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Eurusdanalysis

Buy Zone Alert: 3 Key Levels Converge for Buying OpportunityContinuing from my previous idea shared last month (refer to the related post below), the market has played out exactly as anticipated. The sell-off occurred as expected, taking place at the Monthly 0.618% Fibonacci level. The Monthly candle closed back below the crucial 1.10 resistance level, ultimately confirming that the breakout was indeed a fake one on the Monthly charts. So, what's the next step ? At present, the market is on a gradual descent towards the 1.07 level. This trend becomes evident when you observe the momentum of price action, gauged by the size of the candles, on the lower timeframes. For a visual representation, you can check out the daily chart image below Anticipating the movement around the 1.07 mark, it's reasonable to expect a buying response due to a convergence of factors in this area. First the newly established weekly BUY/DEMAND level holds substantial weight. This very level kickstarted the upward move that led to the 0.618% Monthly Fibonacci level. The speed at which price is retracing back to this levels signifies a notable zone of interest for potential buyers. The next factor is the weekly trend line located around 1.072 marked on the chart, you will also notice price has been moving up in a ascending channel hitting the trendline then popping a new high could this happen again?? A third influential factor around this area is the Monthly support level, situated around 1.064. This level had held its ground as a pivotal support for several years, only succumbing to a breach in the past year. Considering these converging factors, my attention will be directed towards identifying buy signals on my TRFX indicator across the 4-hour to daily charts. I intend to initiate a position as price dips below 1.075, anticipating the likelihood of a more pronounced descent towards 1.06 before eliciting a response. Initially, the target for this strategy is set at the 1.10 resistance level. Subsequently, the course of action will be determined by the prevailing price movement at this juncture. A decisive breach and a MONTHLY CLOSE above 1.10 would suggest an upward trajectory towards 1.15. However, if 1.10 proves to be a resilient barrier once again, the possibility of a downward move towards parity cannot be dismissed. To grasp the background of the sell concept from the prior month, I encourage you to refer to my linked post.
Long
by TheFxAce
29
EUR/USD Faces Potential Losses Below 200-Day SMA Amid Weaker PMIThe EUR/USD currency pair is testing the critical 1.0800 region, with potential further losses expected below the 200-day SMA. Preliminary PMI data shows manufacturing resilience but weakness in services in key Eurozone countries. A soft technical outlook and extended losses near the 200-day moving average underline the pair's vulnerability. Key support and resistance levels must be closely monitored, as the current trend indicates a continued downward trajectory. Market sentiment and economic data are driving these dynamics. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Downward TRADE SIGNAL: Sell 👉ENTRY PRICE: 1.0800 ✅TAKE PROFIT: 1.0750 ❌STOP LOSS: 1.0835 ANALYSIS: With the combination of soft PMI data and a weak technical outlook, the EUR/USD pair seems set to continue its downward trend. The significant 200-day SMA has been tested, and a breach below this level could instigate further losses. Support levels identified at 1.0750/1.0775 and resistance at 1.0835/1.0845 set clear parameters for the trade. FINAL THOUGHTS: The current market sentiment and technical analysis point toward a potential sell opportunity for EUR/USD. A well-defined trade plan, with a close watch on key support and resistance levels, will be essential in navigating this opportunity. The trade reflects both immediate market reactions and future financial implications, demanding a strategic and vigilant approach.
Short
by RichDadph-FX
EURUSD Technical Analysis and Trade IdeaThe EURUSD has exhibited a bearish trend over an extended period. As we approach high-impact calendar events today that hold the potential to sway the euro's performance, an uptick in market volatility is anticipated. I am actively identifying potential entry levels, and my attention is fixed on a critical resistance threshold. If today's events result in negative data, there's a likelihood of witnessing an upward liquidity sweep towards the resistance level outlined in the video, offering a potential selling opportunity. It's important to note that all details are explained in the video; however, this content should not be misconstrued as financial advice.
Short
by fxtraderanthony
1
DeGRAM | EURUSD short from kill zoneEURUSD is moving in a descending channel. It bounced off the support, following the bullish divergence. The market is in a bearish trend, so there is a kill zone where we have a fibo cluster and round number 1.09100. On the daily timeframe, we have doji bars indicating indecision or consolidation. We expect a rebound from the kill zone. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
8
EURUSD Technical Analysis and Trade IdeaThis video provides a quick analysis of the EURUSD. The currency pair has been experiencing a notable downward trend marked by considerable momentum. Throughout the video, we discuss the trend, support and resistance levels, price action, market structure, and a potential trade opportunity. It's important to emphasize that this content is strictly intended for educational purposes and should not be interpreted as financial advice.
Short
by fxtraderanthony
3
EURUSD 4H SHORTSAs per my previous post I am currently bearish on EURUSD, at least on the 4H. Price delivered nicely to the previous target and it now seems to be retracing. I have highlighted 2 areas of interest where I expect price could bounce off and continue its bearish push. The plan is to wait for price to tap into those zones and then switch to a lower timeframe to look for entries. Keep in mind price could just as well move much higher and I would easily switch my sentiment if price breaks above the higher zone.
Short
by udonahi
EU - Weekly Timeframe Analysis (ICT)Price displaced up, to and through the NWOG, stopping almost exactly the top on the weekly timeframe before getting rejected almost just as quickly as it got there. The previous week traded into a weekly FVG above, and in IOFED fashion it displaced back down to a weekly iFVG. Currently, price is at equilibrium and could go either way from here. I will be waiting to see if price trades through the iFVG below, or back higher to use the previous FVG as possible support. Only time will tell.
by Road_2_Funded
EU - Monthly Timeframe Analysis (ICT)Last month we saw a sharp rejection after taking out a monthly high and monthly open. Currently no body has closed below the monthly FVG/Sibi. I would be interested to see if price is drawn to take out the previous month's low, and if so, how does it react afterwards. If it takes out the second monthly lows, then the monthly FVG/Sibi would be a nice objective. Price seems to be delivered efficiently at the monthly -OB, so I would be curious to see if price will be drawn back up there for a higher target. Overall, no solid bias on my side.
by Road_2_Funded
1