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EURCHF:Key Level and Political RisksHello Traders, In today's trading session, we're closely monitoring EUR/CHF for a potential selling opportunity around the 0.96500 zone. The pair had been in an uptrend but recently broke out of it and is now in a correction phase. It is approaching the 0.96500 area, which serves as both a support and resistance level. Adding to the EUR's challenges, the recent EU parliamentary elections in France resulted in a significant majority for a far-right candidate, historically known for advocating France's exit from the EU. This outcome is detrimental to the EUR. Additionally, President Macron has called for an early French election, which exacerbates political instability and poses further risks to the EUR. Trade safe, Joe.
Short
by JoeChampion
EURUSD - 1H SellThe EURUSD chart indicates a potential bearish movement. The recent price action suggests that the pair is experiencing a weakening of the bullish momentum. After reaching a recent peak, the price is showing signs of a downward trend, indicating a possible decline towards the highlighted support zone around 1.08400. The price action around this level is crucial; if the support zone fails to hold, we could see a continuation of the downtrend. This setup aligns with the current market sentiment, pointing towards further selling pressure. Traders should watch for confirmations around the support zone to determine the next move.
Short
by Sober_Trading
Heading into overlap resistance, could it reverse from here?EUR/USD is rising towards a resistance level which is an overlap resistance that lines up with the 23.6% Fibonacci retracement and could potentially reverse from this level to our take profit. Entry: 1.07943 Why we like it: There is an overlap resistance level which aligns with the 23.6% Fibonacci retracement. Stop loss: 1.08406 Why we like it: There is an overlap resistance level which is slightly above the 50% Fibonacci retracement. Take profit: 1.07299 Why we like it: There is an overlap support level that lines up with the 61.8% Fibonacci retracement. 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.
Short
by VantageMarkets
EURUSD 9/6/24Starting things off with euro to the USD this pair has finally shifted bearish into the higher time for a narrative we have mentioned so many times over the last fortnight. This means for us this week we are predominantly focusing on bearish movements, as it stands we have an nfp range this is the overall range responsible for shifting us bearish, Within the 4 hour time frame we still have no low of this range. Because of this we are still waiting for this range to form properly before we begin to interpret the appropriate point to enter. But as always we have an idea of what we would like to see which is the following. A price pulling back after either liquidating the nearest low or forming a low above this point, Then pulling back to the area of unmitigated supply that we have highlighted above this. for us this is the ideal area to sell from it sits above 50 percent of this range and it also is the area responsible for breaking our major structural point down. As we head into this week we are going to be waiting for this range to form properly before we begin to formulate sell or buy setups. What we have shown and spoke about here is our overall main idea so we will wait for this to start playing out and give the principal some fluidity. Wishing you all the best trading week and remember to reprice trade with appropriate risk and always use a stop loss.
by PipSurfingSociety
Euro can rebound from support level and start to move upHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a not long time ago started to decline inside the downward channel, where it rebounded from the support line and rose to the resistance line, after which continued to decline near this line. In a short time, EUR fell to a support level and even made a fake breakout of it, after which turned around and made a strong upward impulse, exiting from the downward channel. Then price almost reached the resistance level, turned around, and fell lower 1.0810 level, breaking it. But then, EURUSD turned around and started to grow inside an upward pennant, where it broke the support level again and later the resistance level too, reaching the resistance line of the pennant. After this, the price bounced down, breaking the 1.0890 level, which coincided with the seller zone again. But then, the price tried to back up and even made a fake breakout of this level, after which made impulse down, exiting from the pennant. Now, I think that the Euro can decline to a support level and then start to grow, therefore I set my target at 1.0870 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
EURUSD (Bullish Side...)EUR/USD Technical Analysis The EUR/USD is trading under bullish pressure towards 1.0950, provided it remains above 1.0872. A correction down to 1.0861 is possible before resuming the bullish trend. However, stability below 1.0861 could support a decline towards 1.0810 and 1.0792. Pivot Price: 1.0872 Resistance Levels: 1.0950, 1.1000, 1.1070 Support Levels: 1.0830, 1.0792, 1.0731 The price is expected to oscillate between the support at 1.0861 and the resistance at 1.0950. US Dollar Declines Ahead of May Employment Report Early Friday, the US dollar weakened against most of its major trading partners, except for an improvement against the Canadian dollar. Investors are now focused on the upcoming May employment report, set for release at 8:30 am ET. Expectations for the report include a rise in nonfarm payrolls by 185,000, an unemployment rate remaining steady at 3.9%, and a 0.3% increase in hourly earnings.
Long
by SroshMayi
EUR/USD Loses Momentum as Market Awaits Key US Economic DataThe EUR/USD pair experienced a setback on Tuesday after reaching its highest level since late March, climbing above 1.0900 before closing the day in negative territory. The pair's near-term technical outlook suggests a lack of bullish momentum as attention shifts to upcoming macroeconomic data releases from the United States. Technical Analysis Overview In the lower timeframes, particularly on the H1 chart, EUR/USD shows a harmonic movement within an uptrend, characterized by swing highs and lower highs. Pullbacks have been consistently supported at the 61.8% Fibonacci retracement level, indicating a potentially strong base for a new bullish impulse. This technical setup suggests that a positive reaction to upcoming economic news could trigger a fresh upward movement. Key Economic Data Releases The focus is now on two critical economic indicators from the US: the ADP Employment Change and the ISM Services PMI for May. These releases are expected to provide significant insights into the state of the US economy and influence the EUR/USD pair's trajectory. 1. ADP Employment Change: Market expectations are for a rise of 173,000 in private sector employment for May. This report is an important gauge of the labor market's health and can affect market perceptions of the Federal Reserve's future policy moves. 2. ISM Services PMI: The ISM Services PMI is projected to recover to a reading above 50, indicating expansion, with expectations set at 50.5 for May, up from April's 49.4. A reading above 50 suggests growth in the services sector, which is crucial for overall economic performance. Potential Market Reactions The EUR/USD pair's movements will be significantly influenced by these data releases. Stronger-than-expected figures could bolster the US Dollar, exerting downward pressure on the EUR/USD pair. On the other hand, if the data disappoints, it could weaken the USD, providing a potential boost to the EUR/USD pair. Conclusion Currently, the EUR/USD pair displays a lack of sustained bullish momentum, but the upcoming US economic data could serve as a catalyst for change. Traders should pay close attention to the ADP Employment Change and ISM Services PMI releases, as they will offer crucial insights into the health of the US economy and guide expectations for future monetary policy. The technical outlook on the lower timeframes indicates a potential for a bullish impulse, provided that the economic data supports such a move. The EUR/USD pair remains at a pivotal point, with the direction likely to be shaped by the forthcoming macroeconomic indicators.
Long
by FOREXN1
3
EURNZD to find sellers at market?EURNZD - 24h expiry Our short term bias remains negative. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. 20 4hour EMA is at 1.7597. We look for a temporary move higher. The sequence for trading is lower lows and highs. We look to Sell at 1.7598 (stop at 1.7648) Our profit targets will be 1.7478 and 1.7458 Resistance: 1.7600 / 1.7650 / 1.7680 Support: 1.7571 / 1.7525 / 1.7500 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EUR/JPY looks ready to ripThe ECB are expected to cut their benchmark rate for the first time in 8 years in a few hours. Yet as it has been so well telegraphed and they seem unlikely to provide promise of further cuts just yet, we suspect upside potential for euro pairs once the dust has settled. And with Wall Street at new highs and appetite for risk on the rise, EUR/JPY looks good for long setups. A bullish inside day formed on Wednesday, and whilst it met resistance at the 2008 high it has since found support at the 20-day EMA. The daily chart shows prices holding above the daily pivot point, and a bullish engulfing candle has formed with a bullish RSI divergence. A bullish flag also appears to be forming. The bias remains bullish above 169, although the 20-day EMA or cycle lows can be used to aid with risk management if momentum turns higher. A break above 170 brings the daily R2 / 61.8% projection into focus, and the flag suggests a target just above the 170.72 highs.
Long
by CityIndex
Could EUR/USD reverse from here?Price is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support. Pivot: 1.09140 1st Support: 1.08408 1st Resistance: 1.09487 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Sell EURAUD Channel BreakoutThe EUR/AUD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.6336, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.6282 2nd Support – 1.6242 Stop-Loss: To manage risk, place a stop-loss order above 1.6390. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
3
ECB Rate Cut Looms: EUR/USD Set to Slide?Given the increasing likelihood that the ECB will cut rates before the Fed, further EUR/USD depreciation could be anticipated in the coming days/ weeks. A move below the 100-day moving average would have traders looking toward the 200-day moving average of 1.0853. However, weaker jobs data from the US this week is tempering this expectation, which means some upside targets can be charted still. If bulls maintain control, EUR/USD may test the June high of 1.0916, followed by the three peaks of March, before reaching the crucial 1.1000 level. The JOLTs job openings report showed a decline of 296,000 from the previous month, dropping to 8.059 million in April 2024. This is the lowest level since February 2021 and below the market consensus of 8.34 million. The ADP Employment Change report revealed that private US hiring in May increased by 152,000, falling short of the estimates of 175,000 and below April’s figure of 188,000. Next up is the NonFarm Payrolls report on Friday. For the exact date and time, import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts directly to your inbox, enabling you to plan your positions in advance.
by BlackBull_Markets
EURJPY to remain mixed and volatile?EURJPY - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. Indecisive price action has resulted in sideways congestion on the intraday chart. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. We look to Sell at 169.95 (stop at 170.55) Our profit targets will be 168.45 and 168.15 Resistance: 171.20 / 175.50 / 178.55 Support: 167.35 / 164.30 / 161.90 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURAUD Still bearish within the Channel Down.This is basically an update to our last EURAUD analysis (April 05, see chart below) two months ago: As you can see the price was rejected at the top of the 1-year Channel Down but since May 07 has turned sideways. In fact, looking at the 1D RSI, we see a Higher Lows Bullish Divergence since April 09, while the price was on Lower Lows. This is similar to the Higher Lows that started on December 01 2023 and resulted in a Bullish Leg of +3.39%. As a result, we are taking profit on our sell position and open a buy, targeting 1.6550 (top of the so far dominant Channel Down). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
Could EUR/USD reverse from here?Price is rising towards a resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.08941 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 1.09159 Why we like it: There is a pullback resistance level. Take profit: 1.08586 Why we like it: There is an overlap support level. 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.
Short
by VantageMarkets
Heading into 50% Fibonacci resistance?EUR/JPY is rising towards the pivot point which has been identified as an overlap resistance and could reverse to the 1st support. Pivot: 169.45 1st Support: 167.39 1st Resistance: 170.82 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets