Get started

U.S. DOLLAR / EURO REFERENCE RATE

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDEUX trade ideas

EURUSD The Target Is DOWN! SELL! My dear friends, Please, find my technical outlook for EURUSD below: The instrument tests an important psychological level 1.0800 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.0783 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EUR/USD - Potential Bullish Reversal?FX:EURUSD 💡 Looking at the EUR/USD pair on the daily chart (D1), several technical signals suggest a potential bullish reversal might be on the horizon. Here are the key points: RSI Near Oversold Levels 📉: The RSI is sitting at 31.89, very close to the oversold threshold of 30. This indicates that the market could be oversold, with selling pressure potentially fading and a technical bounce on the way. Uptrend Still Intact 📈: While prices have dropped recently, the pair remains above the ascending trendline that has been in place since 2023. This trendline is a critical support level, and as long as it holds, the overall bullish structure remains intact. Below the 200 EMA 🔄: The price is currently trading below the 200-day EMA, signaling short-term weakness. However, in bullish markets, it’s common to see temporary corrections below key moving averages before resuming the upward trend. Potential Bullish Reversal Scenario 🟢: If the price hits the trendline and the RSI stays near oversold levels, we could see a bullish reaction, with a potential bounce to follow. The target would then be a return towards the 200 EMA, and possibly a breakout to key resistance levels around 1.09-1.10. A Fibonacci retracement could also potentially come into play, offering key levels such as 38.2%, 50%, and 61.8% to watch for resistance as the price recovers. ⚠️ Watch Out: If the trendline is broken with strong momentum, this bullish scenario could be invalidated, and we may see further declines towards 1.06 or lower. In summary, despite recent bearish pressure, technical conditions suggest we might be nearing a bullish reversal, provided the key support level holds. Fibonacci retracement levels could also offer further insight into potential resistance points during a recovery.
Long
by yashida
EUR/USD Technical Analysis: (READ DESCRIPTION)EUR/USD Technical Analysis: Bullish Outlook Pivot Point: 1.0775 EUR/USD is currently showing signs of a potential upward move, with support firmly established at 1.0775. The technical indicators suggest a preference for long positions as the pair is poised for further gains. Our Preference: Long Positions Recommended Trade: Long positions are favored above 1.0775, with targets set at: First Target: 1.0805 Second Target: 1.0820 This indicates a potential rise of 12 to 27 pips as the bullish momentum strengthens. Alternative Scenario: Downside Potential If EUR/USD falls below 1.0775, consider looking for downside targets at: First Target: 1.0760 Second Target: 1.0745 This would suggest a shift in momentum and potential downward correction. Technical Indicators: RSI (Relative Strength Index): The RSI calls for a new upward leg, showing buying strength and bullish momentum. MACD (Moving Average Convergence Divergence): The MACD is positive, supporting the bullish configuration. Moving Averages: The price is trading above both its 20-period and 50-period moving averages, reinforcing the positive outlook. Price Action and Trends: Above 1.0775: As long as the price remains above this pivot point, the upside trend is expected to prevail, potentially targeting 1.0805 and 1.0820. Below 1.0775: A break below this support level would invalidate the bullish scenario, opening up potential losses toward 1.0760 and 1.0745. This would indicate a shift in momentum, suggesting a corrective move in price action.
by CharivapaAlgo
EUR/USD Holds Ground: Will US Jobless Claims Spark a Rebound?The EUR/USD pair is holding its ground early on Thursday, hovering near 1.0803 as I write this analysis. Despite the lingering risk-averse sentiment in the market, the US Dollar (USD) continues to gain traction, driven by Wednesday’s rise in US Treasury bond yields. The pair managed to stabilize after a four-day slide, but the Greenback’s strength remains evident amid growing demand for safe-haven assets. US Economic Data in Focus The US economic calendar is set to deliver critical data in the second half of the day, including the weekly Initial Jobless Claims and S&P Global PMI data. The market expects the number of new unemployment benefit applications to approach 250,000, a potential increase that could trigger a bearish reaction for the USD. If this data indicates a softening labor market, it could challenge the recent bullish momentum of the US Dollar, causing a shift in sentiment. Given the anticipated economic releases, traders should be prepared for heightened volatility in the EUR/USD pair. Should the data meet or exceed the forecasted rise in jobless claims, it could weaken the USD, providing a potential boost for the Euro. However, the broader market remains cautious, suggesting that any positive move for the Euro could be short-lived. Technical Outlook: A Drop Before a Rebound? From a technical standpoint, we anticipate a potential pullback in the EUR/USD pair following the release of today’s data. The price could dip toward our set Buy Limit levels, presenting a buying opportunity before a possible recovery. Current market dynamics suggest that the pair could experience short-term selling pressure as traders react to the incoming data, followed by a rebound if the economic numbers align with expectations of a softer US labor market. COT Report Insights The latest Commitment of Traders (COT) report continues to show that retail traders are predominantly short on the EUR/USD, while institutional investors—often referred to as the "smart money"—have started to move in the opposite direction. This positioning shift indicates that major players might be preparing for a possible upward move in the pair, despite the prevailing risk-off sentiment. Conclusion: Brace for Volatility As we head into today’s US economic releases, expect high volatility in the EUR/USD. Traders should watch for potential bearish pressure on the USD if jobless claims rise as expected. However, the overall sentiment in the market remains cautious, with the potential for rapid shifts in direction depending on the data outcome. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution. Stay alert, manage your risk carefully, and be prepared for both opportunities and challenges as the EUR/USD navigates today’s volatile trading session.
Long
by FOREXN1
3
Analysis and Setup for EUR/USDThis is my analysis from this morning after the opening of the London session. Personally, I won't be trading today due to the impact of news throughout the day, but this is roughly my setup for today. I will share it with you, as I always do, so anyone who wants to trade can take advantage of the bullish momentum today. Again, I want to emphasize that we have impactful news throughout the day, which could influence the price both positively and negatively. If anyone is opening a position today, I recommend reducing the lot size as well as the risk of loss.
by andricstrahinja95
4 of the Best Day Trading Strategies4 of the Best Day Trading Strategies Day trading is one of the most challenging approaches as it requires traders to make decisions quickly. Therefore, many traders like using established trading strategies. Explore the intricacies of day trading strategies in this article. For those keen on hands-on experience, consider using FXOpen's free TickTrader platform to follow along and enhance your trading insights. 1. Bollinger Bands & RSI Strategy Bollinger Bands and the Relative Strength Index (RSI) are potent tools that, when combined, can offer one of the best strategies for day trading, capitalising on both volatility and momentum. Entry/Exit Criteria Entries Buy Entry: - Price touches or exceeds the lower Bollinger Band. - RSI dips below 30 (indicating oversold conditions). Sell Entry: - Price touches or exceeds the upper Bollinger Band. - RSI rises above 70 (indicating overbought conditions). Stop Losses Buy Trades: - Slightly below the low point where the price touched the lower Bollinger Band. Sell Trades: - Slightly above the high point where the price touched the upper Bollinger Band. Take Profits Buy Trades: - Price touches the middle Bollinger Band line or - RSI rises towards 50-60, indicating diminishing bearish momentum. Sell Trades: - Price touches the middle Bollinger Band line or - RSI drops towards 40-50, showing fading bullish momentum. How/Why the Strategy Works Bollinger Bands measure an asset's volatility. The outer bands expand during high volatility and contract during low volatility. The asset prices tend to revert to the mean, so a touch or breach of an outer band often indicates a short-term price extreme. On the other hand, the RSI measures the magnitude and persistence of price movements. Values below 30 or above 70 denote oversold or overbought conditions, respectively. By combining these tools, traders get a two-fold verification system. The Bollinger Bands hint at price extremes through volatility, while the RSI confirms it through momentum. This dual filter helps in improving the strategy's reliability, capturing reversals with a higher degree of accuracy. 2. Moving Average Crossover with MACD Confirmation Combining the simplicity of Moving Averages (MA) with the insights from the Moving Average Convergence Divergence (MACD), this is one of the day trading strategies. When the two MAs crossover, it indicates a potential change in trend. The MACD serves as a filter to ensure the trend has momentum and is not a false signal. It’s a good idea to set the MACD’s fast and slow lengths to the same as your Fast and Slow MAs. Entry/Exit Criteria Entries Bullish Entry: - Fast MA (e.g., 20-period, blue in chart) crosses above the Slow MA (e.g., 50-period, red in chart). - MACD line moves above the signal line. Bearish Entry: - Fast MA crosses below the Slow MA. - MACD line moves below the signal line. Stop Losses Stop Loss for Bullish Entry: - Slightly below the Slow MA at the point where the Fast MA crossed above the Slow MA. Stop Loss for Bearish Entry: - Slightly above the Slow MA at the point where the Fast MA crossed below the Slow MA. Take Profits Bullish Trades: - Fast MA crosses below the Slow MA or - MACD line descends below the signal line. Bearish Trades: - Fast MA crosses above the Slow MA or - MACD line ascends above the signal line. Why/How the Strategy Works Moving Average crossovers indicate trend shifts. If the fast MA surpasses the slow MA, it implies rising momentum; if it drops below, it indicates a potential decline. However, these signals can be misleading. The MACD, reflecting the relationship between two MAs, validates momentum. A MACD line crossing its signal line confirms the MA's direction. 3. Fibonacci Retracement with Stochastic Oscillator Marrying the predictive power of Fibonacci retracements with the momentum sensitivity of the Stochastic oscillator, this strategy aims to identify potential reversals within major trends. Fibonacci retracements are horizontal lines that indicate potential support and resistance levels, while the Stochastic oscillator measures the speed and change of price movements. Entry/Exit Criteria Entries Bullish Reversal: - Price retraces to a significant Fibonacci level (commonly 38.2%, 50%, or 61.8%). - The Stochastic oscillator goes below 20 (oversold territory) and then crosses back above, indicating gaining bullish momentum. Bearish Reversal: - Price retraces to a major Fibonacci level. - The Stochastic oscillator exceeds 80 (overbought territory) and then crosses back below, signalling growing bearish momentum. Stop Losses Stop Loss for Bullish Reversal: - Slightly below the Fibonacci level where the entry was made. Stop Loss for Bearish Reversal: - Slightly above the Fibonacci level where the entry occurred. Take Profits Exit for Bullish Trades: - Price reaches the next Fibonacci resistance level or - The Stochastic oscillator surpasses 80. Exit for Bearish Trades: - Price hits the next Fibonacci support level or - The Stochastic oscillator drops below 20. Why/How the Strategy Works Fibonacci retracement levels are grounded in the belief that markets often retrace a predictable portion of a move. When prices pull back to these levels, they often find support or resistance, creating potential trading opportunities. However, solely relying on Fibonacci can lead to false signals. To mitigate this, the Stochastic oscillator is employed. By determining if an asset is overbought or oversold relative to its recent price action, the oscillator adds a layer of momentum-based confirmation. 4. VWAP and Moving Average Confluence The Volume Weighted Average Price (VWAP) is a trading benchmark used by traders to determine the average price an asset has traded throughout the day based on both volume and price. When combined with a simple moving average (SMA), traders can pinpoint high-probability trade entries based on confluence and deviations. It’s one of the preferred day trading stock strategies. Entry/Exit Criteria Entries Bullish Entry: - Price is above both the VWAP (blue in chart) and the chosen SMA (e.g., 20-period, red in chart). - A pullback occurs, where the price tests the SMA without closing below it. Bearish Entry: - The Price is below both the VWAP and the chosen SMA. - A pullback occurs, where the price tests the SMA without closing above it. Stop Losses Stop Loss for Bullish Entry: - Slightly below the entry point. Stop Loss for Bearish Entry: -Just above the entry point. Take Profits Exit for Bullish Trades: - Price crosses below the VWAP or SMA. - A predetermined risk-reward ratio is reached. Exit for Bearish Trades: - Price crosses above the VWAP or SMA. - A predetermined risk-reward ratio is achieved. Why/How the Strategy Works The VWAP adjusts the day's price action for volume, indicating an average price. If the price is above the VWAP, it's seen as bullish, and the opposite for bearish. Paired with the SMA, it reinforces trend identification. When both align and serve as support/resistance, they signal market sentiment. By waiting for the price to respect both the VWAP and SMA during pullbacks, traders can achieve a higher probability of successful trade outcomes. The Bottom Line Whether trading forex, commodities, or stocks, these day trading strategies can help you find your feet and get started in the markets. Still, you should remember that they don’t guarantee 100% success. Markets are dynamic, therefore, each strategy should be used as a model that transforms depending on market conditions and your trading approach. Once you’ve got some experience under your belt, consider opening an FXOpen account. When you do, you’ll gain access to a broad range of markets to put your skills to the test, while benefiting from lightning-fast execution and competitive trading costs. Good luck! 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
4
EURUSD With two probabilities for 10/24/2024EURUSD with a high probability to make the decision for 10/24/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
1