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Intraday Signals for(EURUSD)
Buy Signal:
Entry: 1.11200
Take Profit: 1.11850
Stop Loss: 1.10900
Reasoning: The price is near the 61.8% Fibonacci retracement level, showing potential for bullish momentum. The RSI is showing bullish divergence on the 1-hour chart, and price is holding above the 100 EMA.
Sell Signal:
Entry: 1.11650
Take Profit: 1.11000
Stop Loss: 1.11900
Reasoning: Near the daily resistance level and overbought conditions according to RSI. EMA 200 on the 4-hour chart is acting as resistance, aligning with the weekly pivot.
Market Analysis Using Fibonacci, EMA, RSI, and SMC Concepts
The EURUSD pair is currently trading around 1.11402 USD, and we can see mixed sentiment in the market as traders await major economic data releases. Technical indicators such as Fibonacci retracement, Exponential Moving Averages (EMA), and RSI divergence provide key insights into the current market scenario.
Fibonacci Levels:
The EURUSD is currently hovering near the 61.8% Fibonacci retracement level (drawn from the recent low of 1.10450 to the high of 1.12200). This level often acts as strong support, indicating that the current downtrend might face a pause and potentially reverse. The Fibonacci 50% retracement at 1.11300 also aligns with a key support level, offering a potential buying opportunity if the price holds this zone.
EMA Levels:
Exponential Moving Averages provide crucial insights into trend direction and momentum. The EURUSD price is trading just above the 100 EMA on the 4-hour chart, suggesting short-term bullish strength. However, the 200 EMA is slightly above the current price at 1.11650, which is acting as resistance. If the price manages to break above this level, it could target the 400 EMA at 1.12150, confirming a bullish trend shift.
RSI Divergence:
The Relative Strength Index (RSI) on the 1-hour time frame is showing signs of bullish divergence, indicating that momentum is building for a potential reversal. The RSI was oversold when the price touched 1.11000, and since then, it has been rising, suggesting a possible upward correction.
Weekly Pivots and SMC Concepts:
The weekly pivot is situated at 1.11450, which coincides with the current market price. This level is critical as it could act as both support and resistance depending on how the price reacts. The Smart Money Concepts (SMC) indicate that institutional players may start accumulating long positions if the price consolidates above the weekly pivot. Traders should watch for price action around this level for further confirmation.
Support and Resistance
Support Levels:
Daily Support: 1.11300, 1.11000
4-hour Support: 1.10900
Resistance Levels:
Daily Resistance: 1.11850, 1.12200
4-hour Resistance: 1.11650
Key Levels
Fibonacci: 61.8% (1.11200), 50% (1.11300)
Daily Pivot: 1.11450
EMAs:
100 EMA: 1.11400
200 EMA: 1.11650
400 EMA: 1.12150
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