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EUR/USD bullish struggles above 1.0700 supportDear traders! EURUSD is currently in a recovery phase with the bias towards a correction, receiving support at 1.0725. However, overcoming the 1.0900 resistance seems challenging and still on target. Speaking of impactful news: the emerging economic recovery in the Eurozone, combined with the slowdown in the US economy, should bring some support to the pair. Looking ahead, the next important event for this currency pair will be the release of US inflation figures tracked by CPI and the FOMC meeting, both scheduled to take place today . On the new outlook for EURUSD: Upside momentum seems weak but I'm still pretty sure that upside momentum is still intact and there is a chance to fill the gap from Friday, in line with the strategy of opening positions and placing orders Our limits are as indicated on the chart. However, traders should not bet too much on this pair as the price is still below the 1.0800 zone along with upcoming news that puts the market in a cautious state, which could have a negative impact major impact on the direction of this currency pair.
Long
by ConanForex
20
EURUSD continues to target breakout resistanceDear traders! Just like my previous expectation, EURUSD, after being rejected at the 1.0732 support zone and the bulls tried to hold on, the price has recovered with a corrective trend. According to the Fibonacci tool from Trading View, it is expected that if the momentum increases, the next EU recovery points will be 0.618 (i.e. 1.0802) and 0.5 (i.e. 1.0824) and retest the GAP, the price is likely to start head decreased again.
Long
by ConanForex
18
EUR/USD is below 1.0750 as the US CPI and Fed make appearances.EUR/USD is trading sideways below the 1.0750 level during Wednesday's Asian trading session. Traders are refraining from placing new bets on this currency pair ahead of the US key CPI data and the Federal Reserve's policy announcements, which could significantly impact the performance of the US Dollar. We are still awaiting a clear signal from the Fed for EUR/USD to break out of the resistance level mentioned above, and a consolidation above this level would signal a bullish move for us. Our nearest target is 1.08500, followed by 1.09000.
Short
by Jesscica
16
Should We Buy or Sell EUR/USD Today?Hello everyone, what are your thoughts on trading EUR/USD today? Currently, EUR/USD is moving sideways, staying just below the 1.0750 level during Wednesday’s Asian session. Given the upcoming U.S. CPI data and Federal Reserve policy announcements, it’s wise to avoid making new bets on this currency pair until we see how these events play out. They are likely to significantly influence the performance of the U.S. Dollar. If the bearish trend continues, EUR/USD might first target the June low of 1.0719 and could then drop further to 1.0649. What’s your take? Do you think it's a good time to enter a trade, or should we wait for more clarity?
Short
by Alexander_Bennett
14
EUR/USD Continues Its Downward TrendToday, EUR/USD is sticking to its downward trend, trading around the 1.073 mark. The pair is struggling to attract buyers and is under pressure from several factors: Fed Rate Cut Speculation: The ongoing bets on a potential rate cut by the Federal Reserve continue to bolster the USD, making it harder for EUR/USD to gain any upward momentum. European Political Uncertainty: Political turmoil in Europe is weighing heavily on the Euro, especially ahead of the U.S. CPI data and upcoming Fed announcements. From a technical perspective, EUR/USD has broken below its previous bullish channel. After this recent pullback, there's a strong possibility it will test the support level around 1.065. What do you think? Could we see a further dip, or will EUR/USD find its footing soon? Share your thoughts in the comments!
by Odessa_Marlowe
15
EURUSD maintains recoveryHello everyone! Overall, EUR/USD saw renewed selling pressure during the European session to close at 1.0700 as the barrier from expanding US dollar strength combined with impending political instability in the EU exerted downward pressure live price for this currency pair. However, in the short term a recovery is possible from the channel with support from 1.0700. Ryder expects the EU to first retest the 34.89 EMA level and the trend channel before any reaction from the bears with the aim of further declines.
Long
by IAm_Ryder
14
EURUSD continues to fall to 1.0800 after GAP expansionDear traders, EUR/USD is having difficulty holding the 1.0800 support level recently. The upside is limited above this support level as rising political uncertainty in the EU, following the snap election in France, weighs on the Euro. Meanwhile, upbeat US NFP data tempered Fed rate cut expectations, adding legs to the US Dollar's rally. EU Sentix data reviewed. From a technical perspective: From the 1-hour chart, a Gap has been formed at the breakout resistance area along with a reaction at the EMA 34.89. Current support is at 1.0750 if this is breached it could send the EU further down potentially reaching 1.0720 coinciding with a test of the EU's downtrend limits and expansionary support. I am quite optimistic that EURUSD will recover after retesting the above mentioned area and pave the way for a recovery to retest the GAP (price gap) as mentioned before.
by ConanForex
17
EUR/USD hovers around 1.0800 ahead of EU/US dataDear traders! EURUSD corrects previous losses following yesterday's CPI news. That can be seen compared to the session that broke out of the 1.0800 resistance level and reached 1.0852. But overall, the reaction at the 1.0852 resistance area brought the market quickly back to the important support area and formed a classic (bullish) pattern. At the time of writing, the pair trades around 1.0810-1.0815 and is stable in the short term as the market enters a period of news ahead including Eurozone Industrial Production figures in April (scheduled for release on Thursday, with the average market forecast predicting a decline to 0.2% month-over-month). =)If the emerging economic recovery in the Eurozone, combined with the slowdown in the US economy, should help mitigate this gap, bring some support to the pair . And if the rally continues, EURUSD will face immediate resistance at the weekly high of 1.0852 ahead of the June peak of 1.091.
Long
by ConanForex
13
Forex Market Liquidity: Analysis and Implications for TradersForex Market Liquidity: Analysis and Implications for Traders The foreign exchange market is renowned for its dynamic and fast-paced nature. As traders navigate this landscape, understanding the concept of liquidity becomes crucial. In this article, we analyse its components, explore factors that influence it, measure and analyse its impact, discuss potential risks for traders, and present real-life examples to illustrate its implications. What Is Liquidity in the Forex Market? Liquidity in the forex market refers to the ease with which a currency pair can be bought or sold without causing a significant change in its price. Highly liquid assets are usually easily tradable, while less liquid assets may experience more considerable price fluctuations during transactions and bear higher spreads. Liquidity Components The liquidity of a currency pair is influenced by several factors, which traders need to consider when constructing a liquidity-proof trading strategy. These include the market depth, the bid-ask spread, and the trading volume. - Market depth represents the number of buy and sell orders at different price levels in the order book. A deep market with many orders at different price levels typically suggests higher liquidity. - The bid-ask spread is the difference between the highest price a buyer agrees to pay and the lowest price a seller agrees to accept. A narrower spread typically indicates higher liquidity, while a wider spread reflects lower liquidity. Traders often monitor the spread to gauge current conditions. - Trading volume refers to the total number of currency units traded within a specified period. Higher trading volume generally indicates greater liquidity, signalling a robust trend. Low trading volume could indicate liquidity issues. Risks for Traders Arising From Liquidity Levels in Forex Liquidity is a crucial consideration for traders as it directly affects transaction costs and the ease of entering or exiting positions. High levels generally result in lower transaction costs and less slippage, providing traders with potentially more exciting conditions. Additionally, liquidity may contribute to price stability, reducing the impact of large trades on prices. Low levels, on the other hand, can pose certain risks that traders must be aware of. In illiquid markets, larger trades can have a more pronounced impact on prices, potentially resulting in random price movements and unfavourable execution prices. Forex market liquidity implications suggest that low liquidity can lead to increased volatility, making it challenging to analyse price movements accurately. In low liquidity conditions, traders may also experience slippage and delays in order execution, impacting the efficiency of trades. Factors Influencing Liquidity in Forex Trading Various factors influence current market liquidity in the forex market, and understanding these dynamics is essential for traders: - Market Participants: The presence of a diverse range of participants, including retail traders, institutional investors, and central banks, contributes to liquidity. A balanced mix of participants often leads to a more liquid market. - Economic Indicators: Economic releases, such as employment data, GDP figures, and interest rate decisions, can significantly impact a currency’s trading activity. Traders often witness increased volatility before and after such data is released, affecting market liquidity. - Time of Day: Forex operates 24 hours a day, five days a week. Volume varies depending on the time of day, with peak liquidity during the overlap of major trading sessions. Forex Market Liquidity Indicators and Measures Assessing quantitative metrics is a fundamental initial step in a profound forex market liquidity analysis. Let’s discuss some popular indicators which can help evaluate the liquidity level using the trading volume: - On-Balance Volume (OBV): OBV assesses the strength of a price trend by evaluating the relationship between volume flow and price movements. Higher liquidity often accompanies stronger and more sustained price trends. - Volume Oscillator: When the volume oscillator is positive or above a specific threshold, it indicates that the recent trading volume has been relatively high. This may suggest that there is more liquidity in the asset. - Money Flow Index (MFI): The MFI considers trading volume as a component of its calculation. A high trading volume, when combined with significant price movements, can result in a higher MFI reading, indicating strong market participation and potentially higher liquidity. A low trading volume during price movements may result in a lower MFI reading, suggesting reduced liquidity and potentially less market interest. Price Gaps: In illiquid markets, there are fewer participants and lower trading volumes. In such conditions, price gaps are more likely to happen and can be more substantial. With fewer participants, it becomes challenging to match buyers and sellers efficiently. As a result, a significant order or news event can lead to a notable price gap when the market reopens. You can visit FXOpen and explore new trading opportunities for some of the most liquid currency pairs through the free TickTrader trading platform. Real-Life Examples of FX Liquidity To illustrate the importance of considering liquidity in a forex strategy and how it can impact trader behaviour, let’s consider some real-life examples: The 2015 Swiss Franc Depegging In 2015, the sudden decision by the Swiss National Bank (SNB) to remove the Swiss Franc (CHF) peg against the euro had a profound impact on the forex. The depegging in January 2015 led to a sudden drop in value, causing not only an unprecedented shift in trading dynamics but also triggering a significant price gap. The market experienced a reduction in trading volume, highlighting the challenges of liquidity in the face of unexpected events. High Volumes During Trading Session Overlaps The EUR/USD currency pair experiences varying trading volumes throughout different global sessions, primarily influenced by the overlap of major trading hours. The chart below depicts the significant volume spikes occurring during the overlap between the European (UTC 08:00 - 17:00) and North American (UTC 13:00 - 22:00) sessions, commonly known as the "London-New York overlap." This period witnesses peak trading volumes, providing traders with optimal conditions for executing trades. Takeaway Understanding liquidity is paramount for traders navigating the complexities of the financial markets. By comprehending the components of trading activity and analysing influencing factors and their impact on real-life trading, traders may make more informed decisions to potentially reduce risks and optimise their trading strategies. You trade forex and commodity, stock, and index CFDs today by opening an FXOpen account! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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Education
by FXOpen
3
EURUSD today: How to trade to make a profitHello traders, On Wednesday, EUR/USD climbed higher as market risk appetite increased following lower-than-expected U.S. Consumer Price Index (CPI) inflation data. However, the pair's gains were capped by the Federal Reserve's hawkish stance on future interest rates, leading to a late-day pullback. Trend Analysis: Current Range: We anticipate that EUR/USD will trade within a range, initially moving towards the resistance at 1.084. Expected Movement: After a brief sideways movement, we expect a decline towards the support level at 1.073. -Key News to Watch Today: Core PPI m/m: The monthly Producer Price Index (PPI) excluding food and energy. PPI m/m: The overall monthly Producer Price Index. Unemployment Claims: Weekly data on new claims for unemployment benefits. Speech by Treasury Secretary Yellen: Insights on economic policies and market impacts. -Trading Strategy: Stay Alert: Keep a close watch on these data releases as they can cause significant market movements. Entry Points: Look for strategic entry points based on how the news impacts price levels. Risk Management: Ensure your Stop Loss (SL) and Take Profit (TP) levels are set to manage risk effectively. Let's stay sharp and navigate today’s trading opportunities wisely. Happy trading!
by Alexander_Bennett
15
EURUSD: Still discounted!Hello traders! 👋 As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers. Key Observations: Current Level: EURUSD is trading near 1.071, struggling to find upward momentum. Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement. EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts. Trading Outlook: With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions. Stay vigilant and consider these factors in your trading strategy. Happy trading!
by Alexander_Bennett
13
THE EURO is slipping against the US DOLLAR as the greenback streEURUSD is quoted lower by 0.04% at around 1.0756, making the euro softer against the US dollar but slightly higher against most other G10 currencies after the ECB released a draft discussion between Lagarde and several newspapers. The 50-day MA is trending upwards, crossing above the 200-day MA, forming a 'golden cross,' a positive signal for EUR/USD. According to Jessica's analysis and experience, the upward trend is expected to continue if the market remains stable and there are no significant fluctuations. Do you have any other opinions?
Long
by Jesscica
10
EUR/USD: Efforts to recover again!Dear traders! Overall, after Wednesday's surge, EUR/USD retreated and recorded large losses on Thursday. The pair came under pressure on Friday and traded at its lowest since early May, slightly below 1.0700. At the time of writing, the price is stable at 1.0702. The overall outlook from the market remains bearish as the pair continues to trade in a tightening wedge pattern and both the EMA 34 and EMA 89 favor the sellers. But! Conan expects that in the short term, EURUSD will still receive good support with the aim of strengthening to the resistance level (1.0770-10775) and retesting the EMA 34.89 level before falling deeper according to the outlook.
Long
by ConanForex
10
EURUSD: Priority for the downtrend!Hello, friends who love trading EURUSD! Today, we’re observing EURUSD continuing its downward trend, with the price currently hovering around 1.080. -Market Recap: Yesterday's Action: Following the news, EURUSD quickly surged and filled the gap but couldn’t sustain the upward momentum for long. Technical Outlook: Price Pattern: The pair is trading within a narrowing wedge pattern, characterized by lower highs and lower lows. Short-Term Projection: Given these technical signals, EURUSD is likely to experience further declines in the near future. I’m leaning towards selling. What’s your perspective? Do you see more opportunities on the downside, or do you have a different view? Share your thoughts!
Short
by Odessa_Marlowe
10
EURO - Price can make small move up and then continue fallHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to rising channel, where firstly it broke support level, which coincided with support area. Then, in a short time, price rose higher than $1.0670 level, breaking it again and then made correction. After this, EUR continued to move up in channel and reached $1.0790 level, which soon broke too and exited from channel. Next, price started to trades in flat, where it reached two times top part and the last time in made downward impulse. Price exited from flat and broke $1.0790 level, but recently it turned around and start to move up. Possibly, Euro can rise to almost resistance level and then continue to decline to $1.0670 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
5
EURUSD (1971 analysis) - 23% Crash will follow!EURUSD has been in a long-term downtrend since the financial crisis of 2008. On the chart, we can see that EURUSD started its downtrend at the top of the major rising wedge chart pattern. The rising wedge pattern broke bearish in 2015, and the price retested it in 2018. Since then, the price has been going down and has broken another trendline (2000 - 2022), which is a double breakdown. Right now, there are absolutely no signs of strength on this chart, and I expect a pretty severe 23% crash in the next years. Does it mean that the DXY index will go up? Definitely yes. The downtrend is confirmed, and from a technical perspective, there is currently pretty much nothing bullish. How to take advantage of this analysis? What you should consider is to avoid long positions and focus on short positions instead to increase the probability of successful trades. So what are the next major support levels on the way down? I don't really see any major support until 0.87617. This is a strong level because it's the POC (point of control) of the previous mini triangle that was formed during the years 2000 and 2002. I am expecting a pretty strong bounce, but this will probably not be the bottom. The next support is at 0.82311 because this is the major swing low of 2000 and it provides a lot of liquidity. A lot of traders may capitulate around this level. Big players can take advantage of it and buy EUR with a large amount of money. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
10
Euro can rebound up from buyer zone to 1.0800 pointsHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to grow inside the upward channel, where it first declined to the support line and then rebounded higher than the support level, which coincided with the buyer zone, breaking it. Then the Euro reached the resistance line of the channel, after which made a correction movement to the support level and then continued to grow inside the channel. Later price reached a resistance level, which coincided with the resistance line of the channel with the seller zone, but at once turned around and fell to the support line of the upward channel. Soon, the Euro exited from the upward channel and fell to 1.0785 points, after which started to grow near the support line to the 1.0890 resistance level and even entered to seller zone. But later price turned around and made a strong impulse down to the 1.0725 support level, breaking the support line and also making recently gap. Now, the EUR trades near the support level, and I think that price can fall to the buyer zone, after which rebound up from this area. For this case, I set my target at 1.0800 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4