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EURUSD trade ideas

#EURUSD 1HEURUSD 1-Hour Analysis The EURUSD pair is trading within a downtrend channel on the 1-hour chart and is approaching a key support area near the lower boundary of the channel. This support zone presents a potential buy opportunity as it may act as a reversal point for a short-term bullish move. Technical Outlook: Pattern: Downtrend Channel and Support Forecast: Bullish (Buy Opportunity) Entry Strategy: Consider entering a buy position near the channel's support line, confirming with bullish price action signals such as a bullish engulfing candlestick or a bounce from the support level. Traders should ensure proper risk management by placing stop-loss orders below the support level to account for potential breakdowns. Profit targets can be set at the midline or upper boundary of the channel for optimal returns.
Long
by PIPSFIGHTER
EURUSD_1D&1W_SellAnalysis and review of the economy and the Eurodollar chart Elliott wave analysis style Mid-term and long-term time frames The euro is in a downward trend. Trading position is from sell to buy. In the long term, the market has entered a large ABC correction after completing five rising waves, which is currently in wave C. Wave C consists of five downward waves, which is currently on the way down as wave 5. The main resistance and ceiling of wave 4 is 1.06100 The targets and support numbers are 1.04070 and 1.02020 respectively, and the last target and support number is 1.00000. Euro zone is not in good condition according to data chart conditions
Short
by Elliottwaveofficial
EURUSD: the ECB week aheadThe Non-farm Payrolls for November were the main macro indicator that the market was waiting for during the previous week. The NFP of 227K in November was slightly above the market expectations of 200K. At the same time, the unemployment rate in November increased a bit to 4,2%, from the previous 4,1%. Average hourly earnings were higher by 0,4% for the month, which brings the indicator up by 4% for the year. As for other US macro data published during the week, the ISM Manufacturing reached the level of 48,4 in November, modestly above market estimate of 47,5. The ISM Services PMI in November reached the level of 52,1 which was lower from market estimate of 55,5. Michigan Consumer Sentiment preliminary for December is standing at 74,0 a bit higher from the market expectation of 72,5. Inflation expectation for the next five years has a bit decreased to the level of 3,1%, from 3,2% posted during the previous month. The Manufacturing industry in Germany continues to slow down. As per posted HCOB Manufacturing PMI final for November, the index in Germany reached the level of 43, which was below market estimate of 43,2. The same index reached 46 in the Euro Zone a bit better from forecasted 45,2. At the same time, the services sector in Germany is doing better from manufacturing, as HCOB Services PMI final for November reached 51,6 a bit better from estimated 49,4. The same index for the Euro Zone was also standing at the level of 51,6. The Producers Price Index in the Euro Zone dropped by -0,6% in October, bringing the total drop to -3,4% for the year. The Retail Sales in the Euro Zone were higher by 0,5% in October, bringing the indicator up by 2,9% for the year. The Industrial Production in Germany dropped by -2,5% in October for the month, which was significantly below market expectations of +2,5%. Despite the relatively solid jobs data, the market is increasing odds that the Fed will further cut interest rates at their December meeting. The USD weakened a bit during the previous week, from the level of 1,048 up to the level of 1,062. The currency pair ended the week at the level of 1,056. The RSI started its path toward the upside, however at the level of 45, there is no clear sign that the market is currently eyeing the overbought market side. The moving average of 50 days continued its divergence from the MA200, confirming the cross occurred two weeks ago. The week ahead will be the ECB week. The Europeans will decide on the future course of reference interest rates. Considering decreasing inflation, but also weakening of the EuroZone economy, the market is expecting to see a further 25 bps cut. On the other hand, the US market will digest the latest NFP and inflation data and position accordingly for the FOMC meeting, scheduled for December 17-18th. As per current charts, there is some probability for resistance line at 1,07 to be tested, but first the 1,06 level should be clearly breached. At the same time, charts are also showing some probability that 1,05 support could be tested for one more time. Important news to watch during the week ahead are: EUR: Inflation rate in Germany final for November, ECB Interest Rate Decision (expectations: 3%), ECB Press conference after the ECB meeting, ECB Economic Projections, Balance of Trade in Germany for October, Industrial Production in the EuroZone, HCOB Manufacturing PMI flash for December in Germany and the Euro Zone USD: Inflation rate in November, Producers Price Index in November
by XBTFX
EURUSD: Standard Channel Up targeting above the 4H MA200.EURUSD may have turned bearish today on its 1D technical outlook (RSI = 41.238, MACD = -0.005, ADX = 33.591) but 4H remains neutral as the pullback is the technical bearish wave of the Channel Up you see on the chart. The two bullish waves we've had so far have been exactly the same at +1.65% with the 4H RSI S1 Zone providing the most accurate buy entries. Consequently, this is now the best level to go long and target a crossing over the 4H MA200 on another +1.65% bullish wave (TP = 1.06675). 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. ##
Long
by InvestingScope
1
Lingrid | EURUSD High-Probability Shorting OpportunityThe price perfectly fulfilled my last idea. It hit the target. FX:EURUSD is currently moving sideways following a significant bearish downturn in autumn. I believe the market will remain in this consolidation zone for a while, as it typically consolidates after such substantial movements. However, if the price retests the channel boundary and rebounds from it, there is a greater likelihood that it will move down, from the resisatnce zone and channel border within the major bearsih trend. My goal is support zone around 1.04300 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
2
Trading Signal for EUR/USD for December 9-11, 2024:We could expect EUR/USD to continue rising and thus, cover the gap left at 1.6466. finally, the instrument could reach the 200 EMA around 1.07187. According to the H4 chart, we can see that the euro is overbought, which means that any attempt to continue rising will be seen as an opportunity to sell. Our trading plan for the next few hours is to sell the euro below 1.04790. or wait for confirmation above 1.06124. to buy.
by CEO-PREMIUM-ANALYSIS
3
EUR/USD ANALYSISIn this analyze we are analyzing 1H time frame to identify that what will be the next move come occurs in EURUSD currency pair. I'm expecting that first price came down and touches our buying zone and than again move in upward direction. Let's wait when price enter into our zone and observed how will price react into our zone. Always use stoploss for your trade. Always use proper money management and proper risk to reward ratio. This is just my analyze or prediction. #EURUSD 1H Technical Analyze Expected Move.
Long
by TradeTacticsreal
1
Euro can rebound up to 1.0700 level, exiting from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago started to decline inside the downward pennant, where it at once rebounded from the resistance line and fell to the 1.0700 level, which coincided with the seller zone. Then EUR tried to grow, but failed and in a short time declined below the 1.0700 level, breaking it. Next, the price continued to decline and later almost reached the support level, after which turned around and some time traded a little higher at this level, but didn't fall to it. Later, the rice dropped below the 1.0485 level, which coincided with the buyer zone, breaking it and reaching the support line of the downward pennant, after which started to grow and made a gap. After this movement, the Euro broke the 1.0485 support level one more time and made a retest. Next, it little grew, after which made a correction to the support level and then rose to the resistance line of the pennant. But a not long time ago, the price fell to the support line and now it trying to grow. For this case, I think that the price can correct to the support line and then rebound up to 1.0700 resistance level, thereby exiting from the pennant pattern. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
EUR - LONG - Swing Trading*This is a risky trade since if it breaks support it can take us to very low levels, which is why an appropriate stop loss must be used. We are in a support between 1.042 and 1.045 that is holding up very well until now. Now that time has passed, it seems we are close to breaking 1.05 and will remain there in the following days. It is necessary to give the trade time of around 6 to 14 days to reach the targets. Targets: T1: 1.059 - 1.060 (protect or take partial) T2: 1.065 (close - 6 days) T3: 1.080 (close - 14 days)
Long
by leonardobarriosr69
EURUSD could slump 280 pips following tomorrow's ECB meetingThe U.S. consumer price figures were not enough to trigger a slide in EURUSD, nor did they lead to a rebound. Instead, the market is trading sideways as we await tomorrow's ECB rate meeting. The ECB is expected to cut rates, with the possibility of signaling a 50-basis-point cut in upcoming meetings due to weak economic growth and inflation at target. From a technical standpoint, the price has formed an inverse head-and-shoulders pattern, which might fail. The pattern would invalidate and trigger if the price falls below the right shoulder, currently at 1.0462. If this level breaks, the price could drop by the same distance as the projected rise from the pattern, roughly 280 pips, targeting 1.0181. Trading in smaller chunks is advisable unless the market moves quickly toward the target. What's your view? Could this play out, or do you expect a false breakdown? This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets
EU is ready to dropHi traders, Last week EU made a bigger ABC pullback (orange) to the 38.2 fib retracement of the last impulsive wave. It's clear that it is a correction and not a leading diagonal. Price broke structure but didn't close above it, so the swing low gets weak and I expect it to break. Last Friday it started the drop already and changed the orderflow to bearish. I don't expect it to go up once more into the higher Daily FVG's. Next week we could see a small correction up and a big drop to break the swing low. After that price could drop to the lower Daily FVG to finish wave 5 (black). Let's see what the market does and react. Trade idea: Wait for a small correction up on a lower timeframe and trade shorts. If you want to see more from my analysis, please make sure to follow me, give a boost or respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! Eduwave
Short
by EduwaveTrading