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EURUSD_SPT trade ideas

The Purchasing Managers’ Index (PMI): What Does It Tell Traders?The Purchasing Managers’ Index (PMI): What Does It Tell Traders? The Purchasing Managers’ Index (PMI) is a widely watched economic indicator that helps traders assess the overall health of the economy via an early snapshot of business activity. Traders often use this data to analyse potential market movements across different asset classes, from equities to forex. In this article, we’ll explore what the PMI is, how it works, and why it matters for traders. PMI Definition The Purchasing Managers’ Index (PMI) is a key economic indicator that offers insight into the business conditions of the manufacturing and services sectors. It’s derived from monthly surveys sent to purchasing managers at various companies, who provide data on several aspects of their business activities. The idea is to get a snapshot of how the economy is performing based on the people making the procurement decisions. PMI data is released in various countries, including majors. PMI is calculated by analysing five main components: - New Orders: Measures the level of new orders received by businesses, indicating future demand. - Inventory Levels: Looks at the stock of goods that companies have on hand, reflecting production expectations. - Production: Assesses the output levels of companies, showing current economic activity. - Supplier Deliveries: Tracks the time it takes for suppliers to deliver goods, which can signal supply chain conditions. - Employment: Monitors hiring levels, providing clues about the labour market. The PMI is reported as a number between 0 and 100. A reading above 50 suggests that the sector is expanding, while a figure below 50 indicates contraction. There are different types of PMIs to be aware of: - Manufacturing PMI: Focuses on the manufacturing sector and is often watched closely because manufacturing is a significant part of many economies. - Services PMI: Covers the services sector, which includes industries like finance, healthcare, and retail. - Composite PMI: Combines data from both the manufacturing and services sectors to give a broader picture of overall economic health. How the PMI Is Calculated The PMI economic indicator is calculated using survey responses from purchasing managers who report whether conditions have improved, remained the same, or worsened. Each response is assigned a score: 1 for improvement, 0.5 for no change, and 0 for deterioration. The PMI is then calculated using the formula: PMI = (P1 × 1) + (P2 × 0.5) + (P3 × 0) Where P1, P2, and P3 represent the percentages of each response. PMI as a Leading Economic Indicator The PMI is widely regarded as a leading economic indicator, meaning it often signals shifts in the economy before other data figures catch up. This is because it’s based on real-time data from purchasing managers, who have a front-row view of their companies’ supply chains and business activity. Early Signals The PMI often catches shifts in the economy before broader indicators like GDP can reflect them. For example, there may be a multi-month decline in the PMI index, meaning that an economic slowdown is coming, giving traders a chance to adjust their positions before the data is widely recognised. Global Comparisons PMI isn’t just available for one country; it’s tracked across the world. Comparing PMI data from different regions allows traders to see how various economies are performing relative to each other. For instance, if the Eurozone PMI is climbing while the US PMI is dropping, it might indicate stronger growth prospects in Europe. Correlation with Broader Economic Trends PMI trends are often correlated with other major indicators like GDP growth, inflation, and industrial output. For traders, this makes the PMI a useful tool to anticipate how markets might react to upcoming economic reports. If the PMI has been rising, GDP or job growth numbers are likely to follow suit, offering a way for traders to estimate upcoming economic releases. Why the PMI Report Matters to Traders The PMI indicator is a valuable tool for traders because it provides early insight into the state of the economy. Here’s why traders pay attention: - Economic Sentiment: A rising PMI suggests that businesses are seeing higher demand and increasing production, which can boost confidence in economic growth. On the flip side, a falling PMI can hint at slower activity, creating caution among traders. - Stock Market Reactions: Traders often see PMI data as a way to gauge how different markets might respond. For instance, if the PMI shows strong expansion, stock markets may react positively, especially in sectors sensitive to economic health like manufacturing or retail. Conversely, a weak PMI could lead to declines as concerns about slower growth set in. - Currency Impact: Currencies tend to strengthen when PMI data indicates economic expansion, particularly for major economies like the US or the Eurozone. This is because higher economic activity usually leads to higher interest rates, which can make a currency more attractive to investors. - Commodities: In commodities, a strong PMI often means higher demand for raw materials like oil and metals, while a weaker PMI could signal reduced demand. If you’d like to see how past PMI releases have impacted markets, head over to FXOpen to explore a world of stocks, currency pairs, commodities, and more. Interpreting the PMI in Trading When traders look at PMI data, they’re not just interested in whether the number is above or below 50—they’re looking for trends and context. As mentioned, a PMI above 50 generally signals economic expansion, while below 50 suggests contraction, but the details matter. Key Thresholds While 50 is the main dividing line, traders often watch for more specific levels. For instance, if the PMI climbs above 55, it usually points to strong growth. If it dips below 45, it could indicate a deeper economic slowdown. Traders pay attention to these shifts because they can signal changes in market sentiment. Month-to-Month Changes It’s not just about the latest PMI reading but how it compares to previous months. For example, a PMI of 52 might still suggest growth, but if it’s down from 57 the month before, traders may see it as a warning sign of slowing momentum. Conversely, an increase over several months can signal improving conditions. Market Reactions to Surprises Market expectations play a huge role in how PMI data is received. If the PMI reading is significantly higher or lower than expected, markets can react swiftly. A higher-than-expected PMI might push stock prices up as traders anticipate stronger economic growth. Conversely, a lower-than-expected PMI could spark sell-offs in risky assets​. Sector-Specific Insight Traders don’t just look at the headline PMI—they break down the numbers by sector. For example, if the manufacturing PMI is rising but the services PMI is stagnant or falling, it could mean that only certain parts of the economy are doing well. This helps traders understand which sectors might perform better in the short term. Global Context PMI data from major economies like the US, China, and the Eurozone can influence global markets. For example, strong US PMI data could push equities higher around the world, while weak data from China might affect commodity prices like copper or currencies like the Australian dollar. The Limitations of Using PMI While the PMI is a useful tool for understanding economic trends, it’s not without its limitations. Traders need to be aware of potential pitfalls when using this data in isolation. - Sector-Specific Focus: PMI primarily covers manufacturing and services, which means it might not fully represent the broader economy, especially in economies where other sectors, like technology or agriculture, play a significant role. - Short-Term Volatility: PMI data can be sensitive to short-term factors, such as seasonal demand fluctuations or temporary supply chain disruptions. These one-off events can distort the numbers, making it tricky to draw long-term conclusions based on a single month’s report. - External Factors: Sometimes, external factors like geopolitical tensions or sudden policy changes can have a bigger impact on markets than the underlying economic trends reflected in PMI. It’s always wise to consider the broader context. - Complementary Analysis Needed: Relying solely on PMI data without looking at other economic indicators, like employment figures or consumer spending, can lead to a narrow view. Therefore, it’s usually used as part of a broader economic analysis. The Bottom Line The PMI offers valuable insights into economic trends, helping traders analyse potential market movements across various asset classes. While not without its limitations, it's a key indicator for understanding market sentiment. For those looking to take advantage of PMI data in their trading, opening an FXOpen account provides access to more than 700 markets and low-cost, high-speed trading. FAQ What Does PMI Stand for in Markets? PMI stands for Purchasing Managers’ Index. It reflects the sentiment of purchasing managers who are responsible for buying goods and services in various industries. Their responses to monthly surveys form the basis of the PMI data, meaning traders can better understand which sectors are expanding or contracting. What Does PMI Mean in Trading? In trading, the PMI meaning refers to the Purchasing Managers’ Index, a key economic indicator that traders use to assess the health of the manufacturing and services sectors. It helps traders gauge economic growth or contraction, which can impact asset prices like equities, currencies, and commodities. How to Use PMI in Forex Trading? In forex trading, PMI data is closely monitored because it provides insight into economic strength. A higher PMI typically signals economic growth, which can strengthen a currency. Conversely, a lower PMI may suggest weaker economic activity, potentially putting downward pressure on the currency. How Does the PMI Index Work? The PMI index is calculated from monthly surveys of purchasing managers in manufacturing and services. The data covers areas like new orders, production, employment, supplier deliveries, and inventory levels. Readings over 50 demonstrate an expanding economy, while below 50 indicate a contracting economy. What Is Manufacturing PMI? Manufacturing PMI focuses solely on the manufacturing sector. It tracks changes in production, new orders, inventories, and more to reflect the overall health of the manufacturing industry. What Is the Difference Between the ISM and PMI Index? The ISM PMI index is produced by the Institute for Supply Management and focuses on the US economy, while PMI is a broader term that refers to similar indices in other regions, like IHS Markit’s global PMI. 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.
Education
by FXOpen
2
Daily CLS, Key Level D1 OB, Bearish Structure, Model1Daily CLS, Key Level D1 OB, Bearish Structure, Model1 you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion. What is CLS? This company is trading for the biggest investment banks and central banks. They trade over 6.5 trillion daily volume. They are smart money of the all markets. CLS operates in the specific times which will give you huge advantage and precisions to you entries. Focus on that. Its accuracy is amazing. Good luck and I hope this educational post helps to become better trader “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔
Short
by Dave-Hunter
3
EURO - Price can fall to support line of channel and bounce upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few moments ago price declined inside wedge, where it broke $1.0770 level and declined to $1.0335 level. Then price turned around and bounced up, making a gap and exited from wedge, after which continued to fall in channel. Inside falling channel, Euro rose to resistance line first and then bounced and dropped to $1.0335 level. After this movement, price some time traded near this level inside resistance area and even later fell to support line of channel. Euro tried to back, but when it entered to resistance area, it at once turned around and fell back. Now, I think that Euro can fall to support line of channel and then bounce up to $1.0450, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
EUR/USD Shorts from 1.03600 back down?My analysis for EUR/USD (EU) this week closely mirrors my expectations for GBP/USD (GU), as both pairs share similar points of interest (POIs). I’ll be focusing on capitalizing on the bearish trend evident in the formation of lower lows and lower highs. With the recent break of structure to the downside, new supply zones have been created. I’ll be waiting for a retest of these zones to catch sell opportunities in alignment with the overall trend. Once the price sweeps liquidity and forms a clear schematic, I’ll enter sell trades targeting the demand zone below. Confluences for EU Sells: - The price has shown a Change of Character (CHOCH) and multiple Breaks of Structure (BOS) to the downside. - A few unmitigated supply zones remain, which are likely to be tapped. - Lots of liquidity below, alongside imbalances that need to be filled. - The Dollar Index (DXY) is bullish, strengthening the bearish case for EU through correlation. Note: If the price continues dropping, I’ll wait for a new supply zone to form or look for counter-trend buy opportunities from a valid demand zone.
Short
by Hassan_fx
4
Lingrid | EURUSD bearish TREND Continues: Potential ShortThe price perfectly fulfilled my last idea. It hit the target. FX:EURUSD market continues to push to lower levels. The price formed a notable double top before dropping after testing the downward trendline. It initially tested the high zone from the previous week, then declined, breaking and closing below the previously respected support level at 1.03500. Furthermore, the price has broke through the previous day's low, suggesting that bears are in control. I expect the price to at least retest the previous lower low levels and potentially make news lows. My goal is support zone around 1.02620 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
5
EURUSD Daily Pivot Points Analysis 08-Jan-2025📣EURUSD Daily Pivot Points Analysis Daily R3 - 1.0495 Daily R2 - 1.0465 Daily R1 - 1.0404 Daily Pivot Point - 1.0374 Daily S1 - 1.0314 Daily S2 - 1.0284 Daily S3 - 1.0224 ✅ Today EURUSD is trading slightly bearish. The price is holding below the Daily Pivot Point - 1.0374. It may extend the bearish wave up to Daily S1 - 1.0314 or maximum Daily S2 - 1.0284. . I don't see any strong reason why it should move down more for today. The ADP Data and FOMC minutes may push EURUSD near to the Daily S2 - 1.0284. From these two areas we should see EURUSD to rising again with objective the Daily Pivot Point - 1.0374 ——————————————————- A pivot point is an intraday technical indicator that's used to identify trends and reversals in equities, commodities, and forex markets. ——————————————————- You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
by KlejdiCuni
2
Trading Forex vs Stock CFDs: Differences and AdvantagesTrading Forex vs Stock CFDs: Differences and Advantages Forex and stock markets are two of the most popular options for traders, each offering unique opportunities and challenges. While forex focuses on trading global currency pairs, stocks involve buying and selling shares of companies. Understanding their differences—from market size and liquidity to trading costs and risk—can help traders choose the market that best suits their strategy. Let’s break down the key differences between forex and stocks. What Is Forex Trading vs Stock Trading? Let us start with some general information that you may already know. The forex market revolves around trading currency pairs, such as EUR/USD, and operates globally, making it the largest financial market with a daily turnover exceeding $7.5 trillion (April 2022). It’s decentralised, meaning transactions occur directly between participants across time zones, with no single central exchange. In contrast, the stock market involves buying and selling shares of publicly listed companies, like Tesla or Nvidia, through centralised exchanges such as the NYSE or LSE. Trading hours are fixed and tied to each exchange’s location, creating more defined trading windows. Forex markets are driven by macroeconomic events and international factors, while stocks are mostly influenced by company-specific developments like earnings reports and industry trends. In this article, we will talk about Contracts for Difference (CFD) trading. To explore live forex and stock CFD trading opportunities, head over to FXOpen’s free TickTrader platform. Forex vs Stock Trading: Market Accessibility and Trading Hours One of the most important differences between forex and stock markets is their structure and timings. Forex: Open 24/5 The forex market operates 24 hours a day, five days a week, cycling through major trading sessions in Sydney, Tokyo, London, and New York. This continuous nature allows traders to react to global events in real-time, whether it’s midday in the UK or midnight in Asia. For example, a trader monitoring the London session can seamlessly transition into the New York session without waiting for markets to reopen. Stocks: Fixed Timeframes Stock trading is tied to the operating hours of centralised exchanges. For example, the NYSE runs from 9:30 am to 4:00 pm EST, while the LSE operates from 8:00 am to 4:30 pm GMT. This also applies to stock CFDs. Outside of these hours, activity is limited to pre- and post-market trading, which typically sees lower liquidity and higher spreads. Conclusion Forex provides flexibility for traders who value around-the-clock access, while stock traders need to plan their activity within set hours. This makes forex especially appealing to those with unconventional schedules or a need for an immediate market response. Trading Stocks vs Forex: Market Size and Liquidity The size and liquidity of a market dictate how efficiently trades are executed and at what cost. Forex and stock trading differs significantly in these areas. Forex: The $7.5 Trillion Giant The forex market stands as the largest in the financial world, with daily trading volumes exceeding $7.5 trillion (April, 2022). This immense size ensures high liquidity in many pairs, meaning they can be traded almost instantly with minimal price slippage. Tight spreads—often as low as fractions of a pip—make forex particularly attractive to traders seeking frequent, precise entries and exits. Stocks: Liquidity Highly Varies The stock market is smaller and is subject to more complicated factors, therefore, traders may suffer when opening and closing trades. First, stock liquidity highly depends on the company and its trading volume. Blue-chip stocks like Apple or BP typically offer high liquidity, which contributes to smooth transactions with competitive spreads. However, smaller, less-traded stocks may suffer from wider spreads and slower execution, particularly during market volatility. Second, trading hours affect market liquidity, making it challenging to trade before and after market close. Conclusion Forex’s unmatched liquidity mainly ensures consistent trade execution across major pairs. In contrast, stock traders must carefully choose assets to avoid issues with low liquidity, especially when trading small caps or during off-peak hours. Forex vs Stocks: Volatility and Price Drivers High volatility creates opportunities for traders by producing price swings that can be capitalised on. However, the factors driving these movements differ significantly between forex and stocks. Forex: Global Events and Macro Trends Forex volatility is often driven by large-scale economic and geopolitical events. Central bank interest rate decisions, employment data, inflation reports, and geopolitical tensions can cause significant price shifts. For instance, a hawkish Federal Reserve announcement can lead to USD appreciation against other currencies. Currency pairs also experience varying levels of volatility depending on their classification. Major pairs like EUR/USD tend to be less volatile than exotic pairs such as USD/ZAR, where price swings can be much more dramatic due to lower liquidity and heightened economic risks. Stocks: Company-Specific Drivers Stock volatility is more granular, often linked to specific companies. Earnings reports, mergers, leadership changes, or industry news can move a single stock significantly. Broader market trends, such as sector-wide sentiment shifts, can also drive volatility, but these are secondary to company-specific factors. For example, Tesla’s earnings announcement can cause sharp movements in its share price without impacting other automakers. Conclusion Forex volatility is broader and influenced by global macroeconomic trends, while stocks are typically driven by isolated, company-specific events. This distinction makes forex appealing for traders focusing on macro analysis and technical patterns, whereas stock traders often blend fundamental company research with broader market trends to identify trading opportunities. Forex Trading vs Stock Trading: Trading Costs and Leverage Trading costs and leverage significantly impact a trader’s strategy and potential returns. And choosing between trading stocks or forex is no exception. Forex: Potentially Low Costs and High Leverage Forex may provide opportunities for lower-cost trading, with fees paid via commissions and spreads. For instance, forex commissions at FXOpen start at $1.50 per lot, depending on account size. Spreads are usually tight for major pairs like EUR/USD, making costs relatively low. At FXOpen, you can trade with spreads from 0.0 pips. Forex offers significantly higher leverage compared to stocks. While this allows traders to operate with smaller capital, it requires disciplined risk management to avoid significant losses. Stocks: Higher Costs, Lower Leverage Stock trading via CFDs typically incurs higher costs compared to forex, with commissions charged per trade or embedded in spreads. For instance, at FXOpen, US stock CFD traders can see commissions charged from 0.04% to 0.1%, varying by account size, with a minimum commission of $1 per order. Leverage is also lower—usually capped at 1:5 for retail traders, reflecting the relative instability of stock prices compared to currencies. Conclusion Forex CFDs offer lower costs and higher leverage, making it popular among traders with a short-term focus. Stock CFDs, while more expensive, give access to financial instruments for portfolio diversification. Choosing between them depends on the trader’s goals, risk tolerance, and preferred market dynamics. Forex vs Stocks: Regulation and Market Transparency Regulation and transparency are critical for traders when choosing between forex and stocks. Both markets are regulated, but their structures create distinct differences in how pricing and trade execution work. Forex: Decentralised and Broker-Driven The forex market is decentralised, meaning trades are executed through brokers rather than central exchanges. This structure can lead to variations in pricing and execution quality, depending on the broker. Therefore, traders need to find regulated brokers to avoid issues with unreliable pricing or execution. For example, FXOpen is regulated by the FCA and CySEC to ensure fair practices and client fund protection. Stocks: Centralised and Transparent Traditional stock markets operate on centralised exchanges like the NYSE or LSE, where all trades are matched through a regulated order book. This ensures consistent pricing and high transparency, as traders can see bid and ask levels across the market. At the same time, stock CFDs are traded on a broker level. Conclusion Forex and stock CFDs’ decentralised nature provides flexibility but relies heavily on broker reliability. Forex Trading vs Stock Trading: Suitability for Different Trader Types Deciding between forex trading and stock trading comes down to choosing between each market’s unique characteristics. Forex: Favouring Short-Term Strategies Forex is ideal for short-term traders, such as scalpers and day traders. Its high liquidity and round-the-clock trading mean there’s always an opportunity to act on price movements, especially during overlapping sessions like London and New York. The use of leverage, often higher in forex, makes it appealing for those seeking to amplify returns on smaller price shifts (please remember that higher leverage leads to higher risks). Traders in forex often focus on technical analysis, utilising chart patterns and indicators, and study macroeconomic data to analyse short-term trends. This market tends to suit individuals who are comfortable with frequent decision-making and quick trade execution. Stocks: A Blend of Short and Medium-Term Trading Stock trading, particularly via CFDs, is more versatile, attracting both medium-term and swing traders. While day trading is possible, the structured trading hours and broader price swings make stocks particularly appealing for those who prefer holding positions for days or weeks. Stock traders often lean on company-specific fundamentals, such as earnings reports or sector trends, alongside technical analysis. This market suits individuals who prefer analysing individual businesses or sector dynamics over global macro trends. Conclusion Forex trading caters to short-term strategies, attracting traders who thrive on quick decisions and frequent trades, while stock trading offers flexibility, appealing to those who prefer a mix of short- and medium-term strategies with a focus on company fundamentals. Each market has unique characteristics, allowing traders to choose based on their style and objectives. The Bottom Line Both forex and stock markets may offer unique opportunities tailored to different trading strategies and goals. Whether you’re drawn to forex’s 24/5 accessibility or the structured transparency of stocks, understanding their key differences is crucial. Ready to explore forex and stock CFD trading? Open an FXOpen account today and take advantage of competitive spreads, fast execution speeds, and a wide range of instruments. FAQ Is the Stock Market Bigger Than Forex? No, the forex market is significantly larger. Forex sees daily trading volumes exceeding $7.5 trillion (April, 2022). This makes forex the largest and most liquid market, popular among traders seeking tighter spreads and fast execution. What Is the Correlation Between Forex and Stock Markets? The relationship varies. Commodity-linked currencies like AUD or CAD often correlate with related stocks or indices. Broader market sentiment, such as risk-on or risk-off conditions, can also drive both forex and stocks in similar or opposing directions. Should I Invest in Forex or Stocks? It depends on your trading style. Forex could suit short-term traders focusing on global economic trends, while stocks might appeal to those who prefer company analysis or medium-term strategies. Which May Offer Greater Returns, Forex or Stocks? Ultimately, potential returns depend on your strategy and discipline. Forex offers higher leverage for short-term trades, but higher leverage leads to higher risks. Stocks may provide better longer-term growth potential, but they are subject to high volatility. Which Is Riskier, Forex or Stocks? Forex can be riskier due to leverage and rapid price swings. Stocks also carry risks, particularly from company-specific events, but lower leverage makes losses potentially less amplified. The risk depends on your approach and management. 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.
Education
by FXOpen
2
EURUSD thought of bullBased on the consensus estimate of a lower NFP report, I think EUR/USD might experience a bullish movement tomorrow. Here's a possible scenario: Possible Scenario 1. NFP report beats consensus: If the actual NFP figure exceeds expectations, it could lead to a USD rally, causing EUR/USD to decline. 2. NFP report meets or misses consensus: If the actual NFP figure meets or misses expectations, EUR/USD might experience a bullish movement, potentially reaching the resistance levels around 1.0350-1.0395. 3. EUR/USD breaks above resistance: If EUR/USD breaks above the resistance levels, it could lead to a further bullish movement, potentially reaching the next resistance level around 1.0440. Key Levels to Watch - Support levels: 1.0275, 1.0230, and 1.0190 - Resistance levels: 1.0350, 1.0395, and 1.0440 Trading Strategy 1. Buy on dips : Consider buying EUR/USD on dips around the support levels, targeting the resistance levels. 2. Sell on strength : Consider selling EUR/USD on strength around the resistance levels, targeting the support levels. Keep in mind that this is just a possible scenario, and the market can be unpredictable. Always prioritize risk management and adjust your trading strategy according to market conditions.
Long
by aderemit
3
EURUSD Will Grow! Buy! Take a look at our analysis for EURUSD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.030. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.038 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
EuroUsd.market target 104000entry point 103700 stop loss 103500Here's a summary of your trade plan for EUR/USD: Trade Plan 1. _Target:_ 1.04000 2. _Entry Point:_ 1.03700 3. _Stop Loss:_ 1.03500 Your plan indicates a bullish outlook, expecting the Euro to rise against the US Dollar from the entry point to the target. Key Considerations 1. _Risk Management:_ Ensure you're managing risk with proper position sizing. 2. _Market Conditions:_ Monitor market conditions, including economic indicators, geopolitical events, and technical analysis. 3. _Trade Adjustment:_ Be prepared to adjust your trade plan if market conditions change.
Long
by Stevenexpert
1
Euro can exit from pennant and continue to fall nextHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to grow and soon broke resistance level, which coincided with the seller zone and continued to grow in range. Later EUR reached the top part of the range and then made a correction movement to the resistance level, after which rebounded and quickly rose back. Then price started to decline and in a short time fell to the 1.0475 level and even made a fake breakout of this level, after which backed up to the range. But soon, the price turned around and dropped to the current resistance level, thereby exiting from the range and breaking the 1.0475 level. Next, the price made an impulse up inside the downward pennant, but later it made a small correction. After this, EUR rose to the resistance line of the pennant and then turned around and dropped to the support line, breaking the 1.0350 level, which coincided with the resistance zone. A not long time ago price bounced from the support line, therefore I think that the Euro can reach the resistance zone and then continue to decline, even exiting from the pennant pattern. That's why I set my TP at 1.0240 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
EURUSD Trading JournalEURUSD Trading Journal Jan 8 Yesterday Price did retrace Mondays efficient FVG. Price did come up to the .70 and past it creating equal highs before gravitating to the equal lows for the low target for today. I could see Price consolidate in Asia maybe London after 2 huge range days and 3 red folder for DXY in NY session. That said I suspect that Price will gravitate to the .50 where there is a H FVG and press up to the .79 H FVG and possibly the clean equal highs.
Long
by LParnell
1