EUR/USD Technical Analyses - Forex (2024)

FAQs

EUR/USD Technical Analyses - Forex? ›

EURUSD Outlook: EURUSD – 3-Day Time Frame – Log Scale

EUR/USD Mid-Day Outlook

Current development suggest that rebound from 1.0601 has completed with three waves up to 1.0947. Deeper decline should be seen to 1.0665 support next. For now, risk will stay on the downside as long as 1.0869 resistance holds, in case of recovery.

Trading the EUR/USD currency pair is also known as trading the "euro." The value of the EUR/USD pair is quoted as 1 euro per x U.S. dollars. For example, if the pair is trading at 1.50, it means it takes 1.5 U.S. dollars to buy 1 euro.

The technical rating for the pair is buy today, but don't forget that markets can be very unstable, so don't stop here. According to our 1 week rating the EURUSD shows the buy signal, and 1 month rating is buy. See more of EURUSD technicals for a more comprehensive analysis.

The popular time to trade EUR/USD is when European and US trading sessions overlap. It often trades with the highest liquidity and volatility between 1pm and 4pm GMT. Economics, geopolitics and central banks all move EUR/USD.

The Euro US Dollar Exchange Rate - EUR/USD is expected to trade at 1.09 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.07 in 12 months time.

EUR/USD is holding lower ground near 1.0950 in European trading on Tuesday, reversing early gains. The pair is pressured by an extended US Dollar rebound even as markets calm down after Monday's bloodbath, fuelled by US slowdown fears and Mid-East tensions.

The two currencies represent two economic powerhouses, meaning trading EUR/USD is extremely popular with foreign exchange (forex) traders. The currency pair is one of the most traded fiat currencies in the world.

Buy Position: If you think the value of the base currency will increase compared to the quote currency, you'd take a Buy position. So, for EUR/USD, taking a Buy position means you believe the price of EUR will strengthen against USD (or USD will weaken against EUR).

What is the EUR USD strategy? ›

The EUR/USD 07h30 strategy focuses on a particular point in time, the beginning of the day when volume in the EUR/USD picks up and a new trend may be building. If a trend is detected a position is opened in the direction of the trend.

The most opportune time for trading EUR/USD in EST aligns with the overlapping sessions of major financial markets. The overlap between the London and New York sessions, from 8:00 AM to 12:00 PM EST, tends to be the most active period.

The bearish trend is currently very strong for EUR/USD. As long as the price remains below the resistance at 1.0875 USD, you… The short-term decline is currently reinforcing the basic trend, which is only slightly bearish.

If you have plans to go to Europe, it would be smart to take advantage of the strong pound – or weaker euro. Currency rates are very volatile so waiting for an even better time to buy euros is a risky game.

In five months the Pound-to-Euro exchange rate is forecast to trade at 1.1601 (Q4 2024), 1% lower compared to today's price. In eight months the expected rate is at 1.1491 (Q1 2025), 1.94% lower.

It's generally a good idea to exchange currencies before traveling to ensure that you have some money available when landing in a different country.