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USDEUR trade ideas

EURO - Price can bounce up from support line of pennantHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price bounced from $1.0810 level and rose to $1.0935 points, making a first gap. After this, price turned around and started to decline inside pennant, where it first broke $1.0810 level. Then price tried to grow, but failed and soon fell to $1.0515 level, which later broke too and fell to $1.0330 points. But then, Euro turned around and bounced up, making a second gap, and started to trades inside resistance area. Also, the price rose to resistance line of the pennant, but recently it fell back and now EUR continues to trades near support line. I think that price can bounce up from support line to $1.0680, breaking resistance level, and leaving pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
3
The Analysis H4 : Long Position to Resistance Area (1.06250)In my opinion, the graph FX:EURUSD shows a well-defined upward-sloping channel, with the support line at the lower boundary and the resistance line at the upper boundary. Recently, the price rebounded off the support line (highlighted by the green circle), signalling a potential continuation of the channel’s upward trend. Support Line: This lower boundary acts as a strong support level where the price historically tends to bounce. Resistance Line: The upper boundary, around 1.06250, serves as a target for a long position, aligning with previous highs. As long as the price remains within the channel, the bullish bias holds. To confirm this move, monitor for signs of increasing volume or bullish momentum. Goodluck.
Long
by Ninewwy
The USD Crash Thesis I think we're at a major point for USD. It's either about to make a strong bullish breakout or the failure of that implied a sharp down move in the dollar. I've been very bullish on the USD for a while and will be ultra bullish if the following breakouts can be made, but this is also the point where it's best to prep for the failure of the USD bull move - which would likely be a spectacular event. I first floated my USD bull thesis here in mid 2021 just as the bull run was starting. Near the end of it I pointed out the different pending reversal patterns. The first of these was complete. And since that time I've been mainly bullish on the USD. However, the alt forecast was this; If that is the move in play, we'd be very close to the USD reversal. EURUSD making a butterfly (wave 5) low off a two decade downtrend and heading into the C leg to correct that, would equal a crash in the USD. Mirroring the implied move of EURUSD in a C leg onto DXY it'd be suggesting to us that what we've really seen here is the formation of a left shoulder and we're heading into the head. Which would be a spectacular crash move. Alt ways to map this USD crash would be USDCHF would likely make a 1.61 extension low of the failed reversal. The USD bull action of late has been compelling but this has all happened inside of a zone where it would be common to have a bull trap if it was actually setting up a slam. Here's a post from the GBPUSD low. The rally has come up to a similar area where the chop zone was marked into the forecast. This was a 76 retracement and the retracement to the common resistance level was my main reason for getting back in as a USD bull here, fading the XXXUSD rallies. But a failure of these highs to hold would be a strong indication that the GBPUSD downtrend has failed. EURUSD has traded for 2 years in a range. Over the last month we poked out the bottom of that range. This is probably the breaking of the ranging period. It could be a simple break. The lower end of the range is broken and it's time for the USD to shine. Or, this could be the fake out before the upside break in EURUSD. Which would be a USD reversal building into a full blown crash leg is, or near to, imminent. ----- A 2 year range in EURUSD is very likely to set up a trend of not less than 6 months (Broadly speaking, there'll be shallow pullbacks). The odds of there being exceptional money to be made in the FX markets in the first half of 2025 look really high. Boom or bust, USD looks set to make an exceptional move. If we see it starting to weakening in the coming weeks, that could be a sign of it starting a mighty reversal. For the thesis of a C leg in EURUSD to be true, there has to be a crash in USD. C legs are always crash legs. For perspective, here's the EURUSD chart inverted. If that is coming, we'd have to be close to the start of it. Although there could still be a bit of fight in the USD bulls even if the turn is coming. The C leg coming into play in EURUSD would be the best Forex trading op I can think of. It'd be crazy easy to make money short the USD. Worth watch listing and being quick to act if the bearish breakout in EURUSD weekly chart fails.
Long
by holeyprofit
1
EURUSD - SIGNS OF RECOVERY?EURUSD has been in a downtrend (Bearish) for weeks looking at the Elliot wave pattern (D1) and is currently on wave E. But could there be signs of recovery or will it continue downwards to extend wave E maybe to previous low of 1.034 area? A break below 1.04550 would give us some strong confirmation on that. On the other hand (H4), pair is in a range and a descending channel formed therein. Price bounced off support level of 1.046 and somewhat trying to break above it as well. If it breaks above 1.0510 level we could see a rise to 1.0603 level thus bringing an end to wave E. That would also mean DXY would retreat from current strong resistance levels. if price breaks out of range i.e. below 1.046 then I go SHORT. But I would take a LONG bet next week once a break and close above 1.0510 is confirmed. Also RSI is showing some strong divergence on the H4 giving me some more convictions to go LONG. Sentiment data shows a MIXED reaction more reason for a wait and see what price does at these levels. From contrarian view, the bears should have it. Till then. Your thoughts?
Long
by GhosTrader_GT
EURUSD 15/12/24Starting this week the same way we always do—with our markup on EU. Following last week’s chart, we still maintain our bearish bias. This week, we’re focusing on the highs once again as a potential sell entry zone. As you can see on our chart, all key points are clearly marked, highlighting areas to aim for and areas to sell from. Last week, we identified a money-out area, and price reacted perfectly to this zone, aligning with our bias as it has consistently for over a month now! Don’t expect the market to shift its bias unless it provides a very clear reason to do so. For now, we remain patient and wait for potential entry opportunities. Stick to your plan and always follow your risk management.
by PipSurfingSociety
EUR/USD Bearish Divergence Setup with RSI Double Top ConfirmatioAnalysis Overview: I am analyzing the EUR/USD pair across the 1-hour and 15-minute timeframes for a potential bearish reversal setup. The primary focus is on identifying bearish divergence between price and the RSI. Key Observations: 1-Hour Chart (H1): The price is currently approaching a key resistance zone around 1.0540 - 1.0573, as indicated by previous highs. I am observing that while the price continues to climb, the RSI is nearing overbought levels, which often signals exhaustion. 15-Minute Chart (M15): I am monitoring for a possible RSI double top while the price continues to make higher highs. If the RSI fails to break above its previous peak, this could confirm a bearish divergence and signal a potential change in price direction. Trading Plan: Confirmation Trigger: I will wait for the RSI to form a clear double top pattern on the M15 chart, while the price continues to push higher, creating divergence. Entry: A bearish signal will confirm entry near the resistance zone (1.0540 - 1.0573). Stop Loss: Above the resistance zone at 1.0573. Take Profit: Targeting the next support area around 1.0485. The setup focuses on bearish divergence between the RSI and price action. If the RSI confirms a double top while price reaches resistance, this would strengthen the case for a reversal and a potential short trade. Monitoring the M15 chart for confirmation will ensure precision in entry timing.
Short
by Jose_ManuelR
Prediction of EURUSD price decrease in the near future?Dear Traders, The EUR/USD pair is currently hovering around the 1.0378 mark, extending its bearish momentum for several consecutive days. This persistent decline has been largely driven by the Federal Reserve’s hawkish rate cuts, which have bolstered the US dollar and exerted downward pressure on this major currency pair. Analyzing the 4-hour chart, it’s evident that the pair remains below the 34-period EMA, signaling that the bearish trend is far from over. After failing to sustain the upward momentum near the 1.0450 level, the price resumed its descent, reinforcing the dominance of sellers in the market. Given these factors, my personal analysis suggests that the downtrend is likely to accelerate in the near term. Any potential corrective pullbacks, in this context, could present strategic opportunities for sellers to re-enter the market. What’s your perspective on this outlook? Share your thoughts in the comments below—I’d love to hear your take!
Short
by Trader-Briannnn
Elliott Wave View: EURUSD Short Term Remains BearishShort Term Elliott Wave view in EURUSD suggests the decline from 9.25.2024 high is in progress as an impulse. Down from 9.25.2024 high, wave 1 ended at 1.076 and wave 2 rally ended at 1.0936. Pair then resumed lower in wave 3 towards 1.033. Corrective rally in wave ended at 1.063 as the 1 hour chart below shows. Pair still needs to break below 1.033 to rule out any double correction possibility. Wave 5 lower is currently in progress with internal subdivision as a 5 waves impulse. Down from wave 4, wave (i) ended at 1.0539 and rally in wave (ii) ended at 1.0594. Wave (iii) lower ended at 1.0484 and wave (iv) rally ended at 1.0537. Final leg wave (v) ended at 1.045 which completed wave ((i)) in higher degree. Rally in wave ((ii)) ended at 1.0534 and pair has resumed lower again. Down from wave ((ii)), wave (i) ended at 1.0476 and wave (ii) rally ended at 1.0516. Pair resumed lower in wave (iii) towards 1.034 and wave (iv) rally ended at 1.0422. Expect pair to extend lower to end wave (v) of ((iii)), then it should rally in wave ((iv)) before turning lower again. Near term, as far as pivot at 1.063 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
by Elliottwave-Forecast