EURO - Price can break resistance level and continue to riseHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some days ago price traded inside flat, where it declined to resistance area and then rose to top part of flat.
Also, when price rose to top part of flat, EUR made a first gap and then made downward impulse.
Price exited from flat and continued to decline inside falling channel, where it broke $1.0760 level and continued to fall.
Later price reached $1.0520 level, some time traded near, and then declined to $1.0335 points, exiting of falling channel.
Euro started to grow inside rising channel, where it made a second gap and some time traded between $1.0520 level.
Now price trying to break $1.0520 level, and I think it can break it and continue to grow to $1.0720 in channel.
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EUR
Potential bullish rise?EUR/CAD has reacted off the pivot which acts as a pullback support that aligns with the 61.8% Fibonacci retracement and could rise to the 1st resistance.
Pivot: 1.48202
1st Support: 1.47236
1st Resistance: 1.49775
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?EUR/CAD is rising towards the resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.4890
Why we like it:
There is an overlap resistance level that lines up with the 50% Fibonacci retracement.
Stop loss: 1.4980
Why we like it:
There is an overlap resistance level.
Take profit: 1.4726
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retracement.
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Bullish bounce off overlap support?EUR/NZD is falling towards the pivot and could bounce to the pullback resistance.
Pivot: 1.79861
1st Support: 1.79243
1st Resistance: 1.82090
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off overlap support?EUR/CAD has reacted off the pivot and could rise to the 1st resistance which acts as an overlap resistance.
Pivot: 1.48895
1st Support: 1.48252
1st Resistance: 1.50070
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish rise?EUR/NOK has reacted off the pivot which has been identified as an overlap support and could bounce to the 1st reistance which acts as an overlap resistance.
Pivot: 11.69836
1st Support: 11.60829
1st Resistance: 11.80308
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?EUR/USD is rising towards the resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.0543
Why we like it:
There is an overlap resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.0564
Why we like it:
There is an overlap resistance level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 1.0502
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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).
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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 🚀
Sell EUR/USD Channel BrekoutThe EUR/USD/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.0482
2nd Support – 1.0445
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Thank you.
EURUSD BUY - Rebound Blueprint Price is respecting the FVG zone (1.0528), signaling a bullish reversal. Watching closely for a surge toward 1.0620 and potentially 1.0645.
The EUR/USD chart shows a potential reversal setup forming around a Fair Value Gap (FVG) at the 1.0528 level. Price has retraced into this FVG, aligning with a high-probability demand zone.
The 1.0530 area, acting as a significant structural support, has shown strong rejections, indicating buying interest.
The FVG aligns with previous inefficiencies in the price, providing a magnet for liquidity before the market resumes its upward trend.
The initial target at 1.0620, where minor resistance could emerge.
A decisive break below 1.0520 would invalidate this setup, suggesting further downside potential.
EURUSD Bulls Will Take Charge?EUR/USD bounces off a strong demand zone around 1.0530. With bullish structure building, we could see a rally towards 1.0650.
A key support zone at 1.0499–1.0530 has provided a strong foundation for a bullish reversal.
The rejection candle and subsequent bullish candles suggest that buyers are stepping in aggressively at this level.
Price is likely to target 1.0649 in the coming sessions, aligning with previous highs and liquidity areas.
Stay patient and follow the structure.
Bearish reversal off 50% Fibonacci resistance?EUR/JPY is rising towards the resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 160.40
Why we like it:
There is an overlap resistance level that lines up with the 50% Fibonacci retraecment.
Stop loss: 161.95
Why we like it:
There is a pullback resistance level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 157.93
Why we like it:
There is an overlap support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Heading into 50% Fibonacci resistance?EUR/JPY is rising towards the pivot and could reverse to the 1st support which acts as an overlap support.
Pivot: 160.59
1st Support: 157.98
1st Resistance: 162.16
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURGBP Potential DownsidesHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.83000 zone, EURGBP is trading in a down trend and currently is in a correction phase in which it is approaching the trend at 0.83000 support and resistance area.
Trade safe, Joe
EURUSD Crucial test on the 4H MA200. Bullish if broken.The EURUSD pair has been trading within a Bearish Megaphone since the September 30 High, which is technically the Bearish Leg of the long-term Channel Down pattern, which we saw on our previous analysis.
Having found support on the 4H MA50 (blue trend-line), the pair appears to be attempting another test on the 4H MA200 (orange trend-line), which rejected the last Lower High (November 05) and has been intact since October 01, making it practically the basic long-term Resistance.
As a result, if the 4H MA200 breaks, the top (Lower Highs trend-line) of the Bearish Megaphone should follow too, which will cause a technical medium-term break-out. Our Target is the 0.618 Fibonacci retracement level at 1.08765.
You may use the Higher Lows trend-line as an additional tool to determine if the break-out will be successful as last time (November 05) the failed to hold and caused the new Bearish Low of the Megaphone. Similar analogy with the 4H RSI Higher Lows trend-line.
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EUR/USD: Diverging Economic Realities Point to Further WeaknessEUR/USD: Diverging Economic Realities Point to Further Weakness
The EUR/USD currency pair faces mounting pressure as economic data and central bank commentary from both sides of the Atlantic paint contrasting pictures. With the year-end approaching, traders are navigating through a mix of historical trends, updated macroeconomic indicators, and shifting monetary policy expectations.
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Eurozone: Fragility Persists
Industrial and Consumer Weakness
Germany's 1.5% MoM decline in industrial orders, though marginally better than expected, reflects ongoing struggles in Europe's largest economy. Additionally, retail sales in the Eurozone fell by 0.5% MoM, highlighting a weak consumer spending environment that continues to drag on growth prospects.
PMI and GDP Concerns
The Composite PMI edged up slightly to 48.3, but contraction persists, underscoring the broader economic challenges in the region. Italy's downward revision of GDP forecasts further dampens sentiment, increasing the likelihood of more accommodative measures from the European Central Bank (ECB).
ECB's Dovish Tilt
ECB policymakers, including Robert Holzmann, have signaled a potential rate cut in December, reflecting a shift towards easing amid the Eurozone's persistent economic struggles. However, political instability, such as France's no-confidence vote against President Macron, adds another layer of uncertainty to the region's economic outlook.
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United States: Resilience Amid Inflation Challenges:
Economic and Labor Market Data
The U.S. economy continues to show signs of resilience. Durable goods orders rose 0.3% and construction spending increased by 0.4%, aligning with expectations. Despite a slight drop in the ISM Services PMI to 52.1, the economy remains in expansion mode.
The labor market also remains a pillar of strength
- Nonfarm Payrolls: 227k (forecast: 220k, previous: 12k, revised: 36k).
- Unemployment Rate: 4.2% (forecast: 4.1%, previous: 4.1%).
- Average Earnings YoY: 4.0% (forecast: 3.9%, previous: 4.0%).
While layoffs have ticked up slightly, strong payroll growth and stable wages suggest continued labor market robustness, albeit with signs of gradual cooling.
Fed's Monetary Policy Path
Fed officials, including John Williams and Mary Daly, have hinted at potential rate cuts in 2024, but progress on inflation appears to have stalled, as noted by Fed Governor Michelle Bowman. Market sentiment is shifting rapidly—traders now see an 85% probability of a Fed rate cut this month, up from 67% before the November jobs report.
Short-term interest-rate futures have surged, reflecting growing expectations of a dovish pivot. However, the Fed remains cautious, balancing inflationary risks with economic stability.
---
Inflation and Consumer Sentiment
The University of Michigan's latest data reinforces the U.S. economy's resilience:
- 1-Year Inflation Expectations: 2.9% (forecast: 2.7%, previous: 2.6%).
- Consumer Sentiment Prelim: 74.0 (forecast: 73.2, previous: 71.8).
Elevated inflation expectations and improving consumer sentiment contrast with the Eurozone's gloomy outlook, further strengthening the dollar's appeal.
---
EUR/USD Outlook: Bearish Bias Remains Intact
Despite historical trends that favor the euro in December, the current economic backdrop presents significant challenges for sustained appreciation. Weak Eurozone data and a dovish ECB stand in stark contrast to the U.S. economy's relative stability and the Fed's measured approach.
Key Factors Driving EUR/USD:
1. Diverging Data: Strong U.S. labor and inflation figures versus weak Eurozone performance.
2. Monetary Policy: Fed's cautious flexibility versus ECB's dovish signals.
3. Sentiment Shift: Rising probability of U.S. rate cuts but with a stronger baseline economy.
While seasonal trends may provide temporary relief for the euro, the broader trajectory points downward. Traders should focus on macroeconomic developments and central bank guidance as the primary drivers for the pair in the coming weeks. The euro's path to recovery remains steep, with the U.S. dollar maintaining the upper hand in the current environment.
Bearish drop?The Fiber (EUR/USD) is reacting off the pivot which acts as a pullback resistance and could drop to the 1st support level.
Pivot: 1.0603
1st Support: 1.0332
1st Resistance: 1.0780
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.