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Writer's pictureK9 Investments

EURUSD Daily Market Analysis 10th Oct 2024 by K9 Investments Trading

Updated: Oct 14

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(Live Market Price: 1.09390 USD)


Intraday Trading Signals for EURUSD

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Based on current price action, here are two intraday setups for EURUSD using Fibonacci, daily support/resistance, and EMA indicators:

🟢 Buy Signal

  • Entry: 1.09250 USD

  • Stop Loss: 1.08900 USD

  • Take Profit 1: 1.09650 USD

  • Take Profit 2: 1.10000 USD


🔴 Sell Signal

  • Entry: 1.09600 USD

  • Stop Loss: 1.09900 USD

  • Take Profit 1: 1.09200 USD

  • Take Profit 2: 1.08850 USD

Disclaimer: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. Please read and ensure you fully understand our Risk Disclosure. Trade at your own risk. Use strict stop loss and proper risk management.


Detailed Market Analysis for EURUSD (Daily and 4-Hour Time Frames)

Key Support & Resistance Levels

  • Daily Support Levels:

    • 1.09000 USD

    • 1.08550 USD

    • 1.08200 USD

  • Daily Resistance Levels:

    • 1.09700 USD

    • 1.10050 USD

    • 1.10500 USD

  • 4-Hour Support Levels:

    • 1.09100 USD

    • 1.08850 USD

  • 4-Hour Resistance Levels:

    • 1.09550 USD

    • 1.09900 USD

Fibonacci Retracement Levels (Daily Time Frame)

Using the recent swing high of 1.10500 USD and swing low of 1.08500 USD:

  • 23.6%: 1.08970 USD

  • 38.2%: 1.09180 USD

  • 61.8%: 1.09700 USD

EMA Levels (Daily Time Frame)

  • 50 EMA: 1.09220 USD

  • 100 EMA: 1.08900 USD

  • 200 EMA: 1.08550 USD

  • 400 EMA: 1.08000 USD

EMA Levels (4-Hour Time Frame)

  • 50 EMA: 1.09300 USD

  • 100 EMA: 1.09050 USD

  • 200 EMA: 1.08750 USD

  • 400 EMA: 1.08300 USD

RSI Divergence (4-Hour Chart)

  • RSI shows a slight bearish divergence with price trending upward while RSI weakens, indicating potential downward pressure near resistance at 1.09600 USD.

Order Blocks

  • Bullish order block around 1.08900–1.09100 USD

  • Bearish order block around 1.09650–1.09800 USD

MACD Analysis

  • On the 4-hour chart, MACD shows bullish momentum, but the histogram is narrowing, suggesting a potential retracement from the 1.09600 USD level.

Weekly & Daily Pivots

  • Weekly Pivot: 1.09350 USD

    • Support 1: 1.09000 USD

    • Resistance 1: 1.09650 USD

  • Daily Pivot: 1.09380 USD

    • Support 1: 1.09100 USD

    • Resistance 1: 1.09700 USD

Fundamental Analysis & USD News

This week, the U.S. Consumer Price Index (CPI) data is due on Friday, a critical event that can impact EURUSD volatility. Traders should watch for any surprises in inflation numbers, as they may lead to a breakout above or below the key levels identified in today’s analysis.

Upcoming events to watch:

  • U.S. Federal Reserve Minutes (later this week)

  • Retail Sales Data (next week)

Daily Analysis Summary

EURUSD

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Key Levels to Watch:

  • Support: 1.09100 USD, 1.08550 USD

  • Resistance: 1.09650 USD, 1.10050 USD

  • EMA (Daily): 50 EMA (1.09220 USD), 100 EMA (1.08900 USD)

  • EMA (4-Hour): 50 EMA (1.09300 USD), 200 EMA (1.08750 USD)

FAQs

1. Why is K9 Investments the best signal provider? K9 Investments offers not only FREE signals but also educational resources, daily market analysis, and ebooks. Free Gold Forex Trading Ebooks.

2. Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend brokers like:

3. What are the best strategies for EURUSD intraday trading? Traders often use a combination of support/resistance levels, Fibonacci retracement, and EMA crossovers to find optimal entries.

4. How do I access free Forex trading education? Visit K9 Trading Education Articles to get started.

5. How can I start trading with K9 signals? Visit FREE Signals and sign up for access.

6. What are the risks of trading EURUSD? Forex trading involves risks, especially around major economic events like the U.S. CPI release. Always trade with proper risk management.

7. What is the best time frame for trading EURUSD? Many traders prefer using the 4-hour and daily time frames for strategic setups.

8. Are K9 Investments’ signals reliable? Yes, K9 Investments' signals are backed by comprehensive technical analysis and real-time market insights.

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