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Eurusdoutlook

EUR/USD defends 1.06, can it move up to 1.0750?Hello traders, EUR/USD has managed to defend the 1.06 level so far. Currently, on the 4Hour chart, we are seeing the formation of a bullish candlestick. So, the question is whether there will be a sustained recovery in EURUSD? The first resistance level for the EURUSD bull lies at 1.0665. If the bulls manage to break this level strongly, then there can be further gains in EURUSD. In case of the bullish scenario, I would expect price to reach 1.0760 level. As long as 1.06 level remains unbroken, I would continue to buy the dips in EURUSD
by KaltoireCapital
6
EURUSD: Strong US retail sales push the dollar to new highsThe US economic system acquired a super improve from an first rate growth in retail income in March, which contributed to a sturdy monetary enlargement and a massive strengthening of the greenback. in comparison to different principal currencies. The greenback`s upward push comes amid issues approximately China's economic system, which, despite the fact that first-area annual GDP boom of 5.3% handed expectancies, noticed zone boom and income growth. Retail income in March did now no longer meet forecasts. Furthermore, China's new domestic costs skilled their sharpest decline in 8 years and actual property funding fell almost 17% yr-on-yr. The US greenback index hit a five-month excessive on Tuesday, marking a 4% advantage during the last six weeks. This growth comes as expectancies for hobby fee cuts through americaA Federal Reserve (Fed) are shrinking, even as different critical banks are going through stress to loosen economic policy. As a result, the euro, China's offshore yuan and the British pound fell to their lowest ranges in opposition to the greenback because November. The Japanese yen additionally weakened to a brand new 34-yr low of 154 .60 in line with greenback and forex volatility measures hit their maximum in extra than months.
Short
by Chart_MasterPro
EURUSD Technical Analysis and Trade IdeaIn this video, we explore a trading approach for the EURUSD pair. Our analysis suggests a potential trading opportunity. We provide an extensive analysis of the current price trends, carefully assess the market structure, and consider the dynamics of the market. When conditions are favorable, we identify a possible entry point. However, it’s critical to highlight the necessity of employing effective risk management tactics. Please be aware that this video is designed strictly for educational reasons and is not meant to serve as financial guidance.
by fxtraderanthony
EUR/USD imminent Longs up towards 1.07000 This week's bias closely resembles that of GU, where I'm seeking buying opportunities towards a subsequent selling position. With price melting down and breaking structure to the downside, it has created numerous imbalances that need filling, prompting this bullish outlook. I'll be patient, waiting for the accumulation phase to complete along with a confirmation of change of character (CHOCH) to enter buy positions aiming for the newly established 10-hour supply zone. Subsequently, I'll look to initiate sells to continue the bearish trend downward. Confluences for EU Buys are as follows: - Price left so many imbalances above that need to be filled. - In order for price to continue the bearish trend price must pull back up. - Price is currently inside a 18-hour demand zone with a good initial reaction. - DXY is also near a good supply zone so could expect the dollar to drop a bit this week. P.S. Given the Asian low within my zone, I wouldn't be surprised if price dips further to test a deeper demand area below. Nonetheless, these long positions are merely a temporary move to realign with the prevailing bearish trend. Have a great trading week guys!
Long
by Hassan_fx
EUR/USD key S/R levels for buying and selingHello traders, EUR/USD is slowly and gradually inching upwards. Last week our buy@1.0740 worked perfectly. At the moment, I am seeing a rather interesting development on the 4H chart. EUR/USD seems to have broken out of the descending trendline resistance level. However, note that there is no confirmation of the breakout yet However, if price does break out in a bullish fashion, the next level would certainly be 1.0944. I am avoiding any entries in EURUSD at the moment, as we have CPI data and FOMC meeting minutes due tomorrow and monetary policy statement from ECB on Thursday. These events will lead to a lot of volatility and I am looking to take advantage from that.
by KaltoireCapital
21
EurUsd- 1.05 is a strong possibilityOn Tuesday, April 9th, I posted that rallies in the 1.09 zone, which represents the resistance of the falling trend line for FX:EURUSD , should be sold with a target at the 1.07 zone support level. The following day, CPI figures came in hotter than expected, triggering the anticipated drop. Now, with the pair at the support level, what can we anticipate next? Upon examining the chart, it's evident that the euro has shown weakness throughout the year, with rallies being consistently sold off. Additionally, this marks the third test of this support in 2024, and since December's high, the pattern is a descending triangle (and if we trace back from November, we could even speculate a head and shoulders pattern). Considering these factors collectively, I anticipate a break below 1.07 with a target at the 1.05 support level. Furthermore, if we consider the measured target for both the triangle and head and shoulders patterns, we might even see a drop to 1.02 in the medium term. Any rallies approaching the 1.08 mark should be viewed as selling opportunities in pursuit of a favorable risk-to-reward ratio.
Short
by Mihai_Iacob
1
Bought EURUSD@1.0735, who is with me?Hello traders, as predicted a couple of days ago in my EUR/USD idea, the resistance level of 1.0875 worked well and price fell massively after inflation data from the US came out. Currently, EUR/USD finds itself back in the support region. As the support zone has not broken yet, I have bought EUR/USD already. I recommend traders to buy EUR/USD@1.0710-1.0740 with stop loss below the 1.0680 level and TP at 1.0840, 1.09 provided the support region remains unbroken. Use proper money management, we have another important day coming up with lots of news releases.
Long
by KaltoireCapital
6
EurUsd is approaching important resistanceSince the start of the year, the price action of FX:EURUSD has been clearly confined within a descending triangle, with a base formed at 1.07. Recently, the pair reversed once again from this crucial level and, at the time of writing, is trading at 1.0856, close to the descending trend line of the triangle. A rise towards the 1.09 resistance level could provide bears with a favorable entry point for a new drop towards support. However, the negation of this scenario occurs if the price closes towards 1.1 on a daily basis.
Short
by Mihai_Iacob
4
EUR/USD rally loses steam ahead of US inflation reportThe euro's rally from the December low appears to be losing steam. Tuesday's high respected a resistance cluster including a 61.8% Fib level, high-volume node and trend resistance. A 2-bar bearish reversal (which includes an engulfing candle) only made a marginal high above Friday's high, and a bearish divergence has formed on the RSI. With CPI looming, perhaps the market will try to fill some of the liquidity gaps left during the bearish engulfing candle. And with the potential for a hotter-than-expected CPI report (and therefore a stronger dollar / lower euro), the bias is for an eventual retest of the 200-day average ~1.0832. A break beneath which brings 1.0820 and 1.080 into focus for bears.
Short
by CityIndex
Has the Market Priced In CPI Data? 🔕As we enter the 5th trading session of the week, The monthly candle and weekly candles are still bullish. The Daily candle closed bullish to begin the week(Monday) and it appears that the market has possibly priced in the not-so-great data forecasted to be released on Wednesday. The Euro went up on a Monday with inflation forecasted to increase for the USD on Wednesday. Maybe we will continue to ascend on EurUsd as the market shrugs off increasing inflation for the USD. This doesnt make sense to me because the USD is a safe haven in times of uncertainty. I'm anticpating that this early push to higher prices early in the week is a discount as the price for EU will be alot lower to end the week(like 1.0805 4hr level or 1.0771 weekly level) And this will be a 2nd consecutive month where inflation increases. The last time we had 2 consecutive months where (USD) CPI increased was September 23' and July 22'. More details below.. make sure to check out the snapshots! July 22' CPI(for June22') increase for 2 months in a row.. price dropped 100 pips the next day , pulled bac 315 pips the next 19 daily candles before dropping 750 pips across the next 34 daily candles Sept 23' CPI release (For Aug23') increase for 2 months in a row.. EU went down 280 pips in the next 13 daily candles
Short
by ShrewdCatfx
EUR/USD at a critical level, which way will it got?Hello traders, we had over 120 pips last week from out EUR/USD buy at 1.0740 level. However, since then, price has pulled back a little. The situation is a little tricky on the daily chart, as we are seeing some uncertain price action in the 100-day EMA level. So, at the current price levels, I would recommend traders to stay away from placing any new orders. My plan is to buy the dips in EUR/USD if price goes back to the 1.0770 level again. One of the most important things to ensure while trading is to be patient and avoid any sort of FOMO. This will ensure you trade only when the price reaches your preferred levels.
by KaltoireCapital
16