EURUSD_118 2024.11.07 09:29:03 Trading Signal SELL
FrankPro Signal for EURUSD_118
Type: Screen
Signal: SELL
TP: 1.07203
SL: 1.07679
Entry Price: 1.07611
Analysis for EURUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, here are my conclusions for the EUR/USD pair:
**Short-term (next few days):**
* The price is expected to go down, with a potential test of the support area near 1.0685.
* A break below 1.0704 could signal further declines to 1.0660 and 1.0645.
* However, there is a possibility of a corrective advance, with a potential rebound from the lower border of the bearish channel and a rebound from the bullish trend line on the RSI.
* The upside is capped by the 50-day Exponential Moving Average (EMA) at 1.0830, adding to the selling pressure.
**Long-term (next few weeks/months):**
* The overall trend is bearish, with the pair trading below a flat 100 Simple Moving Average (SMA) and a firmly bearish 20 SMA.
* The ECB's cautious stance on monetary policy and weak German data suggest limited near-term support for the euro.
* However, the analysis mentions a potential growth towards the area above 1.0925 following a rebound from the support area near 1.0685.
* The impact of economic data and ECB policy on the pair's long-term trend is uncertain and will depend on future developments.
In summary, the short-term outlook is bearish, with a potential test of the support area near 1.0685, while the long-term trend is also bearish, but with a possibility of a rebound and growth towards the area above 1.0925.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my predictions for the EUR/USD pair:
**Short-term (next few days/week):**
The price is expected to **go down**. The technical outlook suggests further losses, with potential to revisit the June low of 1.0666 and possibly the 2024 low at 1.0600. The pair has broken below all its moving averages, and technical indicators are firmly bearish despite being in oversold territory.
**Long-term (next quarter/12 months):**
The price is expected to **stay the same** or **go up slightly**. Long-term forecasts indicate the EUR/USD could trade at 1.08 by the end of the quarter and around 1.06 in 12 months, according to Trading Economics' global macro models. This suggests that the current downward trend may be reversed in the long term, with the pair potentially rebounding from its current lows.
Please note that these predictions are based on the analysis provided and are subject to change as new data and events become available.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
**Short-term Analysis (Next 24-48 hours)**
Based on the current market conditions and forecasts, I expect the EUR/USD price to **go down** in the short term. The bearish momentum, as indicated by the technical analysis, suggests that the pair may continue to decline, potentially testing support levels around 1.0665 and 1.0645. The strong US dollar sentiment, weak Eurozone economic data, and the upcoming Federal Reserve's decision on interest rates (expected to include a 0.25% rate cut) may further contribute to the downward pressure on the euro.
**Long-term Analysis (Next week and beyond)**
In the long term, the outlook for the EUR/USD pair is more uncertain. While the current bearish momentum may persist in the near term, there are potential upside risks that could lead to a rebound. If the pair holds above key support levels, some forecasts suggest a potential upward movement above 1.0925. Additionally, the impact of the US presidential election and the subsequent policy decisions may lead to a shift in market sentiment, potentially benefiting the euro. Therefore, in the long term, I expect the EUR/USD price to **stay the same** or potentially **go up**, depending on the outcome of the upcoming events and the overall market sentiment.
Please note that these analyses are based on the available data and forecasts, and the actual market movements may differ.
Result: [Method2] ST=Down LT=Up
Type: Screen
Signal: SELL
TP: 1.07203
SL: 1.07679
Entry Price: 1.07611
Analysis for EURUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, here are my conclusions for the EUR/USD pair:
**Short-term (next few days):**
* The price is expected to go down, with a potential test of the support area near 1.0685.
* A break below 1.0704 could signal further declines to 1.0660 and 1.0645.
* However, there is a possibility of a corrective advance, with a potential rebound from the lower border of the bearish channel and a rebound from the bullish trend line on the RSI.
* The upside is capped by the 50-day Exponential Moving Average (EMA) at 1.0830, adding to the selling pressure.
**Long-term (next few weeks/months):**
* The overall trend is bearish, with the pair trading below a flat 100 Simple Moving Average (SMA) and a firmly bearish 20 SMA.
* The ECB's cautious stance on monetary policy and weak German data suggest limited near-term support for the euro.
* However, the analysis mentions a potential growth towards the area above 1.0925 following a rebound from the support area near 1.0685.
* The impact of economic data and ECB policy on the pair's long-term trend is uncertain and will depend on future developments.
In summary, the short-term outlook is bearish, with a potential test of the support area near 1.0685, while the long-term trend is also bearish, but with a possibility of a rebound and growth towards the area above 1.0925.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my predictions for the EUR/USD pair:
**Short-term (next few days/week):**
The price is expected to **go down**. The technical outlook suggests further losses, with potential to revisit the June low of 1.0666 and possibly the 2024 low at 1.0600. The pair has broken below all its moving averages, and technical indicators are firmly bearish despite being in oversold territory.
**Long-term (next quarter/12 months):**
The price is expected to **stay the same** or **go up slightly**. Long-term forecasts indicate the EUR/USD could trade at 1.08 by the end of the quarter and around 1.06 in 12 months, according to Trading Economics' global macro models. This suggests that the current downward trend may be reversed in the long term, with the pair potentially rebounding from its current lows.
Please note that these predictions are based on the analysis provided and are subject to change as new data and events become available.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
**Short-term Analysis (Next 24-48 hours)**
Based on the current market conditions and forecasts, I expect the EUR/USD price to **go down** in the short term. The bearish momentum, as indicated by the technical analysis, suggests that the pair may continue to decline, potentially testing support levels around 1.0665 and 1.0645. The strong US dollar sentiment, weak Eurozone economic data, and the upcoming Federal Reserve's decision on interest rates (expected to include a 0.25% rate cut) may further contribute to the downward pressure on the euro.
**Long-term Analysis (Next week and beyond)**
In the long term, the outlook for the EUR/USD pair is more uncertain. While the current bearish momentum may persist in the near term, there are potential upside risks that could lead to a rebound. If the pair holds above key support levels, some forecasts suggest a potential upward movement above 1.0925. Additionally, the impact of the US presidential election and the subsequent policy decisions may lead to a shift in market sentiment, potentially benefiting the euro. Therefore, in the long term, I expect the EUR/USD price to **stay the same** or potentially **go up**, depending on the outcome of the upcoming events and the overall market sentiment.
Please note that these analyses are based on the available data and forecasts, and the actual market movements may differ.
Result: [Method2] ST=Down LT=Up
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