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EUR/USD Outlook: Bearish Momentum Below Key PivotEUR/USD Analysis The EUR/USD price is currently consolidating below the pivot line at 1.0680, showing bearish momentum. If this bearish trend continues, the next movement is likely to test support levels below. Scenarios: Bearish Scenario: If the price continues to trade below the pivot line (1.0680) and breaks below the immediate support at 1.0616, it may reach down to the next support at 1.0544. A close below 1.0616 would strengthen this bearish outlook. Bullish Scenario: For a bullish reversal, the price needs to reclaim and stabilize above the resistance line at 1.0739. This move would suggest a shift towards higher targets, potentially testing 1.0861. Key Levels: Pivot Line: 1.0680 Resistance Levels: 1.0739, 1.0780, 1.0861 Support Levels: 1.0616, 1.0544, 1.0470 Trend Outlook: The bearish scenario is currently more accurate as long as the price remains below the pivot line and support levels are tested. previous idea:
Short
by SroshMayi
Euro struggling to catch a bid | FX ResearchThe euro has been getting slammed of late and is once again standing out as a clear underperformer on this Monday. There are two drivers behind the weakness worth highlighting. The first is the uncertain political climate in Germany. The German Chancellor has said he'd be open to moving up a parliamentary confidence vote by several weeks to before Christmas, potentially speeding up an early federal election. The second driver is the fear around the Trump presidency and the impact tariffs will have on the single currency. The FT reported that Robert Lighthizer could once again be appointed as the U.S. Trade Representative. Lighthizer is viewed as a staunch protectionist, which could translate to aggressive tariffs on imports into the U.S. As for the rest of the currency market, the dollar has been mostly bid, though some of the risk-correlated FX markets have been finding some offsetting demand as U.S. equities continue to push record highs. For the remainder of the day, all will be quiet on the calendar front with the U.S. bond market closed in observance of Veterans Day. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets
Republicans Retake Senate, EURUSD Holds at Critical ResistanceFxNew s—The October 23 low at 1.076 is the immediate resistance. The EUR/USD price is likely to exceed this level. If this scenario unfolds, the consolidation phase could extend to the 50% Fibonacci retracement level, backed by the bearish fair value gap area. This level provides a decent opportunity to join the bear market. Therefore, traders and investors should closely monitor the resistance area that expands from 1.081 to 1.084, backed by the 100-SMA, for bearish signals.
by FxNews-me
EURUSD_118 2024.11.07 09:29:03 Trading Signal SELLFrankPro Signal for EURUSD_118 Type: Screen Signal: SELL TP: 1.07203 SL: 1.07679 Entry Price: 1.07611 Analysis for EURUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, here are my conclusions for the EUR/USD pair: **Short-term (next few days):** * The price is expected to go down, with a potential test of the support area near 1.0685. * A break below 1.0704 could signal further declines to 1.0660 and 1.0645. * However, there is a possibility of a corrective advance, with a potential rebound from the lower border of the bearish channel and a rebound from the bullish trend line on the RSI. * The upside is capped by the 50-day Exponential Moving Average (EMA) at 1.0830, adding to the selling pressure. **Long-term (next few weeks/months):** * The overall trend is bearish, with the pair trading below a flat 100 Simple Moving Average (SMA) and a firmly bearish 20 SMA. * The ECB's cautious stance on monetary policy and weak German data suggest limited near-term support for the euro. * However, the analysis mentions a potential growth towards the area above 1.0925 following a rebound from the support area near 1.0685. * The impact of economic data and ECB policy on the pair's long-term trend is uncertain and will depend on future developments. In summary, the short-term outlook is bearish, with a potential test of the support area near 1.0685, while the long-term trend is also bearish, but with a possibility of a rebound and growth towards the area above 1.0925. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my predictions for the EUR/USD pair: **Short-term (next few days/week):** The price is expected to **go down**. The technical outlook suggests further losses, with potential to revisit the June low of 1.0666 and possibly the 2024 low at 1.0600. The pair has broken below all its moving averages, and technical indicators are firmly bearish despite being in oversold territory. **Long-term (next quarter/12 months):** The price is expected to **stay the same** or **go up slightly**. Long-term forecasts indicate the EUR/USD could trade at 1.08 by the end of the quarter and around 1.06 in 12 months, according to Trading Economics' global macro models. This suggests that the current downward trend may be reversed in the long term, with the pair potentially rebounding from its current lows. Please note that these predictions are based on the analysis provided and are subject to change as new data and events become available. Result: ST=Down LT=Up Analysis Method(2) **Short-term Analysis (Next 24-48 hours)** Based on the current market conditions and forecasts, I expect the EUR/USD price to **go down** in the short term. The bearish momentum, as indicated by the technical analysis, suggests that the pair may continue to decline, potentially testing support levels around 1.0665 and 1.0645. The strong US dollar sentiment, weak Eurozone economic data, and the upcoming Federal Reserve's decision on interest rates (expected to include a 0.25% rate cut) may further contribute to the downward pressure on the euro. **Long-term Analysis (Next week and beyond)** In the long term, the outlook for the EUR/USD pair is more uncertain. While the current bearish momentum may persist in the near term, there are potential upside risks that could lead to a rebound. If the pair holds above key support levels, some forecasts suggest a potential upward movement above 1.0925. Additionally, the impact of the US presidential election and the subsequent policy decisions may lead to a shift in market sentiment, potentially benefiting the euro. Therefore, in the long term, I expect the EUR/USD price to **stay the same** or potentially **go up**, depending on the outcome of the upcoming events and the overall market sentiment. Please note that these analyses are based on the available data and forecasts, and the actual market movements may differ. Result: ST=Down LT=Up
Short
by frankiepro
EURUSD LONG TRADE IDEAMARKET MAKERS BIAS (CFTC COT INDEX REPORT) >Commercials (Blue Line) - Still at the Bullish zone >Retailers (Red Line) - Still at the Bearish zone (Always Wrong) >Fund Managers (Orange Line) - The Trend Followers, They are rolling over positions and added long positions this week. Value Correlation vs. USD >Oversold (Bullish), The EURO is 98% Negatively Correlated to US Dollar Technical Analysis >Since our bias for the money makers and Value Correlation analysis is Bullish, therefore we use Supply and Demand to look for a reason to be Bullish which is to find a Quality demand zone >Our highlighted Weekly/Daily Demand zone has explosive imbalance candles that could mean there could still be unfilled orders that was not filled before. Disclaimer: This post is for informational and educational purposes only and should not be considered financial advice. It reflects general market fundamentals and personal speculation. Always do your own research and consult with a professional before making any financial decisions. Trade at your own risk.
Long
by TradersPod
EURUSD A Fall Expected! SELL! My dear friends, EURUSD looks like it will make a good move, and here are the details: The market is trading on 1.0904 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.0862 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
EUR/USD Continues to Face Downward PressureToday, the EUR/USD pair has seen significant volatility, with the euro continuing to face pressure due to the strength of the US dollar. The USD remains on an upward trend, fueled by expectations that the Federal Reserve will maintain high interest rates to curb inflation, especially after recent comments from Fed officials. Concerns about the global economic outlook and political instability in Europe are also contributing to downward pressure on the euro. From a technical perspective, the EUR/USD has dropped below the key support level at 1.0708, opening the door to a potential test of the previous resistance at 1.0829. However, if the pair fails to break through this resistance and faces further challenges at 1.0930, there is a real possibility that EUR/USD could break through the 1.0708 support level and continue its downward movement. Macroeconomic factors, including key economic reports from both the Eurozone and the US this week, will continue to have a significant impact on the short-term volatility of EUR/USD. In summary, the EUR/USD pair remains under downward pressure, but monitoring both macroeconomic signals and technical indicators will be crucial in determining the next market direction.
by Alisa_Rokosz