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Eurusdanalysis

EUR/USD Faces Turbulence Amid Sluggish Eurozone DataThe EUR/USD currency pair saw a decline to 1.0726, impacted by weak Eurozone economic indicators and a hawkish ECB stance on inflation. On the other hand, the US displayed better-than-expected Factory Orders, along with Fed hints at possible rate adjustments. The pair has also broken below key technical support levels, capturing market attention for future moves. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉 ENTRY PRICE: 1.0720 ✅ TAKE PROFIT: 1.0635 ❌ STOP LOSS: 1.0770 ANALYSIS: The pair has shown a consistent downward trend, breaking below key technical indicators such as the 200-DMA at 1.0819. Fundamental indicators like the disappointing PPI and PMI data for the Eurozone also point to further downside risks. The hawkish stance from ECB amidst economic slowing adds to the pressure on the EUR. Conversely, the US is showing economic strength, offering support to the USD. TRADE PLAN: Enter a sell position at 1.0720. Set the stop loss at 1.0770 to limit potential losses, given that this level serves as a strong resistance point. Target a take profit at 1.0635, the May 31 low, offering a reasonable exit for a short-term trade. Monitor upcoming US PMI data and Federal Reserve meetings for any drastic changes that could affect the trade. FINAL THOUGHTS: Given the fundamental and technical indicators, a sell signal appears to be the more appropriate trading decision for EUR/USD at this juncture. The trade offers a good risk-reward ratio, aligning well with the current bearish trend. Traders should remain vigilant for updates that could shift the market dynamics.
Short
by RichDadph-FX
Buy Zone Alert: 3 Key Levels Converge for Buying OpportunityContinuing from my previous idea shared last month (refer to the related post below), the market has played out exactly as anticipated. The sell-off occurred as expected, taking place at the Monthly 0.618% Fibonacci level. The Monthly candle closed back below the crucial 1.10 resistance level, ultimately confirming that the breakout was indeed a fake one on the Monthly charts. So, what's the next step ? At present, the market is on a gradual descent towards the 1.07 level. This trend becomes evident when you observe the momentum of price action, gauged by the size of the candles, on the lower timeframes. For a visual representation, you can check out the daily chart image below Anticipating the movement around the 1.07 mark, it's reasonable to expect a buying response due to a convergence of factors in this area. First the newly established weekly BUY/DEMAND level holds substantial weight. This very level kickstarted the upward move that led to the 0.618% Monthly Fibonacci level. The speed at which price is retracing back to this levels signifies a notable zone of interest for potential buyers. The next factor is the weekly trend line located around 1.072 marked on the chart, you will also notice price has been moving up in a ascending channel hitting the trendline then popping a new high could this happen again?? A third influential factor around this area is the Monthly support level, situated around 1.064. This level had held its ground as a pivotal support for several years, only succumbing to a breach in the past year. Considering these converging factors, my attention will be directed towards identifying buy signals on my TRFX indicator across the 4-hour to daily charts. I intend to initiate a position as price dips below 1.075, anticipating the likelihood of a more pronounced descent towards 1.06 before eliciting a response. Initially, the target for this strategy is set at the 1.10 resistance level. Subsequently, the course of action will be determined by the prevailing price movement at this juncture. A decisive breach and a MONTHLY CLOSE above 1.10 would suggest an upward trajectory towards 1.15. However, if 1.10 proves to be a resilient barrier once again, the possibility of a downward move towards parity cannot be dismissed. To grasp the background of the sell concept from the prior month, I encourage you to refer to my linked post.
Long
by TheFxAce
29
EUR/USD Faces Potential Losses Below 200-Day SMA Amid Weaker PMIThe EUR/USD currency pair is testing the critical 1.0800 region, with potential further losses expected below the 200-day SMA. Preliminary PMI data shows manufacturing resilience but weakness in services in key Eurozone countries. A soft technical outlook and extended losses near the 200-day moving average underline the pair's vulnerability. Key support and resistance levels must be closely monitored, as the current trend indicates a continued downward trajectory. Market sentiment and economic data are driving these dynamics. TRADE IDEA DETAILS CURRENCY PAIR: EUR/USD CURRENT TREND: Downward TRADE SIGNAL: Sell 👉ENTRY PRICE: 1.0800 ✅TAKE PROFIT: 1.0750 ❌STOP LOSS: 1.0835 ANALYSIS: With the combination of soft PMI data and a weak technical outlook, the EUR/USD pair seems set to continue its downward trend. The significant 200-day SMA has been tested, and a breach below this level could instigate further losses. Support levels identified at 1.0750/1.0775 and resistance at 1.0835/1.0845 set clear parameters for the trade. FINAL THOUGHTS: The current market sentiment and technical analysis point toward a potential sell opportunity for EUR/USD. A well-defined trade plan, with a close watch on key support and resistance levels, will be essential in navigating this opportunity. The trade reflects both immediate market reactions and future financial implications, demanding a strategic and vigilant approach.
Short
by RichDadph-FX
EURUSD Technical Analysis and Trade IdeaThe EURUSD has exhibited a bearish trend over an extended period. As we approach high-impact calendar events today that hold the potential to sway the euro's performance, an uptick in market volatility is anticipated. I am actively identifying potential entry levels, and my attention is fixed on a critical resistance threshold. If today's events result in negative data, there's a likelihood of witnessing an upward liquidity sweep towards the resistance level outlined in the video, offering a potential selling opportunity. It's important to note that all details are explained in the video; however, this content should not be misconstrued as financial advice.
Short
by tradingwithanthony
1
DeGRAM | EURUSD short from kill zoneEURUSD is moving in a descending channel. It bounced off the support, following the bullish divergence. The market is in a bearish trend, so there is a kill zone where we have a fibo cluster and round number 1.09100. On the daily timeframe, we have doji bars indicating indecision or consolidation. We expect a rebound from the kill zone. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
8
EURUSD Technical Analysis and Trade IdeaThis video provides a quick analysis of the EURUSD. The currency pair has been experiencing a notable downward trend marked by considerable momentum. Throughout the video, we discuss the trend, support and resistance levels, price action, market structure, and a potential trade opportunity. It's important to emphasize that this content is strictly intended for educational purposes and should not be interpreted as financial advice.
Short
by tradingwithanthony
3