looking Ahead:
As the year 2023 draws to a close, the calm waters in the market continue to weigh on the US Dollar, offering further support to the EUR/USD pair's upward momentum. However, as markets transition back to normal functioning in the upcoming week, the focus will shift to crucial US employment data. The outcome of these economic indicators could potentially shape the currency landscape as the new year unfolds.
The EUR/USD pair's bullish trajectory towards 1.1200 is a testament to the prevailing market sentiment, driven by expectations of a dovish Federal Reserve. As the year concludes, the subdued US Dollar faces challenges, with the EUR maintaining its winning streak. Traders and investors will closely monitor upcoming economic data and the return to normal market conditions in the new year, as they seek to navigate the evolving dynamics of the currency markets.
Our preference
Long positions above 1.09500 with targets at 1.1150 & 1.1200 in extension.
EUR/USD Daily Chart Analysis For Week of Dec 22, 2023Technical Analysis and Outlook:
The Eurodollar has shown significant price movements throughout this week's trading session by surpassing our previously achieved Inner Currency Rally level of 1.099 and its corresponding resistance at the same price point. The current price action suggests that the Eurodollar will likely continue to climb, with the target level set at Inner Currency Rally 1.109. However, it is essential to stay alert to the ever-changing dynamics of the Eurodollar market, as the price action may experience a drawdown.
EUR/USD: A Steady Rise Amidst Global Market DynamicsEUR/USD's Bullish Momentum: A Steady Rise Amidst Global Market Dynamics
The EUR/USD currency pair recently experienced a surge in its value, reaching close to the significant 1.1000 mark before encountering a slight retracement. This move comes after a rebound from the 38.2% Fibonacci level, confirming our earlier forecast of a renewed bullish impulse.
As of the latest update, the pair is currently trading around the 1.09560 area, demonstrating a positive trend. The backdrop for this ascent includes a favorable opening in Wall Street and decreasing US Treasury bond yields. Despite the release of better-than-expected Housing Starts data, the USD struggled to find traction, reflecting the impact of global market dynamics on currency valuations.
An additional factor influencing recent market movements is the soft inflation data from the UK, reigniting expectations for a potential Bank of England rate cut in the first half of the upcoming year. This development led to significant losses for the Pound Sterling against other major currencies. While the USD did absorb some capital outflows, the Euro stood out as an attractive option for investors, leading to EUR/GBP achieving a fresh three-week high above 0.8650.
Looking ahead, the scheduled speech by the Chicago Federal Reserve (Fed) President in the latter part of the day could introduce further dynamics to the currency markets.
Maintaining our bullish bias, we anticipate a continuation of the positive trend, especially considering the supportive factors in the global financial landscape. The pair's recent retracement could be viewed as a temporary pause before another potential climb towards our targeted levels. Investors will be keenly observing further market developments and central bank actions to gauge the future trajectory of EUR/USD.
Our preference
Long positions above 1.0800 with targets at 1.1010 & 1.1150 in extension.
Our previous Entry / Idea :
🗺️EURUSD Roadmap🗺️🏃 EURUSD is moving near the 🔴 Heavy Resistance zone($1.11850-$1.0980) 🔴,the Resistance lines .
🌊According to Elliott wave theory , EURUSD is completing Corrective Waves in the 1-hour time frame.
🌊The structure of correction waves is Zigzag(ABC/5-3-5) type.
🔔I expect EURUSD to start falling to 🎯 Target 🎯, 🟢 Support zone($1.0800-$1.0756) 🟢 and Uptrend line .
Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short Euro...EURUSD firmed a wedge top at first and a double top after that and ready to goes down again.
Trade safe.
Good luck.
EURUSD Pair Projections for Q1, Q2, and Q3 2024Financial Analysis: EURUSD Pair Projections for Q1, Q2, and Q3 2024
Disclaimer : This analysis is based on the information available as of the provided date and is subject to change. It should not be considered as financial advice. Readers are encouraged to conduct their own research before making investment decisions.
Ifo Report and Current Business Climate
The recent Ifo report reflects a clouded sentiment in the German business landscape, with companies expressing dissatisfaction with their current business situations and heightened skepticism regarding the first half of 2024. Notably:
Manufacturing
The Business Climate Index in manufacturing witnessed a noticeable decline, with companies perceiving their current business situation as significantly worse.
Expectations in the manufacturing sector grew more pessimistic, particularly affecting energy-intensive industries.
Service Sector
The service sector experienced a slight improvement in the business climate, driven by increased satisfaction with current business situations.
Service providers displayed reduced skepticism about the outlook for the next six months, although expectations in restaurants and catering saw a nosedive.
Trade
The trade sector suffered a setback, as companies assessed their current situations as notably worse. Holiday trade for retailers, in particular, disappointed.
Construction
The Business Climate Index in construction hit its lowest level since September 2005, with companies reporting a worsened current situation. Approximately half of the companies anticipate further deterioration in the months ahead.
Projections for EURUSD in Q1, Q2, and Q3
The Ifo report's insights into the German business sentiment set the stage for assessing the FX:EURUSD pair's projections:
Q1: Sluggish Momentum
The current scenario suggests a sluggish start for EURUSD in Q1. The clouded business sentiment in Germany may contribute to a sideways market, marked by cautious trading.
Q2: Anticipating Improvement
As Q2 unfolds, there is an expectation of an improvement in the financial situation in Europe. Despite the challenging Q1, signs of stabilization and potential positive developments could influence a more favorable outlook for the EURUSD pair.
Q3: Inverse Head & Shoulders Pattern
An analysis of the larger fractal, specifically the Inverse Head & Shoulders pattern forming in the EURUSD pair, points towards robust bullish momentum. This projection aligns with a potential turnaround by the end of Q2 and the beginning of Q3, indicating a shift towards a more positive market sentiment.
Conclusion
In conclusion, the EURUSD pair is likely to face challenges in the early part of 2024, reflecting the clouded sentiment in the German business landscape. However, signs of improvement are anticipated in Q2, with the formation of an Inverse Head & Shoulders pattern suggesting a strong bullish momentum in the currency pair by the end of Q2 and the beginning of Q3. Traders and investors should closely monitor economic indicators, global events, and the evolving business climate for timely decision-making in the dynamic forex market.
EURUSD strong downtrend signalOANDA:EURUSD signals a potential short opportunity within two promising supply zones. With the emergence of reversal setups, considering a short position is viable.
EUR/USD Daily Chart Analysis For Week of Dec 15, 2023Technical Analysis and Outlook:
The Eurodollar currency pair has shown a strong rebound in the recent trading session, climbing to reach our previously identified Inner Currency Rally level of 1.099. However, this was followed by a sharp reversal, with the price dropping rapidly. The current price action indicates that the Eurodollar is likely to continue on a downward trend, with the designated target levels being Mean Sup 1.075 and Inner Currency Dip of 1.068.
Overall, it's crucial to stay vigilant and informed about the ever-changing dynamics of the Eurodollar market to make the most of the opportunities it presents.
Short Video Conclusion On EUR's Retracement ☄️Short Video Conclusion On EUR's Retracement
Video Content:
Dear Viewers, it was one of my first EURUSD video analytics. On TradingView, you can see a verified timestamp of 01 December. You might also remember the original video when I shared the signal.
I'm happy to announce the idea completed its Target Price. Your profit is the difference between these two levels. It's about two and seven percent. With a $100k investment, the trade returned $2700. The price has been consistently following the expected trajectory. So, we can't talk about about any significant drawdown.
I thank you for your attention, and congratulations if you share a similarly profitable vision.
Market Devlelopment:
I still have a bearish vision on EURUSD. I expect yield seeking on USD can pressure the EUR price as down as $1.067. I believe that trendlines in the video are still valid. I wouldn't open a short here, but I'll keep the short I already have extended with a trail profit, which was my stop loss I moved down as the price smoothly followed the expected trajectory. I consider it as a take profit because the trail profit will close the position any moment. However, I can't tell the exact price yet because the bearish outlook persists. It's either +2.7% or more.
Beyond Video:
It is not an investment advice. Do your research. Do not trade if you do not understand.
- Ely
EUR/USD Daily Chart Analysis For Week of Dec 8, 2023Technical Analysis and Outlook:
Last week's completion of our Inner Currency Rally of 1.099 continued to drop to strategic Mean Sup 1.084 and is on its way to a significant Mean Sup 1.067 and Inner Currency Dip 1.068 outcome. The current price action suggests a rebound from the letter prices to the designated target Mean Res 1.080. Overall, it is essential to closely monitor the Eurodollar market trend and take appropriate measures within critical price action of the support/resistance and dip result.
Eurusd November 23' ☄️Hey All. Thanks for stopping by to check out the Analysis.
Eurusd is approaching the top side of the range (1.1022) and so we must be aware, as we move out of November, that long orders from here may not be the best idea. I know there are traders who are long from the bottom of the range (1.05705) and you don't think they are thinking of taking a 300 pips profit? Anyways cheers and please leave youyr feedback below.
An AI Analytics - 💶 EURUSD Trajectory: Bullish Market Dynamics💶 Fellow TradingView Community,
I n the ever-changing landscape of forex trading, the EURUSD pair has been displaying notable advancements, aligning with our earlier forecasts. In recent weeks, the Euro has demonstrated formidable resilience against the US Dollar, achieving its most elevated weekly closing position since August. This upward momentum can be attributed to various elements, encompassing increased bond yields and a diverse market sentiment, bolstering the US dollar throughout the trading sessions.
I n the short term, our analysis suggests a continued potential for the EURUSD cross rate to ascend further. Contributing to this outlook are weaker-than-expected US economic data and an overall positive risk appetite in the market. However, it's crucial to acknowledge the presence of escalating political tensions, introducing an element of risk to our short-term projection for a weaker USD.
A s we delve into the technical aspects, the current price positions itself above the support/resistance structure, and efforts are underway to breach the short-term trendline. A successful break above this trendline could pave the way for a higher trajectory, with a bullish target of 1.102, marked by the upper purple box on the chart.
H owever, it's important to temper expectations; a parabolic trajectory to the target is not a given. Beneath the 1.102 target lies the 1.096 resistance, serving as a potential subsequent target in a bullish scenario. Anticipating potential market retracements, we identify possible correction levels, such as retracing towards the support at 1.065 or a pullback towards the current price before reaching the 1.096 target.
I n the midst of these potential scenarios, the overarching bullish trend remains a key consideration. Retracements, while natural in market dynamics, present favorable Risk-Reward Ratios for initiating new positions. On the chart, a long position initiated on October 23rd has been projected into the future, indicating scaling potential. In the event of a retracement and the persistence of a bullish trend, additional positions may be added around the 1.066 level.
C aution is warranted, and risk management is integral. The red zone around 1.064 signifies a potential stop loss level, aiming to break even on the mentioned positions. Despite these considerations, no position closures are currently under consideration, given the potential longevity of the bullish trend.
As we navigate these market dynamics, the key lies in adaptability and a keen understanding of the nuanced factors shaping the EURUSD trajectory. The path ahead may hold retracements, yet within them lies the opportunity for strategic positioning and scaling in line with the prevailing bullish sentiment.
This is not intended as investment advice. The presented idea solely represents a personal opinion, and I do not provide any assurance that the chart forecasts future outcomes. It is crucial to conduct your research, uphold your responsibility, and feel at liberty to glean insights from the information I have shared.
Kind regards,
Ely
EURUSD : FOREX Edu for DayTraders 📉Hi Traders, Investors and Speculators of Charts📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫
For the biggest part, I prefer to trade reactive rather than predictive. Chart patterns really come in handy with this strategy. Here are my top easy to spot chart patterns, specifically focused on bullish chart patterns today. The green highlight dots are to help identify the margins of the pattern and the purple highlighted dot is where entry can be taken. Please enjoy this free educational gold nugget !
Are you also trading crypto? Check out this altcoin idea with bullish upside potential :
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Relief Rally ↗️ with Inflation Data as Catalyst 💡This is a trade Idea inspired by this past week's bullish pin bar candle closure. The NFP and Inflation data catlyst for a higher timeframe pullback also supports this. Expected reduction in inflation from 3.7% Yoy to 3.6% Yoy during this week's news release also supports this. Two weekly candles holding/closing above 1.054-1.057 supports this. Flipping to Bullish Market structure on the Daily timeframe supports this. We have many confluences and you see the point.
EUR/USD -28/11/2023-∙ EUR/USD bulls in charge after series of dismal economical data in the US which pushed investors and markets to believe that high inflation and rate hikes cycle are behind
∙ Triple bottom around 1.05 (bullish reversal)
∙ Today price pushed through 61.8% Fibonacci level of the summer decline (bullish)
∙ Buyers are approaching critical resistance levels which will test their commitment
∙ First resistance is the descending trend line near 1.11 followed by 200 SMA at 1.115 and yearly highs at 1.1260-70
EUR/USD Daily Chart Analysis For Week of Nov 24, 2023Technical Analysis and Outlook:
After a pullback, the Eurodollar aims for our designated target, Inner Currency Rally 1.099. This comes after the currency repeatedly hit strong Key Res 1.092 in this week's price action. This suggests that the Eurodollar may experience an imminent rally to Inner Currency Rally 1.099 in this upcoming session, potentially bringing it to a primary pivotal squeeze with an extension all the way to Mean Sup 1.087.
Shorting the EuroTrendCloud is showing an extended trend on the 4 hour chart.
This means that we should see price pull back below the 50 SMA to recalculate.
The one hour chart is in a downtrend and CCI has gone below -100. This indicates strong momentum to the downside as its approaching the 15 minute supply zone.
We might have enough momentum for another push down once the 15 minute supply zone is hit.
Analyzing Potential EUR Movements: Channel Pattern SVM OverviewD ear Esteemed TradingView Community,
I trust this idea finds you well. In the intricate world of trading, where decisions are often rooted in data and analysis, I'd like to share my recent findings regarding the EURUSD market. Please note that this is not financial advice but rather a reflection of my analytical perspective.
In October, my focus zeroed in on a noteworthy development in the EUR market: the emergence of a demand zone around the $1.05 level. Leveraging advanced tools like AI and Kernel SVMs, I identified this zone as pivotal support, opening the door to intriguing possibilities for both short and long positions.
The demand zone, acting as a robust support, fueled a successful long trade as the price reached the projected target. However, the current scenario introduces the prospect of a short position, with potential entry points highlighted by the bottom purple line, a resistance level identified by SVMs.
As we navigate the intricate dance between support and resistance, it's crucial to acknowledge the uncertainty inherent in market dynamics. The potential breakout from the resistance is not guaranteed, and the price might trace its steps back, especially if it encounters resistance at the identified purple line. In the event of a reversal, the previous long entry point (demand zone) could serve as a short target.
Bearish scenarios envision the price consolidating below the resistance, possibly entering a downtrend. Yet, the journey to the demand zone may not be immediate, as additional chart patterns could manifest between the resistance and the demand zone, either reinforcing or challenging the short thesis.
A significant surge in sell volume on 13-14 November raises the probability of a bearish scenario. This surge, aligned with the preceding rally, suggests a potential exit strategy for investors capitalizing on heightened market activity. The existence of a parallel resistance trendline, derived from historical peaks, adds another layer of complexity to the analysis.
While indications of a breakout are not definitive, the possibility of the price returning to the rising channel between trendlines cannot be dismissed, especially considering the impact of unforeseen news events. Though technically less probable, the practice of markets often defies technical norms.
In conclusion, I've marked this analysis as 'short,' considering the potential bearish patterns associated with rising channels. However, it's essential to approach these insights with a discerning eye, recognizing the dynamic nature of financial markets. Your attention to these nuances is greatly appreciated.
Kind Regards,
Ely
EUR/USD Faces Retracement Amidst Economic UncertaintiesEUR/USD Faces Retracement Amidst Economic Uncertainties
The EUR/USD pair experienced a notable decline on Tuesday, retracing from its recent three-month high at 1.0965, marking the 61.8% Fibonacci level from the daily swing. The retracement has set a target of approximately 1.0830, with a potential extension down to 1.0780, aiming to fill the Value gap created by last week's economic news impact.
The fall in the EUR/USD was influenced by the release of US data on Tuesday, revealing a larger-than-expected decline in Existing Home Sales for October, reaching an annual rate of 3.7 million against the anticipated 3.9 million. Looking ahead, key economic indicators, including the weekly Jobless Claims, Durable Goods Orders, and the final reading of University of Michigan Consumer Sentiment, are set to be released on Wednesday.
Despite these economic uncertainties, the FOMC minutes released on Tuesday provided little new information. Members of the Federal Reserve expressed ongoing concerns about inflation, emphasizing the possibility of further tightening if progress in curbing inflation proves insufficient. However, market reactions indicated a lack of significant response to the minutes.
In light of the economic landscape and the prevailing uncertainties, the EUR/USD pair appears poised for a deep retracement. Traders and investors will closely monitor upcoming economic data releases to gauge the potential impact on currency markets, as the pair navigates through the evolving economic landscape.
Below 1.1000 look for further downside with 1.0830 & 1.0780 as targets.
Yesterday Entry:
2023The chart you see is the EURUSD but this post isn't just about euro but it will be a key player coming into next yr.
It's been a year of CB's but where do we head next?
BOE raising rates 3.5%, with the split vote as we head into 2023 expect a large recession going forward as all CB's have raised rates they are hiking a little bit too much and yes they will have to cut as we head into the recession but hiking could actually be a mistake but we obviously don't control what CB's will do and CPI is declining 11.1% it dropped to 10.7% cost of petrol, tobacco etc Food prices are rising. It is a great amount 10% core inflation isn't excelling it's still at those areas. Raising rates, it takes time to come into transition. Now don't forget we've got strikes such as rail strikes, it isn't busy with retail sales aren't excelling people can't get into these stores and less people are spending.
FOMC: Raising rates 0.25% keep rates higher 2023 5.1% expectation of rate. Very hawkish, headline inflation 7.1% lowering CPI. These rate hikes are working. The market rallied S&P, it declined. Rate hikes are pacing themselves, we could even get cuts mid next year stop hiking rates, recession. It will take more evidence for inflation is on downward path, in reality it is declining. Perhaps its due to core inflation. The dot plot was the main move. It's 4.5%, they want 5.1%. No cuts in 2023, that's the questionable bit as well. Now market did rally before thinking there would be cut sooner 2023 well the dot plot differs in that view. 17 out 19 for 5.1% members. Last 3 months it has raised. That's interesting. Labour market jobs available and working 3.5 million it is very tight. When going into recession there's cost cutting, further reduction of employees = Recession. Job cuts are here tech sector, finance sector etc. Wages stay high, no demand disruption. May sustain high inflation. The need keeping rates higher for longer, extending the demand disruptions. Hiring was very difficult in first place, are workers going to extend the cut of workers? Time will tell.
ECB hiked as all CB's are. Anybody who thinks this is a pivot, is wrong. 50 basis point hikes pace for period of time EU indices fell. Very hawkish. They are lagging compared to other CB's, current rate 2.5%. Now bare in mind they do have to think of other countries but they are behind compared to others, the large bear move came. Quantitative tightening in May extends.
We had CPI's, we've had of this year CB's. Year ends all CB's hawkish. The markets SPX and other EUR indices rallying but it hasn't happened the Grinch came out, you can see in my previous posts I wasn't confident at all we could head higher especially SPX this can be seen through previous posts. I expect this to continue. Don't forget you got China think about as well reopening, it's interesting time there. Overall regarding the market, we already see housing having issues, there's another country that has my key interest it's Mexico, will manufacturing move further away from China and head a little to Mexico? USDMXN interesting FX pair I am going to keep an eye on for next year. Regarding market overall, I am bearish DXY for the next 6 months in my humble opinion . I feel shorter term, for sure a pull back but I think longer term: GBP we could hit back to 1.30/1.35 areas, EUR 1.15/1.20, XAG 30-35, keep an eye on other euro minor pairs could extend further a lot more in gains than others and yes I will even mention crypto 8-10k Bitcoin seems a good support area! If we technically stay above those areas, could be a good time to buy but that market overall has a lot of reinforcement to make regarding the regulations. The market doesn't go in straight line that's where technicals come in. Last year I expected we get higher DXY - we achieved that but this time I'm on the flip side...embrace yourself for recession.
Happy Holidays & Get ready to smash 2023.
Trade Journal
Financial Trader | Empowering Your Trading Journey
Disclaimer: Not Investment Advice Or Signal Provider
EURO Seagull detected!!On November 16, a series of "Seagull" option structures were initiated on the Euro (as shown in the picture). The stated objective of this strategy is to reach $1.06 by January 05, 2024. There is a high likelihood that the creator of this portfolio is not a retail trader.
EUR/USD Daily Chart Analysis For Week of Nov 17, 2023Technical Analysis and Outlook:
The Eurodollar has experienced a notable recovery after successfully achieving the designated target of Inner Currency Rally 1.077. This means the Euro has bounced back significantly and shows positive momentum in the currency market.
However, as the Eurodollar approaches the next selected mark, Key Res 1.092, it may encounter significant resistance. The price of this resistance level is essential, suggesting whether the Eurodollar will likely fall further.
Furthermore, if the Eurodollar fails to surpass the Key Res 1.092 level, it could continue its downward momentum and reach the Mean Support level of 1.084. This crucial support level will offer a substantial price platform against further downward movements. Therefore, it is also essential to keep an eye on the Eurodollar's performance at this level.
