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EURUSD Daily Market Analysis 15th Oct 2024 by Kohinoor Free VIP Signals

Kohinoor Free VIP Trading Signals
Oct 15, 20243 min read

Updated: Oct 18, 2024

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Intraday Signals by Kohinoor Free VIP Signals

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1. Buy SignalEntry: 1.08850Stop Loss: 1.08500Take Profit 1: 1.09100Take Profit 2: 1.09350

2. Sell SignalEntry: 1.08920Stop Loss: 1.09200Take Profit 1: 1.08600Take Profit 2: 1.08400

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. Ensure you fully understand the risks and seek independent advice if necessary. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.

Market Analysis: EURUSD 15th Oct 2024

Technical Overview

EURUSD is currently trading at 1.08894 USD, exhibiting strong technical movements as the US Dollar shows strength due to ongoing global uncertainty.

Daily Timeframe Analysis

Fibonacci Retracement Levels: We see the 38.2% Fibonacci retracement level at 1.08750, acting as a crucial support. The 61.8% retracement at 1.09250 serves as a key resistance level, indicating potential reversal zones.

EMA Levels: On the daily timeframe, the EURUSD price hovers around the 200 EMA at 1.08900, signaling a strong resistance level. Meanwhile, the 50 EMA at 1.08450 provides support. A break above the 100 EMA at 1.09050 could trigger bullish momentum.

  • 50 EMA: 1.08450

  • 100 EMA: 1.09050

  • 200 EMA: 1.08900

  • 400 EMA: 1.08100

RSI Divergence: The RSI on the daily chart indicates bearish divergence, signaling a potential pullback if price breaks below 1.08750.

Order Blocks: A significant bearish order block is observed between 1.09150 and 1.09250, aligning with the Fibonacci and EMA resistance levels.

MACD: MACD on the daily chart is trending below the signal line, confirming downward momentum with the potential to retest the 1.08500 zone before any bullish breakout.

4-Hour Timeframe Analysis

Support and Resistance Levels: On the 4-hour timeframe, support at 1.08750 is holding strong, while resistance at 1.09150 forms a crucial level for the bulls.

  • 4hr Support: 1.08750

  • 4hr Resistance: 1.09150

EMA Levels: The EURUSD price is currently trading below the 50 EMA at 1.08820, indicating bearish pressure in the short term. Below is the breakdown of the EMAs on the 4-hour timeframe:

  • 50 EMA: 1.08820

  • 100 EMA: 1.09000

  • 200 EMA: 1.09180

  • 400 EMA: 1.08550

Weekly Pivots:

  • R1: 1.09150

  • R2: 1.09400

  • S1: 1.08500

Daily Pivots:

  • R1: 1.09050

  • R2: 1.09350

  • S1: 1.08700

Fibonacci Swing Levels:

  • Swing High: 1.09250

  • Swing Low: 1.08750

Fundamental Analysis

Upcoming USD News:Key USD-related events this week include the FOMC meeting minutes and US retail sales data. Both events are expected to impact the US Dollar's strength, adding volatility to the EURUSD pair. Traders should monitor these developments closely as they may lead to increased price fluctuations.

💡Daily Analysis Summary by Kohinoor Free VIP Signals https://www.freevipforexgoldsignals.com

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EURUSD

  • Daily Support: 1.08750

  • Daily Resistance: 1.09150

  • 4-Hour Support: 1.08750

  • 4-Hour Resistance: 1.09150

  • EMA Levels Daily: 50 EMA at 1.08450, 100 EMA at 1.09050, 200 EMA at 1.08900

  • EMA Levels 4hr: 50 EMA at 1.08820, 100 EMA at 1.09000, 200 EMA at 1.09180

  • Weekly Pivots: R1 at 1.09150, S1 at 1.08500

  • Fibonacci Levels: 38.2% at 1.08750, 61.8% at 1.09250

FAQs

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