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EURUSD is trading at 1.09246 USD.
Intraday Trading Signals for EURUSD www.k9investmentstrading.com 🥇 Join our FREE Telegram Channel: @K9_Investments_GoldTrading
📈 Buy Signal
Entry Price: 1.09150
Stop Loss: 1.08800
Take Profit 1: 1.09500
Take Profit 2: 1.09750
📉 Sell Signal
Entry Price: 1.09300
Stop Loss: 1.09700
Take Profit 1: 1.09000
Take Profit 2: 1.08750
🔹 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital. Always use strict stop loss, manage risk, and trade at your own risk. Please read our full risk disclosure on www.k9investmentstrading.com.
Comprehensive EURUSD Market Analysis
Technical Indicators Overview
To provide an in-depth view of the EURUSD market today, let's break down the key indicators:
🔑 Support & Resistance Levels
On the daily and 4-hour timeframes, key support and resistance levels are essential for understanding potential price reversals:
Daily Support:1.08900, 1.08500
Daily Resistance:1.09750, 1.10000
4-Hour Support:1.09000, 1.08750
4-Hour Resistance:1.09500, 1.09900
These levels serve as vital points for intraday traders to identify entries and exits.
🔄 Fibonacci Retracement Levels
Analyzing from the most recent swing high (1.10000) to swing low (1.08800), key retracement levels include:
23.6% Retracement: 1.09200
50% Retracement: 1.09400
61.8% Retracement: 1.09650
Traders should look for price reactions around these levels to confirm potential reversals or continuation of trends.
📊 Exponential Moving Averages (EMA)
Tracking EMA levels on both daily and 4-hour timeframes can provide insights into short-term and long-term trends:
Daily EMAs:
EMA 50: 1.09100
EMA 100: 1.08900
EMA 200: 1.08600
EMA 400: 1.08100
4-Hour EMAs:
EMA 50: 1.09250
EMA 100: 1.09000
EMA 200: 1.08800
EMA 400: 1.08450
EMA crossovers could indicate potential shifts in momentum, especially when combined with other technical indicators.
📉 RSI Divergence
The RSI on the 4-hour chart currently shows a bullish divergence. While the price made lower lows, the RSI has been making higher lows, signaling potential upward momentum.
🔲 Order Blocks
Order blocks offer valuable insight into where institutions might be accumulating positions. A significant order block was detected around the 1.09100 zone, acting as a crucial support for potential bullish momentum.
📈 MACD Analysis
The MACD on the daily timeframe is hovering near the zero line, indicating a possible shift in trend. A bullish crossover could provide further confirmation for long entries.
Upcoming USD News & Fundamental Impact
📅 This week, two major economic events are expected to influence the EURUSD pair:
US CPI Data (16th Oct 2024):Inflation figures can impact USD strength, potentially pushing EURUSD lower if inflation is higher than expected.
US Retail Sales (18th Oct 2024):A strong retail sales report can further strengthen the dollar, potentially adding selling pressure to EURUSD.
Daily Analysis Summary www.k9investmentstrading.com 🥇 Join our FREE Telegram Channel: @K9_Investments_GoldTrading
Key Levels to Watch for EURUSD (14th Oct 2024):
Daily Support Levels: 1.08900, 1.08500
Daily Resistance Levels: 1.09750, 1.10000 EMA (Daily): 50 EMA – 1.09100, 100 EMA – 1.08900, 200 EMA – 1.08600, 400 EMA – 1.08100
EMA (4-Hour): 50 EMA – 1.09250, 100 EMA – 1.09000, 200 EMA – 1.08800, 400 EMA – 1.08450
Fibonacci Levels: 23.6% – 1.09200, 50% – 1.09400, 61.8% – 1.09650
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Most traders prefer using the 1-hour and 4-hour timeframes for precise entries and exits.
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6.What is the best technical indicator for intraday trading?
Fibonacci retracement levels, combined with EMAs and RSI, are powerful for intraday trading strategies.
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8.How does USD news affect EURUSD?
Positive US economic data often strengthens the USD, leading to a potential decrease in EURUSD prices.
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