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Euro / U.S. Dollar

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EURUSD trade ideas

EUR/USD Extends Decline Amid USD Strength and Weak Eurozone DataThe EUR/USD pair continues its downward trajectory, trading near fresh multi-week lows around the 1.0769 mark during Wednesday’s mid-European session. This decline reflects the ongoing strength of the US Dollar, fueled by a gloomy market sentiment and growing concerns surrounding the upcoming US Presidential election. Meanwhile, the Euro faces downward pressure due to lackluster local macroeconomic indicators, suggesting that the Eurozone's economic challenges persist into the final quarter of the year. Factors Driving the EUR/USD Decline 1. US Dollar Strength The US Dollar remains dominant, driven by risk aversion as investors seek safe-haven assets amidst increasing political uncertainty in the US. The potential impact of the presidential election has added to market jitters, with investors favoring the Greenback for its perceived stability. Additionally, strong US economic data has reinforced the USD's bullish sentiment, suggesting that the US economy continues to outperform its European counterpart. This divergence adds further pressure on the Euro and pushes the EUR/USD lower. 2. Weak Eurozone Macro Data The Euro struggles to gain traction, weighed down by recent disappointing economic figures from the Eurozone. The latest data indicates ongoing challenges in manufacturing and consumer sentiment, suggesting that the region's economic recovery may be faltering. Persistent economic sluggishness in major Eurozone economies, like Germany and France, has dampened confidence in the Euro, as investors remain cautious about the currency's short-term prospects. Technical Analysis: EUR/USD Approaches Key Demand Zone As anticipated in our previous forecast, the EUR/USD has bypassed an intermediate demand zone and is now approaching a more robust support area at the lower level. Here are the key factors at play: Commitment of Traders (COT) Report: According to the latest COT report, retail traders remain heavily bearish on the Euro, while institutional investors (often referred to as “smart money”) have begun to move in the opposite direction, accumulating long positions. This shift in positioning hints at a potential turnaround as the EUR/USD nears significant demand levels. DXY Overbought Condition: The US Dollar Index (DXY), which tracks the performance of the Greenback against a basket of major currencies, is currently in overbought territory. This condition suggests that the USD rally could be losing steam, potentially paving the way for a EUR/USD rebound. The technical overextension of the DXY aligns with the prospect of a retracement, providing additional support for the Euro at the upcoming demand area. Buy Limit Setup: With the EUR/USD nearing a critical demand zone, we are considering placing a buy limit order. This approach aims to capitalize on a potential reversal at the lower demand area, which is supported by both technical indicators and the shifting COT report dynamics. Trading Strategy: Buy Limit on Demand Area Given the current conditions, a buy limit order near the next demand area presents a favorable risk-reward setup. Here’s how we’re approaching this potential trade: Entry: Set a buy limit order just above the upcoming demand zone, targeting a potential rebound in the EUR/USD pair. Stop Loss: Place a tight stop loss below the demand area to manage risk in case of a continued slide. Target: Aim for a near-term bounce back toward resistance levels, aligning with potential DXY weakness and institutional positioning. Final Thoughts: Cautious Optimism for a EUR/USD Rebound While the EUR/USD remains under pressure due to the prevailing USD strength and weak Eurozone data, technical factors and shifting market positioning suggest a potential short-term reversal. As the pair approaches a critical demand zone, a carefully placed buy limit order could offer a promising entry opportunity. With political uncertainty in the US and a potentially overbought USD, traders should monitor upcoming data releases and market sentiment closely, as these factors could influence the timing and magnitude of a possible EUR/USD bounce. As always, risk management is crucial, especially in a volatile environment shaped by macroeconomic and geopolitical factors. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
8
Fresh demand zone in the EUR/USD pairHello everyone, I've identified a fresh demand zone in the EUR/USD pair, and the location looks quite promising. You can approach this trade in two ways: either set a buy limit at the weekly demand zone or use price action to enter on lower timeframes. Personally, I use both strategies. As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one. Thanks!
Long
by MohammedFaysal
A new bearish target in sight for EURUSD?Is there anything today that can turn the tide of this month-long EURUSD crash? Doesn't seem like it. Breaking this previous support (which is not that strong to begin with) signals more red candles for EURUSD into the US elections. Too much Trump hedging in the market to fight against this trend. Some dates for referencing historical price action of the elections: November 4, 2008 Democratic Barrack Obama November 6, 2012 Democratic Barrack Obama November 8, 2016 Republican Donald Trump November 3, 2020 Democratic Joe Biden They can come with huge wicks on both ends!
by FableHart
3
EURUSD Multi Timeframe Analysis 23.10.20241.08111 low got swept as I mentioned on my earlier analysis. Friday's daily candle closure as inside bar has also been played out as expected. But bearish momentum is quite strong. Imo, current Daily Demand zone is the strongest to give price a bullish momentum ( other than any. red flagged fundamentals upcoming days ) 15m Swing, Internal Bearish and price is currently in 15m supply. We possibly could get a bearish momentum from here My expectation is, low to get swept then strong bullish momentum to kick in. But as we trade the facts and not the expectations, I will cautiously follow bearish order flow. At least wait prize to mitigate 4H supply ranges. For longs, ideal to wait for 4H candle closure above 1.08382
by alplaila
EURUSD → Is a 300 pips drop not the limit? What's next?FX:EURUSD reaches an important target. As part of the realization, the price passes 300 pips. The fundamental background for further rate cuts is generally favorable The strengthening economy in the U.S. combined with a growing dollar (extreme rally of the index), the rate of interest rate cuts in Europe are doing their job. The fundamental background for the currency pair is weak, accordingly, in relation to this situation, in the medium term it is worth considering the continuation of the decline. The price reaches 1.078 - the liquidity zone. The pool of liquidity below this zone can push the price away, forming a correction to the imbalance zone, or to the local maximum, from which we can further consider the continuation of the fall. Resistance levels: 1.085, 1.087 Support levels: 1.078, 1.067 The last time the level was tested in early August. This fact in tandem with an aggressive fall of 3% may form a rebound due to the lack of technical potential to break the support level. Consolidation or correction may allow the market to accumulate strength... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
9