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Intraday Signals for EURUSD - 18th October 2024
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🔹 Signal 1: EURUSD Buy
Entry: 1.08350
Stop Loss: 1.08100
Take Profit 1: 1.08650
Take Profit 2: 1.08900
🔹 Signal 2: EURUSD Sell
Entry: 1.08550
Stop Loss: 1.08800
Take Profit 1: 1.08300
Take Profit 2: 1.08100
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EURUSD Market Analysis – 18th October 2024
Current Price Overview:
As of writing, EURUSD is trading at 1.08418 USD. The market shows mixed volatility, and the upcoming USD news could play a major role in today’s movements. Let’s dive into a detailed technical analysis using the Daily and 4-hour timeframes to provide a comprehensive forecast.
Fibonacci Retracement Levels
On the daily chart, the key swing levels show potential retracements:
38.2% level: 1.08000
50% level: 1.07850
61.8% level: 1.07700
The price currently hovers around the 38.2% retracement level, showing potential bullish retracement after touching 1.08000 support.
Exponential Moving Averages (EMA)
Daily EMA Levels:
50 EMA: 1.08200
100 EMA: 1.08050
200 EMA: 1.07500
400 EMA: 1.07200
The daily EMAs reflect bullish consolidation as EURUSD stays above the 50 and 100 EMA. If the price holds above these levels, we may see upward momentum toward 1.08650.
4-Hour EMA Levels:
50 EMA: 1.08320
100 EMA: 1.08250
200 EMA: 1.07900
400 EMA: 1.07550
In the 4-hour chart, the 50 EMA provides a strong support base at 1.08320. If the price holds above this, bulls can target the 1.08900 zone.
RSI Divergence
The RSI is showing a bullish divergence on the 4-hour chart, indicating a potential move toward 1.08900. Traders should monitor RSI closely for overbought conditions, especially if it reaches the 70 level.
Support & Resistance Levels
Daily Support: 1.08000
Daily Resistance: 1.08850
4-hour Support: 1.08300
4-hour Resistance: 1.08600
Weekly & Daily Pivots
Weekly Pivot: 1.08450
R1: 1.08900
S1: 1.08000
Daily Pivot: 1.08400
R1: 1.08600
S1: 1.08200
Order Blocks
On the 4-hour timeframe, there’s a visible bullish order block between 1.08150 and 1.08300. Buyers have shown strong interest here, adding to potential upward momentum if EURUSD stays within this range.
MACD Indicator
The MACD on the daily chart shows a bullish crossover, with the signal line above the MACD line. This suggests the bulls are gaining strength, likely driving the price toward the 1.08650 mark in the coming sessions.
Fundamental Analysis and USD News Impact
This week, the market anticipates the US Initial Jobless Claims and Federal Reserve's monetary policy updates. If the data comes in stronger than expected, it could lead to a stronger USD, putting downward pressure on EURUSD. Conversely, weak data could send EURUSD higher toward the 1.08900 level. Stay updated on these events for potential shifts in market momentum.
EURUSD Daily Summary Analysis
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Key Levels:
Daily Support: 1.08000
Daily Resistance: 1.08850
4-hour Support: 1.08300
4-hour Resistance: 1.08600
Daily EMA Levels: 50 EMA – 1.08200, 100 EMA – 1.08050, 200 EMA – 1.07500, 400 EMA – 1.07200
4-hour EMA Levels: 50 EMA – 1.08320, 100 EMA – 1.08250, 200 EMA – 1.07900, 400 EMA – 1.07550
Fibonacci Levels: 38.2% – 1.08000, 50% – 1.07850, 61.8% – 1.07700
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3. What is the best time to trade EURUSD?
The most active times to trade EURUSD are during the overlapping hours of the London and New York sessions, which provide high liquidity.
4. How can I get free signals for forex and gold trading?
You can receive free signals by joining our FREE Telegram Channel @Kohinoorfreevipgoldforexsignals and visiting https://www.freevipforexgoldsignals.com.
5. What factors influence EURUSD price movements?
EURUSD is heavily influenced by economic reports, interest rate decisions, and political events in both the Eurozone and the US.
6. How do Fibonacci levels affect EURUSD trading?
Fibonacci retracement levels help traders identify potential support and resistance areas based on the percentage retracements from prior price swings.
7.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.
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8. How can I manage risk while trading EURUSD?
Always use stop-loss orders, ensure proper risk-reward ratios, and never trade with more than 1-2% of your account balance on a single trade.
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