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Current Market Price of EURUSD: 1.11619 USD
Intraday Signals(EURUSD):
Buy Signal: Buy EURUSD at 1.11700, Target 1.12200, Stop Loss 1.11400.
Sell Signal: Sell EURUSD at 1.11500, Target 1.11000, Stop Loss 1.11800.
Expert Analysis of EURUSD (Sep 27, 2024):
The EURUSD pair is currently trading around 1.11619 USD, showing some volatility as traders look for key price levels. This analysis focuses on using various technical indicators, such as Fibonacci retracements, Exponential Moving Averages (EMAs), RSI divergence, weekly pivots, and support-resistance levels, to provide a comprehensive outlook.
Fibonacci Levels and Market Movement:
Based on the latest high at 1.12250 and the recent low at 1.11000, the Fibonacci retracement levels indicate important resistance around the 38.2% level at 1.11850 and the 61.8% level at 1.12120. These levels are essential for traders to watch in the short term, as a break above 1.11850 could lead EURUSD toward 1.12200, making it a critical zone for a bullish continuation.
EMA Analysis (100/200/400 EMAs):
On the 4-hour chart, the EURUSD price is testing the 100 EMA at 1.11580, which is acting as short-term support. The 200 EMA sits at 1.11250, providing a crucial intermediate support level. Meanwhile, the 400 EMA at 1.12000 represents a strong resistance level, aligning closely with the Fibonacci 61.8% retracement, further highlighting the significance of this price range.
RSI Divergence and Momentum:
A slight bearish divergence is forming on the Relative Strength Index (RSI), indicating possible downward pressure in the upcoming sessions. The RSI is currently hovering near 55 on the daily chart, suggesting neutral momentum. If it drops below 50, we could expect a further downside move toward the 1.11000 support level.
Weekly Pivots and Smart Money Concepts (SMC):
This week’s pivot point for EURUSD is calculated at 1.11590, which coincides with the current market price, making it a vital area of confluence. If the price holds above this pivot, we could see a move toward R1 at 1.12050. Conversely, a break below the pivot could push EURUSD down toward the S1 support at 1.11150.
Smart Money Concepts (SMC) indicate liquidity resting below the 1.11500 zone, making it a crucial area for institutional players. If price action moves decisively below 1.11500, a sharp drop could occur, triggering significant sell-offs.
Support and Resistance Levels
Daily Support Levels: 1.11500, 1.11000
Daily Resistance Levels: 1.11850, 1.12200
4-Hour Support Levels: 1.11250 (200 EMA), 1.11500 (Pivot)
4-Hour Resistance Levels: 1.11850 (38.2% Fib), 1.12120 (61.8% Fib)
EMA Levels
100 EMA: 1.11580 (4-Hour)
200 EMA: 1.11250 (4-Hour)
400 EMA: 1.12000 (4-Hour)
Daily and Weekly Pivots
Daily Pivot: 1.11590
Weekly Pivot: 1.11500
Resistance (R1): 1.12050
Support (S1): 1.11150
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