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Euro / U.S. Dollar

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EURUSD trade ideas

Euro-dollar bounces but $1.088 looks like a big hurdleApart from slightly disappointing American GDP, euro-dollar has also made gains in recent days on stronger than expected growth in the eurozone generally and in major national economies. Preliminary German inflation for October rose more than expected to 2%. Relatively high volume of buying and a move out of oversold by the slow stochastic after 24 October’s upward engulfing candlestick would usually suggest an ongoing bounce, but that looks more difficult with the 200 SMA only slightly above the current price. If there’s a break above there, the target would probably be the value area between the 50 and 100 SMAs slightly below $1,10. A clear break back to $1.07 and the 100% weekly Fibonacci retracement doesn’t seem at all favourable for now. However, a positive surprise from the NFP could push the price back to its recent starting point near $1.076 at least temporarily. This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
EURUSD_118 2024.10.31 09:08:13 Trading Signal SELLFrankPro Signal for EURUSD_118 Type: Screen Signal: SELL TP: 1.08069 SL: 1.08637 Entry Price: 1.08566 Analysis for EURUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Same ST=Down LT=Up ST=Down LT=Same Analysis Method(0) Based on the provided analysis, here is my assessment of the EUR/USD price movement: **Short-term analysis (next few days):** The price is expected to go **down**. The reasons for this assessment are: * The price has tested the resistance line at 1.0865 and has started to rebound bearishly, indicating a potential reversal. * The forecast for October 31, 2024, suggests an attempt to develop a decline in the EUR/USD pair, with a potential test of the support area near key levels. * The surge ahead of PCE and NFP data has pushed the pair up to its 200-day moving average, but this may be a temporary move, and the pair may retreat from this level. **Long-term analysis (weeks or months):** The price is expected to **stay the same** or experience a **slight decline**. The reasons for this assessment are: * The Elliott Wave analysis provides a comprehensive overview of the current EUR/USD price action, suggesting potential wave patterns and future price movements. While the analysis does not provide a clear direction, it implies that the pair may be in a consolidation phase. * The influence of economic data and central bank policies on the EUR/USD exchange rate may lead to a range-bound market, with the pair trading within a narrow range. * The recent surge in the pair may be a temporary move, and the pair may return to its long-term trend, which could be a slight decline or a sideways movement. Please note that these assessments are based on the provided analysis and may not reflect the current market situation. The foreign exchange market is highly volatile, and prices can change rapidly due to various factors, including economic data, central bank policies, and geopolitical events. Result: ST=Down LT=Same Analysis Method(1) Based on the provided analysis and forecasts, here is my assessment of the EUR/USD exchange rate: **Short-term (next few days/weeks):** The price is expected to be volatile, with a slight bias towards a decline. The current price is around 1.0859, and analysts suggest that if it remains above 1.0846, it could strengthen. However, there is also an expectation of a decline, with a test of the support area near current levels. Therefore, I would say that the price is likely to **stay the same** or experience a **slight decline** in the short term. **Long-term (next few months/years):** The forecasts suggest that the EUR/USD exchange rate is expected to **go up** in the long term. Commerzbank analysts predict the rate to strengthen to 1.12 by June 2024, and ING forecasts suggest the pair could trade above 1.20 in the next few years. Although there are some predictions of the rate being trapped around 1.08 due to economic factors, the overall long-term outlook appears to be bullish. Please note that these assessments are based on the provided analysis and forecasts, and the actual market movements may differ due to various factors, including unforeseen economic events and changes in market sentiment. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the EUR/USD pair's expected price movement: **Short-term (next few days):** * The pair's recent slip below the mid-1.0800s and the bearish rebound from the resistance line at 1.0865 suggest downward pressure. * The upcoming economic data releases (Eurozone CPI and US PCE Price Index) may further influence the pair's direction, but the current sentiment appears bearish. * Therefore, in the short-term, I expect the EUR/USD price to **go down**. **Long-term (next few weeks/months):** * The pair's earlier test of the 200-day moving average and the ECB's pushback on rate cuts suggest that there may be underlying bullish sentiment. * However, the recent bearish rebound and the cautious market ahead of key economic data releases may delay any potential upward movement. * Considering the conflicting signals, I expect the EUR/USD price to **stay the same** or experience a period of consolidation in the long-term, as the market awaits further clarity on economic data and central bank decisions. Please note that this analysis is based on the provided information and may not reflect the full complexity of market conditions. Result: ST=Down LT=Same
Short
by orbborisson
EURUSD can be bullish By looking at price action we can understood that the chart made a spike, channel , trading range. Perhaps it's a sing of bearish trend weakens; because it's show that the trend legs are not as strong as before and sellers cannot maintain the strength of bearish trend. Also the DXY has weakness in both the number of candles and the slope of the trend. after breaking the resistance level of trading range 1.08687 (it's the last height of trend too) we can expect too bullish trend. It's just my personal comment please don't trade with this and observe the risk management. Thanks for your attention.
Long
by Arco-ir
EUR/USDEUR/USD. I have the following preview of this pair>> I would expect NA to reach the Daily High. On the 4H TF we have Long M2 but I do not expect the market to come there because there is no Gap. On the 4H TF we closed above wVAH, so for me it is long and I would expect NA to reach the level. Anyway, if a situation arises and the market reaches Long M2, I would look for Long positions here (it is a strong zone for me where I have this week's wPOC and yesterday's vPOC). On the 30M TF we have a Long structure where we have short M2 above which we closed and it is my next support zone where LVN is also located. We are currently above today's vPOC.
Long
by Franz0FX
EURUSD with two probabilities for 10/31/2024This is my idea Nbr 20 after 17 ✅️ EURUSD with a high probability to make the decision for 10/31/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
Dollar won't go down without a fight | FX ResearchCurrencies were attempting to run higher against the dollar earlier today. Before giving back many of those gains as the North American market opened, the euro had benefited early on from a run of mostly supportive economic data and higher inflation rates. Though with investor sentiment souring, there was a flow back towards the U.S. dollar. U.S. employment data came in stronger, though this was offset by softer growth figures. The market is now looking ahead to U.S. pending home sales. In the commodities world, gold continues to shine, extending its record highs as worries over inflation persist. Earlier today, Australian inflation data came in softer, resulting in fresh multi-day lows for the Australian dollar. And in cryptocurrencies, there's plenty of attention around Bitcoin’s price and the expectation that it may soon reach another record high, beyond the existing record from March of this year. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets
EUR/USD 📈 EUR/USD 4-Hours Chart Analysis 📈 Technical Analysis: Trend Patterns: The overall trend is downward as indicated by the price consistently staying below EMA 200 and EMA 50. Support Levels: Around 1.0780 USD (recent lows). Resistance Levels: Around 1.0860 USD (recent highs). Momentum: The Squeeze Momentum Indicator shows a shift from red to green bars, indicating a potential change in momentum from bearish to bullish. Fundamental Analysis: US Dollar Strength: The US Dollar has been advancing due to caution ahead of first-tier releases and the upcoming US presidential election. US Economic Data: Recent data includes an unexpected Goods Trade Balance deficit of $108.2 billion in September and a rise in the Consumer Confidence Index to 99.5 in October. US Employment Data: Disappointing JOLTS Job Openings data has helped EUR/USD find support. Trade Plan: Entry Zone: Consider entering a long position if the price breaks above the resistance level of 1.0860 USD with strong momentum. Stop-Loss (SL): 1.0780 Take Profit (TP): 1.0930 Disclaimer: This trade plan is for informational purposes only.
Long
by azizy73