EUR/USD Daily chart – Analysis Made By REVOLVER™ and ISOTRIUMPH™ Indicators.
EUR/USD Rebounds in Quiet Markets, But Bearish Outlook Prevails
The EUR/USD pair experienced a modest recovery on Monday, with the price currently hovering around the 1.1068 mark as I write this article. This upward movement comes after the pair reversed within our designated Demand Area, highlighted by the red rectangle on our charts. However, this recovery is happening against the backdrop of limited market activity, as both the United States and Canada observe Labor Day, leading to a quiet trading session until the next Asian market opening.
The US holiday means that the macroeconomic calendar will be relatively barren in the coming hours. However, the calm will be short-lived as the US is set to release several employment-related reports later this week, culminating in the highly anticipated Nonfarm Payrolls (NFP) report on Friday.
Despite the slight recovery seen today, our outlook for the EUR/USD remains bearish. The US Dollar Index (DXY) is also regaining strength, signaling potential downward pressure on the Euro. From a technical perspective, the price has recently touched a Supply Area, which has been confirmed as a significant resistance zone. What is particularly telling is the behavior of different market participants: retail traders are increasingly taking long positions on the Euro, while smart money—larger institutional traders—are reducing their long exposure. This divergence between retail and institutional sentiment is often a strong indicator of an impending reversal.
Moreover, this shift in sentiment is notable as it marks the highest point in 2024 where retail traders have gone long on the Euro. Such a scenario typically signals a potential short opportunity, as history often shows that retail traders tend to be on the wrong side of the market during such divergences.
In summary, while the EUR/USD pair has shown some strength today due to the subdued trading environment brought on by Labor Day, the overall picture remains bearish. The combination of a strengthening DXY, confirmed technical resistance, and a significant divergence between retail and institutional traders suggests that a short position on the Euro may be the more prudent strategy moving forward.
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All services, including indicators and expert advisors, provided by us should be used solely as supplementary educational resources. We recommend utilizing them in simulated trading accounts, such as Demo, for educational purposes. Please note that by reading this, we do not endorse any specific trading decisions or actions.
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Expert Advisors carry a high level of risk and it is possible to lose all your capital.
Any financial figures mentioned on our site, its affiliates, or in our communications are estimates, projections, or historical results and should not be interpreted as precise, actual, or a guarantee of potential earnings – they are provided solely for illustrative purposes.
It is crucial to understand that past performance of any trading course, service, tool, or product does not assure its future performance in any capacity. Consequently, Forexn1.com cannot be held liable, either directly or indirectly, for any financial loss incurred, regardless of its extent. It is not uncommon for the average purchaser of a forex system to experience a lack of income. Our community does not guarantee income or success, and any examples provided in our presentations should not be interpreted as indicative of future success or earnings. Once again, past performance of an educational product or any service and tool within this website or related social media platforms does not guarantee future performance. Consequently, Forexn1.com cannot be held liable, either directly or indirectly, for any financial loss incurred, regardless of its magnitude. No representation or guarantee of any kind is made that you will or should achieve profits similar to the results demonstrated in any hypothetical or live trade, or product service and tools inside our website, as the purpose is auxiliary educational aids. You should not solely rely on the information contained on this site or on any of our social media channels. It is advisable to independently verify all information provided.
Past performance shown in any demonstrated trade, service, or tool is not indicative of future results. The past performance of any trading system or methodology is not necessarily indicative of future results. Moreover, stated results of any specific trade may be based on simulated or hypothetical performance results with certain inherent limitations. Since these trades have not been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity.
Simulated trading programs, including expert advisors, are also subject to the fact that they are designed with the benefit of hindsight. No representation is made that any account will or is likely to achieve profits or losses similar to those shown in any simulated trade.
All services, including indicators and expert advisors, and any tools we offer should be strictly utilized as auxiliary educational aids. We recommend using them in simulated trading accounts, such as Demo, for educational purposes. By reading this, we do not respond to any of your different choices.
All data provided within the website is intended solely for educational purposes, and any services or tools we offer should be strictly utilized as auxiliary educational aids.
In accordance with applicable law, FOREXN1 Website, its affiliates, officers, directors, managers, employees, or agents shall not be liable for any damages, including but not limited to direct, indirect, incidental, special, consequential, or punitive damages. This includes damages arising from the use of the Website, misuse of educational information presented on the website, any educational service, tool or service, any failure, error, omission, interruption, defect, delay, computer virus, loss of data, loss of use related to the Website or a linked site, or any loss relating to your own personal investment results.
– IMPORTANT RISK NOTICE –
Trading in foreign currency exchange, cryptocurrency, or commodities involves high volatility and significant risk, and may not be suitable for all individuals. The use of margin as leverage further amplifies this risk and can work against you. Prior to investing or trading in foreign currency, cryptocurrency, commodities, or any other market, it is essential to carefully assess your investment objectives, level of experience, and risk tolerance. It is highly probable that you may incur losses, potentially losing some or all of your initial capital. Therefore, only invest funds that you can afford to lose. The value of any trade or investment in the foreign currency exchange market, cryptocurrency, or commodities is subject to extreme volatility, which may result in substantial percentage losses or the complete loss of your invested capital.
The possibility exists that you could sustain a loss of some or all of your initial investment, and therefore, should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
All services, including indicators and expert advisors, provided by us should be used solely as supplementary educational resources. We recommend utilizing them in simulated trading accounts, such as Demo, for educational purposes. Please note that by reading this, we do not endorse any specific trading decisions or actions.
Read our full term and conditions here: https://forexn1.com/terms-conditions/