EURUSD Bulls Halt Losses at 1.2013, Struggles To Retake Control Amid Europe Recovery Concerns

EURUSD Bulls Halt Losses at 1.2013, Struggles To Retake Control Amid Europe Recovery Concerns

EURUSD Price Analysis – May 3

Euro remains on the defensive after dips were contained above the 1.2000 level early during Monday European session. The EURUSD holds low at 1.2013 as buyers struggle to retake control of the trend. Concerns about Europe’s recovery, as well as hawkish Fed remarks, may hold the pair under pressure.

Key Levels
Resistance Levels: 1.2190, 1.2150, 1.2100
Support Levels: 1.2000, 1.1950, 1.1900
EURUSD Long term Trend: Ranging
On a daily time frame, the EURUSD looks fragile, and a consolidation beneath 1.2000 could set the stage for more losses. Deviation from levels above 1.2100, which marks the upper limit of a broad range, can pick up speed. The 1.2000 level could be approached if the daily close is below the moving averages of 13.

Following the drop, the EURUSD may encounter relative resistance in the 1.2075 moving average 5 price range, where it had made intraday highs on April 20 before a pullback. If the pair continues to rise above the listed resistance area, it could attempt to flip the April 29 resistance into support and reach year-over-year highs of 1.2243 to 1.2350.
EURUSD Short term Trend: Ranging
Further to the withdrawal from the 1.2150 and 1.2100 regions, EURUSD’s corrective downside could extend to new lows beneath the 1.2000 regions until reaching the 1.1870 level’s contention field. The EURUSD intraday bias remains in a range as the earlier rebound from the 1.1702 level continues even though weak.

On the plus hand, a break of the 1.2100 level could confirm that the consolidation from the 1.1702 level may continue from 1.2050. A further rise is expected to retest the 1.2150 high level. Meanwhile, a break of the 1.2000 support level might move the bias to the downside, extending the range and triggering a new declining period.

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After Prior Week’s Strong Run-Up, EURUSD Floats Around a Two-Month High at 1.2116

After Prior Week’s Strong Run-Up, EURUSD Floats Around a Two-Month High at 1.2116

EURUSD Price Analysis – April 26

As the third week of gains progresses, and Friday’s close above the daily cloud top adds to the optimistic sentiment, the pair retains a strong buying tone floating around a two-month high at 1.2116 at the time of writing. Another positive trend is the loosening of sanctions in Italy and France on Monday.

Key Levels
Resistance Levels: 1.2243, 1.2190, 1.2150
Support Levels: 1.2050, 1.1989, 1.1952
EURUSD Long term Trend: Ranging
The EURUSD has driven up for the 2nd day in a row, reaching a two-month high of 1.2116 at the time of writing, with an eye on the 1.2150 marks. In the meantime, the EURUSD’s advance is slowing as it approaches resistance at 1.2150. On the chart, we can still see the next key resistance of Feb. 26 waiting to be tested which may indicate further room for an upside run.

In the event of an abrupt pullback, the price is likely to stall near moving average 5 and the 1.2050 level of support for the time being. A close below this mark, however, could bring the March 31 lows of 1.1704 into play in the long run. If the current bullish trend persists, the EURUSD may need to break out above the 1.2190 level to confirm further gains.
EURUSD Short term Trend: Bullish
The EURUSD is trading forward moderately bullish on the 4-hour chart, with the 5 moving average ahead of the moving average 13 upwards. Beyond its middle points, the RSI stays focused to the north. A current bullish trend could target a 61.8 percent projection from 1.0635 to 1.2150 levels from 1.1602 to 1.2190 levels shortly.

On the 4-hour chart, the price recovery from the 1.1952 low shows the direction of least resistance to the upside. So far, a decisive break over the 1.2200 marks appears to be in the subsequent sessions. The currency pair is currently trading around the 1.2100 marks, having reached a peak of 1.2116 in the Asian session.

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EUR/USD Attracts More Buyers!

EUR/USD Attracts More Buyers!

EUR/USD moves sideways in the short term trying to accumulate more buying energy before jumping towards new highs. The pair rallies as the US Dollar Index plunged in the last hours.

EUR is strongly bullish again as the Euro-zone Flash Services PMI and Flash Manufacturing PMI have come in better than expected earlier. The services sector is back in the expansion territory after a long time which is good for the European currency.

EUR/USD H4 Chart Analysis!

EUR/USD has decreased a little to test and retest the ascending pitchfork’s upper median line (uml). Now is almost to reach the weekly R2 (1.2072) static resistance. Jumping and stabilizing above it, registering a new higher high could activate further growth.

It’s trapped between 1.2079 and 1.1999 levels. This range is seen as a continuation pattern, an upside breakout could bring a new long opportunity.

Conclusion!

An upside breakout and a new higher high could signal that EUR/USD could resume its swing higher.

 

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Amid US Yields Decline, the EURUSD Heads Toward 1.2050 Level

Amid US Yields Decline, the EURUSD Heads Toward 1.2050 Level

EURUSD Price Analysis – April 19

The early analysis points to a growing chance that EURUSD bursts above 1.2050 level in the new week. After the pair surged through the psychological 1.20 barrier and hit the highest since Mar 4 on Monday. Today’s action is underpinned by dropping bond yields, making the greenback less attractive. Returns on ten-year Treasuries are below 1.56% at the time of writing.

Key Levels
Resistance Levels: 1.2243, 1.2190, 1.2100
Support Levels: 1.942, 1.1870, 1.1740
EURUSD Long term Trend: Ranging
Over the crucial 1.20 mark, the next levels to watch are 1.2050, 1.2065, and 1.2115 levels, which are all in March and February. The daily low of 1.1942 provides support, followed by 1.1927 and 1.1870 levels, which have accompanied the pair during its recent climb. Meanwhile, the EURUSD advance is easing on approach resistance at 1.2050 level.

In the event of an abrupt pullback, the price is likely to stall near the 1.1989 immediate level of support for the time being. A close below this mark, however, could bring the April 13 lows of 1.1876 into play. If the current bullish trend persists, the EURUSD can lead to break out above the 1.2100 level to confirm further gains.
EURUSD Short term Trend: Ranging
The 4-hour chart reveals that EURUSD is trading ahead of the moderately bullish 5 moving average which is ahead of the moving average 13 upwards. The RSI has turned north towards the overbought region. A current bullish trend could target a 61.8 percent projection from 1.1704 to 1.2011 levels from 1.1602 to 1.2100 levels in the subsequent sessions.

On the 4-hour chart, the price recovery from the 1.1704 low shows the direction of least resistance to the upside. So far, a decisive break over the 1.2050 marks appears to be in the cards for this session. The currency pair is currently trading around the 1.2034 marks, having reached a peak of 1.2047 in the London session.

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EURUSD Upside Run Recedes Under 1.1900 Level, Dollar Begins the Week on a Strong Note

EURUSD Upside Run Recedes Under 1.1900 Level, Dollar Begins the Week on a Strong Note

EURUSD Price Analysis – April 12

From early session tops around the 1.1904 mark, the EURUSD has receded to approach mid 1.1800 level during Monday morning trading. The dollar started the week on a stronger note as Fed’s bullish remarks lent some support to the greenback.

Key Levels
Resistance Levels: 1.2190, 1.2050, 1.1952
Support Levels: 1.1800, 1.1693, 1.1422
EURUSD Long term Trend: Ranging
The EURUSD is attempting to lower its price below the MA 5 at 1.1875, but it is running into horizontal support at $1.1870, and on break may lead to a bearish decline to the 1.1800 marks. A bounce from this zone, on the other hand, could lead to a retest of the 1.1900 level. A bullish breakout above the resistance level of 1.1952 could signal a sudden return to the upside.

The rise from the 1.0635 level is seen as the third step of the pattern from the 1.0339 (low) level in the wider sense. Following a sustained rally, cluster resistance at 1.2050 could be seen. As long as the 1.1422 resistance level, which has now turned support, holds, this will be the preferred scenario.
EURUSD Short term Trend: Ranging
For the day’s start, the EURUSD struggles to alter the intraday bias from neutral, but with minor support at 1.1870 intact, a further rise is likely. Above 1.1952 level, the recovery from 1.1740 to 1.1927 minor resistance may continue. Resistance is at its April peak of 1.1927, with 1.1952 and 1.1989 levels seen in March.

There may be a strong break there, indicating that the correction from the 1.2243 level has been completed at the 1.1740 level. A break of 1.1870 near-term support, on the other hand, would shift the bias back to the downside, with the 38.2 percent retracement of 1.0635 to 1.2243 at 1.1693 levels.

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EUR/USD Sell-Off Favored!

EUR/USD Sell-Off Favored!

EUR/USD is traded near a strong resistance area, so a sell-off could appear soon. The price action has a printed bearish engulfing which is seen as a reversal pattern.

As you already know, the USD was into a corrective phase versus its rivals as the USDX retreated a little. Though, the US Dollar Index maintains a bullish outlook. USDX’s increase could force EUR/USD to drop again.

EUR/USD H1 Technical Analysis

EUR/USD registered a false breakout with great separation above 38.2% and a bearish engulfing on the weekly R3 (1.1891). All these have signaled that the bulls are exhausted and that the bears could take control.

It has found resistance at the upper median line (uml) and now is traded below the median line (ml). Dropping and stabilizing below the immediate lows could validate a new sell-off.

Conclusion!

EUR/USD found strong resistance at the weekly R3 (1.1891) showing exhaustion. It has printed also a minor Head and Shoulders pattern. A new lower low could bring a bearish momentum.

 

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EURUSD Upside Run Dwindles Further Beneath Mid 1.1700 Level Amid Resurgent Dollar Strength

EURUSD Upside Run Dwindles Further Beneath Mid 1.1700 Level Amid Resurgent Dollar Strength

EURUSD Price Analysis – April 5

Early in the European session, the EURUSD pair surrenders its uptick beneath the mid 1.1700 level. The pair extended its decline in attempting to plunge the 1.1700 floors. Investors focused on quicker economic growth after the US employment report released Friday overtook forecasts, keeping the market upbeat.

Key Levels
Resistance Levels: 1.2050, 1.1952, 1.1835
Support Levels: 1.1704, 1.1602, 1.1422
EURUSD Long term Trend: Ranging
Any subsequent fall is likely to find decent support and attract buyers near the 1.1704 horizontal support and the ascending trendline, according to the daily chart’s technical pattern. Following sell-offs could speed up the corrective slide towards 1.1602, but it’s more likely to be capped around the 1.1700s.

A sustained break below, on the other hand, will be interpreted as early signs of bullish fatigue, leaving the pair exposed to further falls, potentially challenging the psychological 1.1602 levels. Near the 1.1800 marks, we’re keeping a close eye on the stop signs. A sustained breakout, on the other hand, may have long-term bullish implications.
EURUSD Short term Trend: Bearish
Meanwhile, the intraday bias in EURUSD stays on the downside for the moment. The breach of ascending trendline support may validate the start of the third phase, with a temporary low firmed at 1.1703, just ahead of 38.2% retracement of 1.0635 to 1.2348 at 1.1694. On the upside, above 1.1835 minor resistance level may alter intraday bias neutral first.

On the other hand, European session highs around 1.1771 now seem to act as immediate resistance. It is followed by last week’s swing high, around 1.1807 areas, which, if cleared decisively, may set the stage for further short-term appreciation. The pair may then breach beyond 1.1835 and aim to test the next major obstacle near the 1.1989 congestion zone.

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EUR/USD Throwback, NFP In Spotlights!

EUR/USD Throwback, NFP In Spotlights!

EUR/USD found strong support right above 1.17 psychological level and now it has turned to the upside. Technically, a temporary rebound could be natural after the most recent massive drop.

Still, you should be careful as the US NFP, Unemployment Rate, and the Average Hourly Earnings could bring high volatility later today. EUR/USD rallies in the short term as the USDX slips lower.

EUR/USD H4 Technical Analysis!

EUR/USD jumped above a minor downtrend line and now it has stabilized above 23.6% retracement level. Today’s high is seen at 1.1786 level, so a new higher high, jump above it may signal more gains during the day.

The immediate upside obstacle is seen at the R1 (1.1799). EUR/USD could target the 38.2% retracement level after consolidating above the 23.6% level.

Some poor US data today could boost the pair, while in line with expectations or better figures may help the greenback to resume its appreciation.

EUR/USD Conclusion! 

A temporary rebound could be natural after EUR/USD’s massive decline. The minor consolidation above the 23.6% retracement level signals a further increase in the short term.

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EURUSD Downside Pressure Confronts Mild Support at 1.1870 Level

EURUSD Downside Pressure Confronts Mild Support at 1.1870 Level

EURUSD Price Analysis – March 22

Despite an earlier improvement in the overall EURUSD outlook, the pair came under pressure as the price tanked towards a low level at 1.1870. EUR is holding well, however the pair can fall on a break below 1.1870 although posting a limited downside we can see a reversal from there. Retreating Treasury yields capped any strong gains for the USD bulls and helped limit the slide.

Key Levels
Resistance Levels: 1.2190, 1.2050, 1.1952
Support Levels: 1.1870, 1.1740, 1.1693
EURUSD Long term Trend: Ranging
The EURUSD recovery may extend above the moving averages 5 and 13 towards the 1.1952 barriers while above today’s low at 1.1870 level. A ranged movement within 1.1900-1.1950 could be possible for the medium term. Unless a break on either side of this range is seen, it would be difficult to get clarity on further direction.

However, a clear breach of the ascending trendline may change the attention towards the 1.1740 low level. Only a break of 1.1952 level medium-term resistance may imply the present negative phase in EUR has run its course. The pair now trades near 1.1910, representing a 0.10% gain on the day, having rebound from a low of 1.1870.
EURUSD 4-Short term Trend: Ranging
The intraday bias in EURUSD is heading into the neutral zone for the moment. On the upside, a break of the 1.1952 level in the near term will extend the rebound towards the 1.1989 level. In the event of a sustained breach there, the pair will indicate completion of correction from 1.2240 and bring a retest of this high.

On the downside, however, a break of 1.1870 level will extend the correction from 1.2240 to 38.2% retracement of 1.0635 to 1.2240 at 1.1693 level. In the meantime, EURUSD keeps the rebound theme unchanged and is still supported by the ascending trendline support near the 1.1870 level.

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EURUSD still holding 1.1910

EURUSD still holding 1.1910

Key Support: 1.1910
Key Resistance: 1.1940 – 1.1970 – 1.1990

Mid Term View
The EURUSD has been falling for the past 3 weeks, about 3.36% (410 pips), but last week we saw a bottom at the test of the 1.1820 level.

Now that price is trading above the 1.1910 (which confluences with the weekly pivot), a continuation pattern has emerged and the breakout could produce enough momentum to test the previous highs.

1H Chart Analysis
The 1.1910 level is super strong resistance right now and we want to be long at the break of the immediate structure.

we are seeing some mild hidden bullish divergence here and the DXY being capped by the 92.00 level and looking bearish below is what we are looking for for a long here.

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Author : Orlando Gutierrez