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7 Dimension analysis for EURUSD🕛 TOPDOWN - Bearish Momentum in a Multi-Month Downtrend Overview: The monthly and weekly analyses indicate a multi-month downtrend with the initiation of a current impulsive bearish move. The focus is on the daily timeframe for a detailed perspective. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bearish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Bearish impulsive move in progress, marked by a proper high. 🟢 Inducement: Completed. 🟢 Pull Back 1st: Deep pullback with a reversal and bearish momentum. 🟢 Internal Structure: Choch (Contraction) observed. Ext OB mitigated, indicating a potential reversal. 🟢 Resistance/Supply/Distribution/Premier: Multiple indicators, including trendlines, suggest further downward movement. 2️⃣ Pattern 🟢 CHART PATTERNS Raising Wedge breakout signals bearish continuation. 🟢 CANDLE PATTERNS ey Considerations: Record session count with a Change in Guard (engulfing) candle, a strong reversal sign. Momentum signals, including strict engulfing and a last bullish FOMO candle. 3️⃣ Volume: Pivot points of fixed range volume show volatile reversal signals. Average volume during correction move reinforces the bearish bias. 4️⃣ Momentum RSI: 🟢 Momentum State: Sideways zone. 🟢 Range Shift: From bullish to sideways with a loud move. 🟢 Loud Moves: Bearish loud move observed. 🟢 Overbought/Oversold Rejections: Count of 3. 5️⃣ Volatility Bollinger Bands: 🟢 Middle band provides support, but momentum suggests potential breakage. 🟢 Formation of a W pattern at the top of the move. 6️⃣ Strength: USD is stronger than EUR, adding to the bearish bias. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bearish ☑️ Current Move: Impulsive ✔ Support/Resistance Base: Supply area and extreme Order Block. ☑️ Candles Behavior: RSC, Momentum - both patterns are bearish. ☑️ Trend Line Breakout: Confirmed. ☑️ Final Comments: Sell right now. 💡 Decision: SELL. 🚀 Entry: 1.08450 ✋ Stop Loss: 1.1030 🎯 Take Profit: 1.0143 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:3.75 🕛 Expected Duration: 30 days SUMMARY: The analysis strongly supports a bearish momentum, aligning with the ongoing multi-month downtrend. Key indicators such as candle patterns, volume considerations, and momentum signals reinforce the sell decision. The strategy involves clear risk management and exit criteria.
Short
by Optimum369
3
EUR/USD Holds Steady Above 1.1000 Amidst US GDP Data and..EUR/USD Holds Steady Above 1.1000 Amidst US GDP Data and Upcoming Core PCE Report The EUR/USD pair maintains its positive stance, firmly holding ground above the psychological mark of 1.1000 as it reaches its highest level in four months during the early Asian trading hours on Friday. The pair's trajectory aligns with our previous forecast, where the price successfully reached the initial take profit at 1.10100. Key Market Movements: EUR/USD is currently trading around 1.1008, marking a modest 0.05% gain for the day. The pair continues to follow a bullish uptrend, supported by positive momentum and favorable technical signals. US GDP Growth Data: The US GDP growth number for Q3 expanded by 4.9%, slightly below the market's estimation of 5.2%. This data influenced the market dynamics but did not deter the EUR/USD's upward trajectory. Upcoming Focus on US Core PCE Report: Investors are eagerly anticipating the release of November’s US Core Personal Consumption Expenditure Price Index (Core PCE) on Friday. Projections suggest a 0.2% month-on-month (MoM) rise and a 3.3% year-on-year (YoY) increase. This data is expected to impact the pair's movements as traders assess the inflationary landscape. ECB Statements and Market Sentiment: European Central Bank (ECB) Vice President Luis de Guindos emphasized that it is premature for monetary policy to ease, expressing confidence in avoiding a technical recession in the Eurozone. ECB Governing Council member Martins Kazaks indicated that the central bank intends to maintain current interest rates for an extended period, potentially pushing back the expected rate cut to mid-2024. Technical Outlook and Targets: The EUR/USD pair's bullish trend is evident in higher timeframes, presenting potential for a further uptrend. Our second take profit target remains at 1.11500, providing an optimistic outlook for continued bullish momentum. As the EUR/USD pair navigates key economic data releases and central bank statements, traders are advised to monitor developments closely, considering potential shifts in market sentiment and the impact on the pair's trajectory. Our preference Long positions above 1.08600 with targets at 1.10650 & 1.1150 in extension.
Long
by FOREXN1
1
EURUSD trading ideas todayThe EURUSD lost momentum on Wednesday as concerns about the eurozone's economic outlook intensified. However, the intraday bias remains neutral and more consolidation is likely below 1.1008. A further rebound is expected as long as the 1.0722 support level is held. On the upside, a break above 1.1016 would resume the overall uptrend starting from 1.0450 and retest the high of 1.1274. From a broader perspective, the EURUSD is still hovering within a consolidation zone in 2023 with strong resistance at 1.1275 (a 17-month high) and support at 1.0450 (a 10-month low). If it breaks above the 200-week EMA, then it could touch the 200-week EMA at 1.1150 ahead of 1.1275. a move higher could shift the bias to bullish. However, any move below the 50-week and 100-week SMAs will cause it to fall to 1.0450, below which the psychological barrier of 1.0200 will be closely watched to prevent further declines. In the near term, the EURUSD could break below 1.0880 and the 4-hour 100 SMA at 1.0870 to add bearish pressure and turn bears' attention to 1.0825 until the December low at 1.0715. It is recommended to go short at the highs.
Short
by carefulLion07pab
EURUSD tends to decrease when it encounters resistanceThe EURUSD appeared to be on firm footing on Monday after falling below the psychological barrier of 1.10 on Friday. However, the recovery is unlikely to last long as much weaker-than-expected German Ifo data and rising bearish momentum in the 1D timeframe are keeping the near-term trend under pressure. Additionally, last week's (1W timeframe) long upper shadow and the repeated failure of the weekly close to break above the 1.1000 threshold exacerbated the negative signals of the momentum. Currently, the price is holding above the 38.2% Fibonacci retracement of 1.0900 of the 1.0723 - 1.1009 uptrend line, which is expected to show a slight bullish bias, but more work on the upside (e.g., a close above 1.0950) would be needed to remove the downside threat; otherwise, a continuation of the bearish structure would be expected. It fell below the threshold of 1.0900 and the 20-day SMA (1.0875), which will likely lead to further declines after the completion of the reversal pattern and the double top. It is recommended to go short at the highs.
Short
by NicoTradingMaster
EURUSD: The dollar is weakening amid rising expectations for a r The dollar is currently volatile against most major currencies as market sentiment has been hit by expectations that the US Federal Reserve could start cutting interest rates. The exception remains the Japanese yen, which maintains its position against the dollar even after the Bank of Japan's decision to continue its expansionary monetary policy. Fed officials sought to manage market expectations after last week's Federal Open Market Committee meeting hinted at the possibility of a rate cut in 2024. This outlook has led to a rally in financial markets, with current expectations based on the CME FedWatch tool putting the probability of a rate cut at the March Fed meeting at 67.5%. Kyle Rodda, Senior Financial Markets Analyst at Capital.com, said the Fed now has to decide on countermeasures that could be consistent with market expectations or lead to market instability. said it is necessary to do so. Atlanta Fed President Rafael Bostic reiterated Tuesday that he expects two rate cuts in the second half of this year, but stressed there is no need to take immediate action. At the same time, Richmond Fed President Thomas Barkin noted that the central bank's ability to lower interest rates depends on economic development. The dollar index, which compares the greenback against a basket of other currencies, was little changed at 102.20, after earlier falling more than 0.3%. The index hit a four-month low of 101.76 last week. Rodda also said that upcoming economic data will be important in determining the dollar's direction, indicating whether the expected rate cuts next year are justified. Investors are currently awaiting the release of the Core Personal Consumption Expenditures (PCE) Price Index, the Fed's preferred measure of inflation, which could provide insight into whether inflation has slowed enough to warrant easing. may be provided. Will politics start next year?
Short
by Chart_MasterPro
2
EUR/USD approaches minor support level, what now?Hello traders, hope you had a great weekend. Last Friday, we made some good profits of 100+ pips by selling EUR/USD at the 1.10 resistance level. Now, at the moment, the price is approaching a minor support. Whether the support level holds is another question. Price action tomorrow will be the determining factor. Although, as we approach the end of the year, volumes will continue to reduce as most of the big institutional traders will be on holiday. Of course, I would not open any new sells at the current price levels. However, in case EUR/USD spikes up to the resistance again, I will consider putting in new sell trades.
by YourLazyTrader
10
EURUSD H1 / Looking for a SHORT Trade, see why ... 📊Hello Traders! This is my perspective for EURUSD H1. At the moment, the Liquidity level was taken, next, we have a very important resistance level at the price of 1.09600, and also at the same level we can see an Order Block. In case of confirmation, I expect a bearish dominance until the price of 1.08100. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ______________________________________________________________________________ Follow, like, and comment to see my content: www.tradingview.com
Short
by GoodTradeST
EURUSD Long Term Sell Trading IdeaHello Traders In This Chart EURUSD DAILY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
by ForexPlanet20