EURUSD Daily Market Analysis Sep 26, 2024 by K9 Investments Trading

Updated: 4 days ago

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Intraday Signals:

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Buy EURUSD at 1.11450
- Target 1: 1.11800
- Target 2: 1.12100
- Stop Loss: 1.11000
Sell EURUSD at 1.11350
- Target 1: 1.11000
- Target 2: 1.10700
- Stop Loss: 1.11650

In-depth EURUSD Market Analysis:

The EURUSD pair is currently trading at 1.11412 USD, reflecting a neutral to slightly bullish sentiment in the market. Traders can utilize various indicators such as Fibonacci retracements, Exponential Moving Averages (EMA), Relative Strength Index (RSI), and Smart Money Concepts (SMC) to make informed decisions.

Fibonacci Retracement Analysis:

Based on recent market structure, the 61.8% Fibonacci retracement level aligns closely with 1.11050, which has acted as a key support zone in the past sessions. A strong price reaction from this level indicates that buyers are actively defending this zone. If the price manages to stay above this retracement, a potential bullish rally towards 1.11800 is expected, which corresponds to the 78.6% level.

EMA Levels and Trends:

The 100 EMA on the 4-hour chart is situated near 1.11200, providing immediate support. Meanwhile, the 200 EMA is hovering around 1.10800, marking a critical area for potential buyers if the price dips further. A break below these EMA levels could indicate a shift in momentum, possibly triggering a bearish wave towards 1.10500. The 400 EMA on the daily chart, found around 1.12200, serves as the next significant resistance, where sellers might step in to defend the zone.

RSI Divergence:

Currently, RSI on the 4-hour chart shows a hidden bullish divergence, signaling that momentum might shift in favor of the bulls. This suggests that a reversal from the current levels is highly likely, with a potential target of 1.11800 in the short term. A close monitoring of RSI is crucial for detecting any shifts in market sentiment.

Weekly Pivots and Smart Money Concepts:

The weekly pivot is positioned at 1.11200, aligning closely with the 100 EMA, reinforcing the support zone around this price. The first resistance based on weekly pivots is at 1.11850, offering a good target for short-term traders. On the other hand, smart money concepts indicate that institutional players may be accumulating positions between 1.11200 and 1.11000, expecting a bounce higher.

Support and Resistance Levels:

Strong support is observed at 1.11000, where the price has shown resilience. Key resistance levels are 1.11800 and 1.12200, with price action expected to test these zones in the near future. Traders should watch for price action confirmation before entering any trades at these levels.

Daily and 4-Hour Time Frame Key Levels

Support Levels:
- 1.11000 (Fibonacci 61.8%, Weekly Pivot)
- 1.10800 (200 EMA)
- 1.10500
Resistance Levels:
- 1.11800 (Fibonacci 78.6%, 4-Hour Resistance)
- 1.12200 (400 EMA)
- 1.12500
Fibonacci Levels:
- 61.8% Retracement: 1.11050
- 78.6% Retracement: 1.11800
EMA Levels (Daily & 4-hour):
- 100 EMA: 1.11200
- 200 EMA: 1.10800
- 400 EMA: 1.12200
Pivots:
- Daily Pivot: 1.11250
- Weekly Pivot: 1.11200

Summary of Key Levels:

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Support: 1.11000, 1.10800
Resistance: 1.11800, 1.12200
EMA Levels: 1.11200 (100 EMA), 1.10800 (200 EMA), 1.12200 (400 EMA)
Pivots: Daily: 1.11250, Weekly: 1.11200

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