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EURO - Price can bounce up from resistance area to $1.0850Hi 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 big flat, where it at once bounced from $1.0795 level and tried to rise. Euro failed and fell back to $1.0795 level, but soon it made upward impulse to resistance zone, breaking resistance level. Price repeated breakout of $1.0940 level two times and then fell to $1.0835 points, after which bounced up. Then price continued to decline in wedge, where EUR declined to $1.0795 level and broke it, thereby exiting from flat. But recently price bounced up from support line and rose to resistance area, exiting from wedge. Now, I think Euro can try to break resistance level, and if it does this, that EUR can rise to $1.0850 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
EUR/USD Sees Volatility Amid USD Weakness:Swing Trading ApproachThe EUR/USD pair experienced notable volatility on Tuesday, following our previous forecast indicating a potential bearish continuation. Despite initially touching previous support-turned-resistance levels, the pair managed to close in positive territory. Currently, it remains within our Fibonacci levels of interest, signaling a possible continuation of the bearish trend. Our strategy for EUR/USD swing trading revolves around anticipating another bearish impulse. The USD exhibited weakness during the American trading session on Tuesday, providing support for the rebound in EUR/USD. Despite a negative shift in risk sentiment, investors refrained from placing bets on an extended USD rally. Market participants are now closely watching the release of the ADP Employment Change data from the US. Forecasts suggest an increase of 148K jobs in March. Any print at or below 100K could trigger a selloff in the USD, prompting an immediate reaction. Additionally, the ISM Services PMI data is set to be featured in the US economic docket. Earlier in the week, the USD showed strength following better-than-expected ISM Manufacturing PMI data, particularly the sharp rise in the Prices Paid Index. A similar reaction may occur if the ISM Services PMI beats analysts' estimates. In light of these developments, our outlook for EUR/USD leans towards a bearish continuation of the trend.
Short
by FOREXN1
1
EUR/USD minor correction before 1.07(4/2/2024)Nothing has been changed since our last analysis. EUR/USD is still bearish. But we may see some minor corrections because every indicator are in oversold and DXY is correcting too. 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.)
by fortunamarkets
EUR/USD Descends Below 1.0750 Following US Manufacturing GrowthThe EUR/USD pair faced significant bearish pressure during the American session on Monday, plunging to its lowest level since mid-February, breaching below the key support at 1.0750. The pair's next potential support zone looms at 1.0700, unless it manages to stabilize above the 1.0760 mark. This downward movement in EUR/USD followed the release of US ISM Manufacturing PMI data, which revealed a notable increase to 50.3 in March from 48.4 in February. This marked the first time since September 2022 that the manufacturing sector showed signs of expansion, alongside heightened input price pressures. As a result of this positive data, the likelihood of the Federal Reserve maintaining its policy rate in June rose above 40%, compared to 30% before the PMI release. Consequently, the US Dollar strengthened against its counterparts, exerting downward pressure on EUR/USD. Despite Tuesday's initial bullish impulse, in line with our previous forecast, the overall sentiment for EUR/USD remains bearish, with the possibility of further downward movement. The release of the JOLTS Job Openings data for February by the US Bureau of Labor Statistics, along with speeches by several Fed policymakers, will be closely watched for market cues. Depending on the tone of these speeches and any hints regarding future monetary policy, the USD may experience fluctuations. Should Fed officials suggest a potential rate cut in June, the USD could face selling pressure, potentially aiding a rebound in EUR/USD. Conversely, hawkish comments could bolster the USD and extend the downward trajectory of EUR/USD. In summary, with the US manufacturing sector showing signs of improvement and Fed policy decisions looming, EUR/USD is poised for continued volatility. A bearish trend continuation is anticipated, pending further developments in US economic data and Federal Reserve communications. Our Previous Forecast:
Short
by FOREXN1
1
EURUSD formed the 1st 1D Death Cross since September!The EURUSD pair quickly hit our 1.07250 Target, which we set on our most recent sell signal (March 27, see chart below): Moving out to the 1D time-frame we can see that this is the Bearish Leg of the long-term Channel Down pattern that started at the beginning of the year and we are only halfway through it. Also the pair just completed the first Death Cross on the 1D time-frame since September 29 2023. That is a strong enough sell signal on its own. As long as the price keeps closing 1D candles below the 1D MA50 (blue trend-line), we will remain bearish, expecting a new Lower Low on this 3-month Channel Down. The previous was formed on a -4.00% decline, so a repeat of that targets 1.05500. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EURCHF: Very Bullish Outlook 🇪🇺🇨🇭 EURCHF is trading in a strong bullish trend on a daily. After the pair set a new higher high, it retraced to a solid rising trend line. Analyzing the reaction of the price to that, I spotted a double bottom pattern on a 4H time frame. With the release of CHF/EU fundamentals this morning, the pair successfully violated its neckline. We can expect a bullish movement at least to 0.9773 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
EUR/USD Rebounds Amidst US Exceptionalism: What Lies Ahead?The EUR/USD pair experienced a significant decline towards the end of last week, driven by the release of Eurozone and US flash PMI data. These figures underscored the perceived strength of the US economy, leading to speculation that the Federal Reserve (Fed) may reconsider its aggressive stance on interest rate cuts. The data painted a picture of US exceptionalism, suggesting that the American economy continues to perform relatively well compared to its European counterpart. This sentiment has raised doubts about the Fed's projected timeline for interest rate cuts, potentially prompting a more cautious approach from the central bank. A slower pace of rate cuts by the Fed could bolster the US Dollar, as higher interest rates typically attract greater foreign capital inflows. As a result, the EUR/USD pair may face continued pressure, with potential resistance levels seen around the 1.08600 to 1.08900 area before resuming its downtrend. Traders are advised to monitor these resistance levels closely and consider implementing limit selling positions in anticipation of a potential reversal. Additionally, today's release of US New Home Sales and the Chicago Fed National Activity Index may provide further insights into the health of the American economy, influencing market sentiment towards the EUR/USD pair.
by FOREXN1
1
EUR/USD Analysis: Exploring Reversal OpportunitiesEUR/USD maintains its position around 1.0860 during the early European session on Tuesday, following a positive close on Monday. The USD experienced slight selling pressure, allowing EUR/USD to gain traction at the beginning of the week. However, the pair now finds itself within a potential reversal zone, prompting us to monitor for any discernible patterns before considering entry points. Later today, the US Census Bureau is set to release Durable Goods Orders data for February. Expectations suggest a 1.3% increase following January's 6.2% contraction. While a positive reading could initially bolster the USD, any gains may be tempered unless there is a notable shift in risk sentiment. As traders, we are closely observing the price action in this critical area, awaiting potential signals for a short entry opportunity.
by FOREXN1
1
HelenP. I Euro can fall to trend line and try to break itHi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price declined to resistance 1, after which at once rebounded and rose to almost resistance 2, but then it fell to the trend line. Then price rebounded from this line and broke resistance 2, which coincided with the resistance zone, after which the price some time traded near this area. Later Euro turned around and fell lower resistance 2, breaking it again, but then it tried to back up, and rose to the resistance zone. But the price in a short time turned around and fell to resistance 1, which coincided with the support zone and trend line, after which rebounded and tried to rise more. Price failed and soon declined back to resistance 1 and recently broke it, after which fell to the trend line. But a not long time ago EUR backed up to the support zone, where at the moment price continues to trades inside. For my mind, the Euro will rise to resistance 1 and then continue to decline to the trend line, which maybe try to break, and after this price can decline more. Therefore I set my target at the 1.0725 level. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
5
Euro H4 | Rising into resistanceThe Euro (EUR/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.08414 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level. Stop loss is at 1.08800 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance. Take profit is at 1.07823 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
EURCAD Medium-term Sell SignalThe EURCAD pair has been trading within a 12-month Channel Down and is currently reversing after a Double Top rejection on Resistance 1 (1.47825). Following the 1D MACD Bearish Cross, this has the potential to initiate Phase 2 of the Bearish Leg that started on the November 21 2023 Lower High. Technically this should be at least a -4.47% Bearish Wave, similar to the rejection that started on August 30 2023. As a result our Target is 1.41600 (Support 2). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Euro can bounce up of support level to 1.0845 points in channelHello traders, I want share with you my opinion about Euro. Some days ago price rebounded from the resistance line, which is located in the seller zone, and in a short time declined to the 1.0775 level, which coincided with the buyer zone, thereby breaking the 1.0890 level. After this, the EUR soon declined to the support line, breaking the support level too, but then the price turned around and started to rise. In a short time, the Euro reached a support level, broke it one more time, and continued to move up. After this, the price made a correction to the support line and then rebounded and made a strong impulse up to the resistance line, thereby breaking the 1.0890 level. But soon, the EUR turned around and soon declined to this level and even broke it again. As well then, the price continued to decline in a downward channel, where the Euro broke the support line too and later fell to the 1.0775 support level. But a not long time ago price rebounded and started to rise, so, I think that the Euro can rebound from the support level to the resistance line of the downward channel. For this case, I set my target at 1.0845 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
EURO - Pirce can bounce down from resistance level to $1.0740Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where firstly declined to $1.0940 resistance level, which coincided with resistance area. Some time later, Euro broke this level and fell below, but then it rose to resistance area and then made downward impulse. Price declined to support line of channel and then in a short time rose to $1.0940 level, after which fell back. Euro declined to $1.0810 level, which coincided with one more resistance area and some time traded near this level. A not long time ago price broke $1.0810 level and fell below, after which started to trades near resistance area. Possibly Euro can reach resistance level and then decline to $1.0740 support line of channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
HelenP. I Euro can continue to decline in downward channelHi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price some days ago declined to the support level, but soon broke it and fell even lower support zone. After this movement, the EUR in a short time rose higher at 1.0775 level, but soon fell back. Then the price turned around and at that moment it rose higher than the 1.0775 level, breaking it one more time, and continued to move up to the resistance level, which coincided with the resistance zone and trend line. Soon, the Euro broke the 1.0930 level, and some time traded in the resistance zone, after which turned around and started to decline in a downward channel, where the price at once broke the resistance level again. Next, the EUR declined to the trend line and then rebounded up to the 1.0930 level, after which in a short time it declined to the support level. But recently, the Euro bounced up and is now traded near, so, I expect that the price will rise a little more and then continue to decline in a downward channel, thereby breaking the support level. For this case, I set my target at the 1.0750 level. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
2
Macro Monday 39 - Euro Area Economic Sentiment Indicator (ESI)Macro Monday 39 Euro Area Economic Sentiment Indicator (Next Release is this Wednesday 27th March 2024) Last week we covered the the Euro Area ZEW Economic Sentiment Index (the "ZEW Index") and learned that the sentiment data for the ZEW Index comes from 350 economists spanning the Euro Area (20 of the 27 EU member states that use the Euro currency). The ZEW Index attempts to provide a sentiment lead with economists factoring in their 6 month forward projections into the sentiment data. This week we look at a different more current sentiment indicator, the Euro Area Economic Sentiment Indicator (ESI). The data for the ESI is derived from the businesses and consumers of all 27 EU Member States. The ESI therefore has a larger data set to the 20 countries covered in the ZEW Index. The ESI is closer to the truth of what businesses and consumers are currently experiencing on the ground across Europe. The ESI is not forward looking like the ZEW index, the ESI should be considered a coincident indicator presenting the current state of economic sentiment among businesses and consumers across the EU. In any event we can still use the ESI data and the chart to identify trends and to know where sentiment stands when it is released each month. Interestingly, at present the ESI figure is more negative than the ZEW Index. The ZEW is in positive sentiment territory (forward looking) whilst the ESI is firmly in negative sentiment territory (current outlook). Based on each data sets objective, you would think that the ESI would move into positive territory over the coming 6 months based on the forward looking positive ZEW Index. No guarantees of course. We can watch this as it plays out in real time and see if the ESI follows the ZEW Index. Lets have a closer look at the ESI The Euro Area Economic Sentiment Indicator (ESI) is a measure created by the European Commission to gauge economic confidence across the Euro Area. The survey data for the Economic Sentiment Indicator (ESI) is initially collected at the national level for each country within the Euro Area. These individual country results are then aggregated to create the overall ESI, which reflects the economic sentiment for the entire EU (all 27 countries). The data is also seasonally adjusted to account for regular seasonal variations and provide a clearer picture of the underlying economic trends. The data is derived from survey responses from the following economic sectors in each country (with weightings); 1. Industry (40%) 2. Services (30%) 3. Consumers (20%) 4. Retail (5%) 5. Construction (5%) Balances are constructed as the difference between the percentages of respondents giving positive and negative replies. The ESI data is scaled to a long-term average of 100 with a standard deviation of 10. This means that the average sentiment over time is set at 100. As the ESI’s scale centers around a mean of 100 values above this suggest higher-than-average confidence, while those below indicate lower confidence. It’s seasonally adjusted to reflect consistent economic trends. The Chart (above subject chart) The chart follows the structure discussed above and we have split the chart by color as follows: >100 = Above Average Economic Sentiment🟢Green <100 = Above Average Economic Sentiment🔴 Red ▫️ As you can see on the chart we made a record low in pessimism in May 2020 at 58.7 which was closely followed by a record high in optimism in Oct 2021 at 119.5. ▫️ The chart has arrows that are 17pts in length. You will see the arrows across the chart whereby if there was a greater than 17pt drop from the green zone into red the red zone, this historically has coincided with recession ▫️ The most recent drop from🟢119.5 in Oct 2021 to 🔴93.9 in Oct 2023 is a drop of 25.6pts, greater than the 17pt typical recession drop. "This time might be different" may actually apply because we had all time highs in sentiment in Oct 2021, however that does not detract from the fact we are currently firmly in negative economic sentiment sub 100 at 95.4. ▫️ You can see that any time we have fallen below the 85 level (red dotted line) we have confirmed a recession. This does not mean that you need a sub 84 reading for a recession, only that when this has occurred in the past, it only occurred during some of the deeper recessions. A quick note on the Euro Area terminology as this was bugging me as the ESI covers all 27 EU member states Euro Area Terminology? The term “Euro Area Economic Sentiment Indicator” can be somewhat misleading because the ESI indeed covers all 27 EU Member States, not just those in the 20 in the Euro Area or Eurozone. The name likely persists because the ESI is particularly significant for the Euro Area, where economic policies are closely aligned and the shared currency means that economic sentiment has direct implications for monetary policy. However, the ESI’s broader EU-wide scope allows for a comprehensive view of economic sentiment across the entire European Union, which is valuable for comparative analysis and policy-making at the EU level. Thank for coming along again, if you like the content and find it informative please let me know PUKA
ECONOMICS:EUEOI
by PukaCharts
2
Euro can rebound up to 1.0860 points, breaking resistance levelHello traders, I want share with you my opinion about Euro. If we look at the chart, we can see how the price some days ago started to trades in a downward channel, where it first rebounded from the support line and rose to the 1.0940 resistance level, which coincided with the seller zone. Soon, the price broke this level, and some time traded in the seller zone, but later EUR declined below, after which backed up to this zone. But soon, the price turned around and made a downward impulse to the current resistance level, which coincided with the resistance area. Then price rebounded from this level and rose to the past level, which coincided with the resistance line of the channel, after which turned around and made a downward impulse again to support line of the channel, thereby breaking the 1.0835 level. In a short time, prices rose higher than this level, but recently fell back and even lower resistance area. At the moment, I think that the Euro can decline a little more, after which the price rebounds up to 1.0860 points, thereby breaking the resistance level inside the downward channel. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
EURUSD 4H Death Cross emerging after +2 months.The EURUSD pair is ahead of the first Death Cross on the 4H time-frame since January 19 2024, trading within a Channel Down similar to January's. This technical symmetry suggests that every rebound is a short-term sell opportunity, with the 4H MA200 (orange trend-line) expected to turn into a Resistance until the next Bullish Leg. One last rally towards 1.08750 is possible but as mentioned, for the next 2 weeks, we expect Support 1 (1.07950) to break and fall towards Support 2 (1.06950). We set a more modest target on the Symmetrical Support Zone at 1.07250. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
3
EURJPY,🟢Bullish scenarios🟢 As you can see, the price created equal highs defined as our final target. There are two possible scenarios. Personally, I prefer to see the price move lower once again, and after collecting the sell side liquidity get support from the mean threshold of the order block and the midway of the bullish daily FVG, then we can look for the LTF for entry. It's a high-probability scenario. The second scenario is a low probability, which is the price moves higher from here and leaves the sell side liquidity untouched. 💡Wait for the update! 🗓️25/03/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
3
EURO - Price can turn around and bounce down to $1.0770 levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to decline near support line, but sometimes it rose to resistance zone, but soon continued to fall. In a short time later, Euro even made fake breakout of support line, after which tried to rise but failed. Price fell to $1.0700 points, after which it turned around and in a short time rose to $1.0905 level, breaking $1.0770 level. After this, price broke $1.0905 level and rose a little more, but later started to decline in falling channel. Euro declined until to support line of channel, breaking $1.0905 and simply support line, after which bounced up. So, I think Euro can rise a little more, after which EUR will bounce down to $1.0770 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon