EUR/USD

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📈 EUR/USD 4-Hours Chart Analysis 📈

Technical Analysis:
Trend Patterns: The overall trend is downward as indicated by the price consistently staying below EMA 200 and EMA 50.

Support Levels: Around 1.0780 USD (recent lows).
Resistance Levels: Around 1.0860 USD (recent highs).

Momentum: The Squeeze Momentum Indicator shows a shift from red to green bars, indicating a potential change in momentum from bearish to bullish.

Fundamental Analysis:
US Dollar Strength: The US Dollar has been advancing due to caution ahead of first-tier releases and the upcoming US presidential election.

US Economic Data: Recent data includes an unexpected Goods Trade Balance deficit of $108.2 billion in September and a rise in the Consumer Confidence Index to 99.5 in October.

US Employment Data: Disappointing JOLTS Job Openings data has helped EUR/USD find support.

Trade Plan:
Entry Zone: Consider entering a long position if the price breaks above the resistance level of 1.0860 USD with strong momentum.
Stop-Loss (SL): 1.0780
Take Profit (TP): 1.0930

Disclaimer: This trade plan is for informational purposes only.