Eurusdoutlook
EURUSD Possible buy zone!The EUR/USD currency pair is poised for significant developments in light of upcoming news and signals from the Federal Reserve indicating the possibility of interest rate reductions. This suggests that there could be notable shifts in the exchange rate between the Euro and the US Dollar in response to these factors.
Morgan Stanley and BofA’s 2024 EUR/USD Predictions Morgan Stanely has released what they call their top trade for 2024, and it is the exact opposite of Bank of America’s call.
Analysts at Morgan Stanley think selling EUR/USD around the current level of 1.10 is the trade to make next year, with a target for the pair reaching parity by the end of the first quarter of 2024. This outlook relies on sustained economic performance of the US. They also believe that technical recessions in the eurozone, Sweden, and the UK are expected to lead their respective central banks to initiate rate cuts in the second quarter of 2024. Selling Swedish krone (which has become a top ten traded currency recently) and the British pound might also be options for 2024 too, but this was not explicitly stated by the bank.
On the other hand, Bank of America has suggested that shorting the USD is the trade to make, particularly against the Euro and South African Rand. BofA sees the potential falling interest rate in the eurozone increasing the attractiveness of euro-based stocks and other investments.
Relief Rally ↗️ with Inflation Data as Catalyst 💡This is a trade Idea inspired by this past week's bullish pin bar candle closure. The NFP and Inflation data catlyst for a higher timeframe pullback also supports this. Expected reduction in inflation from 3.7% Yoy to 3.6% Yoy during this week's news release also supports this. Two weekly candles holding/closing above 1.054-1.057 supports this. Flipping to Bullish Market structure on the Daily timeframe supports this. We have many confluences and you see the point.
EurusdWe just might see a bearish december aiming for that sell sidem liquidity....
we've come into a monthly supply zone and hoping for a reaction to confirm our bearish move in weeks to come...
EURUSD is continuing its uptrendEURUSD is continuing its uptrend. Its target area is at the 1.618 Fibo extension (price range 1.1043-1.1046). The important trend reversal area to note is at Zone 1.0872
EURUSD Outlook 2023/2024
The FOREXCOM:EURUSD has been mitigating the price zone of 1.12147 and 1.17122 since 2015, and had a rejection move from the zone on July.
On the 1W Time Frame:
1. Price did a change of character
2. Price tapped the 0.618 premium zone
There are 3 things that can happen
1. Price rejects the premium zone and pushes down
2. Price enters a more premium zone, then pushes down
3. Price breaks the structure high and pushes up
This is the overall outlook for FOREXCOM:EURUSD , check out some trading ideas that I have on my profile.
EURUSD Longs from 1.09000 up to 1.10000EURUSD is looking very good in terms of entering high quality POI's and it is following the temporary bullish trend very well. So from this we will try to catch pro trend trades up to the daily supply or ideally the 8hr supply zone on top of it. As of now, price has created a small BOS to the upside so I will be waiting for a small pull back to the 12hr demand in order to buy up.
As price Is near a decent amount of liquidity I would like to wait for a clean CHOCH and for a spring to take out any remainder asian lows for me to consider a buy opportunity. However, as there's major news this week like NFP, so I would approach any potential setup with caution and lower my usual risk size.
Confluences for EURUSD Buys are as follows:
- Temporary trend for EU is bullish and this follows the trend as well as the DXY bias.
- In order for price to make a bearish move it will have mitigate the daily above or the 8hr supply.
- There's asian high above that hasn't been taken which is liquidity that needs to get swept.
- Price keeps breaking structure to the upside and candles on HTF are very bullish.
- Momentum is starting to slow down as it has currently reacted to a 4hr supply.
- In order for price to continue going up it must come down in the form of a pullback so we can create a new leg to the upside.
P.S. The Wyckoff accumulation is still pending as I'm waiting for price to mitigate my zone, sweep liquidity and change character to the upside. I am also aware price could fall lower due to the ineffeciencies below and then tap into a cheaper zone for buys back up.
EURUSD I Pullback and more potential growthWelcome back! Let me know your thoughts in the comments!
** EURUSD Analysis - Listen to video!
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EURUSD: Potential to turn BEARISH!Thd D1 swing structure is bearish, having made a bearish BOS externally. Internally, price is bullish, having successive iBOSs to achieve the pullback to an internal LQ target.
Price has reached a premium supply zone, a high probability location to look for a shift
in the market from bullish to bearish, starting the next bear leg to make the HTF LL.
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EurUsd intraday sell setupAfter a rapid expansion to the up side . It's time for a retracement on the 4hr time frame in preparation for another expansion.
I was able to catch a sell at the turning point and now the market has presented another entry Opportunity on the same setup. We sell to 1hr sellside liquidity, after sellside has been raided we will look for lower TF confirmation for a buy
💡 EURUSD: Next predictionEURUSD has slowed down in the past session, the price has now created a railroad model on the daily, an unfavorable signal for buyers. However, this signal is still quite weak and has not changed the situation. Those with long positions can continue to hold, the target is still around 1.1000.
➡️CALENDAR FOR TODAY :
- ECB Financial Stability Review
- Unemployment Claims
- Revised UoM Consumer Sentiment
EURUSDPair : EURUSD ( Euro / U.S Dollar )
Description :
Impulse Correction Impulse , Completed " 123 " Impulsive Waves at Fibonacci Level - 61.80% or Daily Demand Zone and Rejecting with Strong Bearish Price Action with Divergence in RSI. If it Rejects then Sell after Retest
Entry Precautions :
Wait for the Breakout or Retracement
EURUSD 4H :Retest and then rise up EURUSD
New forecast
The euro/dollar pair rose in yesterday's trading and ended above the 1.0808 level, confirming the continuation of the dominance of the bullish corrective trend. so positive targets will be began by breaking 1.0882 level and reach to 1.0906 and 1.0935 .
Therefore, the upward scenario will be remain valid during coming period ,supported by moving average 50 that is continue to support the price to rise up , but right now the price need to forms the negative correction to 1.0836 and if can break it then will be continue at the negative correction to 1.0808 then will rise up , taking into account that stabilized under 1.0808 will postponed the bullish trend .
The expect range trading for today it will be between the resistance line 1.0882 and support line 1.0808.
Additionally ,Today News will affect the market .
resistance line : 1.0882 , 1.0935
support line : 1.0836 , 1.0808
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EURUSD ANALYSIS UPDATE 21/NOV/2023Now, it's obvious that the ascending channel resistance I talked about on the 4h timeframe this morning seems to be holding. You can see how the price is rejecting the resistance and has closed lower than the 1.09500 level. Also, a counter trendline I drew has been broken to the downside which acts as added confluence for a possible continuation downwards. This means there's a very high chance that the price will retest that level as resistance and continue downwards.
🦈 EURUSD todayHello trader, have a good day ♥
EUR/USD stands tall near its highest level since August, around mid-1.0900s
The EUR/USD pair enters a bullish consolidation phase during the Asian session on Tuesday and oscillates in a narrow trading band just below mid-1.0900s, or its highest level since August 14 touched the previous day.
EURUSD Long term short ideas from 1.10500 (or 1.11000)This idea is based on my higher time frame bias that I have marked out from a while back, as we are steadily approaching a key level on the HTF. I'm going to be expecting EU to melt back down towards 1.07500 or lower to fill in major imbalances that have been left from before. In addition to this, we are entering the 0.78 region of the fib range which is a more premium zone to sell.
As of now I will be waiting for price to slow down momentum and start showing some signs of weakness, in order for give us a a better sign that price is ready for a reversal. Ideally I want to wait for the 8hr supply on top of the daily however, if we see our lower time confluence i.e. Wyckoff distribution & CHOCH, I will be then looking to enter and hold on an intra-day basis.
Confluences for long term EURUSD shorts are as follows:
- EU is overall bearish on the higher time frame like the (monthly and weekly)
- This is a pro trend trade that will be following the overall market trend.
- Internal structure is also bearish as we have CHOCH on the higher time frame with a BOS.
- Price is approaching a daily supply zone that has caused a BOS to the downside.
- Price is also entering the 0.78 area of the fibonacci range good sign for a potential reaction.
- Lots of FVGs on the higher time frame below as well as major pools of liquidity points.
- Price has also swept lots of liquidity to the upside and has take out most of trend line Liq.
P.S. Personally, I see price most likely reacting off the 8hr supply above the daily, just because there was a previous consolidation that still holds some liquidity above it. Hence why I will be waiting for that to get swept to mitigate the institutional candle that was left by the 8hr POI.
EURUSD Shorts to 1.08500 (Possibly lower)My bias for this week's prediction is for EURUSD to move bearish, As it has tapped into a strong level of supply. I will be waiting for wyckoff distribution to play out in order for us to catch sells this week. Simultaneously, the dollar has also tapped in to a demand zone which is expected to initiate a bullish reaction hence why I am bearish for EU.
The 16hr supply hold a lot of precedence as not only its on the higher time frame but, it has also caused a BOS to the downside which continued the overall bearish trend. Not only that but, the zone has also swept liquidity which is a good sign that this zone will get respected.
Confluences for EURUSD Longs are as follows:
- Price tapped into a 16hr supply zone that has caused a BOS to the downside.
- Overall price trend is bearish on the EURUSD chart.
- Imbalances left below to target which hasn't been filled yet.
- Lots of trendline liquidity to the downside and asian lows that's been left.
- Dollar (DXY) is inside a 5hr demand which I'm anticipating a bullish reaction from.
- Price has steadily approached the zone with weaker bullish candles indicating that bullish pressure is exhausted and over bought.
P.S. I would love to see the asian high inside the zone get swept first in the form of a UTAD for a better confirmation of a sell but we will see what price does on Monday. Usually its a slow day however, I will be waiting for a clean CHOH on the lower time frame to give me a better insight of when price wants to expand to the downside.
EURUSD - Long after filling the imbalance ✅Hello traders!
‼️ This is my perspective on EURUSD.
Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for longs. I wait price to make a retracement to fill that huge imbalance lower and then to reject from bullish order block + institutional big figure 1.07000.
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EURUSD UPDATES WEEKLY VIEWTrade wisely, were approaching the 40%.
Im looking on short this moves on EU, Price might goes 50,
For my analysis is 40% is my key figure on.
Price Rising for over a month and keep pushing.
This is not a financial advice, this is weekly view.
Previous low is also a liquidity. Trade at your own risk.
Follow for more Weekly View on EurUsd.
(Weekly review and backtest) EURUSDMain Highlight: US’s OCT CPI(YOY) was dropped to 3.2%, almost reaching fresh low at 3.0% even interest rate stay constant at 5.5% since July 2023. Indicating FED officials may keep rate unchanged until there is evidence to prove that current interest rate unable to stop inflation rate from hiking.
(EURUSD) outlook: Bullish. EURUSD got unexpected spike last week after US inflation rate CPI data released.
Support: 1.08340
Next resistance: 1.09710
