Eurusdlong
EURUSD,🟢Is it also bullish? (Read the caprion)
Well as you can see, the market structure is bullish now and the price had a deep retracement move to the extreme bullish order block.
In addition, we can see the price created the liquidity above the order block that makes the demand zone more valuable.
As a bullish target, we can define the liquidity above the equal highs as a first target and also we can expect the price to break the previous high.
💡Wait for the update!
🗓️29/01/2024
🔎 DYOR
💌It is my honor to share your comments with me💌
EurUsd could resume its up trendIn the past two weeks, EUR/USD has been very choppy.
In fact, the pair has remained relatively unchanged in terms of price since the beginning of the year.
Upon examining the chart, we notice that although the pair has reached new lows, these were very close to each other and were quickly reversed.
This type of price action typically suggests a medium-term reversal, which could indeed be the case for EUR/USD. Confirmation of an upside reversal would occur if the pair stabilizes above the 1.09 zone.
In such an instance, reaching the 1.12 zone could be feasible in Q1.
Stuck in Limbo: A Leap to 1.15 or a Slide to 1.05 on the Cards?
The EURUSD has been stuck in a range between 1.05 and 1.10 for around a year now. We're left wondering: could we see a breakout towards 1.15, or will it drop back to the bottom of the range at 1.05? What happens as the price dips below 1.08 could be crucial.
Take a peek at the daily chart below. It shows us inching back down to an untested weekly BUY/DEMAND zone. This is where we last saw the price climb above 1.11 before it sharply dropped back within the 1.10 range.
As the price makes its way back to this BUY/DEMAND zone, the selling momentum isn't all that fierce. Each time the price dips, buyers are quick to jump in. This might be hinting that big players are quietly building buy positions, possibly to break past 1.10 and head up to the 1.15 Monthly SUPPLY/SELL zone.
Or they could just be waiting for this weeks news events??
My plan is to wait for the price to fall into the buy zone below 1.08, then look for a BUY signal on my TRFX indicator on timeframes above 6 hours.
The first target for this position is the 1.10 area. I'll be keeping an eye on the momentum as we near 1.10. If it's strong, it might indicate buyers are targeting a move above the 1.11 high.
However, if there's a clear break and close under 1.07, this idea won't hold, and the price will likely move back down to the bottom of the range at 1.05, which could also present buying opportunities.
With the FOMC and NFP events coming up, these could be the catalysts for these moves.
That's my view on it – hope you found it useful.
EUR/USD:Analyzing Impact of FOMC Decision and Powell's RemarksEUR/USD: Analyzing the Impact of FOMC Decision and Powell's Remarks
The EUR/USD experienced a notable reversal following the Federal Open Market Committee (FOMC) release, as Chairman Jerome Powell's remarks influenced market sentiment. This article delves into the aftermath of the FOMC decision, the Eurozone's recent inflation data, and the upcoming economic indicators influencing the EUR/USD outlook.
FOMC Decision and Powell's Remarks:
The FOMC opted to keep interest rates unchanged, aligning with widespread expectations. Powell's press conference introduced a cautious tone, emphasizing the need for "greater confidence" in inflation reaching the 2% target before considering rate cuts. While a March rate cut is not the base case, Powell's comments triggered increased demand for the US Dollar and impacted Wall Street.
EUR/USD Technical Analysis:
Despite the initial bearish impulse, the EUR/USD found support around the 1.08000 level. The subsequent bullish candle indicates an attempt to recover lost ground. A long-term bullish forecast is maintained on the H4 timeframe, emphasizing the potential resilience of the Euro against the US Dollar.
Eurozone Inflation Data:
The Eurozone's preliminary estimate of the January Harmonized Index of Consumer Prices (HICP) showed an annual rise of 2.8%, in line with expectations. The core annualized reading, although slightly easing to 3.3%, remained above the anticipated 3.2%. This data provides insights into the inflationary pressures within the Eurozone.
US Economic Indicators:
In the United States, the January Challenger Job Cuts revealed a significant increase, with employers announcing 82,307 cuts compared to December's 34,817. Later releases, including Initial Jobless Claims, Q4 Unit Labor Costs and Nonfarm Productivity, and the January ISM Manufacturing PMI, will be closely watched for their impact on the labor market and overall economic health.
Upcoming Nonfarm Payrolls (NFP) Report:
As employment-related figures take center stage, the market awaits Friday's NFP report. These indicators contribute to the broader understanding of the US labor market and could influence the trajectory of the EUR/USD pair.
Conclusion:
The EUR/USD's response to the FOMC decision and Powell's comments reflects the intricate dynamics between major central bank policies. With a focus on upcoming economic indicators, including the critical NFP report, traders will navigate evolving market conditions and potential shifts in the currency pair's trajectory.
EURUSD Looking BullishThe EURUSD is currently situated in the Daily Demand area, signaling a possible dominance of buyers. The existing upward trend remains intact unless there is a break below the critical Higher Low level at 1.07250.
Being within the Daily Demand zone, the EURUSD indicates a positive outlook for buyers, with the upward trend likely to persist as long as the crucial Higher Low support at 1.07250 remains unbroken.
EURUSD Possible bounce ? The EURUSD is presently within the Daily Demand area, indicating potential buyer dominance. The prevailing uptrend persists until a breach of the 1.07250 Higher Low occurs.
Currently residing in the Daily Demand zone, EURUSD suggests a favorable scenario for buyers, maintaining the upward trend unless the crucial Higher Low at 1.07250 is breached.
I'd like to hear your insights on this currency pair.
EURUSD On the way to 1.10Nice breakout and pump on EURUSD. My plan is going well, and i think it's time for EU to pump. My first taget is 1.10. I exclude a retest of this local low, but we could maybe see a pullback to 1.086 before bouncing up again.
EUR/USD: Strategic Insights - Bullish Patterns - FOMCThe EUR/USD pair has embarked on the final day of January with a notable bullish impulse, setting the stage for potential market shifts during the London session. Wednesday's Asian session witnessed another test of the crucial 1.08000 support level, marking a strategic entry point. The price action suggests the emergence of a Double Bottom setup, with indicators such as a stochastic RSI divergence on the 4-hour chart within a bearish channel and a recent rebound off a daily dynamic trendline adding to the intrigue.
On the 1-hour timeframe chart, the Euro (EUR) has initiated a bullish move from the 61.8% Fibonacci area. This development potentially serves as a confirmation pattern aligning with our earlier double bottom thesis observed on the 4-hour timeframe.
Quasimodo Bullish Pattern ( Reversal )
However, as the market dynamics unfold, various factors are contributing to the pair's movements. The JOLTS report released on Tuesday indicated an unexpected increase in US job openings to 9.02 million in December. This unforeseen strength in the labor market may influence the Federal Reserve (Fed) to refrain from initiating interest rate cuts in the first quarter, lending support to the resilient US Dollar (USD). Geopolitical tensions in the Middle East and concerns about China's economic challenges are additional elements boosting the safe-haven appeal of the USD and exerting pressure on the EUR/USD pair.
Despite the prevailing headwinds, the recent dip in US Treasury bond yields might temper the enthusiasm of USD bulls, particularly with the highly-anticipated FOMC monetary policy decision looming on the horizon. Concurrently, uncertainty surrounding the European Central Bank's (ECB) potential interest rate adjustments could act as a tailwind for the Euro (EUR). This complex interplay of factors might curtail further depreciation of the EUR/USD pair, aligning with our optimistic outlook and anticipation of a bullish position on the Euro.
As we navigate the month-end market swings, traders are advised to remain vigilant, considering both global economic indicators and geopolitical events that could influence the currency pair's trajectory. The balance of these factors will likely shape the EUR/USD landscape in the coming sessions, making strategic positioning and risk management crucial for traders seeking opportunities in this dynamic forex market.
Our Idea:
Long positions above 1.06700 with entry at 1.08000 and targets at 1.1000 & 1.1150 in extension.
EURUSD Will Grow!EUR-USD broke out of
The narrowing wedge pattern
To the upside and the price
Is now going up again
So I will be expecting
A local move up !
EUR/USD Faces Pressure Amidst ECB Remarks and FOMC AnticipationEUR/USD Faces Pressure Amidst ECB Remarks and FOMC Anticipation
EUR/USD experienced a decline on the last Monday of the month, closing near the psychological level of 1.08000. The downward pressure was influenced by remarks from the European Central Bank (ECB) and the looming Federal Open Market Committee (FOMC) meeting. The breach of the dynamic trendline and a dip below the 61.8% Fibonacci level placed the price just beneath the 78.6%, within the range and approaching the 88.6%.
Technical Indicators:
Stochastic indicators signal oversold conditions, accompanied by a slight divergence. The potential policy shift hinted by the ECB has prompted a decline in the Euro, with market focus now shifting to the upcoming Fed decision. The recent strong economic growth and inflation in the US present a challenging decision for Powell and the Federal Reserve.
Market Dynamics:
Buyers are striving to maintain the exchange rate above the 1.0800 level in anticipation of Wednesday's FOMC decision. Despite a drop in US Treasury yields, USD bulls are not finding the push they need, resulting in the EUR/USD trading at 1.0809, down 0.39%.
Outlook:
The focus remains on buying opportunities for EUR/USD at a discounted exchange rate, anticipating a potential increase in value. Traders are advised to stay vigilant for market developments and the outcome of the FOMC decision, as it could significantly impact the direction of the currency pair.
Our preference
Long positions above 1.06700 with entry at 1.08000 and targets at 1.1000 & 1.1150 in extension.
EURUSD Possible Falling Wedge BreakHi Traders!
A falling wedge is forming on the EURUSD 4H chart, and we could have a breakout soon.
Here are the details:
The market has found support and resistance at both the trendline support and trendline resistance of the wedge, as the market is looking for a direction.
Looking at the price action, it looks bullish; we have had multiple tests at the trendline support and have broken above the 20 EMA. The market is currently on the trendline resistance, and we are looking for a break and a close above the trendline.
As long as the market stays above the 20 EMA, our view will remain bullish. We expect some more consolidation before a possible attempt at the trendline break.
Preferred Direction: Buy
Technical Indicators: 20 EMA
Resistance: 1.08501
Support: 1.07960
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BluetonaFX
EURUSD Looking BullishIn our examination of EURUSD, it's crucial to emphasize the existence of a double bottom pattern.
This pattern, combined with robust support observed within the Fibonacci levels ranging from 0.5 to 0.6, amplifies the importance of the current scenario. It indicates a compelling scenario for a potential upward trend, potentially leading to a substantial gain in pips.
Keep an eye out for further updates, and as customary, approach your trades with assurance.
Pin rejections on demand zone |EURUSD potential riseEURUSD took out sell side liquidity (1.08445) and also buy side liquidity (1.09162) thus creates a demand zone (1.08396 - 1.08396) respected with two pin rejection without liquidating.
however i expect price to rise to 1.09332 as far as the demand zone remains in control.
EURUSD LONG 30 JAN 2024Price is approaching strong support level at 1.0780 (Daily swing level).
Price moves in falling wedge pattern for the last few days and expected to break above.
Buyers are not letting the price to close lower which can be seen for few days now.
With upcoming strong US news, we can expect price to go further low before continuing the up move.
EURUSD → BUY SIGNALBuy opportunity in the FX:EURUSD with a target at 1.08400 for a profit of 40 pips.
EURUSD - Let's go higher now ✅Hello traders!
‼️ This is my perspective on EURUSD.
Technical analysis: As you can see in my previous analysis price delivered as expected. Now I expect bullish price action after filling the imbalance and rejecting from bullish order block + institutional big figure 1.08000.
Fundamental news: This week is full of news in USA. Firstly on Wednesday we have Interest Rate followed by FOMC Conference, then on Friday NFP and Unemployment Rate. Pay attention to the results in order to validate the analysis.
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EURUSD - Downside to bullish order block ✅Hello traders!
‼️ This is my perspective on EURUSD.
Technical analysis: Here we have pretty the same scenario as on GOLD, Price rejected from bearish order block so I expect price to drop in order to fulfill the imbalance. My target is institutional big figure 1.08000 from where I look for a long position.
Fundamental news: Upcoming week is full of news in USA. Firstly on Wednesday we have Interest Rate followed by FOMC Conference, then on Friday NFP and Unemployment Rate. Pay attention to the results in order to validate the analysis.
Like, comment and subscribe to be in touch with my content!
EURUSD Weekly outlookHere is my weekly outlook on EURUSD. I expect a weakness on the dollar, and a bounce on the EURUSD. Actually we are trading on the short-term trendline, and considering the bullish divergence we have on 4hr timeframe, we can expect a pullback targeting the 1.10 area
EURUSD M15 / Long Trade Active ✅💲Hello Traders!
I executed a long trade on EURSUD M15 as I saw a confirmation of bullish domination on a small time frame.
I expect an increase until the OB M15.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective.
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EURUSD POSSIBLE BULLISH PUSHHello Guys
the major trend on daily time frame is still bullish but the minor trend is still bearish it looks like its about to reverse soon after the formation of the pattern
EURUSD Longs from 1.08300 or 1.08000 back upThis week's bias for this pair aligns with GU, and I'll be aiming to initiate long positions from the demand levels positioned just beneath the current price. Whether it's from the nearby 2-hour demand zone or the 10-hour demand zone situated below, my objective is to buy back up to a supply level or potentially target the equal highs positioned above.
Ideally, I'm hoping for price to form a Wyckoff accumulation within my designated demand zones and provide a strong confirmation signal. If this doesn't happen, I'll wait for that zone to be breached, anticipating the spring to occur within the more favorable 10-hour demand zone.
Confluences for EURUSD are as follows:
- Price has been temporarily bullish to the upside and the 10hr demand zone caused BOS.
- I will be anticipating a Wyckoff accumulation to start formulating within my demand region.
- A pullback has been initiated from the reaction of the 6-hour supply zone.
- Lots of liquidity to the upside in the form of Asian highs and equal highs.
- Dollar (DXY) is looking to be bearish so I'm expecting this to be bullish.
P.S. While I maintain a bullish stance on this pair, I wouldn't be caught off guard if the reaction from the 6-hour supply zone triggers further downward movement, potentially breaking the structure to the downside. In such a scenario, I'll be more inclined to explore selling opportunities.
LAST WEEK OF JANUARY LETS HAVE A GREAT TRADING WEEK!
🚀EURUSD is Ready to GO UP🚀🏃 EURUSD is moving near the 🟢 Support zone($1.0800-$1.0756) 🟢.
🌊According to the theory of Elliott waves , EURUSD seems to have completed its five downtrends .
💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys .
🔔I expect EURUSD to rise at least to the end of wave 4 at the 🔴 Resistance zone($1.0916-$1.0880) 🔴 in the coming hours or the coming week .
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).
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