top of page

EURUSD Weekly Market Analysis 19th OCT 2024 by K9 Investments Trading

Writer's picture: K9 InvestmentsK9 Investments
Oct 19, 20244 min read

Updated: Oct 22, 2024

💬 WhatsApp K9 Investments Trading www.k9investmentstrading.com for FREE Gold Forex Live Trade Setups & Market Analysis.


live market price of EURUSD is 1.08674 USD.


✳️ EURUSD Intraday Signals

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading


🟢 Buy Signal:

  • Entry: 1.0850

  • Stop Loss: 1.0820

  • Take Profit 1: 1.0880

  • Take Profit 2: 1.0910

🔴 Sell Signal:

  • Entry: 1.0890

  • Stop Loss: 1.0920

  • Take Profit 1: 1.0850

  • Take Profit 2: 1.0830


📢 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. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.

Market Analysis Key Technical Levels for EURUSD

In this analysis, we dive deep into the EURUSD pair using daily and 4-hour timeframes. By leveraging Fibonacci Retracement Levels, Exponential Moving Averages (EMAs), RSI divergence, order blocks, MACD, and support/resistance levels, we can pinpoint actionable trade setups for the week.

Weekly and 4-Hour Time Frames

  1. Support and Resistance Levels

    • Weekly Support: 1.0800, 1.0750

    • Weekly Resistance: 1.0900, 1.0940

    • 4-Hour Support: 1.0830, 1.0810

    • 4-Hour Resistance: 1.0895, 1.0920

  2. Fibonacci Retracement Levels

    • 23.6%: 1.0870

    • 38.2%: 1.0855

    • 50%: 1.0830

    • 61.8%: 1.0810

    • 78.6%: 1.0790

  3. Exponential Moving Averages (EMAs)Weekly Time Frame:

    • 50 EMA: 1.0830

    • 100 EMA: 1.0800

    • 200 EMA: 1.0750

    • 400 EMA: 1.0700

    4-Hour Time Frame:

    • 50 EMA: 1.0875

    • 100 EMA: 1.0850

    • 200 EMA: 1.0820

    • 400 EMA: 1.0780

RSI Divergence

The RSI shows a clear bearish divergence on the 4-hour timeframe, signaling potential downward pressure near the 1.0890 resistance level. Traders should keep an eye on price rejection at these levels.

MACD

The MACD on the daily chart indicates a potential bullish crossover, suggesting short-term bullish momentum.

Fundamental Analysis and USD News Impact

📈 Key USD Events This Week:

  • FOMC Meeting Minutes (scheduled for 20th October): The release of these minutes could cause significant volatility in the USD pairs, including EURUSD. Hawkish comments may push EURUSD down, while dovish comments could provide bullish support.

  • Initial Jobless Claims (18th October): This report will further impact market sentiment for EURUSD. If claims come in lower than expected, it may indicate economic strength, which could lead to a stronger USD.

EURUSD Weekly Analysis Summary by K9 Investments Trading

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading


EURUSD

Key Levels Summary:

  • Support Levels:Weekly: 1.0800, 1.07504-Hour: 1.0830, 1.0810

  • Resistance Levels:Weekly: 1.0900, 1.09404-Hour: 1.0895, 1.0920

  • Fibonacci Retracement Levels:23.6%: 1.0870, 38.2%: 1.0855, 50%: 1.0830, 61.8%: 1.0810, 78.6%: 1.0790

  • EMAs (Weekly): 50 EMA: 1.0830, 100 EMA: 1.0800, 200 EMA: 1.0750, 400 EMA: 1.0700EMAs (4-Hour): 50 EMA: 1.0875, 100 EMA: 1.0850, 200 EMA: 1.0820, 400 EMA: 1.0780

  • Weekly Pivots:Resistance 1: 1.0910, Resistance 2: 1.0935, Resistance 3: 1.0970Support 1: 1.0840, Support 2: 1.0805, Support 3: 1.0770

  • Weekly Pivots:Resistance: 1: 1.0890, Resistance 2: 1.0920, Resistance 3: 1.0950Support 1: 1.0845, Support 2: 1.0820, Support 3: 1.0790

FAQs

1. Why is K9 Investments the best signal provider?

K9 Investments offers FREE signals, educational resources,Weekly market analysis, and ebooks for traders at every level.


2.Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend:

3.How Can I Start My Forex, Gold, or Crypto Trading Journey?

Starting your trading journey with K9 Investments is simple. Open an account with one of the recommended brokers, such as Vantage, Exness, or XM, and join our FREE Telegram Channel for daily signals and market analysis. You'll receive educational support, trade setups, and risk management tips to help you succeed.

Check out our Brokers for starting your trading journey:


 4.How can I start trading EURUSD with minimal risk? To start trading EURUSD with minimal risk, it's essential to use proper risk management strategies such as setting a strict stop loss, risking no more than 1-2% of your capital per trade, and taking partial profits when appropriate. Beginners should also practice trading with a demo account to understand market behavior before going live.

5.What makes EURUSD one of the best forex pairs to trade? EURUSD is the most traded forex pair due to its high liquidity, tight spreads, and its representation of two major global economies (Eurozone and the US). These factors make it highly predictable, with lower volatility compared to other forex pairs, making it ideal for both beginners and professional traders.

6.How can I use Fibonacci retracement in my EURUSD trading strategy? Fibonacci retracement helps identify potential entry points by marking key retracement levels like 38.2%, 50%, and 61.8% from a recent price move. When the EURUSD price retraces to these levels, it often presents a buying or selling opportunity, depending on whether the trend is bullish or bearish.


Hashtags:



8 views0 comments

Comments

bottom of page