the EUR/USD 7.30 hours trend strategy. (2024)

FAQs

The EUR/USD 7.30 hours trend strategy.? ›

The EUR/USD 07h30 strategy focuses on a particular point in time, the beginning of the day when volume in the EUR/USD picks up and a new trend may be building. If a trend is detected a position is opened in the direction of the trend.

The popular time to trade EUR/USD is when European and US trading sessions overlap. It often trades with the highest liquidity and volatility between 1pm and 4pm GMT. Economics, geopolitics and central banks all move EUR/USD.

The most opportune time for trading EUR/USD in EST aligns with the overlapping sessions of major financial markets. The overlap between the London and New York sessions, from 8:00 AM to 12:00 PM EST, tends to be the most active period.

EUR/USD Mid-Day Outlook

Intraday bias remains on the upside for 100% projection of 1.0665 to 1.0947 from 1.0776 at 1.1056 next. On the downside, below 1.0932 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

The technical forecast on the EUR/USD remains bullish ever since it broke above its bearish trend line that had been in place since last July. Consequently, we will be looking for dips back to any of the short-term support level such as 1.0950, 1.0900 and perhaps even 1.0835 to hold and provide a bounce.

As a trader, you need to decide whether the currency pair's price will increase or decrease. Based on that decision, you will either take a Sell position or a Buy position. Buy Position: If you think the value of the base currency will increase compared to the quote currency, you'd take a Buy position.

Market close/open.

It's a good idea to avoid these or be wary around these times. At market close a number of trading positions are being closed. This will lead to volatility in the currency markets which can then cause price to move erratically. The same applies at market open.

Scalping is a popular trading strategy among forex traders who aim to profit from small price movements. There are several popular scalping strategies for EUR/USD, including the moving average crossover strategy, the Bollinger Bands strategy, the support and resistance strategy, and the news trading strategy.

For example, for the EUR/USD pair, the European/U.S. session crossover will provide the most movement. There are usually alternatives to trading in this session, and a trader should balance the need for favorable market conditions with outlying factors, such as physical well-being.

Central bank announcements

Decisions made by the two central banks – the Federal Reserve (Fed) and European Central Bank (ECB) – on interest rates and their accompanying statements are important drivers of the EUR/USD exchange rate, with interest rates being one of the most important influencers.

Will EUR USD go up or down? ›

EUR/USD stays weak near 1.0950 as US Dollar recovers

EUR/USD is holding lower ground near 1.0950 in European trading on Tuesday, reversing early gains. The pair is pressured by an extended US Dollar rebound even as markets calm down after Monday's bloodbath, fuelled by US slowdown fears and Mid-East tensions.

If you have plans to go to Europe, it would be smart to take advantage of the strong pound – or weaker euro. Currency rates are very volatile so waiting for an even better time to buy euros is a risky game.

EURUSD: based on technical analysis, the euro will either start a downward correction to the support (B) 1.0696 - 1.0670 or continue to rise with the target at the Target Zone 3, 1.1121 - 1.1105.

Will Euro get stronger against US Dollar in 2024? Euro is expected to drop by -0.22% against the US Dollar by the end of 2024, as the USD/EUR rate is expected to reach € 0.922313.

The EUR/USD rate can increase because the euro is getting stronger or the U.S. dollar is getting weaker. Either condition results in an upward movement in the rate (price) and a corresponding upward movement in a price chart.

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EURUSD trading hours start at 8:00AM EST and end at 4:00PM EST each day, with a slight overlap between US and European market hours. The performance of the EURUSD currency pair is heavily affected by a number of different factors, including economic indicators and political developments.

Currency can fluctuate throughout the day too, with the morning or late afternoon cited as the best times to buy. These are just trends though and the currency markets fluctuate regularly, so keep your eye on them if you're looking to exchange currency soon.

London – New York Overlap. The London-New York overlap is often considered the most significant and active period in the forex market. Here' are somethings to consider: Timing: This overlap typically occurs between 8:00 AM to 12:00 PM (noon) Eastern Time (ET).

The highest Euro to US dollars rate was on March 14, 2024 when 1 Euro was worth 1.0954 US dollar.