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USDEUR trade ideas

Why I Prefer EURUSD Long Now.EURUSD is showing some rejection post election and USD strength as a result of Trumps win. Trumps inflationary effect is what gives a boost to the USD as it is less likely rates will fall from the FED quickly. Similarly, there is still a case for long side inflows into the EURO, particularly if key data shortly encourages it further. A stronger rebound of the EU economy is causing a hold on rate reducing as it is less necessary. Would not be wholly surprised if a rebound occurs. Take note of the continued sideways movement long term that could easily persist as there is no real favourability of the USD over the EURO. Long side entries favourable and taken for swing moves. Will reflect on price action as the move progresses and goes through key FIBs/Price action levels higher. Interesting to keep an eye on the sentiment case, but so far, does not reflect ultra USD strength VS the EURO.
Long
by WillSebastian
2
EURUSD_118 2024.11.07 09:29:03 Trading Signal SELLFrankPro Signal for EURUSD_118 Type: Screen Signal: SELL TP: 1.07203 SL: 1.07679 Entry Price: 1.07611 Analysis for EURUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, here are my conclusions for the EUR/USD pair: **Short-term (next few days):** * The price is expected to go down, with a potential test of the support area near 1.0685. * A break below 1.0704 could signal further declines to 1.0660 and 1.0645. * However, there is a possibility of a corrective advance, with a potential rebound from the lower border of the bearish channel and a rebound from the bullish trend line on the RSI. * The upside is capped by the 50-day Exponential Moving Average (EMA) at 1.0830, adding to the selling pressure. **Long-term (next few weeks/months):** * The overall trend is bearish, with the pair trading below a flat 100 Simple Moving Average (SMA) and a firmly bearish 20 SMA. * The ECB's cautious stance on monetary policy and weak German data suggest limited near-term support for the euro. * However, the analysis mentions a potential growth towards the area above 1.0925 following a rebound from the support area near 1.0685. * The impact of economic data and ECB policy on the pair's long-term trend is uncertain and will depend on future developments. In summary, the short-term outlook is bearish, with a potential test of the support area near 1.0685, while the long-term trend is also bearish, but with a possibility of a rebound and growth towards the area above 1.0925. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my predictions for the EUR/USD pair: **Short-term (next few days/week):** The price is expected to **go down**. The technical outlook suggests further losses, with potential to revisit the June low of 1.0666 and possibly the 2024 low at 1.0600. The pair has broken below all its moving averages, and technical indicators are firmly bearish despite being in oversold territory. **Long-term (next quarter/12 months):** The price is expected to **stay the same** or **go up slightly**. Long-term forecasts indicate the EUR/USD could trade at 1.08 by the end of the quarter and around 1.06 in 12 months, according to Trading Economics' global macro models. This suggests that the current downward trend may be reversed in the long term, with the pair potentially rebounding from its current lows. Please note that these predictions are based on the analysis provided and are subject to change as new data and events become available. Result: ST=Down LT=Up Analysis Method(2) **Short-term Analysis (Next 24-48 hours)** Based on the current market conditions and forecasts, I expect the EUR/USD price to **go down** in the short term. The bearish momentum, as indicated by the technical analysis, suggests that the pair may continue to decline, potentially testing support levels around 1.0665 and 1.0645. The strong US dollar sentiment, weak Eurozone economic data, and the upcoming Federal Reserve's decision on interest rates (expected to include a 0.25% rate cut) may further contribute to the downward pressure on the euro. **Long-term Analysis (Next week and beyond)** In the long term, the outlook for the EUR/USD pair is more uncertain. While the current bearish momentum may persist in the near term, there are potential upside risks that could lead to a rebound. If the pair holds above key support levels, some forecasts suggest a potential upward movement above 1.0925. Additionally, the impact of the US presidential election and the subsequent policy decisions may lead to a shift in market sentiment, potentially benefiting the euro. Therefore, in the long term, I expect the EUR/USD price to **stay the same** or potentially **go up**, depending on the outcome of the upcoming events and the overall market sentiment. Please note that these analyses are based on the available data and forecasts, and the actual market movements may differ. Result: ST=Down LT=Up
Short
by frankiepro
EUR/USD Short Setup at Key Resistance LevelMy Short Idea Based on Downtrend Continuation Short Entry: 1.0850 Stop Loss: 1.0900 Take Profit: 1.0800 The pair is in a downtrend, forming lower highs (LH) & lower lows (LL) and this retracement to 1.0850 resistance provides a solid short opportunity, The RSI is nearing overbought levels adding confirmation to the bearish setup, The stop loss is safely above resistance to avoid false breakouts and take profit is at 1.0800, where strong support lies. Good Luck!
Short
by kashifone1
EUR/USD May Decline as USD Gains on Trump-Related TradesToday, the EUR/USD pair is under pressure due to the strength of the USD, driven by expectations of higher U.S. interest rates and recent political developments. The pair has fallen to a multi-month low, hovering between 1.0685 and 1.0680. With increased volatility around the U.S. political environment—particularly after Donald Trump’s election win—alongside a Double Top pattern on the market chart, a short-term forecast suggests that if EUR/USD breaks below the 1.07 level, it may test support around 1.05. However, if economic indicators in the eurozone improve, the EUR/USD could have potential for a rebound within its current range. The Federal Reserve's rate decisions and any new fiscal policies could further influence the currency pair's direction in the coming days.
by VivianPalacios280824
1
5 Most Popular Momentum Indicators to Use in Trading in 20245 Most Popular Momentum Indicators to Use in Trading in 2024 Want to master the art of momentum trading? Look no further. In this FXOpen article, we’ll explore how to use momentum indicators, the signals they generate, and five most popular momentum indicators for trading in 2024. What Is a Momentum Indicator? Momentum in technical analysis refers to the rate at which an asset's price accelerates or decelerates, helping traders identify potential trend continuations or reversals. A momentum indicator is a tool used in technical analysis to measure the speed and strength of an asset’s price movements. By analysing changes in price over a specific period, these indicators provide insights into the underlying force driving market trends. Momentum indicators do not focus on the direction of the price movement itself, but rather the strength behind it. Traders use these tools to gauge whether the market is overbought, oversold, or losing momentum, which helps determine entry or exit points. A stock momentum indicator like the Relative Strength Index (RSI), for instance, may indicate that stocks are currently bought or sold too heavily and their price is due for a reversal. The Significance of Momentum Technical Indicators Momentum indicators do not focus on the direction of the price movement, but rather on the strength behind it. They’re able to quantify and represent hidden clues about the future market direction in an easily interpretable way. By learning to read momentum indicators, traders can develop effective trading strategies, identify potential opportunities, and manage risk more efficiently. Momentum tools produce a range of signals that offer traders an edge over the markets. Let’s take a look at some of the most common momentum signals. Overbought and Oversold Conditions These signals indicate when an asset's price has moved too far in one direction without sufficient support from fundamental or technical factors and is likely to reverse. For example, RSI generates overbought signals when the reading rises above 70 and signals oversold conditions when the reading falls below 30. Divergence Divergence occurs when the price of an asset moves in the opposite direction of the indicator, suggesting an upcoming reversal. For instance, when the price is making higher highs, but RSI is making lower highs, this indicates a bearish divergence that increases the likelihood of a downward move. Crossover These signals are generated when the indicator's lines cross each other or a certain threshold. A common example is the MACD, where traders look for crossovers between the fast MACD line and the slower signal line to spot potential entry and exit points. Top Five List of Momentum Indicators for Technical Analysis Now that we understand the types of signals that momentum tools produce, let’s break down five of the most popular with a momentum indicators list. If you’d like to experiment with them yourself, you’ll find each tool waiting for you in the free TickTrader trading platform. 1. Relative Strength Index (RSI) The RSI is one of the most popular and well-documented momentum indicators. It measures the speed and change of price movements by comparing the average gain to the average loss over a specified period, usually 14. RSI is an oscillator, moving between 0 and 100. Values above 70 reflect overbought conditions, while values below 30 indicate oversold conditions. When the RSI moves out of overbought or oversold territory, many traders interpret this as a reversal confirmation. Sustained movements above or below the midpoint (50) can also be used to confirm a bullish or bearish trend, respectively. Moreover, traders look for divergence between the RSI and price to identify weakening trends and possible reversals. 2. Average Directional Index (ADX) The ADX is a momentum indicator used to determine a trend’s strength. Unlike most other tools, its reading doesn’t move according to the direction of price action, i.e. it doesn’t move up if bullish or down when bearish. Instead, it ranges from 0 to 100, with values above 25 indicating a strong trend and below 25 suggesting a weak or non-trending market. ADX is commonly used in combination with other tools, as it simply confirms the trendiness of a market. For example, traders might use a leading indicator like RSI to anticipate bullishness and confirm the trend when ADX crosses over 25. 3. Commodity Channel Index (CCI) The CCI is a versatile momentum indicator. It uses a constant in its calculation to ensure that 75% of values fall between +/- 100, with moves outside of the range generally indicating a trend breakout or continuation. It can also show extreme overbought or oversold conditions when its value exceeds +/- 200. The CCI requires a more nuanced approach than other tools and is typically used to confirm a trader’s directional bias and to identify potential opportunities. For instance, a visually identifiable bullish trend can be confirmed by looking at the CCI. If its value is skewed toward 100+, traders can be confident in their observation. When the market cools off, CCI will fall below 100. Traders can then confirm a pullback entry with a move back into the +/- 100 range. 4. Moving Average Convergence Divergence (MACD) The MACD is a highly regarded trend-following momentum indicator that shows the relationship between two moving averages of an asset's price. It’s used in technical analysis to identify the relationship between two moving averages of a security’s price. It helps traders understand the trend’s strength, direction, and duration, as well as possible reversal points. Traders use crossovers between the MACD and signal lines as potential entry and exit signals. Additionally, when the MACD histogram crosses above or below the zero line, it can indicate bullish or bearish momentum in the market. Lastly, it’s also possible to spot divergences between price and the indicator’s peaks and troughs, similar to how divergences are identified with RSI. 5. Momentum (Mom) The Momentum indicator is a simple yet potentially effective tool that measures the rate of change in an asset's price over a specific period. The value of the Momentum depends on the market it’s applied to. For example, using the Momentum indicator in stocks will result in a fluctuating value typically between +/- 20, depending on the stock’s price. For forex pairs, its range may look more like +/- 0.02. The common feature across all markets, however, is the zero line. Generally speaking, positive Momentum values indicate upward price movement, while negative values suggest downward movement. It can also show overbought and oversold conditions, but its lack of defined boundaries means this can be tricky. However, Momentum is especially useful for identifying divergences. Advantages of Momentum Indicators Momentum indicators are valuable tools in technical analysis, helping traders assess the strength and speed of price movements. They offer several benefits that enhance trading strategies and decision-making: - Identify Trends Early: Market momentum indicators can reveal the start of a new trend and the end of the old trend, allowing traders to enter trades at opportune moments. - Objective Analysis: They provide quantifiable data, reducing reliance on subjective analysis and emotional decision-making. - Spot Overbought and Oversold Conditions: Momentum tools help traders identify when an asset is overbought or oversold, signalling potential reversals and exit points. - Confirm Trade Signals: Combining momentum indicators with other technical tools enhances the accuracy of trade signals, providing stronger confirmation for trading decisions. - Adaptable Across Markets: They can be applied to various assets, including stocks, forex, and commodities, making them versatile tools for traders. Things to Consider When Trading Momentum Indicators While momentum indicators can be an effective addition to any trader’s arsenal, there are a few things to be aware of: - Trade with the Trend: Trends often last longer than you may think, and constantly looking for trend reversals will only end in frustration. Look for bullish signals during an uptrend and bearish signals in a downtrend. - Use Multiple Indicators: Relying on a single tool can lead to false signals. Many traders combine a lagging indicator, like MACD, with a leading indicator, like RSI. Combining two or three tools can help confirm signals and improve trade accuracy. - Beware of False Signals: Momentum indicators can sometimes generate false signals, especially in sideways or choppy markets. Being patient and waiting for confirmation before entering a trade is vital. - Don’t Rely Too Heavily on Indicators: While momentum indicators can be helpful, relying solely on them without considering price action, market structure, or fundamental aspects can lead to poor trading decisions. Use these indicators alongside other tools for a momentum indicator strategy. Final Thoughts Now that you have a comprehensive overview of momentum indicators and the signals they produce, it’s time to put your knowledge into practice. After experimenting with a few tools and settling on your favourites, you can open an FXOpen account. You’ll be able to trade over 600+ markets with low costs and ultra-fast execution speeds while partnering with one of the world’s fastest-growing forex brokers. Good luck! FAQ How to Use Momentum Indicators? With momentum indicators, traders monitor the rate of price changes to assess whether it is gaining or losing strength. Traders look for overbought or oversold conditions, divergences, and crossovers to determine potential entry and exit points. What Is the Best Period for a Momentum Indicator? If we are talking about the Momentum indicator, the best period depends on your trading style. For short-term traders, 7 and 10 periods are common, while long-term traders may prefer 14 and 21 periods. Testing various periods based on asset volatility can improve results. What Is the Best Momentum Indicator for Scalping? There is no best momentum indicator for scalping but the Relative Strength Index (RSI) is often favoured by scalpers due to its ability to quickly identify overbought or oversold conditions. Its responsiveness helps scalpers make rapid decisions in fast-moving markets. What Is the Difference Between Momentum and Trend Indicators? Momentum trading indicators measure the speed of price changes, while trend indicators assess the direction and persistence of price movements. To put it simply, momentum focuses on strength, while trend indicators focus on the overall direction. Is MACD a Momentum Indicator? Yes, the Moving Average Convergence Divergence (MACD) is one of the most popular momentum indicators, especially in stock trading. It reveals changes in momentum and helps identify potential trend reversals. 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
Buy opportunityThe EURUSD pair presents an enticing Buy opportunity at the current price of 1.07400, with favorable potential for profit. Targets: Primary Target: 1.08394 Secondary Target: 1.09942 Breakout Scenario: 1.09524 In the event of a breach above the Support level of 1.06825, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.06000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed Buy strategy, suggesting upward pressure on the EURUSD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM
Trade 1: EUR/USD - SL HitThings that might went wrong technically: 1. The trade was entered when shorter EMA crossed under with longer EMA in 15min time frame, so the possible early entry and TP was compromised to intraday. EMA cross under was 15% early that the 15min EMA cross under, where the 5min time frame: - EMA crossed under after taking resistance in the range - Pulled back and took support of the EMA cross price level 2. Anticipated a larger move of 0.43%. However the maximum price moved was 14% from entry. If entered at pullback of EMA cross under, the potential TP would have been 28% maximum. Also the price took support at Medium HMA in 15min time frame. 3. While the trade touched SL exit; there was EMA cross over in 5min time frame. However, the SL was not touched, that might be because the medium HMA was still over shorter HMA, and the EMA crosses under again before shorter HMA crossed over medium HMA. However, in the 2nd EMA cross over, the HMA also crossed over and the price hit SL. Possible profit booking could have been: - breakeven - HMA crossed over - EMA cross over in 15min Time Frame
by MyWayofLookingThings
EURUSD map: Down to 1.04-1.00 Then Up to 1.16-1.21EURUSD is in the second leg down to complete a complex correction (red down arrows). There are three crucial target points for drop to watch: 1) Valley of red leg 1 at 1.0448 and 50% Fib at 1.0406 2) 61.8% Fib at 1.0200 3) Touch point of the throwback to broken trendline around parity Next is the reversal to upside within the large leg 2 up (blue up arrows). The possible targets depend on the depth of the current drop, the deeper the lower the upside target. From the first point of drop EURUSD could hit 1.21 area. From the lowest valley of parity it could reach 1.16 handle.
by aibek
Post-Election and FOMC Impact— EURUSDEURUSD Breakdown Analysis Date : November 7, 2024 Current Level : 1.0740 Forecasted Targets : 1.0800 (Resistance) and 1.0660 (Downside Target) --- Overview: EURUSD saw a significant drop yesterday, largely due to market reactions to the U.S. election uncertainty. Investors flocked to the dollar as a safe haven, strengthening it and putting EURUSD under downward pressure. The next focal point for the market is today’s FOMC decision, which could set the tone for the pair in the days ahead. --- Election Impact on EURUSD: The initial dip in EURUSD following the election highlights its sensitivity to U.S. political events. Market sentiment was cautious as investors digested updates, pushing the dollar up and sending EURUSD lower. This movement suggests continued dollar strength unless political clarity reduces the appeal of safe-haven assets. --- Focus on Today’s FOMC Decision: With the FOMC’s interest rate announcement imminent, we may see additional volatility. While rates are likely to remain unchanged, hawkish commentary or projections for future hikes could support further dollar gains, pushing EURUSD lower. Conversely, a dovish statement could trigger a dollar pullback, allowing EURUSD to approach the anticipated resistance level at 1.0800. --- Technical Analysis and Forecast: Currently trading at 1.0740, EURUSD is positioned near a key support zone. Short-term technical indicators point to potential resistance around 1.0800, which aligns with critical Fibonacci levels and a prior trendline. The pair may briefly reach this level before a likely reversal due to strengthening dollar fundamentals. Once EURUSD tests 1.0800, we anticipate a decline toward our downside target of 1.0660, a support level with historical significance. --- Conclusion: Today’s FOMC statement, paired with the ongoing effects of the U.S. election, positions EURUSD for a brief rally toward 1.0800, followed by a downturn targeting 1.0660. This range provides both resistance and support benchmarks, offering potential entry and exit points.
Short
by forexorbit