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EURUSD Weekly Market Analysis 7th - 12th Oct 2024 by K9 Investments Trading

Writer: K9 InvestmentsK9 Investments
Oct 5, 20243 min read

Updated: Oct 9, 2024

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Intraday Trading Signals for EURUSD

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Based on the current EURUSD live price of 1.09757 USD, below are two high-accuracy intraday trading signals designed for your success.

🔹 Buy Signal

  • Trade Entry: 1.09800

  • Stop Loss: 1.09550

  • Take Profit 1: 1.10100

  • Take Profit 2: 1.10450

🔹 Sell Signal

  • Trade Entry: 1.09500

  • Stop Loss: 1.09850

  • Take Profit 1: 1.09200

  • Take Profit 2: 1.08950

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. This is not financial advice. Use strict stop losses and proper risk management.

EURUSD Weekly Market Analysis: Key Technical Indicators

Support & Resistance Levels

  • Weekly Support: 1.09500, 1.09200

  • Weekly Resistance: 1.10100, 1.10500

On the 4-hour timeframe, EURUSD is consolidating within a range. Traders should focus on these support and resistance levels for short-term setups.


Fibonacci Retracement Levels (Weekly)

Using the latest swing from 1.08950 (low) to 1.10450 (high), we observe:

  • 38.2%: 1.09800

  • 50%: 1.09675

  • 61.8%: 1.09550


These levels serve as potential reversal zones, aligning with the aforementioned buy and sell signals.

Exponential Moving Averages (EMA)

  • Weekly EMA (50): 1.09700

  • Weekly EMA (100): 1.09250

  • Weekly EMA (200): 1.08800

  • Weekly EMA (400): 1.08100

  • 4-hour EMA (50): 1.09650

  • 4-hour EMA (100): 1.09400

  • 4-hour EMA (200): 1.08950

  • 4-hour EMA (400): 1.08500

These EMA levels act as dynamic support and resistance points, influencing price action.


RSI Divergence & MACD Analysis

  • RSI: Divergence is forming around the 1.09800 level on the 4-hour chart, indicating a potential trend reversal.


  • MACD: The MACD signal line has crossed below zero on the 4-hour chart, signaling bearish momentum.


Smart Money Concepts (SMC) & Order Blocks

Key Order Blocks identified:

  • Bullish Order Block: 1.09250 – 1.09400

  • Bearish Order Block: 1.10050 – 1.10200

These order blocks provide strong zones for potential trade entries and exits.

Weekly & Weekly Pivots

  • Weekly Pivot: 1.09680

  • Weekly Pivot: 1.09710

  • Resistance 1: 1.10100

  • Support 1: 1.09450

Fundamental Analysis & USD News Impact

📅 This week, keep an eye on Non-Farm Payroll (NFP) data scheduled for release on Friday, Oct 6th, 2024. Volatility is expected around EURUSD as the market anticipates this key USD news event.

  • Forecast: Higher employment numbers could strengthen the USD, pushing EURUSD lower.

  • Market Reaction: Look for potential breakouts at the Weekly support and resistance levels after the news release.

💡 Weekly Analysis Summary by K9 Investments Trading

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  • Weekly Support: 1.09500, 1.09200

  • Weekly Resistance: 1.10100, 1.10500


  • EMA Levels:

    • Weekly (50/100/200/400): 1.09700, 1.09250, 1.08800, 1.08100

    • 4-hour (50/100/200/400): 1.09650, 1.09400, 1.08950, 1.08500

  • Fibonacci Levels: 38.2% (1.09800), 50% (1.09675), 61.8% (1.09550)

  • Order Blocks: 1.09250 – 1.09400 (bullish), 1.10050 – 1.10200 (bearish)


FAQs

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4. How does K9 Investments ensure signal accuracy? Our signals are based on advanced technical analysis using indicators such as EMAs, Fibonacci, and RSI.

5. What markets does K9 Investments provide signals for? We specialize in Forex, Gold (XAUUSD), and Cryptocurrency signals.

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