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Sep 283 min read

EURUSD Weekly Market Analysis - Sep 28, 2024 by K9 Investments Trading

Updated: 4 days ago

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Current Market Price: 1.11592 USD


Intraday Signals(EURUSD)

  1. Buy Signal: Enter at 1.11650, target 1.12000, stop loss 1.11350.

  2. Sell Signal: Enter at 1.11400, target 1.11000, stop loss 1.11700.


Present EURUSD Market Analysis Using Fibonacci, EMA, RSI Divergence, and SMC Concepts

The EURUSD pair, currently trading at 1.11592 USD, shows potential volatility as we move into the end of the week. A thorough analysis using various technical indicators highlights possible intraday opportunities. New traders can benefit from a clear strategy by combining indicators such as Fibonacci retracement levels, exponential moving averages (EMAs), RSI divergence, and support and resistance levels.


Fibonacci Levels:

Based on the recent upward trend, key Fibonacci retracement levels are found at 1.11050 (38.2%) and 1.12030 (61.8%). These levels suggest that 1.11050 will act as critical support, while 1.12030 will be a resistance zone that traders should monitor.


Exponential Moving Averages (EMAs):

The 100, 200, and 400 EMAs are used for identifying long-term trends. Currently, the EURUSD is trading slightly below the 100 EMA at 1.11600, indicating a possible bearish bias in the short term. However, the 200 EMA stands at 1.11280, acting as strong support, while the 400 EMA sits at 1.10500, providing a solid floor for the pair in case of extended downside pressure.


RSI Divergence:

On the 4-hour chart, there’s a clear RSI bullish divergence forming, indicating that the selling pressure is weakening. If the RSI crosses above 50, it could signal a potential upward movement toward 1.12000. Traders should watch for this as confirmation for entering long positions.


Weekly Pivots:

The weekly pivot level for EURUSD is set at 1.11320, which aligns well with the current price action. If the pair holds above this level, a bullish move toward the next resistance at 1.12000 is likely. Breaking below it, however, may push prices toward the support at 1.11000.


Support and Resistance Levels (S&R):

  • Daily Support: 1.11300, 1.11050

  • Daily Resistance: 1.11800, 1.12030

  • 4-hour Support: 1.11400, 1.11000

  • 4-hour Resistance: 1.11850, 1.12000

New traders should note that strong support levels around 1.11300 could provide good buy entries, while resistance at 1.12000 could be ideal for setting sell targets. With proper risk management, these zones offer excellent intraday trade setups. Scalpers can look for quick bounces between these levels.


Smart Money Concepts (SMC): Smart money is seen accumulating positions around the support zones of 1.11300, and institutional players may target the 1.12000 area for profit-taking. SMC concepts indicate that any break below the support level could lead to a significant move lower, providing a favorable risk-reward ratio for sellers.


Key Levels Summary

Daily Time Frame:

  • Support: 1.11300, 1.11050

  • Resistance: 1.11800, 1.12030

  • Fib Levels: 1.11050 (38.2%), 1.12030 (61.8%)

  • Pivot Levels: 1.11320 (Weekly)


EMAs: 

  • 1.11600 (100 EMA)

  • 1.11280 (200 EMA),

  • 1.10500 (400 EMA)


4-Hour Time Frame:

  • Support: 1.11400, 1.11000

  • Resistance: 1.11850, 1.12000


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4. Why are technical indicators important in Forex trading? Indicators like Fibonacci, EMA, and RSI help traders analyze market trends, predict price movements, and identify potential entry and exit points, making them essential tools for consistent success in Forex trading.


5. What makes K9 Investments Trading’s signals stand out? Our signals combine advanced technical analysis, including support/resistance, pivots, and SMC concepts, ensuring high accuracy and profitability for traders.


EURUSD

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