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EURUSD

#EURUSD - 09122024I was more bearish EURUSD last week towards the end of the week. On Friday it made a new high before coming down. Price action points to the downside on daily, though on weekly it is a doji, which IMO could indicate just a consolidation after the previous up move. I will be looking for downside before any bullish confirmation (that is, could see buyers come in later in the week). For today, a re-test and rejection off the PZ could see a move lower to target 1.0515 and 1.0490.
by FadeMeIfYouCan
Bearish drop?The Fiber (EUR/USD) is reacting off the pivot which acts as a pullback resistance and could drop to the 1st support level. Pivot: 1.0603 1st Support: 1.0332 1st Resistance: 1.0780 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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by ICmarkets
Heading into 50% Fibonacci resistance?EUR/USD is rising towards the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.0588 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retraecment. Stop loss: 1.0629 Why we like it: There is a pullback resistance level. Take profit: 1.0530 Why we like it: There is an overlap support level that aligns with the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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by VantageMarkets
1
EURUSD possible meltdownEURUSD has been moving bearish for a while now, and has just recently made it back towards a very deep premium zone. After a massive break of structure on the 4h timeframe, price preceded to retrace and accumuulate lots of internal range liquidity in the form of highs and a trendline as highlighted. We just saw that all that liquidity was taken out after the news events on Friday. Price gave us a shift in market structure on the internal structure after mitigating a supply zone that was left behind during the previous expansion. This now gives us a confirmed opportunity to enter in on the possibly-to- continue bearish move to go and take out the latest weak low.
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by BlackTygaTrades
EUR/USD moving towards 1.02!As of December 8, 2024, the EUR/USD exchange rate has shown significant volatility, influenced by mixed economic data and central bank monetary policies. Recently, the exchange rate hit multi-year lows, bottoming out at 1.0332 on November 22, followed by a rebound that brought the pair to fluctuate around 1.0570. The Dollar Index (DXY) declined after initial jobless claims rose to 224,000 in the week ending November 30, compared to 215,000 in the previous week. However, the Michigan Consumer Sentiment Index for December showed an improvement, indicating increased consumer confidence in the U.S. economy. The Eurozone economy has shown signs of slowing, with Germany’s manufacturing PMI declining and a contraction in France's services sector activity. This data highlights economic weakness that could influence future decisions by the European Central Bank (ECB). The market currently sees a 70% probability of a 25 basis-point rate cut by the Fed in its December meeting. Historically, December has been a positive month for EUR/USD, with an average return of 1.23% over the past 50 years. However, current economic conditions and geopolitical uncertainties could limit this seasonal trend.
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by Forex48_TradingAcademy
1
EURUSD 8/12/24This week, with Euros to the U.S. dollar, we’ve seen price pull back to the highest area highlighted in last week’s markup. It took out the liquidity high we placed below it while also mitigating some of our longer-term points of liquidity. We’ve now identified several points of liquidity lower down, one being at the base of the last upward move. This move originated from the area we highlighted as a potential zone for bullish price action. Despite the significant upward movement, our higher time frame bias maintains a bearish narrative, indicating that money is still flowing out of this market, pushing prices lower. As shown on the chart with the indicator applied, we are now on the 4-hour timeframe. A "money-out" area has been formed, and we are watching for price action to follow this trend, targeting the liquid lows we have marked. This setup points to a sell opportunity at the start of this market session, with the expectation that price will continue to move bearish throughout the week. Stick to your risk and follow your trading plan.
by PipSurfingSociety
GBPAUD - 4 Year Plan. Over 8,000pips To Be Made! Here we have the 2week chart of GBPAUD. Wave A = 5 wave Leading diagonal. Wave B = Complex WXY correction (3x3x3) Wave C = Expecting 5 Waves We are currently on final part of Wave B. As mentioned above, Wave B is a WXY correction so each part has 3 subwaves. We are in Wave Y, subwave B. We believe the top has been made for wave subwave B and so we can look to trade the minor wave c (red move) with stops above the current highs. GBPAUD 2D Chart Trade Idea (Red Move): - Risk entry on market open - Stops above invalidation level - Targets: 1.915 (800pips), 1.86 (1400pips) Once the red move is done, we can focus on the blue move. Goodluck and as always, trade safe!
by WicktatorFX
2
EURO - Price can enter to resistance area and then start to fallHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price declined inside falling channel, where it bounced from $1.0580 level and fell to $1.0460 level. Then price broke this level and fell to $1.0330 points, thereby exiting from channel, but then it made upward impulse. Also, Euro made a first gap, after which started to trades inside flat, where it at once made retest and started to grow. Price rose to $1.0580 level, some time traded near, and then dropped to support level, making a second gap. Next, price in a short time rose back to resistance level, made a fake breakout, and now trades below in flat. Possibly, Euro can enter to resistance area again and then start to decline to $1.0500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
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by WalterMoon
2
Wave Five Down Ahead!!!I identify a clear double ZZ(zigzag) pattern rising from the low made on November 22 of this year. There are multiple reasons to believe the move is over we are in for a downtrend. From a momentum standpoint, we can see that the second swing-up in this move failed to exceed or even match the one of the first. The slope of the second swing is also more slanted to side, indicating a lose of buying pressure, we'd ideally like to see the price pick up momentum as we move in the second swing in a move. For the most part, the price has moved above the trend line traced connecting the lows of the move, but we have to notice we did have a slip below for a few hours before resuming above it. A move and close below this line at Sunday open will throw more solidity to this scenario. Yes this pattern can also be read to be interpreted in a bullish way if we think that it might be creating a sequence of ones and twos before third move explodes up but given the trend we are traling, which is bearish, and the other factors mentioned, I lean into the bearish scenario. Finally, the timing of this continuation down can be tricky but I believe that the volatility on Friday (likely due to NFP) nudged the price to come and take the liquidity stuck at around the 1.06315 area as highlighted by the orange circle, as well as inducing a lot of buying by breaking above those corrective levels. All that said, nothing matter if we see price break above 1.063 which was the high set on Friday. Hsppy Trading :)
by HydraFinance
EURUSD Under Pressure! SELL! My dear friends, My technical analysis for EURUSD is below: The market is trading on 1.0566 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.0523 Recommended Stop Loss - 1.0592 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
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by AnabelSignals
1
EUR/USD: Diverging Economic Realities Point to Further WeaknessEUR/USD: Diverging Economic Realities Point to Further Weakness The EUR/USD currency pair faces mounting pressure as economic data and central bank commentary from both sides of the Atlantic paint contrasting pictures. With the year-end approaching, traders are navigating through a mix of historical trends, updated macroeconomic indicators, and shifting monetary policy expectations. --- Eurozone: Fragility Persists Industrial and Consumer Weakness Germany's 1.5% MoM decline in industrial orders, though marginally better than expected, reflects ongoing struggles in Europe's largest economy. Additionally, retail sales in the Eurozone fell by 0.5% MoM, highlighting a weak consumer spending environment that continues to drag on growth prospects. PMI and GDP Concerns The Composite PMI edged up slightly to 48.3, but contraction persists, underscoring the broader economic challenges in the region. Italy's downward revision of GDP forecasts further dampens sentiment, increasing the likelihood of more accommodative measures from the European Central Bank (ECB). ECB's Dovish Tilt ECB policymakers, including Robert Holzmann, have signaled a potential rate cut in December, reflecting a shift towards easing amid the Eurozone's persistent economic struggles. However, political instability, such as France's no-confidence vote against President Macron, adds another layer of uncertainty to the region's economic outlook. --- United States: Resilience Amid Inflation Challenges Economic and Labor Market Data The U.S. economy continues to show signs of resilience. Durable goods orders rose 0.3% and construction spending increased by 0.4%, aligning with expectations. Despite a slight drop in the ISM Services PMI to 52.1, the economy remains in expansion mode. The labor market also remains a pillar of strength: - Nonfarm Payrolls: 227k (forecast: 220k, previous: 12k, revised: 36k). - Unemployment Rate: 4.2% (forecast: 4.1%, previous: 4.1%). - Average Earnings YoY: 4.0% (forecast: 3.9%, previous: 4.0%). While layoffs have ticked up slightly, strong payroll growth and stable wages suggest continued labor market robustness, albeit with signs of gradual cooling. Fed's Monetary Policy Path Fed officials, including John Williams and Mary Daly, have hinted at potential rate cuts in 2024, but progress on inflation appears to have stalled, as noted by Fed Governor Michelle Bowman. Market sentiment is shifting rapidly—traders now see an 85% probability of a Fed rate cut this month, up from 67% before the November jobs report. Short-term interest-rate futures have surged, reflecting growing expectations of a dovish pivot. However, the Fed remains cautious, balancing inflationary risks with economic stability. --- Inflation and Consumer Sentiment The University of Michigan's latest data reinforces the U.S. economy's resilience: - 1-Year Inflation Expectations: 2.9% (forecast: 2.7%, previous: 2.6%). - Consumer Sentiment Prelim: 74.0 (forecast: 73.2, previous: 71.8). Elevated inflation expectations and improving consumer sentiment contrast with the Eurozone's gloomy outlook, further strengthening the dollar's appeal. --- EUR/USD Outlook: Bearish Bias Remains Intact Despite historical trends that favor the euro in December, the current economic backdrop presents significant challenges for sustained appreciation. Weak Eurozone data and a dovish ECB stand in stark contrast to the U.S. economy's relative stability and the Fed's measured approach. Key Factors Driving EUR/USD: 1. Diverging Data: Strong U.S. labor and inflation figures versus weak Eurozone performance. 2. Monetary Policy: Fed's cautious flexibility versus ECB's dovish signals. 3. Sentiment Shift: Rising probability of U.S. rate cuts but with a stronger baseline economy. While seasonal trends may provide temporary relief for the euro, the broader trajectory points downward. Traders should focus on macroeconomic developments and central bank guidance as the primary drivers for the pair in the coming weeks. The euro's path to recovery remains steep, with the U.S. dollar maintaining the upper hand in the current environment.
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by InvestMate