EURUSD Trade Setup – 3rd October

EURUSD Trade Setup – 3rd October EUR/USD enters Friday with a constructive bias while dip demand continues to build above 1.1680 – 1.1700. The macro skew is for a softer USD into European/UK services PMIs this morning and U.S. ISM Services at 15:00 UK time, with ongoing uncertainty around the timing of broader U.S. data keeping dollar rallies vulnerable. On the euro side, stabilizing activity data and a steady ECB backdrop limit downside, while options flows clustered around 1.17 – 1.18 encourage mean-reversion on dips. Technically, the pair has carved higher swing lows since mid-September and remains supported on intraday moving averages, making 1.1700–1.1680 a clean, low-slippage entry zone. Strategy-wise, we prefer buying dips into that band, with an add on a sustained reclaim above 1.1750 to capture a momentum extension toward the mid-1.18s. EURUSD Trade Setup: Pair / Asset Bias & Entries Stop / Invalidation Targets Why A+ (fundamentals, technicals, sentiment/positioning) Near-term catalysts (UK time) EUR/USD LONG on dips 1.1700 – 1.1680; add on sustained reclaim >1.1750. Alternative: BUY breakout >1.1805 on strong EU/UK PMI tone. Stop 1.1620 (below week base). Invalidate if DXY squeezes on surprise US data release. 1.1800 – 1.1860; stretch 1.1950 next week if US data blackout persists. Fundamentals: USD pressured by shutdown and weak ADP; ECB steady while SNB supports EUR flows in Europe. Technicals: Higher swing lows since mid-Sep; holding above 50/100h MAs; clean dip-buy zone 1.1680 – 1.1700. Sentiment: Large expiries layered 1.1700 – 1.1790 this week likely pinning price; stops above 1.1800. 09:00: Eurozone final Services PMI 09:30: UK Services PMI 13:30: US NFP (likely delayed) 15:00: ISM Services 16:00: ECB speakers Conclusion We are maintaining a buy-the-dip stance while spot holds above 1.1680; our plan is long 1.1700 – 1.1680, add through 1.1750, with a protective stop at 1.1620. Take-profit in tiers at 1.1800 and 1.1860, with a stretch objective toward 1.1950 if U.S. data remain constrained and European activity holds up. We will de-risk / stand aside if a hawkish U.S. surprise (strong ISM or unexpected data release) drives a broad USD squeeze and daily closes push below 1.1680; full invalidation is a daily close beneath 1.1620. Into next week, continue to trail stops under rising swing lows and reassess topside ambition if option-related pinning around 1.1800 persists after the NY cut. For similar Forex Trade Signals please visit our forex trade ideas page. Please visit our Disclaimer page. Disclaimer Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. TerraBullMarkets.com does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets or any financial instrument involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TerraBullMarkets.com nor any of its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. TerraBullMarkets.com and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. TerraBullMarkets.com and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and TerraBullMarkets.com are not registered investment advisors and nothing in this article is intended to be investment advice. TerraBullMarkets...