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EUR/USD_TOM - EUR/USD

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EURUSD_TOM trade ideas

EURUSD NExt year bullishI believe we may see a potential bearish structure commonly referred to as the “Bart Simpson” pattern, followed by a clear upward trend with a prolonged rally and periodic signs of European recovery. This outlook is supported by the expectation that the United States will move away from Democratic governance, and that a similar shift will occur in core European countries that were previously undermined by these corrupt, progressive left-wing governments.
Long
by youbottrade
1
How to Build a Forex Trading Indicator How to Build a Forex Trading Indicator In the dynamic world of financial trading, understanding how to build a trading indicator is a valuable skill. This article is designed to navigate you through the essential steps of creating your own trading indicators, offering a blend of technical and practical insights to potentially enhance your market analysis and trading decisions. Understanding Trading Indicators Trading indicators are essential tools in analysing financial markets, offering traders valuable insights into market trends and potential trading opportunities. These mathematical calculations are applied to various market data points like price, volume, and sometimes open interest. In forex trading, indicators play a crucial role in analysing currency pair movements. There are several types of indicators, each serving a specific purpose: - Trend indicators help identify the direction of market movements. - Momentum indicators gauge the speed of these movements. - Volume indicators look at trading volumes to understand market strength. - Volatility indicators provide insight into the stability or instability of currency prices. While there are hundreds of indicators to choose from, some traders choose to develop their own based on their unique market observations. Basic Components of a Trading Indicator The core components of a trading indicator are price, volume, and time. These elements are fundamental in analysing market data and building various tools. - Price: The most critical component, price, is used in almost every trading indicator. It includes open, high, low, and close prices of trading instruments. Price data is essential for constructing trend-following tools like moving averages and oscillators like the Stochastic RSI. - Volume: Volume indicates the number of contracts traded in a given period. It provides insights into the strength or weakness of a market move. Volume-based tools, like the Volume Oscillator or On-Balance Volume (OBV), help traders understand the intensity behind price movements. - Time: Indicators use time periods to analyse market trends. This could be short-term (minutes, hours), medium-term (days, weeks), or long-term (months, years). Time frames influence the sensitivity of an indicator, with shorter periods typically offering more signals. Choosing the Right Data and Tools Selecting appropriate data and tools is a critical step in building effective trading indicators. For data, accuracy and relevance are paramount. Traders typically use historical price data alongside volume data. For tools, traders consider user-friendly platforms that offer robust functionality for creating and testing tools. Platforms like TradingView and MetaTrader offer extensive libraries and community support, facilitating the development of customised indicators. Additionally, programming languages like Python, C# and R, known for their data analysis capabilities, can be powerful tools for creating more complex indicators. FXOpen’s TickTrader, for instance, supports custom C#-based indicators and offers powerful backtesting tools. How to Build a Trading Indicator: A Step-by-Step Walkthrough Developing an indicator involves several key steps, each crucial to ensure the final tool is effective and aligns with your trading strategy. 1. Define the Objective Begin by clearly defining what you want your tool to achieve. Is it to identify trends, pinpoint entry and exit points, or gauge market volatility? Your objective will guide the type of indicator you develop, such as trend-following, momentum, or volatility-based. 2. Select the Formula Choose or develop a mathematical formula that your tool will use. This could be a simple moving average, a complex algorithm involving multiple data points, or something entirely unique. The formula should reflect the market phenomena you aim to capture. 3. Coding the Indicator Translate your formula into code. If using platforms like TradingView, MetaTrader or TickTrader, their scripting languages (Pine Script for TradingView, MQL4/5 for MetaTrader, C# for TickTrader) are designed for this purpose. Ensure the code is clean, well-documented, and easily adjustable. 4. Incorporate Visualisation Decide how the indicator will visually appear on the chart or in a separate window. This could be in the form of lines, bars, dots, or other graphical representations. The visual aspect should make it easy to interpret signals at a glance. 5. Backtesting Before applying your indicator in live trading, it’s crucial to backtest it using historical data. This topic is expanded on below. Testing and Refining Your Indicator Testing and refining your trading indicator is a critical phase in its development, ensuring its potential effectiveness and reliability in real market conditions. - Backtesting: This is the process of testing your indicator against historical data. Backtesting helps evaluate how it would’ve performed in different market scenarios, revealing its strengths and weaknesses. It's essential to test over various time frames and market conditions to ensure robustness. - Analysing Results: Assess the indicator's accuracy, consistency, and responsiveness to market changes. Look for patterns in its performance, such as frequent false signals or lag in response to price movements. - Refinement: Based on the backtesting results, refine your indicator. This could involve tweaking the formula, adjusting parameters like time periods or thresholds, or enhancing the visualisation for clearer signals. - Forward Testing: After adjustments, conduct forward testing in a simulated or live trading environment with real-time data. This helps verify its performance in current market conditions. Remember, no indicator is perfect; the goal is to develop a tool that consistently aids in your trading outcomes. The Bottom Line The journey of building an indicator is both challenging and rewarding. From selecting the right data and tools to carefully coding and testing your creation, each step plays a vital role in crafting an effective aid for trading decisions. For those looking to integrate their custom indicators into a professional trading environment, opening an FXOpen account offers the opportunity to leverage your unique tools in the dynamic TickTrader platform. 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
1
EUR/CAD: Long. Is this a "loonie" trade?Hello traders Clarification: CAD is also referred to as the loonie, a former Canadian one dollar coin. The 50 base point cut by the BoC was expected. The CAD strengthened against the USD and CAD immediately afterwards. Classic knee jerk reaction of buy the rumor, sell the news. Both EUR/CAD and EUR/USD have found support on the 4H chart. The EURO has been on the backfoot against the USD but with the ECB rate decision in less than 24 hours, I have taken a long EUR/CAD position. The ECB is expected to cut by 25 base points which will still give the CAD a slight advantage. However, the Canadian forward guidance points to more rate cuts to stimulate consumer spending, albeit more gradually/25 points at a time. This leaves the ECB's forward guidance to cement this idea. IF Ms. Lagarde once again expresses concern about inflation moving forward, the EURO may appreciate across the board. Fundamentally the Euro Zone needs this rate cut. The economic conditions are not great at the moment. That leaves the FOMC next week and also the BOJ to provide us with more forward guidance. Once this is out of the way, we'll have a much better idea what to expect in 2025, bar some more geopolitical unrest or other major market moving event. Best of luck, all. The EUR/JPY is also some upside promise but keep in mind, the JPY marches to its own drummer. DXY is also retreating
Long
by jvrfxalerts
2
Rising from the Ashes: EURO's Path to RecoveryGood day traders, Trust we all profited from the FOMC report of yesterday. Please take a moment to go through my outlook and expectation on Euro in the coming weeks into the new year. Overview EUR/USD appears to be rebounding after a sharp decline triggered by yesterday's FOMC report, where the FED delivered a hawkish 25bps cut, which drove higher market-driven borrowing costs, a stronger dollar and a sharp drop in stocks. From the start of the week EURUSD had previously been consolidating, during which weak buyers (traders) were caught off guard by a false breakout to the upside, reaching a weekly high of 1.05342 on Tuesday. Idea The subsequent sell-off drove the pair to a four-week low of 1.03439, just above the November 22nd low of 1.03324. This drop aligns with a key Fibonacci reversal pattern under Elliott Wave theory, suggesting the potential for a significant rally. If this pattern holds, EUR/USD could gain approximately 400 pips (1.08150) in the coming weeks, with the recovery likely extending into the new year. Conclusion The recent low is expected to act as a firm support level, and a breach of the November low appears unlikely. This anticipated rally could mark the beginning of a period of recovery and optimism for the euro. Cheers! Merry Christmas and Happy New Year in advance.
Long
by Samuel124
How to Trade the EUR/USD Pair on December 20? Simple Tips The EUR/USD pair is trading around 1.0406, above 1/8 of Murray, and within the downtrend channel forming since November 29th. Yesterday during the American session, the euro reached the low of 1.0325 and covered the gap that it had left on November 20th around 1.0417. Since the euro is showing a slight recovery while consolidating above 1/8 of Murray, we could expect EUR/USD to reach 21 SMA located at 1.0465 and even climb to the 200 EMA located at 1.0576. Since the market is showing signs of overselling, it is likely that the euro will consolidate above 1.03 and below 1.05 due to low liquidity at the end of the year. Meanwhile, we will look for opportunities to buy within this range. A sharp break and consolidation above the psychological level of 1.05 and above 2/8 Murray could mean a strong recovery. Therefore, we expect the instrument to reach 4/8 Murray 1.0742 and even rebound to 1.0864.
Long
by CEO-PREMIUM-ANALYSIS
EURUSD: the FOMC week aheadThe most important event for the eurusd currency pair during the previous week was the ECB meeting, where euro interest rates were cut by another 25 basis points, bringing the deposit rate to 3%. In an after the meeting address to the public, ECB president Lagarde noted that more cuts might come in the early 2025, which will set the euro rates to neutral. Analysts are noting that this cut represents further ECB efforts to cope with both inflation and weakening of the Euro Zone economy. As for other macro data published during the week, the inflation rate in Germany final for November was -0,2% for the month and 2,2% on a yearly basis. Trade balance in Germany in October was positive with euro 13,4B, a bit lower from the market consensus of euro 16B. Inflation data in the US were published during the previous week. Inflation reached 0,3% in November for the month, and 2,7% on a yearly basis. At the same time, core inflation was standing at 0,3% in November and 3,3% for the year. The Producers Price Index in November was 0,4% while core PPI was standing at 0,2% for the month. The currency pair started the previous week by shortly testing the 1,06 resistance line, but soon switched to the downside. The lowest weekly level reached was 1,045. The eurusd is ending the week at the level of 1,05. The RSI modestly reached level of 41, but still is not ready to cross the 50 line and move further toward the overbought market side. The MA50 continues to diverge further from its MA200 counterpart, without an indication over a potential cross anytime soon. The week ahead brings the FOMC meeting on December 18th, when the Fed will decide on the future course of interest rates. The market is expecting to see another 25 bps cut. This might impact some higher volatility on the market. As per current charts, there is some probability that eurusd might test 1,06 resistance level for one more time, but there is higher probability that the currency pair will turn back toward the 1,04 support level. Important news to watch during the week ahead are: EUR: HCOB Manufacturing PMI flash for December in Germany, Ifo Business Climate in Germany for December, Balance of trade in the Euro Zone in October, ZEW Economic Sentiment Index in Germany in December, Inflation Rate final for November in the Euro Zone, GfK Consumer Confidence in Germany for January, PPI index in November in Germany. USD: Retail Sales in November, Industrial Production in November, Building Permits preliminary in November, FOMC Meeting and economic projections, Fed Press Conference scheduled for December 18th, GDP Growth Rate final for Q3, PCE Price Index in November, Personal Consumption and Spending, Michigan Consumer Sentiment final for December.
by XBTFX
EURUSD: Best opportunity to buy for the long term.EURUSD is bearish on its 1D technical outlook (RSI = 40.973, MACD = -0.005, ADX = 14.482) but almost still oversold on 1W (RSI = 35.674). This is because after the November 18th 1W candle bottom on the LL trendline of the 2 year Channel Down, it has completed 2 red weeks in a row. Still, having rebounded on oversold 1W RSI territory, those low levels present an excellent buy opportunity for those who missed the bottom. Every bounce on the Channel Down bottom has made at least a +5.42% rally, and that is what we're aiming for (TP = 1.0900). This may coincide with a 1W MA200 test. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURUSD M30 In the previous analysis , the momentum generated by news pushed the market sharply downward, aligning with my projections but with a slight delay. As a result, the market moved 128 pips lower, just one day off the original forecast. The overall bearish trend remains intact. However, the market is currently in a consolidation phase, which could offer a temporary buying opportunity. I anticipate that buyers may push the price higher toward 1.0423, and potentially 1.0460. From these levels, the downtrend is likely to resume. Close observation of selling pressure at these key zones will be essential to confirm the next phase of the market's movement.
Long
by GreyFX-NDS
EUR/USD: Poised for a Reversal?On November 23, FOREXCOM:EURUSD broke below the critical 1.05 support zone, reaching a low of 1.0336. However, the pair quickly reversed course and has since been trading in a range between 1.0450 and 1.06. A closer look at the price action suggests the pair has established a strong floor and is awaiting a catalyst for an upward reversal. That catalyst could very well come today, with the anticipated Federal Reserve rate cut and subsequent press conference. Given the accumulated market tension, an accelerated move to the upside seems likely. Key Levels to Watch : Support: Any dips below 1.05 should be viewed as buying opportunities, with the potential for a rebound. Resistance: A target around 1.0750 appears realistic in the current context. Invalidation Level: If the price falls back below 1.04, this bullish scenario would be negated.
Long
by Mihai_Iacob
Bullish bounce?EUR/USD is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 1.0456 Why we like it: There is a pullback support level. Stop loss: 1.0401 Why we like it: There is a pullback support level. Take profit: 1.0527 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD BUY | Idea Trading AnalysisEURUSD is moving in an UPWARD channel. We expect a decline in the channel after testing the current level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURUSD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
Long
by TheGrove
3