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EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Euro can make small movement down more and then start to growHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some days ago entered to triangle, where it at once rebounded from the resistance line, which coincided with the 1.0885 resistance level with the seller zone and in a short time declined to support line of this pattern. After this movement, the price rebounded from this line and started to grow back to the resistance line of the triangle, and when EUR reached this line, and soon exited from the triangle. Then the price broke the 1.0885 level and rose a little higher, but quickly turned around and started to decline inside the downward channel. In the channel, the price broke one more time at 1.0885 level and later fell to the support line of the channel, after which it turned around and rebounded up. Euro exited from the downward channel and soon reached the 1.0885 level again, but at once turned around and made a strong downward impulse to the current resistance level, which coincided with the resistance area. After this, the price also broke this level too and at the moment it continues to decline. In my opinion, the Euro can make a small movement more, after which it turns around and rises to the 1.0700 resistance level, which is my target too. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
EURUSD Outlook: Support Strength and Potential Upside MomentumAmidst the ever-fluctuating landscape of the foreign exchange market, the EURUSD pair has captured the attention of traders following a notable drop to 1.071 in response to recent economic developments. As I compose this article, the pair finds itself at a critical juncture, supported by a confluence of factors including strong technical support and contrasting economic data releases. At present, the EURUSD pair has established a robust support level, coinciding with the 61.8% Fibonacci retracement level. This convergence of technical indicators underscores the significance of this support area, potentially paving the way for a reversal in price dynamics. Recent economic data releases have added complexity to the market narrative. The Core Producer Price Index (PPI) month-on-month (m/m) report has exerted a negative impact on the US economy, suggesting potential inflationary pressures. Conversely, the Unemployment Claims data has painted a positive picture for the US labor market, indicating resilience and stability. In light of these developments, our analysis suggests a compelling trading idea: a rebound from the support areas. Our viewpoint is anchored in the belief that the EURUSD pair is currently trading within a range-bound environment, presenting an opportunity for a bullish impulse towards higher levels. However, it's essential to approach this trading idea with caution and meticulous planning. While technical indicators and economic data provide valuable insights, market sentiment and geopolitical factors can introduce unexpected volatility. Therefore, risk management is paramount in executing this trading strategy effectively.
Long
by FOREXN1
1
EURO - Price can bounce up from support area to $1.0790Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price broke $1.0885 level, which coincided with resistance area and continued to decline in falling channel. Soon, price fell to support line, after which it bounced and reached resistance line and then continued to fall near this line. When Euro reached support level, which coincided with support area, it at once bounced up, thereby exiting from channel. Then price started to trades in flat, where EUR sometimes reached resistance area, but last time it made a downward impulse. Price exited from flat and declined to $1.0730 support level, where at the moment it trades very close. So, I think Euro can fall to support area, after which it bounce up to $1.0790 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
EUR/USD rally loses steam ahead of US inflation reportThe euro's rally from the December low appears to be losing steam. Tuesday's high respected a resistance cluster including a 61.8% Fib level, high-volume node and trend resistance. A 2-bar bearish reversal (which includes an engulfing candle) only made a marginal high above Friday's high, and a bearish divergence has formed on the RSI. With CPI looming, perhaps the market will try to fill some of the liquidity gaps left during the bearish engulfing candle. And with the potential for a hotter-than-expected CPI report (and therefore a stronger dollar / lower euro), the bias is for an eventual retest of the 200-day average ~1.0832. A break beneath which brings 1.0820 and 1.080 into focus for bears.
Short
by CityIndex
EUR/USD Dynamics Following March's NFP ReportAs the EUR/USD opens Monday's session with an initial pushdown to 1.08280, the forex market reflects on the recent Nonfarm Payrolls (NFP) report. With the economy adding a robust 303,000 jobs in March, surpassing expectations, investors are recalibrating their forecasts regarding the Federal Reserve's (Fed) interest rate policy. This unexpected surge in job creation has tempered speculations of an imminent interest rate cut by the Fed in June and has revised down the total number of anticipated rate cuts for 2024 to two. Consequently, US Treasury bond yields remain elevated, bolstering the USD and exerting downward pressure on the EUR/USD pair. Amidst these developments, a potential short continuation for the EUR/USD emerges as a plausible scenario. The pair remains below the 61.8% Fibonacci level, and the Relative Strength Index (RSI) indicates bearish momentum following Friday's divergence and subsequent pushdown post-NFP, with the RSI currently hovering around 55, signaling a potential decline. However, despite the strengthening USD, a generally positive sentiment pervades global equity markets, buoyed by easing geopolitical tensions in the Middle East. This optimism may dampen demand for the safe-haven Greenback. Additionally, traders may adopt a cautious stance ahead of pivotal releases from the US this week, including the latest consumer inflation figures and the crucial Federal Open Market Committee (FOMC) meeting minutes scheduled for Wednesday. These data points, alongside the European Central Bank (ECB) meeting on Thursday, are poised to offer significant insights into the future trajectory of the EUR/USD pair. In summary, while the EUR/USD faces downward pressure driven by strong US economic indicators, the interplay of global market sentiment and upcoming data releases could introduce volatility and potentially alter the currency pair's direction. Traders are advised to closely monitor key economic events and market sentiment indicators to navigate the evolving dynamics of the EUR/USD exchange rate effectively.
Short
by FOREXN1
5
EUR/USD: Analyzing the Impact of US Nonfarm PayrollsThe recent release of the US Nonfarm Payrolls report for March has sparked significant movements in the EUR/USD currency pair, with implications for traders and investors worldwide. This article provides a comprehensive analysis of the key factors driving these fluctuations and offers insights into potential future trends in the forex market. US Nonfarm Payrolls Report: The US Bureau of Labor Statistics (BLS) stunned markets with its March Nonfarm Payrolls data, which surpassed both estimates and previous readings. With an impressive addition of 303K jobs, the report painted a robust picture of the US employment landscape. Moreover, the decline in the Unemployment Rate to 3.8% further bolstered confidence in the US economy, accompanied by Average Hourly Earnings that met consensus expectations. Eurozone Economic Indicators: In contrast to the strong performance of the US economy, the Eurozone's economic indicators presented a mixed picture. Reports such as Germany's Factory Orders and Retail Sales failed to match the vigor seen in the US labor market. This discrepancy between the two economic powerhouses has exerted downward pressure on the EUR/USD exchange rate. From a technical standpoint, the EUR/USD pair faced significant downward momentum following the release of the US Nonfarm Payrolls report. The pair quickly approached the 1.0800 support level, with further downside potential towards 1.07600. Despite a temporary rebound to 1.08360, the overall outlook suggests a bearish continuation, pending confirmation from upcoming trading sessions. Traders are closely monitoring upcoming economic data releases, particularly US inflation figures and consumer sentiment data. Additionally, the European Central Bank's (ECB) monetary policy meeting will be a pivotal event, shaping market sentiment towards the euro. While some uncertainty lingers, indications point towards a potential bearish trajectory for the EUR/USD pair in the near term. The US Nonfarm Payrolls report for March has triggered significant movements in the EUR/USD exchange rate, highlighting the contrasting economic landscapes between the US and Eurozone. Technical analysis suggests a bearish bias for the pair, with potential downside targets below the 1.0800 support level. Traders are advised to remain vigilant and await confirmation before initiating new positions, particularly in light of upcoming economic events and central bank decisions. ✅ Our previous Winning Idea:
by FOREXN1
1
EURCHF: Channel Down top. Sell.EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous corrective wave did. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EUR/JPY minor short(4/9/2024)Today, the EUR/JPY price rose in the early morning, and right now the price made a good rejection from the 165.1 zone. this rejection could lead to further downward movement after a short retracement. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by fortunamarkets
EURGBP: Multiple Time Frame Analysis & Bearish Outlook 🇪🇺🇬🇧 Take a look how EURGBP reacted to a daily falling trend line on a 4H time frame. The market started to consolidate within a narrow range and was stuck within for 2 trading days. Today we see a strong bearish movement with a confirmed violation of the support of the range. It indicates the strength of the sellers. We can anticipate a bearish movement lower, at least to 0.8562 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
HelenP. I Euro will rebound down from resistance zoneHi folks today I'm prepared for you Euro analytics. If we look at the chart, we can see how the price some days ago fell to the support level, which coincided with the support zone, and at once rebounded from this level and made a strong impulse up to the 1.0885 resistance level. Soon, the price broke this level, which coincided with the resistance zone and even later rose higher in this zone, but soon turned around and little declined. Next, the price reached the trend line, after which the Euro rebounded and fell lower resistance level, breaking it one more time. But after this movement, the EUR turned around and made an impulse up to the trend line, after which it in a short time back, made a fake breakout of the 1.0885 level. Then price continued to decline to the support level and even it reached the 1.0765 level, the Euro fell lower support zone, but soon turned around and made a strong impulse up to the resistance level, breaking the support level again. Now, the price continues to trades near the 1.08850 level and I expect that the Euro will enter to resistance zone and then rebound down. So, for this case, I set my target at the 1.0840 level. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
4
EURGBP - Price can exit from rising channel and fall to $0.8550Hi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 Some time ago price declined lower support level, which coincided with support area, and started to trades in triangle. In triangle, GBP made upward impulse to resistance line, breaking $0.8540 - $0.8570 levels and then turning around. In a short time, price declined to resistance area and soon exited from triangle and broke $0.8570 level too. After this, price fell to support area, after which it entered to rising channel, where GBP rose to $0.8570 level. Also, price broke this level again and some time traded higher, but recently fell back to support line. Now, I think British Pound can grow to resistance level and then bounce down to $0.8550, exiting from channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
EURUSD on crossroads. Bullish or Bearish?The EURUSD pair hit our 1.07250 Target of our March 27 analysis (see chart below) before the current 1-week rebound: Right now it is giving mixed signals as the latest rebound made the 1D RSI break and stay above its MA trend-line, which is a pattern it following on the February - March Bullish Leg. At the same time though, the 2024 Channel Down is intact but if the RSI break-out prevails, we expect a new (dotted) Channel Up to emerge. Obviously the pair is on critical crossroads as far as the long-term trend is concerned. Our plan is to buy on the next 1D MA50 (blue trend-line) pull-back and target 1.09815 (Resistance 1). We are only willing to take the loss if the price breaks below the Symmetrical Support Zone, and sell targeting 1.05500 (-4.00% decline from the previous Lower High, similar to the Channel's first Bearish Leg. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURUSD Is Ready to Go UP🚀🔨 EURUSD is breaking the 🔴 Resistance zone($1.0848-$1.0840) 🔴. 🌊According to the theory of Elliott waves , EURUSD seems to have completed the corrective waves and is now ready for the next five impulsive waves . 🔔I expect EURUSD to go UP at least the 🟣 Yearly Pivot Point 🟣 after breaking the Resistance line and ⚔️ Attacking ⚔️ the upper Resistance lines again. Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
7
EURUSD Bearish Megaphone. Will it break out?EURUSD is trading inside a Bearish Megaphone with the price very close to its top. This is still a sell unless it crosses over the top of the pattern. Trading Plan: 1. Sell on the current market price. 2. Buy if the price crosses over the top of the Megaphone. Targets: 1. 1.09800 (Resistance A). 2. 1.07000 (Fibonacci 0). Tips: 1. The RSI (1d) crossed over its MA trendline, which is what happened when the last Bullish Leg of the Rectangle started. Please like, follow and comment!! Notes: Past trading plan:
by TradingBrokersView
Euro can reach resistance level and then make downward impulseHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a few moments ago rebounded from the resistance level and little declined, but soon it turned around and made a strong impulse up to 1.0940 points, thereby breaking the resistance level, which coincided with the seller zone. After this movement, the Euro started to decline in a downward channel, where it broke this level one more time and later declined to support the line of channels. Then price rebounded and rose to the resistance line of the channel, after which turned around and continued to move down in the channel to the support level, which coincided with the support area. When the price reached this level, the EUR broke it and declined even lower support area, but when it reached the support line, the price turned around and started to grow, exiting from the downward channel. Soon, the price broke the 1.0770 support level and rose to the seller zone, but at once turned around and fell to the support line back, making a fake breakout. Also recently, the Euro rebounded from this line and started to rise. In my opinion, the EUR can reach a resistance level and then rebound down the lower support line, thereby breaking it and after this, the price will continue to fall. For this reason, I set my target at 1.0800 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
EURCHF:🟢Is it bullish...?!🟢(Details on caption)This is a beautiful price action. We can see a clear market maker-buy model here. Smart money reversal and distribution phase one is already done, now we should wait to intermediate low form and then buy. Now, I can see the steel side liquidity formed above and inside the FVG which is a high-probability scenario for buy. If the price continues to create a higher high and higher low, we should wait for the price to grab the liquidity below the low and then look for a buying opportunity in a lower time frame. 💡Wait for the update! 🗓️08/04/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
1
Must-know events for the trading week Must-know events for the trading week The week ahead in the US will be marked by significant events, including the release of the FOMC meeting minutes and March inflation data. Alongside the meeting minutes, investors will continue to analyze speeches from various Fed officials: Recent remarks from Minneapolis Federal Reserve Bank President Neel Kashkari revealed that he had anticipated two interest rate cuts this year. However, he noted that if inflation remains sluggish, no cuts may be necessary. This outcome would really surprise the market, which is mostly still expecting three cuts, starting in June. Headline inflation is expected to rise for a second consecutive period to 3.4%, while the core rate is projected to decline to 3.7%, reaching its lowest level since April 2021. In Europe, all eyes will be on the European Central Bank's meeting, where current interest rates are anticipated to be maintained. The likelihood of future rate cuts will be assessed by the market at the same time. In Japan, investors will be monitoring potential intervention actions from the Bank of Japan to support the yen. Governor Kazuo Ueda will also be speaking during the week regarding the central bank's future steps. Meanwhile, the Reserve Bank of New Zealand is expected to leave the official cash rate unchanged at 5.5%. The RBNZ's latest forecast from February suggests that the OCR will remain steady until early to mid-2025, despite expressing increased confidence based on recent data.
TVC:DXY
by BlackBull_Markets
2
EURO - Price can bounce up to $1.0900, breaking resistance lineHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to trades in flat, where it some time decliend to support area, after which it started to grow. Price left flat, and then reached $1.0935 level and even entered to resistance area, where EUR little time traded. After this, Euro broke $1.0935 level and fell below, after which price rose to this level again and made downward impulse. Euro fell to support line, breaking $1.0820 level, but soon it turned around and made upward impulse to resistance line. Also, price broke $1.0820 level again, and reached resistance line, but recently it fell and then started to rise. In my mind, Euro can little decline and then bounce up to $1.0900, breaking resistance line. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
HelenP. I Euro will fall to trend line and then start to move upHi folks today I'm prepared for you Euro analytics. Some time ago price fell to the support zone, which coincided with the 1.0730 support level, and at once turned around and made a strong impulse up to the resistance level. After this, the price made a small correction movement and later continued to move up, and soon EUR reached a resistance level, which coincided with the resistance zone again. Price broke this level, made a retest, and rose to the trend line, after which it turned around and started to decline. In a short time price fell below the 1.0870 level, breaking it, and continued to move down near the trend line. Soon, the Euro fell to a support level, after which the price at once rebounded and made impulse up higher than the trend line, thereby breaking it. Recently price reached a resistance level also, but soon turned around and started to decline, so, I expect that the Euro will decline to the trend line and then rebound up. That's why I set my target at 1.0835 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
5