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EUR/USD Daily Chart Analysis For Week of Oct 25, 2024Technical Analysis and Outlook: The Eurodollar has experienced persistent bearish sentiment during this week's trading session, demonstrating insufficient strength to initiate any interim rebound. The prevailing selling pressure has lowered the Eurodollar to our Mean Support level of 1.079. A temporary rebound led to the reversal of the previously established Inner Currency Dip at 1.083, which currently stands as Mean Res 1.083 and might serve as the Interim Rebound's first stage. The Euro appears poised for further decline, potentially reaching the inner currency dip of 1.075, which remains notably significant and triggers second stage Interin Rebound to Mean Sup 1.078.
by TradeSelecter
EUR/USD: Extending the declineHello dear friends. Overall, EURUSD has made a significant recovery from last week with a price increase beyond 1.0800 after data from the US showed that Durable Goods Orders fell 0.8% in September. However, unfortunately, the pair quickly fell back and closed the fourth consecutive week in negative territory, weakening EURUSD significantly. In addition, from the 1-hour chart, the pair has broken the rising trend line and the price wedge has been broken, suggesting that the bears are likely to continue to gain the upper hand without any significant reversal, as shown by the flat 34.89 EMA.
Short
by Bentradegold
EUR/USD resumes lowsAfter bouncing off the trend line that has been in place since October 2023, around 1.0760, the selling seems to have resumed in the EUR/USD today. Price has found resistance right off the 1.0835-40 region. This area has provided some support at the back end of last week, before giving way earlier this week. Once support, it has turned into resistance. From here, the EUR/USD could revisit the trend line and the August low of 1.0777, with the subsequent bearish target being around 1.0700. The dollar's strong rally in recent weeks and the simultaneous climb in bond yields are clear headwinds for the EUR/USD. Next week is a busy one for the economic calendar with lots of US economic data, and lots of major company earnings all to come ahead of the November 5 US Presidential election in the following week. It is unlikely that the dollar will sell-off ahead of the election, meaning the pressure is likely to remain on the EUR/USD in the week ahead. By Fawad Razaqzada, market analyst at FOREX.com
Short
by FOREXcom
1
"EUR/USD: Is This Sharp Decline Just the Beginning?"The EUR/USD pair has reached a pivotal milestone, surpassing a significant threshold with a 300-pip movement. This substantial shift is backed by a favorable macroeconomic environment, particularly driven by a stronger U.S. economy and the surging dollar, as evidenced by the impressive rally in the U.S. dollar index. In contrast, the European economic landscape is weaker, with continued interest rate cuts by the European Central Bank contributing to downward pressure on the euro. The broader fundamental picture supports the view that this downward trend in the currency pair is likely to persist in the medium term. As the price reaches the 1.078 level, we are now entering a key liquidity zone. This area is crucial, as liquidity pools often play a significant role in shaping price action. The presence of liquidity beneath this level could potentially trigger a reversal or a correction. If a correction materializes, the price could rebound toward the imbalance zone or possibly even retrace to the local maximum. However, any corrective move is likely to be short-lived, as the broader trend remains biased toward further decline. The resistance levels currently stand at 1.085 and 1.087, while support levels are positioned at 1.078 and 1.067. These levels will be key in determining the next moves for the pair. The last time the 1.078 support level was tested was in early August, a factor worth considering as the market faces an aggressive 3% decline. This steep drop could lead to a temporary rebound, especially if the market lacks the necessary momentum to decisively break through the support level. A period of consolidation or a minor correction may provide the market with the breathing room it needs to gather strength for the next leg of the move. What’s noteworthy here is the delicate balance between technical and fundamental factors. The price has reached a zone where liquidity dynamics could drive short-term corrective moves, but the overarching weakness in the euro, combined with U.S. economic resilience, suggests that any upward movement will likely be capped. Traders should be mindful of potential whipsaws around key levels, as the price could oscillate between support and resistance in the near term before resuming its broader downward trajectory. In summary, while the market may see a temporary pullback, the fundamental backdrop favors a continued decline for EUR/USD in the medium term. Traders should watch the liquidity and imbalance zones closely, as they will be critical in shaping price action in the coming days. With resistance levels looming just above and the support levels being tested, the next few sessions could prove decisive in determining whether the pair consolidates or resumes its decline. Either way, the prevailing bias remains bearish, and any short-term correction should be viewed as an opportunity to reassess positions before the downtrend continues.
by lonelyPlayer0
2
Analysis on EUR/USD - ABCD Harmonic Pattern ReversalWe’re observing a potential bullish reversal on the EUR/USD daily chart, as the harmonic ABCD pattern nears completion at a key support zone around 1.0796. This setup aligns well with the technical indicators suggesting a momentum shift, which could provide strong trade opportunities in the coming days. Key Analysis Points: ABCD Harmonic Pattern The pattern has fully completed, with point D sitting on the support level at 1.0796, increasing the chances of a reversal. Harmonic patterns, especially ABCD, are known for their reliability in predicting market reversals. Technical Indicators TDI Indicator shows early signs of recovery, hinting at a potential reversal from the recent downtrend. TDI Momentum lines crossing at lower levels suggest an uptick in buying pressure is imminent. Overall Market Sentiment While EUR/USD has faced bearish pressure recently, the holding of 1.0796 as support increases the likelihood that the downward move could be running out of steam. A bounce here may signal a new bullish phase. Investment Strategies: 1.Bullish Reversal Buy at Point D Entry: Buy around 1.0796, taking advantage of the expected bounce from the harmonic pattern's D point. Take Profit: 1.1001, the first major resistance. Stop Loss: 1.0731. Risk/Reward: 1:2+ Rationale: Point D in the ABCD pattern typically marks the end of the correction, and the technical indicators align with this reversal scenario. 2.Breakout Buy Above 1.0917 Entry: Buy upon a confirmed breakout and close above 1.0917. Take Profit: Initial target at 1.1035, with an extended target at 1.1172. Stop Loss: Below the nearest support, around 1.0850. Risk/Reward: 1:2 Rationale: A breakout above 1.0917 could solidify the bullish reversal and attract additional buyers, leading to a rapid move higher. Both the reversal buy near 1.0796 and the breakout buy above 1.0917 offer high-probability opportunities based on the current market structure and technical analysis. Keep an eye on price action confirmation on lower timeframes to optimize entries.
Long
by MrVNpt
EURUSD Buy TradeTime Frame: - H4: FVG Identification - H1 Entry Signal 1. Trend Confirmation: Identified a Break of Structure by the break of the previous resistance at 1.0807 area, indicating a reversal in market sentiment. 2. Fair Value Gap (FVG): On the H4 chart noted a Fair Value Gap (FVG) between 1.0806 - 1.0810. 3. Position: Entry : 1.0825 Stop Loss : 1.0811 Take Profit: 1.0849 RRR : 1:1,9x ------------- Disclaimer The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Long
by Phoenix-Rise-Trade
HelenP. I Euro can little grow and then start to declineHi folks today I'm prepared for you Euro analytics. Some days ago price rose to the resistance level, which coincided with the resistance zone, and tried to break it, but failed and fell below. But soon, the price finally broke this level and entered to consolidation, where it at once rose to the top part. After this movement, the EUR turned around and made a correction to the resistance level, after which at once bounced and started to grow. Later EURO rose back to the top part of a consolidation, which coincided with the trend line, and then started to decline. In a short time, the price fell to the 1.1 resistance level, and broke it, thereby exiting from consolidation and continuing to move down. Later price reached the trend line and broke it, after which made retest and continued to fall. But a not long time ago it rebounded and started to grow, therefore I expect that EURUSD will rise more and then continue to fall. That's why I set my goal at 1.0750 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
7
EU SL at PLSell EURUSD at Psychology Line and along with Asia Low. Be mindful that their is news later in 3 hours plus. Even the Unemployment change have less reaction towards EU pair. Flash Manufacturing PMI later at 9:45pm will have a significant roles towards the market. If price still hanging round the entry area. Advice to close the trade and wait for a new opportunity to reenter the market. Target Profit is 30pips and with a stop loss of 10pips. Always move to BE once moved 50% in profit. If you are happy with 1:2 RR trade can close early too.
Short
by tradingwith_ryann
EURO - Price can bounce up from support line to $1.0825 levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently, price started to decline inside falling channel, where it some time traded near $1.0955 level and then broke it. Next, price fell to support line of channel, after which bounced up to resistance line and then continued to decline. Some time later price declined to $1.0825 level and then bounced up to resistance line of channel. But after this, price turned around and then bounced down, thereby breaking $1.0825 level and entering to resistance area. EUR tried to rise, but failed and continued to decline inside falling channel, and recently reached support line. Now, I think that price can correct a little and then bounce up to $1.0825 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
12
Trading Forex Without a Strategy? These Are the ConsequencesForex trading involves buying and selling currencies to profit from fluctuations in their exchange rates. As one of the world’s most liquid and fast-paced markets, it offers vast opportunities but also significant risks. The dynamic nature of forex trading makes it essential for traders to have a well-defined strategy to navigate market complexities effectively. The importance of having a trading strategy cannot be overstated. It provides a structured plan that outlines how to enter and exit trades, manage risk, and achieve trading goals. Without a clear strategy, traders often find themselves making impulsive or emotional decisions, leading to inconsistent results and increased losses. In this article, we'll explore the consequences of trading forex without a strategy, highlight the risks associated with this approach, and discuss why a solid strategy is crucial for consistent success. ⭐️ Read the entire article as I'll include tips and strategies to help you get started. What Is a Forex Trading Strategy? A forex trading strategy is a structured plan that guides traders in making informed decisions. It defines specific rules and criteria for entering and exiting trades, managing risk, and achieving trading goals. By following a well-defined strategy, traders maintain consistency and discipline, which are essential for long-term success. An effective strategy typically includes: 1- Entry and Exit Rules: Criteria based on technical indicators, chart patterns, or fundamental factors to determine when to buy or sell. 2- Risk Management: Guidelines for setting Stop Loss orders, position sizing, and risk-reward ratios to protect capital and minimize losses. 3- Goals and Objectives: Specific profit targets and trading frequency to ensure traders have measurable and achievable benchmarks. Risks of Trading Without a Strategy Trading forex without a clear strategy can have significant consequences: ⭐️ BONUS 1 Emotional Decision-Making Without a strategy, traders are more likely to make impulsive decisions driven by emotions rather than rational analysis. For instance, during a sudden market dip, a trader may panic and sell, only to miss a subsequent rebound that a strategy would have anticipated. Inconsistent Performance A lack of structured guidelines results in inconsistent results and unpredictable performance. Research shows that traders without a strategy often experience higher rates of failure and lower returns compared to those who follow a disciplined approach. Increased Risk of Losses Without predefined risk management rules, traders may incur substantial losses if the market moves unfavorably. The absence of protective measures, such as Stop Loss orders, exposes traders to severe financial setbacks, especially in volatile market conditions. ⭐️ BONUS 2 Consequences of Not Having a Trading Strategy 1- Lack of Direction Trading without a plan can result in impulsive or arbitrary decisions, leading to confusion and missed opportunities. This disorganized approach makes it difficult to measure progress or achieve goals. 2- Inability to Adapt to Changing Market Conditions Traders without a strategy may struggle to respond effectively to sudden shifts in trends or volatility. This can lead to missed trades or significant losses due to a lack of preparation for emerging opportunities or risks. 3- Difficulty in Measuring Performance Without clear benchmarks, traders cannot accurately track or evaluate their performance. This lack of metrics makes it challenging to refine strategies or identify areas for improvement. 4- Benefits of Having a Well-Defined Trading Strategy Consistency and Discipline. A solid strategy enforces rules for entry, exit, and risk management, reducing the likelihood of erratic behavior. Successful traders often attribute their achievements to adhering to well-developed strategies. 5- Improved Risk Management Strategies include guidelines for setting Stop Loss orders and managing position sizes, minimizing potential losses. Traders with effective risk management practices tend to experience fewer large losses and achieve better returns. ⭐️ BONUS 3 6- Clear Goals and Objectives A well-defined strategy outlines specific trading goals, providing a roadmap for success. Setting measurable objectives helps traders track progress and make informed adjustments to improve performance. How to Develop an Effective Forex Trading Strategy 1-Assess Your Trading Goals Define what you want to achieve—whether it's generating income, growing capital, or improving skills. Set clear, realistic objectives that align with your experience and market conditions. 2- Choose a Trading Style Select a style that suits your personality and time commitment. Options include: Day Trading: Involves multiple trades within a day, focusing on short-term price movements. Swing Trading: Involves holding positions for several days to weeks to capitalize on market swings. Scalping: Seeks small profits from numerous trades, focusing on quick entries and exits. Position Trading: Focuses on long-term trends, holding positions for weeks, months, or longer. 3-Backtest and Refine Your Strategy Test your strategy using historical data to evaluate its performance under different market conditions. Refine the strategy by adjusting parameters based on results, increasing its effectiveness and adaptability. 4-Utilize Tools and Resources Leverage trading platforms like TradingView, known for their advanced charting tools and indicators. Use educational resources like webinars, online courses, and forums to enhance your knowledge and skills. ⭐️ BONUS 4 In Conclusion... A well-defined trading strategy is crucial for success in the forex market. It provides a clear framework for making informed decisions, setting precise entry and exit points, managing risk, and maintaining consistency. Without a strategy, traders risk falling prey to emotional decision-making, inconsistent results, and significant losses. Implementing a solid strategy ensures that every trade is driven by analysis and predetermined rules, enhancing your ability to navigate market fluctuations with confidence. By setting clear goals, refining your approach, and leveraging available tools, you can build a reliable and profitable trading practice. Take the first step today: assess your trading goals, choose a suitable style, backtest your strategy, and utilize resources to create a comprehensive trading plan that aligns with your objectives. With the right strategy, you’ll be better equipped to handle the challenges of the forex market and achieve long-term success.
Education
by FOREXN1
1