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Eurodollar

EUR/USD Daily Chart Analysis For Week of Oct 4, 2024Technical Analysis and Outlook: The Eurodollar exhibited significant bearish sentiment during this week's trading session, and uncertainty prevailed regarding the currency trajectory amid Dead-Cat rebound activity. Three critical support levels were breached: Mean Support at 1.111, 1.108, and 1.101, ultimately stabilizing at the pivotal Mean Support of 1.097. The prevailing short-term buying pressure propels the currency towards a potential upward movement to the Mean Resistance level of 1.103. Nevertheless, the likelihood of further declines to the supplementary Inner Currency Dip at 1.090 remains strong, given the current interim price action.
by TradeSelecter
EUR/USD 1H Long: Targeting 1.1130 - 1.1160 Ahead of ADP DataOn the 1-hour timeframe, EUR/USD is showing signs of potential reversal after a period of consolidation. The pair is currently trading near a key support zone under the FibCloud, indicating a potential opportunity for a bullish move. I’m positioning for a long trade, targeting the 1.1130 - 1.1160 range. If I get spiked out due to upcoming news, I will look to reenter the trade once conditions stabilize. Technical Analysis: • The price is testing support while hovering below the FibCloud, suggesting a potential breakout to the upside. • Recent consolidation after a series of declines could lead to a corrective bounce. • My target is the 1.1130 - 1.1160 zone, with stops placed below the recent swing low to manage risk. I will reenter if volatility from news spikes me out. Fundamental Analysis: Today’s news calendar is packed with significant events, particularly the ADP Non-Farm Employment Change at 14:15 UTC, which could influence volatility in the USD and subsequently impact EUR/USD price action. This release will provide insight into the U.S. labor market ahead of the NFP (Non-Farm Payroll) data, and traders should be prepared for potential swings in either direction. Other key events include several FOMC members speaking throughout the day, which may offer further insight into the Fed’s outlook. Risk Management: Given the potential impact of the ADP Non-Farm Employment Change data and other news, it is crucial to stay vigilant. I’m managing risk by placing stops below the recent swing low and will monitor volatility closely. Should the trade spike me out due to news, I will reassess and potentially reenter if the setup remains valid. • Stop-Loss: Below the recent swing low to protect from downside risk. • Reentry Plan: If stopped out due to news, I’ll look for confirmation before reentering long positions. EUR/USD presents a long opportunity targeting 1.1130 - 1.1160, but it’s essential to remain flexible given the high-impact news on the horizon. I’ll be prepared to reenter the market if needed, and proper risk management will be key to navigating any unexpected moves. 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_
EUR/USD Analysis – Potential Rejection at Key ResistanceOn the EUR/USD chart, the price is currently not near the resistance level, but if it rises back to this zone, we could see a potential rejection, offering a good shorting opportunity. This resistance has acted as a strong barrier in the past, and with the right setup, it could provide a favorable risk-to-reward trade. Keep an eye on the price movement as it approaches this level and watch for confirmation signals before entering the trade.
Short
by rebenga93
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Long
by Thief_Trader
Will the ECB's dovish stance put downward pressure on the euro? EURUSD has remained range-bound between 1.1100~1.1215 for the week amidst escalating debates on whether the ECB will implement further rate cuts. Germany's September CPI has dropped to 1.6% YoY, down from the previous month's 1.9%. Market expectations indicate that the eurozone's CPI will decrease to 1.9% in September from 2.2%, marking the first time it has fallen below 2% since July 2021. A sustained decline in eurozone CPI could prompt the ECB to lower interest rates, exerting additional downward pressure on the euro. Since last week, EURUSD has consolidated in the 1.1110-1.1215 range. After breaking EMAs, the price awaits an additional catalyst for a bounce back. If EURUSD recovers above EMA21 and breaches 1.1215, the price could surge to 1.1270, the highest since Jul 2023. Conversely, if EURUSD breaks the support at 1.1110, the price could fall further to 1.1050.
by inkicho_exness
EUR/USD Daily Chart Analysis For Week of Sep 27, 2024Technical Analysis and Outlook: The Eurodollar has exhibited volatile fluctuations in the current trading session, encountering resistance at the pivotal Key Resistance level of 1.119 with a possible extension to retest the completed Outer Currency Rally of 1.124. This pattern reflects uncertainty regarding the currency's trajectory amidst the ongoing Dead-Cat rebound activity. The prevailing short-term buying pressure is directing the currency towards a potential downward movement to the support level of 1.111, with the prospect of further declines to supplementary support levels at 1.108 and 1.101, given the present interim price action.
by TradeSelecter
EURUSD Analysis: Slight Bearish Bias Expected (25/09/2024)The EURUSD pair continues to show signs of a slight bearish bias this week, in line with market conditions and fundamental factors. In this article, we will break down the key drivers influencing EURUSD as of 25/09/2024, along with a technical outlook. This analysis provides insights for traders and investors aiming to position themselves for potential downside movement in the EURUSD market. Fundamental Analysis: Factors Pressuring EURUSD 1. U.S. Dollar Strength The U.S. dollar has maintained its strength due to a series of factors, including recent hawkish remarks from the Federal Reserve. Fed officials have continued to emphasize the possibility of keeping interest rates higher for longer to combat inflation. This has provided significant support for the dollar, making it an attractive safe-haven asset, while simultaneously putting pressure on the euro. 2. Diverging Central Bank Policies The European Central Bank (ECB) has recently adopted a more cautious tone regarding future rate hikes. With inflation in the eurozone stabilizing, the ECB may opt for a wait-and-see approach, potentially slowing the pace of tightening or halting rate hikes altogether. This divergence in monetary policy between the ECB and the Fed is expected to contribute to further downside pressure on the EURUSD. 3. Weak Eurozone Economic Data Economic data from the eurozone remains relatively soft. The latest PMI data showed a contraction in the manufacturing and services sectors, further weakening the euro. Lower-than-expected growth forecasts and potential deflationary pressures also undermine the euro's strength. 4. Geopolitical Uncertainty Ongoing geopolitical risks, such as tensions in Eastern Europe and concerns over energy security, continue to cloud the eurozone’s economic outlook. These factors have led to capital outflows from Europe, with investors seeking the safety of the U.S. dollar. Technical Analysis: EURUSD Price Action On the technical front, EURUSD has struggled to break above key resistance levels near 1.10700, confirming the bearish sentiment. The pair has been trading in a downward channel since mid-September, and with recent price action rejecting the 50-day moving average, momentum indicators signal further downside potential. - Support Level: 1.09000 is a crucial support level to watch for EURUSD this week. A break below this could accelerate the bearish move, potentially targeting the 1.08500 level. - Resistance Level: The 1.10700 level remains a key resistance, and a move above this could invalidate the bearish outlook, though this seems unlikely given the fundamental backdrop. Outlook for the Week: Slight Bearish Bias for EURUSD Given the combination of strong U.S. dollar fundamentals, the divergence in central bank policies, weak eurozone economic data, and technical resistance, the EURUSD is likely to maintain a slightly bearish bias through the remainder of this week. Keywords for SEO: EURUSD analysis, EURUSD today, EURUSD forecast, EURUSD bearish, euro dollar, forex trading, U.S. dollar strength, ECB monetary policy, Fed rate hikes, forex market analysis, EURUSD price action, technical analysis EURUSD, eurozone economy. Conclusion EURUSD is likely to continue on its bearish trajectory, with potential downside towards key support levels this week. Traders should closely monitor U.S. dollar fundamentals, especially any new developments from the Federal Reserve, as these will play a crucial role in shaping EURUSD’s movement. Keep an eye on eurozone data releases and geopolitical headlines for any shifts in market sentiment that could impact this currency pair.
Short
by PERFECT_MFG
EUR/USD Sell to Buy idea from 1.10200This week's analysis for EUR/USD (EU) is quite interesting, as there is significant liquidity on both sides of the market. My plan is to wait for a liquidity sweep before considering trade entries. Ideally, I would like to see the price reach my 17-hour demand zone to continue the upward trend. If the price doesn’t immediately reach that point of interest (POI), I’ll look for a short-term sell opportunity from the 4-hour supply zone, but only if I get the right confirmation. While there are equal highs and Asia session highs above the supply zone, I’ll be cautious and look for additional confluences. Key confluences for EU buys: - Significant liquidity to the upside, including equal highs and Asia session highs. - A 17-hour demand zone that caused a break of structure to the upside. - This is a pro-trend idea, with buys looking more favourable. - The DXY (Dollar Index) is bearish, further supporting the bullish outlook for EU. P.S. If the price breaks structure to the upside, I’ll look for a new demand zone to buy from. There’s a lot of liquidity built up above the current price that the market may target.
Long
by Hassan_fx
EUR/USD Daily Chart Analysis For Week of Sep 20, 2024Technical Analysis and Outlook: In the current week's trading session, the Eurodollar has displayed significant volatility within the defined range of Mean Support at 1.101 and Key Resistance at 1.119. This behavior reflects uncertainty regarding the currency's trajectory amidst the ongoing Dead-Cat rebound activity. The prevailing transient buying pressure is steering the currency towards a downward retreat to the support level of 1.111, with potential further retreats to supplementary support levels at 1.108 and 1.101 in light of the ongoing interim price movement.
by TradeSelecter
EUR/USD Kicks Off the Week on a Positive Note Ahead of Crucial..EUR/USD Kicks Off the Week on a Positive Note Ahead of Crucial Fed Decision The EUR/USD pair began the week with positive momentum, hovering around the 1.1000 mark ahead of the London session on Monday. Investors are keeping a close eye on the upcoming US Federal Reserve (Fed) policy decision, which is expected to have a significant impact on the market later this week. The key question remains: will the Fed cut rates by 25 basis points (bps), or will it take a more aggressive approach and reduce rates by 50 bps? According to the CME FedWatch Tool, the odds are nearly split, with a 48.0% probability of a 25 bps rate cut at the Fed's September meeting. The market's indecision reflects the broader uncertainty surrounding the Fed's next move as economic conditions remain mixed. While inflation data has shown signs of cooling, other indicators point to a resilient economy, leaving investors to speculate on the extent of monetary easing that may be announced. All eyes will be on the Federal Open Market Committee (FOMC) press conference, where Fed Chair Jerome Powell is expected to provide crucial insights into the central bank's future stance on interest rates. Should Powell signal a more aggressive easing approach, it could weigh heavily on the US Dollar, potentially pushing the EUR/USD higher. Conversely, a more cautious outlook could lead to a stronger dollar, capping any further gains for the euro. From a technical perspective, the week begins with little change in the Commitment of Traders (COT) report, which shows that retail traders are still overwhelmingly long on the euro. In fact, retailer positioning is at its highest point since August 2023, signaling a potential reversal opportunity for contrarian traders. As the EUR/USD approaches a key supply area, a retest could trigger a pullback, with the price poised to drop if the supply zone holds. Given the heavy retail interest in long positions, we are looking for a short setup in the EUR/USD. A pullback from the current levels, especially around the supply area, could offer an attractive opportunity for bears. With the market bracing for the Fed's policy decision and retail traders heavily invested in long positions, the coming days could provide pivotal moments for the EUR/USD pair. As the week unfolds, the Fed's policy signals will be key to determining the next directional move for the EUR/USD. For now, traders should remain cautious and watch for any shifts in sentiment as the market digests the Fed's decision and the FOMC press conference. ✅ 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
2
EUR/USD Bullish Setup: Anticipating a Bounce from Key SupportHello traders! Today, I’m analyzing the EUR/USD pair on the 1-hour time frame. We’ve seen some strong movement recently, but right now, the price is approaching a critical support level. This level has held strong in the past, and based on my analysis, I believe we could see a bullish bounce from this zone. Here’s what I’m looking at: Support Level: The price is nearing support level, a key area where it has previously bounced. If the price retests this level and holds, it could signal a continuation of the bullish trend. Price Action Patterns: I’ll be watching closely for bullish reversal candlestick patterns, like a hammer or bullish engulfing pattern, to confirm the strength of the support. This would suggest buyers are stepping in, and the price could start to rise. Momentum Check: I’ll keep an eye on the overall market momentum by observing the price movement around the support zone. A slowing down of the sell-off or a shift in momentum could further support the idea of a bounce. Risk Management Strategy: To manage my risk, I’ll set a stop loss slightly below the support level to safeguard against any potential breakdown. For profit targets, I’m eyeing as the first goal, with room for more gains if the bullish momentum continues.
Long
by rebenga93
EUR/USD Daily Chart Analysis For Week of Sep 13, 2024Technical Analysis and Outlook: During the current week's trading session, the Eurodollar exhibited a modest decline, briefly breaching the predefined support level of 1.103 and decisively transitioning to the freshly established resistance level of 1.110. The transient selling propels the currency downwards to the support level of 1.101, with a potential extension to the supplementary support levels of 1.097 and 1.091 amidst the interim price movement.
by TradeSelecter
Thoughts on EURUSD before the ECB rate. H4 12.09.2024Thoughts on EURUSD before the ECB rate I expect the euro to reach 1.0950-1.10 down to the area of option hedges and profile accumulation, and then continue to grow. Of course, there may be surprises, but this is my prior view. In detail we need to keep an eye on the new option fillings, they will tell us which areas will be hedged. The market is expecting a 0.25% rate cut, but the main movement will be given at the press conference on further ECB monetary policy plans. My subscribers and I closed our sales in the private channel yesterday.
Short
by KovachTrader
EURUSD - 4H Bearish PhaseEUR/USD recently reached a key daily resistance zone, facing a strong rejection from that level, signaling potential further downside. The pair also lost the critical support zone below 1.11, consolidating under it for the past week. After this consolidation, EUR/USD has completed a pullback to the critical zone, making it technically ready to fall further. This structure offers a solid opportunity for short positions, with a clear rejection from both the daily resistance and the pullback to the previous support-turned-resistance. Fundamentally, the U.S. Dollar has been gaining strength due to rising expectations of continued rate hikes by the Federal Reserve. In contrast, the Euro has weakened amid concerning Eurozone data, reflecting slowing growth and economic challenges. The divergence between the two currencies supports further bearish movement for EUR/USD, especially as the Dollar Index continues to rise. As you can see in the chart, we previously shared a sell position at the 1.1117–1.1122 range. Now, with the technical and fundamental backdrop confirming further downside, this is a good opportunity to sell EUR/USD again, targeting further drops as market conditions remain favorable for the U.S. Dollar.
Short
by Sober_Trading