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EURUSD.P trade ideas

EURUSD at an important support.EUR/USD is currently positioned at a significant support area on the daily chart, marked by both an uptrend line and horizontal support. Here are some important notes about the pair right now: Long-Term Ascending Channel: The black lines forming an ascending channel on the chart indicate that EUR/USD has been in an uptrend since October 2023. This channel acts as a dynamic range for support and resistance, with the price generally adhering to these lines over time. Horizontal Support on D1: The lower black line of the channel highlights a Double Bottom pattern, suggesting that sellers have struggled to push the price lower. Additionally, this horizontal support aligns with the ascending trend line on the daily chart, which the price recently tested. Given the confluence of these lines (the uptrend and horizontal support), this level is crucial and could influence EUR/USD's direction in the coming days. Resistance and Support Zones: The horizontal green areas represent key resistance and support zones. The main resistance level is near 1.0950, which previously functioned as support but was recently breached during a downward move. The support zone is located at 1.0667, serving as the next target if the price breaks below the current channel support. Recent Candlestick Patterns: On October 24, a bullish engulfing pattern formed, indicating renewed buyer interest after the price touched the support region on the daily chart. This pattern occurs when a bearish candle is fully engulfed by a subsequent bullish candle, suggesting potential buying momentum. Considering these factors, an upward movement may occur if the price holds at the support level, potentially leading to a recovery towards 1.0950. Conversely, a downward movement could ensue if the price breaks through the channel support and trendline, possibly reaching the support area around 1.0670. Attention to NonFarm Payrolls on Friday: Traders interested in the EUR/USD this week should be cautious about the release of the NonFarm Payrolls (NFP) data, which will occur on Friday, November 1st. The NFP is one of the most important economic indicators in the financial market, as it measures the change in the number of jobs in the non-agricultural sector in the US. This data is a reflection of the health of the US economy and directly influences expectations about the Federal Reserve's (Fed) monetary policy. When the NFP is released, it provides insight into the level of economic activity and the strength of the US labor market. If the jobs data beats expectations, it could signal a strong economy, prompting the Fed to consider tightening monetary policy, such as raising interest rates. Higher interest rates tend to boost the dollar, as they attract more investment in higher-yielding US assets. Consequently, a strong NFP could put downward pressure on the EUR/USD, strengthening the dollar against the euro. On the other hand, a below-expected NFP could suggest an economic slowdown, prompting the Fed to adopt a more cautious stance, such as keeping interest rates steady or even cutting them. In this scenario, the dollar could weaken, which would favor a rise in the EUR/USD. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
by Marketscom
EURUSD Trade Log### Trade Setup (29/10/2024) - EURUSD 1. Long in 30-Minute FVG: - Target: 1:2 RRR. - Risk: 1% of account. - Stop-Loss: Below the 30-minute FVG. - Entry Strategy: Wait for a pullback into the FVG with bullish confirmation before entering. - Beware of Earnings: Potential volatility due to correlated US market earnings reports; monitor timing to avoid adverse moves. Strategy: - Multi-timeframe approach using 30-minute FVG for intraday setup. - Confirm entry signals to avoid unexpected volatility from earnings-related movements. - Manage risk independently, reassessing based on the outcome of other trades if applicable.
by Fondera-Trading
EURUSD Analysis Today: Technical and Order Flow !In this video I will be sharing my EURUSD analysis today, by providing my complete technical and order flow analysis, so you can watch it to possibly improve your forex trading skillset. The video is structured in 3 parts, first I will be performing my complete technical analysis, then I will be moving to the COT data analysis, so how the big payers in market are moving their orders, and to do this I will be using my customized proprietary software and then I will be putting together these two different types of analysis.
by Transparent_Fx_Analysis
4
#EURUSD 4HEURUSD 4-Hour Analysis The EURUSD pair has recently broken above a key trendline resistance on the 4-hour chart, suggesting a bullish trend reversal. This breakout signals potential upside momentum as buyers gain control, providing an opportunity for long entries. Technical Outlook: - Pattern: Trendline Breakout - Forecast: Bullish (Buy Opportunity) - Entry Level: Post-breakout above the trendline Traders can look for buy positions above the breakout level, targeting the next resistance zones. It’s recommended to confirm this setup with indicators like RSI for overbought/oversold conditions or MACD for bullish crossover to strengthen the buy signal.
Long
by PIPSFIGHTER
EURUSD Daily Pivot Points AnalysisEURUSD Daily Pivot Points Analysis EURUSD is trading above the Daily Pivot Point at 1.0807, favoring a bullish movement. The first resistance is near Daily R1 at 1.0833. If the bullish volume increases, EURUSD may rise to Daily R2 at 1.0853. Given that today's economic calendar is empty, EURUSD may or may not test Daily R1 at 1.0833 and could move down to the Daily Pivot Point at 1.0807. It could repeat this pattern from Daily R2 as well. If the price falls below the Daily Pivot Point at 1.0807, it might develop the bearish scenario indicated in red on the chart. 📣EURUSD - Daily Pivot Points Daily R3 - 1.0878 Daily R2 - 1.0853 Daily R1 - 1.0833 Daily Pivot Point - 1.0807 Daily S1 - 1.0787 Daily S2 - 1.0762 Daily S3 - 1.0741 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
4
Buy opportunityThe EURUSD pair presents an enticing Buy opportunity at the current price of 1.08124, with favorable potential for profit. Targets: Primary Target: 1.08900 Secondary Target: 1.09942 Breakout Scenario: 1.07603 In the event of a breach above the Support level of 1.07603, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.06000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed Buy strategy, suggesting upward pressure on the EURUSD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM
EURUSD : Short Term Trading Strategy TodayToday, EURUSD is moving around the 1.081 level with a clear technical setup suggesting potential short-term scenarios. The chart highlights two main zones: Resistance Zone (1.08242): Currently, EURUSD is near a resistance area, as shown in the red box. If the pair tests this level but fails to break above, a pullback is likely, potentially pushing prices lower. Support Zone (1.07822): If the price dips, it may find support near 1.07822 (highlighted in blue). A bounce from this level could signal a recovery, allowing EURUSD to resume its upward trend. However, a break below would signal further downside risks. Today’s key economic data, including U.S. Consumer Confidence and trade data, may impact this movement by influencing the USD’s strength. Traders should keep an eye on these levels as they navigate EURUSD’s short-term trends.
Short
by Pierce_Bowers