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EURUSD trade ideas

EUR/USD (READ DESCRIPTION)Pivot Point: 1.0845 The pivot at 1.0845 serves as a critical support level for the EUR/USD pair. If the price holds above this level, it signals the potential for further upside movement. The technical outlook suggests a bullish bias as long as this support remains intact. Our Preference: Long Positions Recommended Trade: Long positions are preferred as long as the price remains above the pivot at 1.0845. This suggests that the pair could rally to test higher resistance levels. Target Levels for Upside Movement: First Target: 1.0880 This level acts as an intermediate resistance, where traders may consider taking profit or assess the strength of the bullish momentum. Second Target: 1.0900 If the first resistance at 1.0880 is surpassed, the next target is 1.0900, representing a continuation of the bullish trend. Alternative Scenario: Downside Risks If the price drops below 1.0845: A break below this pivot would open the door to a downside move. Bearish Outlook: First Target: 1.0825 Second Target: 1.0810 These levels represent potential areas of support in a bearish scenario, indicating further downward movement. Technical Insights: RSI (Relative Strength Index): The RSI is mixed but holding above its neutral area, signaling a cautious bullish sentiment. If the RSI continues to rise, it could confirm increasing buying interest. Support Zone Strength: The 1.0845 level has provided stability, allowing the price to form a base for potential upward movement, increasing the likelihood of a bullish continuation. Moving Averages: If EUR/USD rises above key moving averages, such as the 20-period or 50-period, it would provide further confirmation of the bullish scenario. A crossover in these averages may signal a stronger upward trend. Momentum Indicators: Indicators like the MACD remain positive, supporting a continuation of the upward momentum. If a bullish crossover occurs, it will likely further solidify the upward trajectory.
by CharivapaAlgo
EURUSD Bearish Bias with Key Resistance at 1.0915EURUSD The price is currently below the resistance zone near 1.0915, which has acted as a pivot in recent movements. The pair remains in a downtrend, with previous highs indicating a double-top formation. If the price fails to break above 1.0915, the downtrend is likely to continue, with potential support around 1.0680. The demand zone is around 1.0680 and the ascending trendline may provide strong support, potentially leading to a rebound. Direction: Bearish: As long as the price remains below 1.0915, the direction favors a continuation towards lower support levels. Bullish: A break above 1.0915 and sustained stability could signal a shift to bullish momentum, but this remains less likely in the current trend. For now, the bias remains bearish, targeting the demand zone around 1.0680. Key levels: Pivot line: 1.0885 Support Lines: 1.0793, 1.0680, 1.0616 Resistance Lines: 1.0995, 1.1082, 1.1141 Trend Outlook: Bearish while under 1.0915 Bullish By stability above 1.0915
Short
by SroshMayi
EURUSD Potential LongAs EURUSD stalls at the immediate demand level talked about in the previously shared idea, our expectation was to see bullish price action print, which was delivered with Friday closing very bullish. While this was expected, it does not appear the buy move is ready as there are still some bears lingering in this market. With this in mind, my anticipation for this week is to see the Fiber trade above last Thursday's high (1.0874) where we have sell-stops sitting in the interim. Clearing this liquidity should be sufficient in seeing price roll deeper into that demand where we expect to see the bulls take charge for a bit, 1.0808 being the price of interest for buying. Should price print as predicted, we should have a retracement buy move play into our hands. See y'all mid-week,GLGT!! LloydFx
Long
by LloydFX
EUR/USD Approaching Key Support LevelEUR/USD Approaching Key Support Level Last week, the European Central Bank (ECB) cut interest rates as expected, marking the third reduction this year. According to Trading Economics, market participants speculate there could be another rate cut in December. This dovish stance is weakening the euro, as the ECB signals deteriorating economic prospects in the Eurozone. In contrast, the U.S. dollar remains strong, supported by: → Robust economic data, including retail sales figures that exceeded expectations last week. → Expectations that Trump may win the next U.S. election, with his proposed trade and tax policies likely to support the dollar. As a result, EUR/USD continued its decline last week, with the pair falling by about 2.5% since the start of October. Will the downtrend persist? Today's technical analysis of the EUR/USD daily chart shows that the pair is approaching a key support line (marked in blue), connecting significant lows from 2023-2024 (highlighted by arrows). Additional support may come from: → The psychological level of 1.0800; → A previous significant low near 1.0777. Thus, the EUR/USD area formed by these lines could present challenges to the developing bearish trend. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
3
Can EURUSD continue to fall?EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering. On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and approached the support level of 1.0800, EUR/USD has reversed again. Currently, the price is hovering around 1.0865 and interacting with the 34 and 89 EMAs, combined with resistance at 1.0960. These factors suggest that the downtrend is still in place. My personal prediction is that EUR/USD is likely to continue falling and may hit a lower low around 1.0700 in the near term. Now the realization phase is taking shape we are waiting for confirmation with the prospect of strengthening the purpose.
Short
by ConanTradingFX
EURUSD: in the oversold territoryThe major event for the EU economy was a further decrease of reference interest rates by ECB members. At their meeting, the ECB decided to cut interest rates by another 25 bps, with possibility of another rate cut till the end of this year, due to drop in inflation, and also, decreasing business activity within the EU. The wholesale prices dropped by -0,3% in Germany in September, leading to an annual drop of -1,6%. The industrial production in the Euro Zone was higher by 1,8% in August for the month, bringing the total increase to 0,1% on a yearly basis. The ZEW Economic Sentiment Index in Germany was standing at 13,1 for October, while the ZEW Economic Conditions were down to -86,9. The Inflation rate in the Euro Zone final for September was 2,7% and in line with a forecast. The US Retail Sales were up by 0,4% in September for the month. Retail sales excluding autos were higher by 0,5% for the same month. Retail sales increased by 1,7% in September y/y, which was a bit higher from 1,6% forecasted by the market. At the same time, the industrial production in the US was down by -0,6% in September on a yearly basis. Building Permits preliminary for September reached 1.428B, which was down by 2,9% for the month. Decrease of interest rates by the ECB members, and weakening of inflation in the US, pushed the eurusd currency pair to the lower grounds during the previous week. The currency pair started the previous week around the level of 1,930 and moved to the lowest weekly level at 1,0812. This move represents the continuation of the last three winning weeks for the USD, which moved from levels around 1,12 resistance, down to 1,08 support. Still, Friday's trading session was closed at the level of 1,0871. The RSI clearly entered into the oversold territory, and reverted a bit to the level of 33 as of the end of the week. The moving average of 50 days is further slowing down its divergence from MA200, however, a clear convergence has not yet started. It might take some time in the future, until the cross of two lines occurs. A clear oversold market side is the first signal that the market exhausted its potential for the downside and that short term reversal might be expected in the coming period. Considering that there is no currently significant macro data scheduled for the week ahead, which could strongly move the market to one side, some stronger moves should not be expected. Current charts are implying the probability for eurusd to revert a bit toward the 1,09 levels, most probably toward the 1,095. There is no current indication for the higher grounds. On the opposite side, there might be just a modest move toward the 1,08 support line, however, charts are pointing to a lower probability of such an occurrence during the week ahead. Important news to watch during the week ahead are: EUR: PPI in September for Germany, ECB President Lagarde speech, HCOB Manufacturing PMI Flash for October in Germany and the Euro Zone, Ifo Business Climate for October in Germany, USD: Home Sales in September, Durable Goods Orders in September, Michigan Consumer Sentiment final in October.
by XBTFX
Lingrid | EURUSD shows BEARISH MomentumFX:EURUSD bounced off the resistance level and has been in a bearish trend since the beginning of October, showing three consecutive bearish weeks. It seems probable that the price will pull back toward the resistance zone before continuing its downward trajectory. If the price rolls back against the main trend, it could lead to a classic correction, followed by trend continuation. I expect the market to build a complex pullback toward the resistance area around 1.0900 and the downward trendline, after which we could see a sell-off as the momentum continues to favor the bears. My goal is the support level of around 1.07920 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
6
EUR/USD Technical Analysis: (READ DESCRIPTION) Pivot Point: 1.0650 The pivot at 1.0650 serves as a key level of support. This level will play a crucial role in determining the near-term direction of the EUR/USD pair. The current technical setup suggests that the pair could see a significant upward movement if it holds above this pivot. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price stays above the pivot point at 1.0650. The expectation is that the pair will move upward, testing higher resistance levels. Target Levels for Upside Movement: First Target: 1.1000 This level represents an intermediate resistance where traders might take profit or evaluate the continuation of the bullish momentum. Second Target: 1.1200 If the first resistance is breached, EUR/USD could extend its gains toward the 1.1200 level, indicating a stronger bullish continuation. Alternative Scenario: Downside Risks If the price fails to hold above 1.0650: Bearish Outlook: A break below the pivot point could lead to a downside move, targeting the following levels: First Target: 1.0500 Second Target: 1.0450 These levels represent potential areas of support if the bearish scenario unfolds, marking a significant downward trend. Technical Insights: RSI (Relative Strength Index): The RSI has recently landed around the 30% zone, which is often considered oversold. This suggests that selling pressure may be waning, and a reversal to the upside could be in progress. A rising RSI typically confirms growing buying interest. Support Zone Strength: The 1.0650 level has acted as a solid support zone in the past, and the price appears to be bouncing off this level, reinforcing the probability of a bullish reversal. Moving Averages: Should the pair break above its short-term moving averages, such as the 20-period or 50-period moving averages, it would further confirm the bullish scenario. A crossover of these averages could serve as a signal for an upward trend continuation. Momentum Indicators: Momentum indicators like the MACD (Moving Average Convergence Divergence) could signal a bullish crossover soon, which would add to the bullish sentiment. The price also remains above key moving averages, providing additional upward pressure.
Long
by CharivapaAlgo
EURUSD expected to rebound on an oversold 1D RSI.The EURUSD pair made a straight hit on our 1.08350 Target (September 23 idea, see chart below) following the 1.12000 Double Top rejection: Right now the price sits below the 1D MA200 (orange trend-line), having failed to recover it in the past 2 days. This is however the 0.618 Fibonacci retracement level from the last Low, which is where the February 14 2024 correction reversed. At the same time, the 1D RSI turned oversold last Thursday, which is an even bigger bullish indication. For the past 2 years (since September 27 2022), every time the RSI got oversold (below 30.00), it was a very strong buy signal as the price reversed. On the February 14 Low it reversed to the 0.618 Fib (blue), so currently our minimum target on this buy opportunity is 1.10550. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EURUSD - Macro View...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURUSD has been overall bullish, trading inside the flat rising channel in blue. Moreover, it is approaching a demand zone marked in green. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the demand zone and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
9
EURUSD BEARISH FOR 30PIPSA 30-pip stop loss and 30-pip take profit strategy is a 1:1 risk-to-reward ratio, where the goal is to limit your risk while capitalizing on a movement of 30 pips in your favor. Let’s break down how this could work for a bearish EUR/USD setup and how to approach it systematically. 1. Entry Conditions You want to find an ideal point where EUR/USD shows bearish signals and offers a potential 30-pip drop. Some factors to look at for confirming your entry: Break of Support: If the EUR/USD breaks below a key support level (on the 30-minute chart), this can be a strong signal for short entry. You would enter as soon as the price breaks below that level with momentum. Bearish Candlestick Patterns: Look for confirmation with bearish candlestick formations like a bearish engulfing or a shooting star near resistance. This indicates that sellers are likely in control, providing you with a setup for a bearish trade. Bearish Divergence: If oscillators like RSI or MACD show divergence where price makes higher highs, but the indicator makes lower highs, this can signal weakening bullish momentum, ideal for a bearish entry. 2. Stop Loss (30 pips) For the 30-pip stop loss, here’s how you can position it: Above Recent Swing High: Place your stop loss 30 pips above a recent swing high or resistance zone. This is a logical place to exit the trade if price retraces because it would invalidate the bearish setup. Above a Key Resistance Level: If there’s a strong resistance level that price previously failed to break above, positioning your stop just beyond this level ensures that a false breakout doesn’t stop you out unnecessarily.
Short
by LORDOFTHETRADERS