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EUR/USD 1-Hour Forecast: Long Setup in Focus📈 **EUR/USD 1-Hour Forecast: Long Setup in Focus** 🔹 We’re looking at a potential long setup on EUR/USD, with the current price at **1.07826**. Key levels indicate areas of interest as we aim for a target range of **1.06569 to 1.08723**. 🔍 **Key Levels to Monitor:** - **Support Zones:** 1.07378, 1.07114, 1.06641 - **Current Price:** 1.07826 - **Target Range:** 1.06569 to 1.08723 📊 **Forecast Details:** This setup suggests a potential upward movement as EUR/USD approaches and respects these support zones. A hold above **1.07378** could indicate strong buying interest, and as it moves past each level, the momentum towards **1.08723** strengthens. Maintaining this direction relies on support at **1.07114** and **1.06641**, which could act as re-entry points if tested. 💡 **Market Insight:** Watching these levels closely to gauge momentum and waiting for solid confirmations can help maximize entry opportunities. 👉 Let us know if you’re tracking EUR/USD and share your outlook! #EURUSD #LongPosition #ForexTrading #1HourChart #Pipnest #ForexForecast
Long
by pipnest
Time to long EUR/USD or it will continue the current trend?Technical Analysis: The month of Oct'24 brought EUR/USD from 1.21 to 1.07, it is trading just below the fast EMA. However it seems the trend has slowed down, as a result RSI MA Cross has given a buy signal. This may be very early to get in the trade but it is a signal!! On the chart the price is near next month's M2, if it continues to trade near this price the next month's price will open below the Central Pivot Point. In this scenario the price should touch the Central Pivot Point before going down (if it goes down). Fundamental Analysis: There are major events that might keep the EURUSD below the next month's Central Pivot Point: US Election and the two active wars.
by spranav
EUR/USD: Potential Decline Amidst US Dollar Strength and Econ...EUR/USD: Potential Decline Amidst US Dollar Strength and Economic Developments As we delve into the forex markets, one of the most watched currency pairs, EUR/USD, is facing mounting pressures that could lead to further depreciation of the euro against the US dollar. A confluence of economic indicators, political shifts, and technical analysis suggests that the outlook for the euro may not be optimistic in the near term. US Dollar: Strength from Political Winds Recent trade activity surrounding the US dollar has gained traction, particularly as the Republican Party appears positioned to exercise substantial influence over the economic agenda. With a focus on implementing expansive tax cuts and trimming government spending, the potential for an invigorated US economy grows. This could lead to increased investor confidence in the greenback, bolstering demand and ultimately driving the EUR/USD pair lower. Moreover, support for the US dollar may be further fortified by upcoming economic announcements. Today's schedule is packed with significant economic data, including the unemployment claims, the Federal Funds Rate decision, the FOMC Statement, and the FOMC Press Conference. Each of these factors will provide insight into the health of the US economy and the potential direction of monetary policy, likely impacting the dollar's trajectory. Impact of Trump Tariffs on Europe The economic climate in Europe could face challenges as the repercussions of Trump-era tariffs continue to reverberate. Concerns regarding sluggish growth rates in key Eurozone economies may prompt the European Central Bank (ECB) to adopt an even more accommodative stance. Analysts speculate that the ECB could consider cutting interest rates to near zero by 2025 if economic expansion remains tepid. Such a move would further weigh on the euro, making it less attractive to investors compared to a potentially rising dollar. Technical Analysis: Possible Demand Area From a technical perspective, the EUR/USD pair appears to be approaching another critical demand area. Recent Commitment of Traders (COT) data highlights a contrasting sentiment in the market, with retail traders predominantly holding bearish positions, while "smart money" seems to be accumulating long positions. This divergence can be a strong indicator of upcoming price movements. Analysis of the daily footprint suggests that the price has recently reached and confirmed this demand zone, which may provide a potential reversal opportunity. In line with seasonal forecasting, traders may want to keep an eye on historical patterns that indicate a possible bullish surge. Daily Footprint 6E1! Crafting a Trading Plan Given the myriad of factors at play, traders should align their strategies with their trading rules and risk tolerance. As the economic landscape evolves, the decisions made in the coming days and weeks will be crucial. Monitor Economic Data: Pay close attention to today's economic releases. Positive data could further bolster the USD, while any sign of weakness in the Eurozone could hasten the depreciation of the euro. Watch Technical Indicators: Keep an eye on key support and resistance levels. A sustained move below the current demand area could signal a bearish continuation. Consider Seasonal Trends: Be aware of seasonal patterns that might indicate a potential bullish retracement. Market dynamics can shift quickly, so having a flexible plan is essential. In conclusion, while the EUR/USD pair is currently under pressure, the interplay between political developments, economic indicators, and technical signals may create opportunities for discerning traders. Staying informed and adaptable is key as the market navigates through this evolving landscape. Previous Idea closed: ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
Why I Prefer EURUSD Long Now.EURUSD is showing some rejection post election and USD strength as a result of Trumps win. Trumps inflationary effect is what gives a boost to the USD as it is less likely rates will fall from the FED quickly. Similarly, there is still a case for long side inflows into the EURO, particularly if key data shortly encourages it further. A stronger rebound of the EU economy is causing a hold on rate reducing as it is less necessary. Would not be wholly surprised if a rebound occurs. Take note of the continued sideways movement long term that could easily persist as there is no real favourability of the USD over the EURO. Long side entries favourable and taken for swing moves. Will reflect on price action as the move progresses and goes through key FIBs/Price action levels higher. Interesting to keep an eye on the sentiment case, but so far, does not reflect ultra USD strength VS the EURO.
Long
by WillSebastian
2
EURUSD_118 2024.11.07 09:29:03 Trading Signal SELLFrankPro Signal for EURUSD_118 Type: Screen Signal: SELL TP: 1.07203 SL: 1.07679 Entry Price: 1.07611 Analysis for EURUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, here are my conclusions for the EUR/USD pair: **Short-term (next few days):** * The price is expected to go down, with a potential test of the support area near 1.0685. * A break below 1.0704 could signal further declines to 1.0660 and 1.0645. * However, there is a possibility of a corrective advance, with a potential rebound from the lower border of the bearish channel and a rebound from the bullish trend line on the RSI. * The upside is capped by the 50-day Exponential Moving Average (EMA) at 1.0830, adding to the selling pressure. **Long-term (next few weeks/months):** * The overall trend is bearish, with the pair trading below a flat 100 Simple Moving Average (SMA) and a firmly bearish 20 SMA. * The ECB's cautious stance on monetary policy and weak German data suggest limited near-term support for the euro. * However, the analysis mentions a potential growth towards the area above 1.0925 following a rebound from the support area near 1.0685. * The impact of economic data and ECB policy on the pair's long-term trend is uncertain and will depend on future developments. In summary, the short-term outlook is bearish, with a potential test of the support area near 1.0685, while the long-term trend is also bearish, but with a possibility of a rebound and growth towards the area above 1.0925. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my predictions for the EUR/USD pair: **Short-term (next few days/week):** The price is expected to **go down**. The technical outlook suggests further losses, with potential to revisit the June low of 1.0666 and possibly the 2024 low at 1.0600. The pair has broken below all its moving averages, and technical indicators are firmly bearish despite being in oversold territory. **Long-term (next quarter/12 months):** The price is expected to **stay the same** or **go up slightly**. Long-term forecasts indicate the EUR/USD could trade at 1.08 by the end of the quarter and around 1.06 in 12 months, according to Trading Economics' global macro models. This suggests that the current downward trend may be reversed in the long term, with the pair potentially rebounding from its current lows. Please note that these predictions are based on the analysis provided and are subject to change as new data and events become available. Result: ST=Down LT=Up Analysis Method(2) **Short-term Analysis (Next 24-48 hours)** Based on the current market conditions and forecasts, I expect the EUR/USD price to **go down** in the short term. The bearish momentum, as indicated by the technical analysis, suggests that the pair may continue to decline, potentially testing support levels around 1.0665 and 1.0645. The strong US dollar sentiment, weak Eurozone economic data, and the upcoming Federal Reserve's decision on interest rates (expected to include a 0.25% rate cut) may further contribute to the downward pressure on the euro. **Long-term Analysis (Next week and beyond)** In the long term, the outlook for the EUR/USD pair is more uncertain. While the current bearish momentum may persist in the near term, there are potential upside risks that could lead to a rebound. If the pair holds above key support levels, some forecasts suggest a potential upward movement above 1.0925. Additionally, the impact of the US presidential election and the subsequent policy decisions may lead to a shift in market sentiment, potentially benefiting the euro. Therefore, in the long term, I expect the EUR/USD price to **stay the same** or potentially **go up**, depending on the outcome of the upcoming events and the overall market sentiment. Please note that these analyses are based on the available data and forecasts, and the actual market movements may differ. Result: ST=Down LT=Up
Short
by frankiepro
EUR/USD Short Setup at Key Resistance LevelMy Short Idea Based on Downtrend Continuation Short Entry: 1.0850 Stop Loss: 1.0900 Take Profit: 1.0800 The pair is in a downtrend, forming lower highs (LH) & lower lows (LL) and this retracement to 1.0850 resistance provides a solid short opportunity, The RSI is nearing overbought levels adding confirmation to the bearish setup, The stop loss is safely above resistance to avoid false breakouts and take profit is at 1.0800, where strong support lies. Good Luck!
Short
by kashifone1
EUR/USD May Decline as USD Gains on Trump-Related TradesToday, the EUR/USD pair is under pressure due to the strength of the USD, driven by expectations of higher U.S. interest rates and recent political developments. The pair has fallen to a multi-month low, hovering between 1.0685 and 1.0680. With increased volatility around the U.S. political environment—particularly after Donald Trump’s election win—alongside a Double Top pattern on the market chart, a short-term forecast suggests that if EUR/USD breaks below the 1.07 level, it may test support around 1.05. However, if economic indicators in the eurozone improve, the EUR/USD could have potential for a rebound within its current range. The Federal Reserve's rate decisions and any new fiscal policies could further influence the currency pair's direction in the coming days.
by VivianPalacios280824
1