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USDEUR trade ideas

EURUSD 17/11/24As we head into this week, we maintain a bearish bias on the EUR/USD pair. This aligns with last month’s trend, where we consistently sold this pair to the downside. Without a shift in bias, we expect this bearish momentum to continue. Looking at the chart, we’ve identified two key areas of interest for potential selling opportunities. First, there’s a short-term high located around the middle of the current range. This is also a 4-hour high that swept previous short-term highs. Above this, we see an area of unmitigated supply that triggered the last major break of structure, along with a liquidity high just above it. If the price pulls back, it could interact with this supply zone and possibly take out the liquidity highs. However, this pullback would be a counter-trend move. Our primary expectation remains for the price to continue its downward trajectory toward the lows. Last week, the price swept a daily low, highlighted by an arrow on the left-hand side of the screen. This sweep led to a notable upward push, which, while counter-trend, could serve as the catalyst for the pullback we anticipate. The market open will be interesting to watch. If the price gaps upward, it could indicate an intent to move higher before potentially filling the gap later in the week. This would align with the bearish continuation we’ve forecasted. Trade safe and stick to your plan.
by rosshayes
EURUSD Next possible moveSAXO:EURUSD Market Context "EUR/USD remains in a downtrend, forming lower highs and lower lows. The price is currently testing dynamic resistance near the 20 EMA, with bearish momentum intact." Technical Analysis *"Using the Technical Ratings tool, a composite of various indicators provides the following insights: Moving Averages indicate bearish sentiment with the price below key levels (20, 50, 200 EMA). Oscillators like RSI and MACD confirm momentum, with RSI below 50 and MACD line trending lower. The overall rating for this setup is Sell, aligning with the current downtrend structure.* Technical Ratings Overview *"Technical Ratings is a comprehensive tool combining indicator signals to simplify decision-making: Moving Averages (e.g., SMA, EMA) reflect trend direction. Oscillators (e.g., RSI, MACD, Stochastic) highlight momentum and overbought/oversold conditions. Ratings range from Strong Buy to Strong Sell, based on a zero-line average of individual indicators. The current histogram indicates progressively lower values, confirming the bearish trend."* News Context "Upcoming: Non-Farm Payroll (NFP) data tomorrow could add volatility. Previous: U.S. GDP beat expectations, strengthening the dollar." Call to Action "What are your thoughts on EUR/USD's trajectory? Share your ideas in the comments!"
Long
by RBSBALA
EURUSD Trading Journal EURUSD Trading Journal Nov 21 opened went higher taking out previous days buy side before plunging to run on sell side stops closing at the .79 PDR. Created a new low and equal highs bullish for the day-looking for price to come to the 50% at the least could reach for equal highs and buy side efficiencies. 830 ny news manipulation London retraced and NY expanded to the downside and then consolidating since, see what Asia does. Continued to consolidate then London could expand to the buys side and NY reversal/retrace
Long
by LParnell
EURUSD Possible Up correctionEURUSD has reached the psychological level of 1.0500 and, on the 1-hour timeframe, has formed a double bottom pattern, suggesting a potential slowdown in selling pressure. The price is currently moving sideways above this level, indicating possible consolidation. Notably, approximately a year ago, the price surged from this support zone, identifying it as a demand zone. With the DXY (U.S. Dollar Index) reaching a strong resistance zone, there's potential for a reaction that could lead EURUSD to pull back toward the downward trendline. The target is the resistance zone around 1.0635
Long
by RTED_Investing
Eurozone PMI Contracts Amid Geopolitical TensionsThe Eurozone's PMI dropped to 48.1 in November, indicating contraction, with the services sector hit hardest. Simultaneously, the EUR/USD falls to $1.03327, nearing parity with the US dollar. This drop is further highlighted by the dollar index reaching over 107.5, its highest in two years, fueled by strong US economic data and safe-haven demand amid global uncertainties. The Eurozone faces heightened vulnerabilities due to geopolitical tensions, contrasting the robust US economic indicators. As traders eye potential parity in the EUR/USD, it's crucial to consider geopolitical developments and economic indicators. Understanding these dynamics can aid in gauging market movements and potential trading opportunities. For those trading forex, it's important to manage risks, as leverage magnifies both profits and losses. Be informed: stay updated with economic events, and consider using resources like tastyfx’s YouTube channel for strategy development. Always trade with caution, as past performance is not indicative of future results.
by tastyfx