Swing trade EurLive swing trade in euro. I am Short and Aiming for the June low. I'm also curious about how will react on election day and when they find out the new president
EURUSD trade ideas
EUR/USD Analysis: Potential Bearish Continuation SetupIn this analysis, we’re looking at a potential bearish setup for the EUR/USD on the 15-minute timeframe. Here’s a closer look at the key elements of the chart and the rationale behind this bearish outlook.
1. Trendline Break Signals Bearish Shift The chart reveals an upward trendline that had been supporting price action over recent sessions. However, this trendline was decisively broken to the downside, suggesting that the previous bullish momentum may be fading. This trendline break is often an early sign of a shift in sentiment, indicating that sellers could be gaining control.
2. Identifying Supply Zones for a Potential Reversal Two supply zones have been identified on the chart, where we expect potential selling pressure if the price retraces to these levels. These zones represent areas where sellers could step in and push the price lower if the retracement brings the pair back to these resistance areas. Watching price action as it approaches these zones will be crucial.
3. Waiting for Bearish Confirmation Patterns To strengthen this bearish setup, we’re looking for specific candlestick patterns within the supply zones, namely an Evening Star or a Bearish Engulfing pattern. Both patterns indicate strong selling momentum and would act as confirmation that sellers are indeed stepping in. A sharp move downward from one of these patterns would provide an ideal entry signal for a short trade.
4. Projected Bearish Continuation If bearish patterns form within the highlighted supply zones, there’s a good probability of a continuation to the downside. The projected path, indicated by the downward arrow on the chart, suggests a move toward the lower support zone, near the 1.07915 level. This level serves as a key area of interest where price could find temporary support, making it a logical target for short positions.
5. Key Levels to Watch Currently, the price is hovering around the 1.08336 mark. If bearish patterns materialize and sellers continue to dominate, we could see a move towards the 1.07915 level. However, should price break above the supply zones without showing bearish patterns, it would invalidate this setup, and we’d reassess the outlook.
Conclusion In summary, this analysis outlines a bearish scenario for EUR/USD based on a trendline break, potential supply zones, and confirmation through bearish candlestick patterns. Waiting for confirmation within these supply zones is essential to avoid premature entries. If these signals align, the 1.07915 area presents an attractive target for a potential downside move.
EURUSD TRADE SETUPWait for retest the key level then take a trade for Sell otherwise skip this setup
EUR/USD EUR/USD I have the following preview of this pair>>🖊️ On the Daily chart we tested M2_Daily, on the 4HTF we closed below wvah where we closed the entire candle and we are below the Long M2 4H. On the 30M TF we are now in M2 Daily where I would expect a reaction to Long in the M2 4H zone where we have M2 30M and wpoc with npoc>> this is a strong zone for me. Of course we will see what the market offers on Monday. I have zones set that I will monitor.👀 📝
daily pivot , cp shekastdaily bullish pivot and we have cp shekast in trigger time and we want to go down and after wile it will return to upward
EURUSD Next possible moveWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.
Read The EURUSD Market Let's Read EURUSD Price Action after Mr. Trump is Elected as next US President, Good Luck With Your Trades <3
Yearly Support areaWill the price manage to respect the yearly support area, or its the 4th subwave over yet and we will continue to finish wave 3?
EU DROP?The overall bearish trend is in succession and will likely continue. Price still needs to break a significant daily level to confirm a further downslide.
ONLY TIME WILL TELL
Fundamental Market Analysis for November 6, 2024 EURUSDEvent to pay attention to today:
16:00 EET. EUR - ECB President Christine Lagarde Speaks
EURUSD:
The EUR/USD exchange rate is declining in Asian trading on Wednesday. The US dollar is gaining ground as voters favour former US President Donald Trump in the upcoming US presidential election.
The polls are now closing in 15 states, including Arizona, Michigan and Wisconsin. Mr. Trump is currently outperforming Mr. Biden in rural areas, while Ms. Harris is outperforming him in suburban areas. The strengthening of Trump's trade position is providing further support to the US dollar (USD) against the euro (EUR).
Steve Englander, head of G10 global currency research and North American macro strategy at Standard Chartered Bank in New York, commented, "At present, the outlook appears to favour Trump." Mr. Englander further noted that throughout October and early November, the Trump trade had favored a stronger dollar and higher yields.
The outcome of the US presidential election will be a key factor influencing the dollar's momentum this week. However, investors will be monitoring the Federal Reserve's (the Fed) monetary policy decision, which is scheduled for announcement on Thursday.
In Europe, positive Eurozone GDP data prompted traders to reduce their bets on a larger-than-usual interest rate cut at the December meeting. The market anticipates that the ECB will cut the deposit rate by the usual 25 basis points (bps) in December. nvestors will be keeping an eye on ECB President Christine Lagarde's speech on Wednesday.
Trading recommendation: Trading mainly by Sell orders from the current price level.
Bearish on $EURUSD1. We have price hitting OTE
2. We have a stop run
3. We have CISD also in the form of MSS
4. We have an obvious draw as the gap (to be filled) + sellside liqudity to purge
5. Price has already hit the premium levels - OTE using the daily chart dealing range
EURUSD POSSIBLE TRADE SETUPHey Traders,
Check this analysis out on EURUSD, this is showing a potential for both buy and short opportunity.
So, keep a close tab on the pair something is about to make way
Trade safe.
EURUSDPrice left the gap following last week nfp release, I trust price should drop to close the gap.tbus this can be a possible M Structure that possibly confirm a sell
EURUSD-SELL strategy 90 minThe pair had an opening gap at opening, and tried higher levels. Its resistance is around 1.0919 and its base @ 1.0851 for now.
Strategy for very short term is SELL @ 1.0890-1.0910 and take profit near 1.0855 for now.
Medium-term BUY @ 1.0850-1.0870 range for a move to 1.1117
Swing trade EurLive swing trade in euro. I am Short and Aiming for the June low. I'm also curious about how will react on election day and when they find out the new president
What to do the week America votes?The dollar and the Euro depending on the future president of the USA.
The most important week, both for the United States and the rest of the world, and also for the currency markets.
The choice between Donald Trump and Kamala Harris is key for the future of the United States, as well as for the development of economies around the world.
On November 5, 2024, Tuesday is the election in the USA.
The election of Kamala will definitely not affect the dollar well, while the election of Trump would have a positive effect. But there is one very big BUT. In both elections, unrest is very likely to follow, which would adversely affect the United States.
Thus, the "elections 2024" drama will not end with the final decision of the voters.
Betting on Gold is much safer in these absolutely uncertain times.
Even more so with the news that more and more millionaires are trying to leave the United States.
After the employment data, this week, fundamentals will generally be left for later trading when the passions surrounding the election die down.
Our advice is to choose gold instead of the dollar or euro. You can't go wrong with gold for medium to long term trading.
This week, trading will start neutral in anticipation of the news surrounding the elections, but it is possible that individual players will be quite aggressive in the markets. The probability of very large trade turnovers is very high.
In addition to the US election, on Tuesday you can watch the ECB's President Lagarde speech, as well as data on the ISM Services PMI (Oct).
On Thursday after the election, pay attention to the Fed Interest Rate Decision, where a 25 basis point cut is expected.
If everything around the election goes smoothly (although it is unlikely), then the expected lowering of interest rates in the United States will be the main driving event for the week.
Analysis EUR/USDLast week, I mentioned that it would be bullish, and I hope you took advantage of the trading opportunity.
On Friday, there was manipulation by the banks, which pushed the price downward. What I see is strong bearish momentum at the market close.
On the lower time frames (4h/1h), we have a BOS (Break of Structure) as confirmation that there could be a continuation of the bullish momentum from last week. I will wait for Monday to develop to determine how and in what way to trade.
Be patient and let’s see what the price will show us.
EUR/USD Daily Chart Analysis For Week of Nov 1, 2024Technical Analysis and Outlook:
The Eurodollar surpassed our Mean Resistance level of 1.083 during this week's trading session, demonstrating enough strength to initiate a robust interim rebound. However, ongoing selling pressure has pushed the Eurodollar back down to our Mean Support level of 1.083, which now acts as the inverse of the previous resistance. The Euro will likely decline further, potentially hitting the Inner Currency Dip of 1.075 through Mean Support at 1.078. This price action will be significant and trigger an interim rebound to the newly established Mean Support level of 1.082.
EUR/USD retreats in the aftermath of US NFP dataEUR/USD has given up its upward momentum after facing selling pressure near the key resistance level of 1.0900 during the North American trading session on Friday. The currency pair declined as the US Dollar strengthened significantly following the October Non-Farm Payroll (NFP) data. Although there was an initial negative reaction, the Dollar quickly regained strength, with the DXY Index rising above 104.00.
The report indicated that the economy added only 12,000 new jobs, which is significantly lower than the estimated 113,000 and the previous month’s 223,000, which was revised down from 254,000. The unemployment rate remained stable at 4.1%, as expected.
Looking at the technical chart, we can see that the trendline indicates a clear downtrend for this currency pair. The downward momentum of EUR/USD is likely to continue as it encounters two key resistance levels at 1.088 and 1.085. If the price fails to break through these levels, it may lead to a deeper decline, with the next target potentially being the support level at 1.080. Conversely, if the pair breaks the 1.088 resistance and stays above it, this could create an opportunity for a recovery, opening up the possibility of testing the 1.090 level again.
Do you think this currency pair has a chance to reverse? Let me know in the comments!
HelenP. I Euro will rebound down from resistance zone to $1.0650Hi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price trades near the resistance zone (1.1120/1.1090) and then breaks the 2nd resistance level and starts to trades below. Some time later price declined a little more, but soon turned around and rose to the resistance zone, breaking resistance 1 one more time. Next, Euro continued to grow and reached the trend line, after which turned around and started to decline. In a shor time, the price broke resistance 1 again and continued to fall to another one resistance zone (1.0790/1.0760), which coincided with the current resistance level. When the price reached this zone, it at once rebounded and rose to the trend line, but soon fell back to the resistance area, after which made a strong upward movement, breaking the trend line. Euro rose to 1.0940 points, making a gap also, and then made a strong impulse down. Price broke resistance 1 and reached the trend line, but a not long time ago it rose to this level and now trades very close. In my opinion, EURUSD will enter to resistance zone and then rebound down. For this case, I set my goal at 1.0650 points. If you like my analytics you may support me with your like/comment ❤️
