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EUR/USD Daily Chart Analysis For Week of Nov 8, 2024Technical Analysis and Outlook: The Eurodollar has resumed its downward trend with notable intensity, completing an inner currency dip at 1.075 and stopping just short of the critical support level at 1.068. It is anticipated that the Euro will continue its decline, potentially retesting the completed Inner Currency Dip at 1.060 and reaching the next significant target of 1.054. While this downward movement is of considerable importance, it may also instigate a rebound, guiding prices back to the newly established resistance level at 1.080.
by TradeSelecter
EUR/USD 8H SwingTrade: Institutions in Control Amid Deep RetraceThis long position on EUR/USD continues to develop as the trade approaches a critical zone near 1.09600, where partial profits will be taken if the market starts to move in the anticipated direction. The setup shows a potential for a reversal following a controlled decline, which may indicate institutional players hedging their positions. Despite the lack of a significant pullback, the steady decline suggests deeper market manipulation by larger participants, as they may be positioning themselves for a move upward. This swing trade is grounded in both technical and fundamental factors. While the euro has faced challenges due to economic slowdown in the Eurozone, the technicals are showing signs of alignment for a potential bullish reversal. If the market sentiment shifts, the euro could gain momentum, supported by upcoming key economic data and central bank statements. Technicals: • The price action shows a controlled decline with minimal volatility, indicating institutional hedging and the possibility of a corrective move. • Price is trading within the momentum cloud, signaling a neutral-to-bullish shift in sentiment. The next key level to watch is the 1.09600 area, where partial profit-taking is planned. • A full break above 1.10280 (next significant resistance) could fuel further bullish momentum, targeting higher levels at 1.1070 and beyond. • Stop loss is placed below 1.0740 to account for market volatility while keeping the risk-to-reward ratio balanced. Fundamentals: • Eurozone Outlook: With inflation persisting in the Eurozone, the European Central Bank (ECB) continues its cautious approach, maintaining tight monetary policy. However, the euro remains under pressure due to underwhelming growth figures, geopolitical risks from the Russia-Ukraine conflict, and high inflation. • USD Strength: The USD remains strong amid solid US economic data, including robust housing starts and job growth. This strength has limited the euro’s ability to recover, but any weakening in the US data could help fuel a euro recovery. • Macro Events: Key macro events, including ECB President Lagarde’s upcoming speeches and US economic data releases, are likely to have an impact on this pair. Lagarde’s recent dovish tone, combined with any signs of weakening in the US economy, could catalyze a EUR/USD reversal. Risk Management: • Taking partial profits near the 1.09600 level minimizes downside risk while locking in gains if the trade moves favorably. • The stop loss remains tight to protect against any sudden reversals, placed below the recent low at 1.0740 to maintain an optimal risk-reward ratio. • By maintaining flexibility in managing the position, this setup aims to capture gains while protecting capital in volatile market conditions. This trade setup offers a promising opportunity as we monitor both the technical and fundamental aspects closely. Let’s stay focused and continue to manage the position based on market developments! Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Long
by AR33_
EURUSD: Will It Retrace to POI?Our philosophy focuses on simplicity and precision, avoiding cognitive overload. On the daily chart, EURUSD is trading within Range Zone. If another daily candle closes bullish above $1.086 (the Daily Range Bottom), it could push the price up to the Range Top at $1.1, which is our Daily Point of Interest (Daily POI). The Mid Daily Range may act as minor resistance on this move. If EURUSD falls below the Daily Range Bottom, it enters a bearish zone, with the next target around Key Daily Level 1↓ at $1.066. Alternatively, a bullish breakout above the Daily Range Top could extend gains to the Minor Daily Level at $1.112. Though, this scenario is secondary as long as EURUSD remains within the Daily Range Zone.
by Trade-Lean
EUR/USD Shorts from 1.09200 back down This week’s analysis for EUR/USD is somewhat different from GBP/USD. I expect price to continue dropping from one of the two supply zones I’ve identified. I’ll be watching for a potential Wyckoff distribution pattern to form at these zones. Once I see signs of distribution, I’ll look to enter short positions, targeting the liquidity pool below. If, during the week’s election events, price drops to fill the gap left at Sunday’s open, I see potential for buys from the 1-hour demand zone. I’ll wait for signs of price slowing down and accumulating to identify good entry points for long trades. Confluences for EUR/USD Sells: - Price is approaching a premium supply area. - Significant liquidity lies below, including untouched Asian session lows. - The higher timeframe trend remains bearish. - The DXY still shows strong bullish pressure. P.S. Although there’s been a recent shift in character to the upside, I still view EUR/USD as bearish on the higher timeframe, especially with the dollar’s ongoing bullish momentum. I’ll observe price behavior within my points of interest to determine the best entries.
Short
by Hassan_fx
EUR/USD Surges as U.S. Political Uncertainty Ahead of Key EventsDuring Monday’s European session, the EUR/USD currency pair is making headlines by hovering around the 1.0900 mark. With an ambitious target of 1.09780 in sight, this major currency pair is showing a notable surge at the expense of the U.S. Dollar (USD). This movement comes amid rising uncertainty as the United States approaches its presidential election on Tuesday, alongside the Federal Reserve's monetary policy meeting later in the week. A Bearish Start for the U.S. Dollar As the new week begins, the U.S. Dollar is experiencing a bearish trend, reflected in the decline of the U.S. Dollar Index (DXY). Market participants are especially focused on the tight race shaping up between former President Donald Trump and current Vice President Kamala Harris, fueling a climate of uncertainty around the election outcomes. The anticipation surrounding the elections appears to have contributed to a flight from the dollar, as traders brace for potential volatility based on the implications of the election results. Technical Analysis: No Major Changes From a technical perspective, the current market behavior reflects continuity rather than change. Price levels remain largely similar to those observed in previous weeks, suggesting a moment of stabilization as traders await catalysts that could lead to clearer directional moves. Additionally, the Commitment of Traders (COT) report indicates that the positioning of traders has not changed significantly, continuing to reflect the trends seen last week. Preparing for Election Aftermath As the market gears up for the immediate aftermath of the elections, traders should be prepared for substantial fluctuations. The uncertainty regarding the election outcomes and the potential shifts in U.S. monetary policy are poised to create considerable movement across various asset classes. Depending on who emerges victorious, expectations for fiscal strategies, regulatory changes, and economic recovery plans may influence market sentiment and asset performance for weeks to come. Conclusion In conclusion, the EUR/USD's rise toward the 1.09780 target reflects broader market dynamics influenced by political uncertainty in the United States. As participants navigate this complex landscape, the interplay between election outcomes and central bank policies will be crucial to the future trajectory of the currency pair. Traders are advised to remain vigilant, as upcoming events could lead to significant volatility, reshaping market expectations and price actions in the process. Previous Forecast: ✅ 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
EUR/USD Starts Tuesday with Optimism Amid Mixed Dollar StrengthThe EUR/USD pair opened Tuesday with a positive sentiment, trading at 1.08230 as of this writing. This follows a shaky start to the week for the US Dollar (USD), which initially showed strength but saw limited momentum as investors opted for caution, especially in the absence of major economic data or fundamental drivers early in the week. ECB’s Cautious Tone Amid Inflation Progress On Monday, ECB Vice President Luis de Guindos offered insights into the central bank’s view on inflation, noting that while there has been substantial progress in reducing inflation, it's premature to assume that the battle is over. His statements suggested that the ECB will maintain a flexible stance on monetary policy, leaving room for adjustments depending on economic developments. This cautious, yet open stance by the ECB may lend some support to the euro, as markets interpret the ECB's careful monitoring of inflation as a signal that interest rate hikes could still be in the realm of possibility. Focus on U.S. JOLTS Job Openings Data Later in the day, the US Bureau of Labor Statistics will release the JOLTS Job Openings data for September, which may influence USD sentiment. Markets are anticipating job openings to slightly decrease to 7.99 million, from 8.04 million in August. However, should the reading exceed expectations, particularly if it reaches 8.5 million or higher, it could reinforce USD strength as it would indicate continued labor market resilience—a key factor for the Federal Reserve's policy decisions. Conversely, a reading below 7.5 million might dampen USD appeal, as it would suggest cooling in the labor market, potentially leading the Fed to reconsider its tightening pace. Technical Overview: EUR/USD Positioned Near Demand Zone From a technical perspective, EUR/USD is showing some resilience around a demand zone, though it isn’t the strongest of support levels. The pair’s recent reaction in this area suggests some buying interest that could offer temporary support. Given this positioning, a long position might be worth considering if the upcoming JOLTS data provides a supportive backdrop by coming in below expectations, potentially weakening the USD. On the other hand, if the data surprises on the upside, EUR/USD might test lower levels, and the demand zone’s strength could be challenged. Conclusion In summary, the EUR/USD outlook today hinges significantly on the JOLTS report, with the euro finding slight support from the ECB's cautious optimism on inflation. A supportive labor report could provide USD strength, but a weaker-than-expected report may favor euro bulls, positioning EUR/USD for further upside near current demand levels. With this dynamic, traders might consider waiting for the JOLTS data before committing to positions, using it as a potential trigger for directionality in this volatile environment. ✅ 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
fib at 1.1034fibonnaci at 1.1034, it is my 1st target and first real ressistance, appart of not beeing there the price for long in my pov, but dxy has a resistance on the 16th of august at that level wht can invade the long posistion making a bigger resistance, but imo it will might go to 1.12 to 1.14 but only the markets can say, and be careful on election day. keep ur trading safe, do your own analysis, you can take value in others persons analysis but do ur own, and keep ur risk safe, take care at elections day, it can change everything,.
Long
by Carlosdrcunha
EUR/USD Daily Chart Analysis For Week of Nov 1, 2024Technical Analysis and Outlook: The Eurodollar surpassed our Mean Resistance level of 1.083 during this week's trading session, demonstrating enough strength to initiate a robust interim rebound. However, ongoing selling pressure has pushed the Eurodollar back down to our Mean Support level of 1.083, which now acts as the inverse of the previous resistance. The Euro will likely decline further, potentially hitting the Inner Currency Dip of 1.075 through Mean Support at 1.078. This price action will be significant and trigger an interim rebound to the newly established Mean Support level of 1.082.
by TradeSelecter
EURUSD Analysis==>>Inverted Head and Shoulders Pattern!!!EURUSD ( FX:EURUSD ) is moving near the Upper line of the Descending Channel , Support zone($1.0816-$1.0775) , and Support lines . Regarding Classic Technical Analysis , EURUSD has already broken the Neckline of the Inverted Head and Shoulders Pattern ( Bullish Reversal Pattern ). Also, Regular Divergence (RD+) between Consecutive Valleys . I expect EURUSD to rise to at least the width of the descending channel after breaking the upper line of the descending channel and SMA(100) and then attacking the Resistance lines . ⚠️Note: If EURUSD goes below $1.075, we must wait for more dumps to at least $1.069⚠️ Euro/U.S.Dollar Analyze (EURUSD), 1-hour Time frame ⏰. 🔔Be sure to follow the updated ideas.🔔 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
10
Fundamental Market Analysis for October 30, 2024 EURUSDThe Euro-dollar pair is losing ground after two days of gains, trading near 1.08100 during Asian hours on Wednesday. The Euro is under downward pressure as the European Central Bank (ECB) is expected to cut the deposit rate again. Money markets currently rate the probability of a 50 basis point rate cut during the December meeting at nearly 50%. Investors will be keeping a close eye on preliminary German and Eurozone gross domestic product (GDP) data, as well as preliminary German Harmonized Index of Consumer Prices (HICP) data scheduled for release on Wednesday. On Wednesday, the focus will shift to preliminary US Q3 Gross Domestic Product (GDP) data and October employment change data from ADP. ECB policymakers have recently expressed different views on monetary policy. Pierre Wunsch, Governor of the National Bank of Belgium, said that the central bank has no pressing need to accelerate interest rate cuts and suggested that it might even settle for a more modest pace. In contrast, Mario Centeno, Governor of the Bank of Portugal, advocated considering a 50 basis point rate cut as a possible option for December. The decline in EURUSD could also be attributed to a rise in the US Dollar amid rising Treasury yields. The US Dollar Index (DXY), which measures the value of the US dollar against six other major currencies, is trading around 104.30, while the yields on 2-year and 10-year US Treasuries are at 4.09% and 4.24%, respectively, at the time of writing. The risk-sensitive EUR/USD may continue to decline amid continued uncertainty surrounding the US presidential election. A three-day Reuters/Ipsos poll, which ended on Sunday and was released on Tuesday, showed that the race is virtually tied as we get closer to the November 5 election. Trading recommendation: Watch the level of 1.08000, if consolidated below consider Sell positions, if rebounded consider Buy positions.
by Fresh-Forexcast2004
EUR/USD Daily Chart Analysis For Week of Oct 25, 2024Technical Analysis and Outlook: The Eurodollar has experienced persistent bearish sentiment during this week's trading session, demonstrating insufficient strength to initiate any interim rebound. The prevailing selling pressure has lowered the Eurodollar to our Mean Support level of 1.079. A temporary rebound led to the reversal of the previously established Inner Currency Dip at 1.083, which currently stands as Mean Res 1.083 and might serve as the Interim Rebound's first stage. The Euro appears poised for further decline, potentially reaching the inner currency dip of 1.075, which remains notably significant and triggers second stage Interin Rebound to Mean Sup 1.078.
by TradeSelecter
EUR/USD Sells to continue from 1.08300 or 1.08500EU Analysis Breakdown: My bias for EU aligns closely with GU, anticipating a continued bearish trend as long as the DXY remains bullish. I’ve marked out two supply zones and will wait for either to be mitigated, followed by my lower time frame execution model involving Wyckoff principles. Once I spot a Wyckoff distribution pattern, liquidity sweep, and CHOCH, I’ll initiate a sell position to keep with the downward trend. If price reaches the 9-hour demand zone at 1.07500, I’ll assess potential buy opportunities there. Confluences for EU Sells: - Strong bullish momentum in the DXY supports a downward bias for EU. - EU’s consistent bearish structure aligns with this trend-following approach. - An untouched supply zone provides a key area for potential sell entries. - Significant downside liquidity offers additional targets. P.S. Price could alternatively rise due to the liquidity above the supply zone, particularly around Asia session highs. Trade safely and stay smart out there!
Short
by Hassan_fx
EUR/USD Finally Finds Some Support, But Can it Build a Bounce?EUR/USD Talking Points The strength from Q3 has been mostly erased so far in Q4, with a fast sell-off developing in EUR/USD. In late-September the pair continued to grind away at the 1.1200 handle but not even a month later the pair has dropped by more than four big figures. Support showed up at the 1.0761 level looked at on Tuesday. The big question now is whether that can lead to some profit taking from sellers, which could build a bounce and that can remain of interest for bears looking for lower-highs. EUR/USD has now traded lower for 15 of the past 20 days. An amazing trend by any stretch but perhaps even more so when compared to the strength that showed in the pair during the first two months of Q3. While that prior bullish trend put in a month of grind at the 1.1200 level, eventually failing, the bear move that’s come in response has been fast and heavy. There’s been only a minimum of pullback so far and any excuse for sellers to continue pushing has so far contributed to continuation. Last Friday brought a bit of bounce. That went along with a pullback in the USD from the 200-day moving average. But support soon showed at a key zone in DXY and bulls were off to the races (and bears in EUR/USD) after this week’s open. In EUR/USD, that resistance earlier in the week played-in right off the underside of the 200-day moving average. At this point the challenge is chasing an oversold trend as RSI on the daily remains in oversold territory on EUR/USD. There has been a bounce showing thus far at Tuesday's level looked around 1.0761. That price is the 38.2% Fibonacci retracement of last year’s sell-off, and its confluent with a trendline originating from last year’s low. EUR/USD Longer-Term Just as I was saying in September when strength was all the range, EUR/USD remains in a range that’s been in-play since last year’s open. There have certainly been some clean shorter-term trends in the confines of that ranging backdrop, and we’ve made a fast move towards the support side of that range but if we do see sellers continuing to push, those values could soon come into play. The current 2024 low plots around the 1.0611 Fibonacci level, which is the 38.2% retracement of the 2021-2022 major move. On the below weekly chart, I’ve linked that level to the shorter-term Fibonacci level at 1.0643 to create the next support zone, down. Below that, it’s the 1.0500 level that put up considerable fight for about a month before leading to a turn a year ago. --- written by James Stanley, Senior Strategist
Short
by WHSelfInvest
Fundamental Market Analysis for October 23, 2024 EURUSDEvent to pay attention to today: 17:00 GMT+3. EUR - ECB President Christine Lagarde Speaks EURUSD: On Tuesday, the EUR/USD pair saw further downside movement, retreating by an additional 0.16% and testing a key technical barrier that could potentially result in new 16-week lows if the euro price base is reached. On Tuesday, European Central Bank (ECB) President Christine Lagarde made several statements, but their content ranged from the mundane to the unremarkable, which had little impact on the euro's performance. In a statement released today, ECB President Lagarde said that the ECB was 'not dissatisfied with what she saw' but that the ECB 'cannot jump to the conclusion that the inflation target is a done deal'. This statement inspired absolutely no confidence in the euro and provided little guidance for currency markets, which are seeing the euro retreat against the dollar for the fourth week in a row. The release of global PMI data is scheduled for Thursday. Market expectations are high for the EU PMI results, with average market forecasts indicating a modest increase in October's EU services PMI from September's 51.4 to 51.6. Trading recommendation: We follow the level of 1.08000, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.
by Fresh-Forexcast2004
EUR/USD Pauses After Four-Day Slide as USD Rally EasesThe EUR/USD pair takes a breather on Friday, following a prolonged four-day losing streak, as the US Dollar's (USD) strong rally shows signs of slowing. The Euro attempts to stabilize after a tough week, with the pair hovering slightly higher, supported by a momentary pause in the USD’s upward momentum. Despite this pause, the outlook for the Greenback remains positive, particularly after Thursday’s encouraging US economic data, which continues to reinforce the idea of a resilient American economy. USD Momentum Eases After Strong Economic Data The US Dollar has experienced a robust run in recent weeks, driven by a strong economy and expectations of higher interest rates from the Federal Reserve. However, the rally took a pause on Friday, despite the release of better-than-expected US economic data. September’s Retail Sales increased by 0.4%, surpassing market forecasts, while the Initial Jobless Claims for the week ending October 11 came in lower than anticipated at 241,000, compared to an expected 260,000. These figures underscored the strength of the US labor market and consumer spending, further bolstering the Federal Reserve’s stance on maintaining elevated interest rates. Even though the positive data continues to favor the USD, the currency’s upward trajectory has temporarily slowed, allowing the EUR/USD pair to consolidate after a sharp decline earlier in the week. This pause in the Greenback's rally offers the Euro some relief, though the broader trend remains USD-favorable in the near term. Technical Outlook: EUR/USD Prepares for a Potential Rebound From a technical standpoint, the EUR/USD pair is showing early signs of a potential bullish rebound. The pair has bounced from a critical demand area, suggesting that buying interest is emerging at these lower price levels. Furthermore, the Commitment of Traders (COT) report reveals a significant divergence between retail and institutional sentiment. While retail traders remain predominantly bearish, large institutional investors—commonly referred to as "smart money"—have begun to increase their long positions on the Euro. This discrepancy in positioning could signal a reversal in market direction, potentially favoring the Euro in the near term. Seasonality patterns also support a possible recovery in the EUR/USD, as historical data suggests that the Euro tends to perform well during this period of the year. Taken together, the technical indicators and seasonal trends point toward a possible bullish setup, where traders might look to enter long positions, anticipating further upside movement. Conclusion: EUR/USD Seeks Stability as USD Rally Temporarily Stalls The EUR/USD pair has found some much-needed support after several days of losses, as the relentless USD rally slows down following strong US economic data. Despite the positive fundamentals supporting the Greenback, technical indicators hint that the Euro may be on the verge of a recovery. The rebound from key demand levels, coupled with institutional long positioning and supportive seasonality, suggests that the EUR/USD could be setting up for a bullish move. Traders should remain vigilant, as the pair’s next move will depend on evolving market conditions and the upcoming data releases that could further influence the direction of both currencies. ✅ 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
4
EUR/USD Daily Chart Analysis For Week of Oct 18, 2024Technical Analysis and Outlook: The Eurodollar experienced sustained bearish sentiment again during this week's trading session, with the prevailing selling pressure completing our Inner Currency Dip of 1.083. A transient rebound is in progress to the Mean Res 1.090. However, considering the current bearish price action, the probability of further declines to the support level of 1.079 and the next Inner Currency Dip of 1.075 remains substantial.
by TradeSelecter
Fundamental Market Analysis for October 18, 2024 EURUSDEUR/USD broke its four-day losing streak, trading near 1.0840 during the Asian session on Friday. However, the US dollar (USD) received support and hit a two-month high of 103.87 on Thursday, helped by a good US retail sales report, which fueled expectations that the Federal Reserve (Fed) may go for a nominal rate cut. According to the CME FedWatch Tool, there is a 90.8% chance of a 25 basis point rate cut in November and a 74.0% chance of another cut in December. U.S. retail sales rose 0.4% month-over-month in September, exceeding both August's 0.1% increase and market expectations for a 0.3% increase. Initial jobless claims in the U.S. fell by 19,000 in the week ended October 11, the largest decline in three months. Total claims fell to 241,000, well below the 260,000 expected. However, the euro faced downward pressure following Thursday's decision by the European Central Bank (ECB). The ECB cut its main refinancing operations rate and deposit rate by 25 basis points to 3.40% and 3.25%, respectively. Trade recommendation: Watch the level of 1.0860, when fixing above consider Buy positions, when rebounding consider Sell positions.
by Fresh-Forexcast2004
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. ✅ 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
EURUSD - 4H Bullish signsThe OANDA:EURUSD pair is currently positioned for potential bullish momentum, especially as the weakening of the US dollar becomes more evident. Technically, the EURUSD is showing signs of recovery, as the downward momentum appears to be weakening, and the price has reached a strong support zone. The recent decline in the USD due to a softer US jobs report, coupled with expectations of dovish action from the Federal Reserve, provides further support for a possible upward move in FX:EURUSD . Additionally, with the European Central Bank (ECB) expected to take further action, possibly through a rate cut in mid-October, market sentiment around the Euro remains cautiously optimistic. If the pair breaks above the next resistance levels, the outlook for a continued rise seems strong, as the price aims for 1.1010 or higher. This aligns well with the technical analysis, where the support zone indicates a potential bounce in the coming sessions.
Long
by Sober_Trading
2