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Eurodollar

EUR/USD Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook: During this week's trading session, the Eurodollar has surpassed the Mean Resistance level of 1.074 and is currently positioned below the Mean Resistance level of 1.085. The present analysis indicates a potential down movement for the Euro to the Mean Resistance level of 1.078 and subsequently decrease to the Mean Support level of 1.074. However, it is essential to acknowledge the potential for an upward extension towards the Mean Resistance level of 1.090.
by TradeSelecter
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Long
by TruthakaWallStreetakaCookie
EUR/USD Maintains Bullish Momentum, Surpasses 1.0800As anticipated in our previous forecast, EUR/USD has continued its bullish momentum, climbing above the 1.0800 level. Analyzing the chart, you can observe the areas where we have marked the closest supply zone, which we expect the price to reach before any potential decline. Disappointing macroeconomic data releases from the US triggered a selloff of the US Dollar (USD) during American trading hours on Wednesday, aiding the EUR/USD's upward movement. The ADP reported that private sector payrolls increased by 150,000 in June, missing analysts' estimate of 160,000. Additionally, the Department of Labor's weekly data showed 238,000 first-time applications for unemployment benefits, up from 233,000 the previous week. Furthermore, the ISM Services PMI fell to 48.8 in June from 53.8 in May, indicating a contraction in the service sector's business activity. The Employment Index and the Prices Paid Index of the PMI survey also dropped to 46.1 and 56.3, respectively. Looking ahead, tomorrow's release of USD Average Hourly Earnings m/m and Non-Farm Employment Change is expected to introduce further market volatility. Our forecast remains bullish until the price reaches the identified supply area. ✅ Please share your thoughts about EURUSD 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.
Long
by FOREXN1
5
EUR/USD Gains Amid Market Risk Flows: Short-Term Long PositionThe EUR/USD pair is trading in positive territory, slightly above 1.0750, following modest gains on Tuesday. While the technical indicators suggest a buildup of bullish momentum, the pair may face resistance in clearing the 1.0790-1.0800 range unless supported by significant fundamental factors. As Wednesday's session began, risk appetite dominated the markets, making it challenging for the US Dollar (USD) to attract demand. The upcoming USD Unemployment Claims and ISM Services PMI forecasts suggest a bearish outlook for the USD, prompting traders to favor the EUR. Our primary strategy is to wait for the price to reach a supply area before considering a potential short position. Given that the price rose from a demand area yesterday, our current focus is on a short-term long position, targeting the 1.0850 level. Later in the day, the ADP Employment Change and ISM Services PMI data from the US will be closely watched for new market insights. ✅ Please share your thoughts about EUR 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.
Long
by FOREXN1
1
EURUSD Analysis===>>RR=2.41EURUSD managed to break the Resistance line and Resistance zone($1.0734_$1.0716) with the help of the Breakaway Gap . ( Of course, now the resistance zone has turned into a support zone ). According to the Elliott wave theory , EURUSD has successfully completed wave 3 and is currently completing wave 4 . I expect the EURUSD to rise to at least the Resistance zone($1.0806_$1.0780) . 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.
Long
by pejman_zwin
4
EUR/USD Analysis: ECB Rate Cuts and Fed Policy DivergenceThe EUR/USD pair is facing significant macroeconomic factors, with the European Central Bank (ECB) contemplating additional rate cuts beyond the summer, aligning with market expectations of two more rate cuts later this year. Conversely, market participants are debating whether the Federal Reserve (Fed) will implement one or two rate cuts this year, despite the Fed's June 12 meeting indicating just one cut, likely in December. Today's release of the EUR Core CPI Flash Estimate y/y and CPI Flash Estimate y/y shows weaker prospects than forecasted. The Consumer Price Index (CPI), which measures the change in the price of goods and services purchased by consumers, suggests that a weaker result could drive the EUR/USD pair lower. Additionally, the recent rise in the US Dollar is partly due to hawkish comments from Fed officials and the growing monetary policy gap between the Fed and other major central banks, contributing to the euro's decline. In the short term, the recent ECB rate cut, compared to the Fed's decision to maintain rates, has further widened the policy gap between the two central banks, potentially leading to more weakness in the EUR/USD pair. From a technical perspective, on the Daily timeframe, we have identified a Demand Area that has not been fully tested. We anticipate a possible bearish momentum today and will look for a potential long position if the price reaches our Area of interest. ✅ 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
EUR/USD Rebounds in Sideways Area, Concludes Flat Trading WeekAs forecasted, the EUR/USD pair rebounded within its sideways range on Friday, wrapping up a week of flat trading. Traders found little reason to push the pair meaningfully in either direction. The week saw German import prices and labor figures broadly missing expectations, while the US Personal Consumption Expenditure (PCE) Price Index inflation printed at forecast without sparking significant movement. German Unemployment Change data showed a higher-than-expected increase, with 19,000 more consumers added to unemployment figures in June, exceeding the forecast of 15,000 but still below the previous month's 25,000. The German Unemployment Rate also edged higher to 6.0%, compared to the forecasted hold at 5.9%. Our technical analysis remains bullish as long as the price stays within the upper side of the sideways rectangle. Currently, the price has rebounded from the 78.6% Fibonacci retracement level of the lowest major swing and has formed a triple bottom pattern. This suggests a potential continuation of the upward trend. We will continue to monitor the economic conditions to determine future moves once the price approaches the upper boundary of the sideways range. For now, the technical indicators support a bullish outlook, anticipating further gains within the current trading range. Initial Idea ✅ 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.
Long
by FOREXN1
1
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Long
by TruthakaWallStreetakaCookie
Fundamental Market Analysis for June 27, 2024 EURUSDThe Euro-dollar pair pulled back to the 1.06800 area on Wednesday after the German GfK Consumer Confidence Index for July unexpectedly declined, while a lack of meaningful data during the U.S. trading session left investors chewing over the Federal Reserve's (Fed) cautious stance this week. Germany's consumer confidence reading for July fell to -21.8, falling short of forecasts for a recovery to -18.9 from the previous month's revised reading of -21.0. Despite a slow and steady recovery in the German GfK consumer confidence survey, Wednesday's downbeat publication knocked the legs out from under an already battered euro. The change in U.S. new home sales in May recorded a -11.3% month-over-month decline on Wednesday (2.0%), sharply revised from the initial reading of -4.7%. U.S. GDP for the quarter is expected to rise slightly to 1.4% from an initial reading of 1.3%, while May durable goods orders are expected to contract by -0.1% from a revised 0.6% in the prior month. U.S. initial jobless claims for the week ending June 21 are expected to fall slightly to 236k from the previous reading of 238k, but the figure is expected to be above the four-week average of 232.75k. Market confidence that the Federal Open Market Committee (FOMC) will cut rates on September 18 has declined. The probability of a rate cut of at least a quarter point fell to 60%, down from a peak of just above 70% last week, according to CME's FedWatch tool. Trading recommendation: Trade predominantly with Buy orders from the current price level.
Long
by Fresh-Forexcast2004
EUR/USD Bullish Outlook Following Double Bottom ReactionFollowing our previous analysis, the EUR/USD pair showed a notable reaction to the double bottom pattern we forecasted on Friday. The price bounced off the 1.06800 level, indicating a potential continuation of the bullish impulse. This movement is further supported by the lack of high-tier data releases from the US economic docket in the second half of the day, which means that the USD's valuation is unlikely to be driven by new economic data. As a result, investors are expected to respond primarily to changes in risk perception. On Friday, PMI data from the US indicated that business activity continued to expand at a robust pace in June. This data helped the US Dollar (USD) maintain its strength ahead of the weekend, preventing the EUR/USD pair from gaining significant traction. Given these factors, we anticipate a continuation of the bullish trend for EUR/USD. We will continue to monitor market developments closely and adjust our strategy as necessary to capitalize on this potential upward movement.
Long
by FOREXN1
1
EUR/USD Shorts form 1.07100 or 1.07425My analysis for EU is similar to GU, focusing on sell opportunities. I'm particularly interested in a 4-hour supply level as a key area to take sells from. Once the price enters that zone, I will look for lower time frame (LTF) confirmation to continue the bearish trend. If the price goes higher, which is also expected, a more favorable sell position would be around the 5-hour supply zone, as it offers a more advantageous selling point. - Price has been very bearish recently indicating bears are more dominant. - 5hr and 4hr supply levels left unmitigated thats now become our POI. - Lots of liquidity left to the downside like Asia lows. - DXY is also correlating and supporting this idea as the dollar is looking bullish right now. - Lots of bearish pressure which means the correction is pending back up. P.S. I expect this pair to start off bearish this week, aiming to break the nearby low. Afterward, I anticipate a reaction from the 4-hour demand zone, causing a retracement back up.
Short
by Hassan_fx
3
Fundamental Market Analysis for June 21, 2024 EURUSDThe US Dollar (USD) remains resilient early Friday after rising against major rivals on Thursday. Later in the day, S&P Global will release preliminary reports on manufacturing and services PMIs for Germany, the UK, the eurozone and the US for June. Ahead of the weekend, market participants will also keep a close eye on May US existing home sales data and May Canadian retail sales data. EUR/USD returned to familiar technical levels on Thursday, falling towards 1.0700 after a miss in US economic data supported the dollar. Germany's Producer Price Index (PPI) fell to 0.0% month-on-month in May, down from the previous reading of 0.2% and missing the expected rise to 0.3%. On an annualized basis, the PPI was also below expectations, falling to -2.2% for the year ending in May. While the annualized figure improved from the previous reading of -3.3%, it still fell short of the projected recovery to -2.0%. The latest US initial jobless claims data came in above expectations: 238,000 people applied for unemployment benefits in the week ended June 14, up from the previous week's revised figure of 243,000. The increase also pushed the four-week average to 242,750 from the previous 227,250. The Philadelphia Fed's manufacturing sector business activity index for June fell to 1.3 from 4.5, falling short of the expected 5.0. In addition, U.S. housing starts in May fell to 1.277 million new units, down from the forecast of 1.37 million and the previous month's revised figure of 1.352 million. Trading recommendation: Trade predominantly with Sell orders from the current price level.
Short
by Fresh-Forexcast2004
EUR/USD Trades Higher on Monday After Rebound from supportsThe EUR/USD currency pair experienced a notable upward movement on Monday, following a rebound from critical support levels around 1.0700 and 1.0640 during the early European session. This rebound marks a significant shift after a period of pressure, largely attributed to potential risks emerging from France's financial situation. The speculation that Marine Le Pen's far-right National Rally (RN) may form a new government has raised concerns over France's fiscal stability, thereby dampening the Euro's appeal. Technical Analysis From a technical standpoint, the EUR/USD pair displayed a rejection at the 78.60% Fibonacci retracement level derived from the major swing low, precisely within the support area identified last week. This rejection was further supported by a double divergence observed in both the Relative Strength Index (RSI) and Stochastic indicators on the H4 timeframe, signaling a potential bullish reversal. The Fibonacci retracement level is a crucial tool used by traders to identify potential reversal levels. The 78.60% retracement level, in particular, is considered a deep retracement and often indicates strong support or resistance. The fact that the price rejected this level suggests a strong bullish sentiment among traders. Market Sentiment and Economic Factors The broader market sentiment has been influenced by political developments in France. The potential ascendancy of Marine Le Pen's National Rally to government raises significant concerns over fiscal policy changes, which could impact the overall economic stability of France and, by extension, the Eurozone. Such political uncertainties often lead to increased volatility in currency markets, as investors adjust their positions based on perceived risks. Despite the political uncertainties, no significant economic releases were scheduled for today, particularly concerning the Empire State Manufacturing Index for the USD. This absence of major economic data implies that the currency pair's movement is driven more by technical factors and geopolitical news rather than immediate economic indicators. Outlook and Future Expectations Looking ahead, traders and analysts are anticipating potential strong volatility in the EUR/USD pair as they await economic data releases in the coming days. The lack of significant economic news today leaves the pair susceptible to technical trading and news-driven volatility. Given the current technical setup and market sentiment, a bullish impulse is expected in the EUR/USD pair. The rejection of the 78.60% Fibonacci level, coupled with the double divergence in the RSI and Stochastic indicators, points towards a potential continuation of the upward trend. Traders will be closely monitoring upcoming economic releases and political developments for further cues. In summary, the EUR/USD pair's rise on Monday, following a rebound from crucial support levels, highlights the interplay between technical indicators and geopolitical factors. While the speculation surrounding France's political future weighs on the Euro, the technical rejection of key support levels suggests a potential bullish trend. As traders await more economic data, the pair is poised for further volatility, with a bullish outlook prevailing in the short term.
Long
by FOREXN1
5
Conflicted Euro Caught Between Hawkish Fed and Political IssuesThe Eurozone's currency, the Euro, finds itself in a precarious position, buffeted by two powerful forces: the tightening grip of the U.S. Federal Reserve and the ever-present political turmoil within the European Union. Navigating this treacherous landscape presents a significant challenge for investors and traders alike. The Fed Talks A Rising Tide Sinks All Boats The primary driver of the Euro's woes is the aggressive monetary policy shift by the U.S. Federal Reserve. In response to surging inflation, the Fed has embarked on a series of interest rate hikes, making the U.S. dollar a more attractive proposition for investors. Higher interest rates in the U.S. entice investors to park their funds in dollar-denominated assets, leading to a stronger dollar. This, in turn, weakens the Euro through a simple principle: currency exchange rates operate on a relative basis. A stronger dollar makes the Euro comparatively less valuable. The Fed's actions have a ripple effect across global financial markets. As the dollar strengthens, it attracts capital away from other currencies, including the Euro. This capital flight weakens the Euro's value and creates a vicious cycle. Additionally, a stronger dollar makes Eurozone exports more expensive on the global market, potentially dampening economic growth in the region. European Internal Divisions Weigh Heavy Adding to the Euro's woes are the ongoing political uncertainties within the European Union. The bloc faces several internal challenges, including: • The Rise of Euroscepticism: Populist movements that question the benefits of European integration are gaining traction in some member states. This creates uncertainty about the future of the Eurozone and discourages investors from committing to the Euro. • Disunity on Fiscal Policy: Member states often have differing government spending and taxation priorities. This can make it difficult for the European Central Bank (ECB), the Eurozone's central bank, to implement a cohesive monetary policy that benefits all members. • The Ukraine War: The ongoing war in Ukraine has added a layer of economic and political instability to the region. The war's impact on energy prices and supply chains further dampens the Eurozone's economic prospects. These internal divisions weaken the Euro's image as a stable and reliable currency. Investors are more likely to favor the dollar, which is seen as a safe haven during times of global uncertainty. Steering Clear of the Dollar's Influence: Alternative Strategies While the Euro's near-term outlook appears uncertain, traders looking to speculate on the currency should consider strategies that minimize the impact of the dollar's dominance. Here are some potential approaches: • Focus on Eurozone Fundamentals: Analyze the economic health of individual Eurozone member states. Look for countries with strong economic fundamentals, such as low unemployment and healthy trade surpluses. Currencies of these countries may outperform the Euro itself. • Play the Spread: Instead of directly trading the Euro against the dollar, consider trading it against other currencies within the Eurozone itself. This approach could benefit from internal economic disparities within the bloc. • Focus on Long-Term Trends: The Eurozone, despite its challenges, remains a large and economically powerful region. Long-term investors may choose to hold the Euro based on their belief in the region's eventual economic recovery and political stability. Conclusion: A Currency at a Crossroads The Euro's current predicament highlights the complex interplay between global economic forces and regional political realities. While the dollar's strength and internal European divisions pose significant challenges, opportunities still exist for investors who can navigate these volatile conditions. By focusing on Eurozone fundamentals, exploring alternative trading strategies, and considering long-term trends, traders can potentially find success even as the Euro is in a conflicted battle.
BMFBOVESPA:EUR1!
by bryandowningqln
EUR/USD Shorts from 1.07400My bias is similar to GU, given the significant bearish pressure we've seen. I aim to continue this bearish trend. Currently, I am waiting for a pullback into a supply level for price to distribute and maintain its downward direction. I will look for sell opportunities at the 10-hour supply zone. If the price doesn't react there, I expect a stronger response from the 4-hourly supply zone, which is at a more premium price. From there, I plan to sell back down, targeting the liquidity below. Confluences for EU Sells are as follows: - Lots of liquidity below that needs to get taken as well as imbalances that need to get filled. - DXY is also looking bullish which aligns with this idea as well. - Price has left a clean level of supply that has been unmitigated. - Price is currently in a downtrend so this is a pro-trend idea. - Higher time frame and candle stick anatomy also show bearish P.S. If the price drops a bit more, I will consider taking buys from the 4-hour demand zone, as it is valid and at a good price point. However, if this zone breaks, it will further confirm my bearish bias.
Short
by Hassan_fx
EUR/USD Daily Chart Analysis For Week of June 14, 2024Technical Analysis and Outlook: The Eurodollar has achieved two of our downward trend targets in the current week's trading: Mean Support at 1.075 and 1.067, respectively. The remaining downside targets continue to be valid. The ultimate target for the completed Inner Currency Dip is 1.060 and 1.054; out of most, the completed Outer Currency Dip is 1.045. On the upside, the dead-cat rebound is set to target Mean Resistance at 1.073.
by TradeSelecter
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
EUR/USD Awaits Volatility Ahead of Key US Data and FOMC DecisionThe EUR/USD pair is currently oscillating within a narrow range of 1.0750 - 1.0722 during the Asian session on Wednesday, consolidating the losses accumulated over the past three days. This period of consolidation comes as traders adopt a cautious approach, awaiting significant economic events before committing to new directional bets. Market Sentiment and Upcoming Economic Data The subdued trading activity can be attributed to the anticipation surrounding the release of the US consumer inflation figures and the crucial Federal Open Market Committee (FOMC) decision. Both events are expected to have a substantial impact on market volatility and could provide fresh momentum for the EUR/USD pair. US Consumer Inflation Figures The US Consumer Price Index (CPI) data, particularly the Core CPI m/m, is a key indicator of inflation and is closely watched by market participants. The data release is expected to shed light on the current inflationary pressures within the US economy and influence the Federal Reserve's monetary policy stance. Strong inflation data could bolster expectations of a hawkish Fed, potentially supporting the US Dollar and putting further pressure on the EUR/USD pair. FOMC Decision In addition to the inflation data, the FOMC decision is another critical event on the horizon. The Federal Reserve's policy statement and subsequent press conference will provide insights into the central bank's economic outlook and future policy actions. Traders will be particularly interested in any indications regarding the timing of interest rate hikes or tapering of asset purchases. A more hawkish stance could lead to increased demand for the US Dollar, impacting the EUR/USD pair. Technical Perspective From a technical standpoint, the EUR/USD pair is currently in a phase of consolidation. The price is hovering around the support level at 1.0722 and resistance at 1.0750. The market is awaiting the release of the Core CPI m/m and the FOMC decision to trigger the necessary volatility for a significant price movement. Given the current technical indicators and market sentiment, we are looking for a potential long impulse once the data is released. In conclusion the EUR/USD pair remains in a tight range as traders await key economic data and the FOMC decision. The outcome of these events will likely determine the next directional move for the pair. From a technical perspective, we anticipate a bullish impulse following the release of the US inflation figures and the FOMC announcement, provided the data supports such a move. Traders should prepare for heightened volatility and be ready to adjust their positions accordingly.
Long
by FOREXN1
1