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EUR/USD Daily Chart Analysis For Week of Nov 8, 2024Technical Analysis and Outlook: The Eurodollar has resumed its downward trend with notable intensity, completing an inner currency dip at 1.075 and stopping just short of the critical support level at 1.068. It is anticipated that the Euro will continue its decline, potentially retesting the completed Inner Currency Dip at 1.060 and reaching the next significant target of 1.054. While this downward movement is of considerable importance, it may also instigate a rebound, guiding prices back to the newly established resistance level at 1.080.
by TradeSelecter
EUR/USD 1H Chart Analysis FX:EURUSD This chart presents three speculative scenarios for the EUR/USD 1-hour timeframe. Please note that these are purely speculative and not guaranteed outcomes: Scenario 1 (Downtrend Continuation): If the price fails to hold support around the current level, we could see a further decline, as indicated by the green arrow. This would suggest a bearish continuation, possibly targeting lower support zones. Scenario 2 (Moderate Bullish Rebound): If the price finds support here and reverses, it might climb to the first order block (OB 1H) area, indicated by the white arrow. This scenario suggests a moderate retracement. Scenario 3 (Strong Bullish Rally): In this more optimistic scenario, the price could rally significantly and reach the upper resistance level around the OB 1H area above, as shown by the blue arrow. The RSI indicator at the bottom shows a recent downtrend with possible oversold conditions, which could indicate a potential for reversal. These scenarios are speculative and should not be taken as certain information or financial advice. Always consider the risks and conduct your own analysis before making trading decisions. FX:EURUSD
Short
by yashida
Current Market ContextThe EUR/USD market has been in a downward trend, but recent price action below the true year open suggests there could be a potential bullish incentive forming. This dip may attract buyers to rebalance the 4-hour Fair Value Gap (FVG) above, signaling a possible retracement. At this stage, there’s no confirmed trade setup, but staying patient and waiting for the price to approach and react to the 4H FVG and order blocks could provide clearer signals. If strong bullish behavior develops in these areas, a retracement trade might align with a potential shift in short-term momentum. Have a great weekend, and let’s see what opportunities Monday holds! Follow me for more trade ideas 🤝
by MotesTrades
EURUSD Trading JournalEURUSD Trading Journal Nov 9 Previous weeks review. Wild week. To have discipline to stay to the side lines. By Friday Price had straightened out. On the weekly Price is in a Premium, parent bias is bearish. This week Price broke market structure delivering lower prices. Price closed in a deep discount on the hourly TF closing on the .25 level of the HTF Daily BISI and creating equal low. Next week I suspect that Price could come up a rebalance the 4H FVG and could reach 1.08086 for the high closing this weeks NWOG even though I am bearish.
by LParnell
EURUSDSentiments - In recent Presidential Race Trump win which have strong posstive affect to USD - Today is Friday Possible Trader are closing their position which may reach the near Support Reason for Entry in Daily Timeframe there is Fair value gap also daily swing, also looking in 1hour time frame there is also fair value gapand CISD break, and in 15 minute where i enter the trade the CISD break and confirm Trade Plan I have four entry and my position is not just big because im starting, my stoploss are above the swing where the trade is invalided if it goes there and i have four TP area and each of them is in near swing and POI daily
Short
by manlagasca18
1
Euro-dollar might have found a floor for now around $1.07Apart from the dollar’s general strength in the aftermath of Donald Trump’s clear win, the collapse of the German coalition government has also affected the euro negatively. Markets are currently pricing in a drop to 2% for the main refinancing rate by June 2025 while Fed will probably remain about double that then according to CME FedWatch. 6 November’s drop was extremely sharp as the results of the American elections started to show a clear win for Mr Trump. As expected, $1.07 has held as a support for now but is very likely to be tested again in the next week or so. $1.07 is an important support primarily because that area was the source of the uptrend in July-August and because of the presence of the 100% monthly Fibonacci retracement. Given the fundamental outlook, it’ll probably be broken sooner or later, but how soon depends on the reaction to inflation on 13 November. The upside seems to be quite limited in the near future. The attempt to move back above $1.08 on 7 November was rejected but if American inflation next week is lower than expected there might be a retest of the 200 SMA around $1.087. This is my personal opinion which does not represent the opinion of Exness.
by Michael_Stark_Exness
EUR/USD 1-Hour Chart Breakdown🚀 EUR/USD 1-Hour Chart Breakdown 🚀 Current Price Levels: Right now, EUR/USD is around 1.0777. Key levels to watch include 1.08108 (resistance) and 1.07463 (support). These levels could be crucial for breakouts or reversals. Recent Trend: We had a significant drop, followed by a slight recovery that seems to be consolidating. It looks like price is moving within a range between 1.07463 and 1.08108. Potential Moves: Bullish: If we break above 1.08108, it could signal more upside momentum. Bearish: If it drops below 1.07463, the downtrend might continue, targeting lower levels like 1.07178. For now, it's in a bit of a consolidation zone. Keep an eye on those support and resistance levels to catch any big moves! 📊👀
by mubeenbinsaddiq
EURUSD map: Down to 1.04-1.00 Then Up to 1.16-1.21EURUSD is in the second leg down to complete a complex correction (red down arrows). There are three crucial target points for drop to watch: 1) Valley of red leg 1 at 1.0448 and 50% Fib at 1.0406 2) 61.8% Fib at 1.0200 3) Touch point of the throwback to broken trendline around parity Next is the reversal to upside within the large leg 2 up (blue up arrows). The possible targets depend on the depth of the current drop, the deeper the lower the upside target. From the first point of drop EURUSD could hit 1.21 area. From the lowest valley of parity it could reach 1.16 handle.
by aibek
Post-Election and FOMC Impact— EURUSDEURUSD Breakdown Analysis Date : November 7, 2024 Current Level : 1.0740 Forecasted Targets : 1.0800 (Resistance) and 1.0660 (Downside Target) --- Overview: EURUSD saw a significant drop yesterday, largely due to market reactions to the U.S. election uncertainty. Investors flocked to the dollar as a safe haven, strengthening it and putting EURUSD under downward pressure. The next focal point for the market is today’s FOMC decision, which could set the tone for the pair in the days ahead. --- Election Impact on EURUSD: The initial dip in EURUSD following the election highlights its sensitivity to U.S. political events. Market sentiment was cautious as investors digested updates, pushing the dollar up and sending EURUSD lower. This movement suggests continued dollar strength unless political clarity reduces the appeal of safe-haven assets. --- Focus on Today’s FOMC Decision: With the FOMC’s interest rate announcement imminent, we may see additional volatility. While rates are likely to remain unchanged, hawkish commentary or projections for future hikes could support further dollar gains, pushing EURUSD lower. Conversely, a dovish statement could trigger a dollar pullback, allowing EURUSD to approach the anticipated resistance level at 1.0800. --- Technical Analysis and Forecast: Currently trading at 1.0740, EURUSD is positioned near a key support zone. Short-term technical indicators point to potential resistance around 1.0800, which aligns with critical Fibonacci levels and a prior trendline. The pair may briefly reach this level before a likely reversal due to strengthening dollar fundamentals. Once EURUSD tests 1.0800, we anticipate a decline toward our downside target of 1.0660, a support level with historical significance. --- Conclusion: Today’s FOMC statement, paired with the ongoing effects of the U.S. election, positions EURUSD for a brief rally toward 1.0800, followed by a downturn targeting 1.0660. This range provides both resistance and support benchmarks, offering potential entry and exit points.
Short
by forexorbit