EURUSD Euro will not last longer especially when Germany is copying France. Months after months PMI confirms Europe is doomed... Wonder if the French PM will stay in power by September ? https://ihttps://www.zerohedge.com/political/european-disease-germany-enters-debt-spiral
As we look ahead, several important USD news events are scheduled that could impact the EURUSD market. Traders should pay attention to:
Federal Reserve Interest Rate Decision: Scheduled for next week, this decision could significantly influence the USD's strength against the EUR.
Non-Farm Payrolls (NFP): The upcoming NFP report is a major economic indicator that reflects the health of the U.S. labor market. A stronger-than-expected report could bolster the USD.
Consumer Price Index (CPI): The release of CPI data will provide insights into inflation trends, which are critical for monetary policy decisions.
These fundamental factors can create volatility in the EURUSD pair, and traders should be prepared for potential market movements based on the outcomes of these events.
Conclusion
In summary, the current analysis of the EURUSD market highlights key technical levels and indicators that traders should monitor closely. With the price currently at 1.17274 USD, the interplay between support and resistance levels, along with the insights provided by various technical indicators, will be crucial for making informed trading decisions. Additionally, keeping an eye on upcoming USD news will further enhance your trading strategy in this dynamic market.
In today's dynamic forex landscape, the EURUSD currency pair remains a focal point for traders and investors alike. As of the latest market update, the EURUSD is trading at 1.17274 USD. This analysis will provide an in-depth examination of the daily and 4-hour time frames, utilizing a variety of technical indicators including Fibonacci Retracement Levels, Exponential Moving Averages (EMA), RSI divergence, Smart Money Concepts (SMC), and more. We will also explore the critical support and resistance levels that traders should monitor closely.
Technical Analysis
Support & Resistance Levels
Daily Time Frame:
Support Levels:
1.16500: This level has shown strong support in previous trading sessions. 1.16000: A psychological level that often attracts buyer interest. 1.15569: The swing low, serving as a significant support barrier.
Resistance Levels:
1.18000: A notable resistance level where sellers have previously entered the market. 1.18299: The recent swing high, acting as a crucial resistance point. 1.18500: Another psychological barrier that may limit upward movement.
4-Hour Time Frame:
Support Levels:
1.17000: A critical support level that has held firm in the short term. 1.16750: This level has been tested multiple times, indicating its importance. 1.16500: Aligns with daily support, reinforcing its significance.
Resistance Levels:
1.17500: A resistance level that has been a point of contention for buyers and sellers. 1.17800: Close to the daily swing high, making it a key level to watch. 1.18000: Reiterates its importance across both time frames.
Fibonacci Retracement Levels
Utilizing Fibonacci Retracement Levels can provide insights into potential reversal points. Based on the swing high of 1.18299 and swing low of 1.15569, the key Fibonacci levels are as follows:
These levels can act as potential entry or exit points for traders, depending on market conditions.
Exponential Moving Averages (EMA)
Daily Time Frame EMAs:
EMA 50: 1.17124 EMA 100: 1.16900 EMA 200: 1.16750 EMA 400: 1.16500
4-Hour Time Frame EMAs:
EMA 50: 1.17200 EMA 100: 1.17000 EMA 200: 1.16700 EMA 400: 1.16550
The EMAs provide insight into the overall trend direction. Currently, the price is above the 50 EMA on both time frames, suggesting a bullish sentiment in the market.
RSI Divergence
The Relative Strength Index (RSI) is a vital tool for identifying potential reversals. Currently, the RSI on the daily chart is showing a slight divergence, indicating that while prices are moving higher, momentum is weakening. This could suggest a potential pullback or correction in the near term.
Order Blocks
Order blocks are areas where significant buying or selling has occurred. On the daily chart, there is a strong order block near the 1.16500 level, which aligns with previous support. Traders should monitor this area closely for potential buying opportunities.
MACD Analysis
The Moving Average Convergence Divergence (MACD) is currently showing bullish momentum, with the MACD line above the signal line. This indicates that the bullish trend may continue, although traders should remain cautious of potential pullbacks given the RSI divergence.
EURUSD The gap has been filled, and internally we are heading down to retracement levels.
If price starts retracing back up before it touches fair value within the internal leg, I'll wait for price to touch premium price levels before shorting this down to the discount zone of the macro range.
Else, I'll wait to long this market at discounted prices if it touches the macro range retracement levels below.
EURUSD Euro will not last longer especially when Germany is copying France. Months after months PMI confirms Europe is doomed... Wonder if the French PM will stay in power by September ? https://ihttps://www.zerohedge.com/political/european-disease-germany-enters-debt-spiral
