EURUSD - Sell SignalHello, here's a sell signal for EURUSD. All analysis are covered extensively on the chart. I hope you enjoy this trade.Shortby ATRFinder118
EUR/USD Analysis: ECB Stance and Market ExpectationsThe EUR/USD pair has shown strength as European Central Bank (ECB) policymakers refrain from committing to extending the rate-cut cycle beyond the June meeting. This cautious stance suggests that ECB officials are wary of aggressive policy easing, which could reignite inflationary pressures. Market Expectations Adjust In light of recent economic indicators signaling persistent price pressures, such as the Negotiated Wage Rates for the first quarter and the preliminary HCOB Composite Purchasing Managers Index (PMI) data for May, traders' expectations have shifted. Initially anticipating three rate cuts this year, market participants are now expecting only two. Technical Analysis From a technical perspective, the EUR/USD is nearing the 61.8% retracement level from the previous swing high after a pullback around the 1.0800 level. There are several resistances above, with the first significant resistance at the 1.0860 area, and a more crucial resistance at the 1.0900 level. Our outlook suggests a potential bearish retracement towards the 1.0750 level.Shortby FOREXN13310
EUR-USD SellI see potential sells for eur-usd if price simply breaks back below 1.08480 for entry 1 or 1.08359 for entry 2. Making my tp at 1.08051. I could see myself taking this position if price goes down with momentum perferably at New York session. But this might also occur during London session. Good LuckShortby ugoonu24337
EURUSD Swing trade IdeaEURUSD has formed a Bullish Flag continuation pattern in 28 days which will mature in 2-3 days for a proper entry and will take four weeks to most probably hit TPs. There is no divergence and RSI value is 58 which both adds to my theory for EURUSD to continue uptrend.Longby billly4u116
HelenP. I Euro will continue to fall to support line of channelHi folks today I'm prepared for you Euro analytics. Some time ago price reached the support level, which coincided with the support zone, and soon broke this level, made a retest, and continued to move up. In a short time, EUR rose to a resistance level, which coincided with the resistance zone and even rose higher to the trend line, breaking the resistance level. But soon, the price turned around and started to decline in a downward channel, where it at once broke the 1.0865 level, and fell below, but soon it backed up and reached the trend line again. Later price finally broke the resistance level and continued to decline to the support line of the downward channel, after which the Euro rebounded and rose to the resistance zone, which coincided with the trend line, which is the resistance line of the channel too. But recently price rebounded from this line and started to decline. Just now, I expect that the Euro will make a small move up to the trend line and then continue to decline. For this reason, I set my goal at 1.0800 points, which is located near the support line of the downward channel. If you like my analytics you may support me with your like/comment ❤️Shortby FirstNameHelen118
EURUSD: Inside day, First green dayHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range ✅ day 3 cycle Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout Inside Day ✅ 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: Possibility for the market going up stopping traders short from previous HOW, for a buy low setup LOD to HOW Short: NA Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni Longby GianniPichicheroUpdated 446
Analysis of Currency Correlations in Forex TradingAnalysis of Currency Correlations in Forex Trading Navigating the complex landscape of forex trading requires a nuanced understanding of currency correlations. This article discusses the various aspects of the concept, from its definition to practical applications in the world of forex trading. Understanding Forex Currency Correlation Acknowledging the correlation concept may help traders get a better understanding of forex market conditions and aid in the planning of their trades. Currency correlations refer to the statistical relationship between different currency pairs, revealing how they tend to move in relation to each other. This concept is grounded in the idea that the values of currencies can be influenced by common factors such as economic indicators, interest rates, and market sentiment. Historical and Dynamic Correlations Observing the historical and dynamic relation between forex pairs that correlate provides a nuanced perspective on the evolving nature of market relationships. Historical price data shows the patterns and trends over time, offering insights into how pairs have moved in relation to each other in various market conditions. On the other hand, dynamic correlations acknowledge the ever-changing nature of financial markets. Influencing Factors Economic indicators of a country, such as inflation rates and employment figures, serve as fundamental drivers influencing the strength or weakness of its currency. Also central to the landscape are interest rates, with decisions made by central banks impacting currency values significantly. Market sentiment also contributes to the ebb and flow of currency interrelations. Interpreting Currency Correlations The relationship between currency pairs can vary in terms of intensity and duration. Let’s explore how traders measure correlations and which aspects they need to consider. Identifying Strong and Weak Relationships The correlation coefficient is the technical indicator that quantifies the degree to which two currency pairs move in relation to each other. A reading close to +1 indicates a strong positive correlation, while a coefficient near -1 signifies a strong negative correlation. An indicator reading near 0 suggests a weak or non-existent correlation. Correlation Between Forex Pairs May Change Over Time Major economic shifts and events can alter the relationships between currency pairs. The usual negative correlation can transform into a positive one, showcasing how economic turbulence can reshape established relationships. For example, AUD/USD and GBP/USD pairs have a strong positive correlation on the daily chart, which becomes neutral on the weekly timeframe. If we consider a monthly period, the correlation will become positive again. Correlations can manifest differently over various timeframes. Short-term correlations may be influenced by daily economic releases or unexpected events, while long-term correlations may be shaped by broader economic trends, including adjustments in a country's interest rates, alterations in monetary policies, or a combination of economic and political events. Short-term correlations may guide intraday or swing trading, while long-term correlations can influence position trading and investment decisions. The suitability of timeframes is closely tied to the chosen forex correlation strategies. Tools and Resources for Currency Correlations Analysis In addition to the correlation coefficient, there may be custom indicators to calculate and display currency correlations. These indicators can be programmed to suit your specific needs and preferences. Charting platforms equipped with customisation features also enable the simultaneous visualisation of multiple pairs, aiding in the identification of patterns and trends. Forex correlation matrices, available on various trading platforms, offer a comprehensive overview of the interdependencies of currency pairs. Types of Currency Pair Correlation The relative movements of forex pairs can be discussed from two different perspectives. Below, we delve into that matter, offering some practical examples. Currency Correlations While analysing the interrelationship between currency pairs, traders distinguish between three types of correlation. Positive: EUR/USD and GBP/USD A positive relationship is when two currency pairs move in the same direction. Over a specific period, when the EUR/USD experiences an upward movement, the GBP/USD also tends to rise correspondingly. Negative: GBP/USD and USD/JPY Negative correlations indicate movement in opposite directions. For example, when the USD/JPY experiences an upward trend, the GBP/USD tends to exhibit a downward movement, and vice versa. Neutral: EUR/GBP and AUD/CAD This is the case when there is no systematic relation between the exchange rates of the two currencies. The chart below shows that the price movements of EUR/GBP and AUD/CAD currency pairs do not exhibit a consistent pattern of moving in the same or opposite directions. Curious about how other pairs move in relation to each other? Visit FXOpen and try out TickTrader’s free charting tools. Intermarket Correlations In addition to currency pairs, intermarket correlations explore the interconnected relationships between various financial assets. For instance, the relative price movements between currency pairs and commodities or equity markets can influence forex trading strategies. Traders always consider these broader market dynamics to make informed trading decisions. Risk Management By identifying pairs with negative correlations, traders can potentially offset losses in one position with gains in another through a good hedging strategy. Positive patterns, on the other hand, can help confirm trends and reinforce trading strategies. Incorporating correlations into risk management strategies may help traders assess the overall risk exposure of their portfolios more accurately. Challenges and Limitations One challenge lies in the dynamic nature of correlations, which can shift unpredictably in response to economic events or changing market sentiment. Over-reliance on historical data poses a risk, as past patterns may not necessarily repeat in the future. Additionally, currency pairs are influenced by various global markets, while liquidity issues in certain currency pairs may affect the reliability of the patterns identified, particularly in times of heightened market volatility. Takeaway Understanding currency correlations is one of the key components in designing forex strategies. While their analysis offers valuable insights, a broader approach that considers various other market factors is essential for effective performance in forex trading. Ready to try your forex strategies? You can open an FXOpen account today! 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.Educationby FXOpen227
EURUSD STRUCTUREHi guys its DR Trade again, your best market structure coach, like In said im not here to tell you that your trading strategy is wrong and you should use my own , im here to show you the direction of the market for you to align it with your trading style, we will be following this for the weak to come, we are in a bearish market for this pair so till we get our blocks and confirmations we will sit on our hands and wait, do well to like share and follow, stay tuned for more updates.Shortby Dr_Trade1115
EUR/USD Long Setup: Strategic Entry at 1.08288 EUR/USD Buy Trade Analysis We are planning to enter a long position on EUR/USD at 1.08288, aligned with the 61.8% Fibonacci retracement level. The overarching trend remains bullish, indicating potential for a continued upward movement after the current corrective phase. we may see further downside before the uptrend resumes, presenting a strategic buying opportunity at more favorable risk/reward levels. - Key Levels: - Entry:*1.08288 (61.8% Fibonacci retracement level) - Stop Loss: 1.0790 - Take Profit: 1.0872 (targeting a significant resistance level) Fibonacci Confluence: - There is a Fibonacci confluence area around 1.0828, reinforcing this level as a strong support zone and an ideal entry point for long positions.Longby Eleazarahmath115
Bullish sentimentChannel respected continue bullish move Rsi overbought retest 4h and up Longby geokallides224
EURUSD continues to increase prices Hello everyone, As anticipated, the EUR/USD pair has risen in line with the flag pattern, breaking out of the downward trendline and is now trading above 1.087. A stronger recovery could see EUR/USD revisiting the May high of 1.0894, followed by the March high of 1.0981.by Trader_BrianFXUpdated 225
EURUSD Analysis Crossroad Ahead!📈EURUSD Anylisis 🔍Currently EURUSD Finds itself at a crossroads caught between two vitel daily structures. Looking ahead to potential moves here are two scen to watch: 1) Bullish outlook if the market breaks the trend line and seals the deal with a solid close above a hefty resistance line forming a Substantial falling wedge on the dialy chart it might be time to gear up for a bullish ride. Traders could set their sights on a target of at least 1.08950 2) Bearish perspective: on the flip side a Breach of the crucial 1.08050 support level could spell trouble for the bulls. This move would signify strong bearish confirmation possibly paving the way for a significant download plunge with a downsides Target of around 1.08850 In essence the fate of EURUSD hangs in the balance with traders eagerly awaiting signals of either bullish resurgence 🚀 or Bearish dominace in the week a head stay tuned for Updates! 📈Shortby MrCharlie134
EURO - Price can exit from channel and continue rise to $1.0910Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price started to grow near support line and reached $1.0860 level, which coincided with resistance area. Then EUR made downward impulse, breaking support line and support level, which coincided with support area too. But then, price started to grow inside rising channel, where it broke $1.0655 level, and then continued to grow. A short time later, EUR rose to resistance line of channel and exited, after which rose to resistance area. After this, price turned around and soon declined lower $1.0860 level, breaking it again inside falling channel. In my mind, Euro can decline a little, after which bounces up to $1.0910, exiting from channel and breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️Longby WalterMoon114
EURUSD LONGEURUSD has successfully broken and retested the ascending triangle pattern it formed last week. Expecting this to be a high quality trade to end the month. Longby BlackSheepFinancial113
EURUSD Expected Growth! BUY! My dear subscribers, My technical analysis for EURUSD is below: The price is coiling around a solid key level - 1.0833 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 1.0849 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK Longby AnabelSignalsUpdated 225
Still Has A Little JuiceAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice. I will continually update all trades.Longby THE_APIS_TRADER224
EURUSD Trade Idea - May 22, 2024The expectation for EURUSD - price continued its upward trajectory as evidenced by the continuation of HH and HL. Low trade volume at this time is causing the expected consolidation/weakening of the uptrend. Bearish orderflow has been noted at the 1.08827 region, just above a previous daily high created on April 9, 2024. The expectation is that the combination of the orderflow and previous will cause price to retrace. An important level being watched is the 1.08008 price region due to the folowing factors: 1) Golden Ratio Fib Level 2) Previous support/resistance level on the 4h TF. Increased trading volume during the London and New York session, combined with an overall positive outlook for the pair, should see the increase in price at least up to the 1.09660 level over the next 18 hours.Longby Platform_Solution113
E/u berish FVGe/u berish fvg on a 15m TF i aspect e/u to have a short time sell before continuing the up trend making 1 more swing to my flagShortby Thund3r_FXUpdated 224
Euro / U.S. Dollar_ Prices _ Next _ week_ Under _ Trading _Euro / U.S. Dollar_ Prices _ Next _ week_ Under _ Trading _ Venue _ OANDA. \ I don't do Patters, Indicator etc as they follow (me = Mathematics) so the market = Time, Date, History but I will do one so this provide a clear evidence of beauty of mathematics! This cover for the next 3 weeks prices: Distribution price : 1.09284 Retest after the distribution price: 1.07937 Then: next price : 1.10645 Retest : 1.08979 Then: $1.11609 Expecting a major drop from here! Longby Skill-Knowledge-Conduct222
DeGRAM | EURUSD correction in the channelEURUSD is moving in an ascending channel under the trend line. The price has reached the resistance level, during testing of which it formed a doji indicating uncertainty. The chart is moving from the upper boundary of the channel. We expect the correction to continue. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Shortby DeGRAMUpdated 448
EURUSD : Continue adjusting !The EUR/USD exchange rate declined on Wednesday after the latest Federal Reserve (Fed) meeting minutes revealed that the Federal Open Market Committee (FOMC) remains steadfast in waiting for more evidence that inflation will decrease to 2%. This has lowered risk appetite, as investors continue to hope for dovish signals from the US central bank. EUR/USD is currently falling below the 34 and 89 EMAs, sitting at 1.0834, and is trying to maintain the 1.0820 level. The pair has retreated after an unsuccessful attempt to sustain a rally at 1.0900. The daily candle is inching towards the 0.618-0.5 Fibonacci retracement levels, despite the ongoing short-term bullish movement.by Trader_BrianFXUpdated 114
EURUSD potential LONG from support zone As we can see, the market is currently forming a clear triangle pattern, which is a trend continuation pattern. Given the bullish rally we experienced beforehand, it makes sense to anticipate the market moving higher. On the daily timeframe, we see a long-tailed candle that took out liquidity at Thursday's lows. I think this could lead to a test of the support level, with the potential for an upward move if the price rejects the support. In this scenario, I expect a fake breakout candlestick pattern at the support level and upward trendline as buying confirmation. My goal is the resistance at 1.09230Longby ALPHA_CHART114