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Eurusdtradeidea

EURUSD: The dollar steadied after a payrolls-led plunge, with maThe dollar index and dollar index futures both rose 0.1% in Asian trading after falling 0.8% last week. The greenback fell on weaker-than-expected non-farm payrolls data in April. The data reinforced expectations that a cooling labor market will give the Federal Reserve more incentive to start cutting interest rates. CME's Fed rate tracker shows traders are increasing expectations for a 25 basis point rate cut in September.
Long
by Chart_MasterPro
EURUSD Bearish Butterfly Pattern Formation @ 4-Hour TimeframeEURUSD is currently forming a Butterfly Harmonic Pattern (XABCD) on the 4-hour timeframe. This pattern is characterized by specific Fibonacci ratios between the price swings. The pattern consists of four legs: XA, AB, BC, and CD. The completion point, known as Point D, is expected to coincide with a key Resistance level. Trendline Analysis: Additionally, there is a trendline that intersects with the completion point of the Butterfly pattern. This trendline further reinforces the potential resistance at Point D and suggests a strong level of selling pressure. Bearish Momentum Expected: Based on the formation of the Butterfly Harmonic Pattern and the confluence with the trendline resistance, we anticipate a shift in momentum towards the downside. This suggests a bearish outlook for EURUSD. Entry, Stop Loss, and Take Profit Levels: Entry: We recommend taking a short position at 1.06800, which aligns with the anticipated reversal point (Point D) of the Butterfly pattern and the resistance level. Stop Loss: To manage risk, a stop loss should be placed at 1.07180, just above the recent swing high. This level provides a buffer against potential market volatility while allowing room for the trade to develop. Take Profit Targets: We have identified two take profit levels: TP-1: Set the first take profit target at 1.06400. This level corresponds to a significant support area and offers a reasonable profit target based on the expected bearish momentum. TP-2: The second take profit target is set at 1.06025, aiming for a deeper retracement. This level aligns with a previous swing low and provides a more ambitious target for profit-taking. Conclusion: In conclusion, the EURUSD pair is exhibiting signs of a potential bearish reversal as it forms a Butterfly Harmonic Pattern along with a trendline resistance on the 4-hour timeframe. Traders may consider short positions with an entry at 1.06800, a stop loss at 1.07180, and take profit targets at 1.06400 and 1.06025. It's essential to monitor price action closely and adjust positions accordingly as the trade develops.
Short
by trading_jupiter
2
EUR/USD could be due a break from its bearish drubbingHaving fallen for six consecutive days, bearish momentum on EUR/USD is beginning to fade. Tuesday's low also held above the 1.06 level and 71.6% Fibonacci level whilst RSI (14) and (2) are in oversold levels on the daily chart. The 4-hour chart shows bullish divergences on the RSIs, so the bias is to seek dips towards 1.06 for a long towards 1.0650 at a minimum. As we suspect some mean reversion higher is due - even if only temporarily.
Long
by CityIndex
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