EURUSD’s Uptrend at Risk Following Price Movement Below the 1.18 Mark

EURUSD’s Uptrend at Risk Following Price Movement Below the 1.18 Mark

EURUSD Price Analysis – September 21

The continuation of the upside momentum in the EURUSD is at risk following the price movement below the 1.18 mark. The better start of the week in the greenback is forcing EURUSD to recede to fresh 2-day lows in the sub-1.18 area on Monday. Concerns about the second wave of the COVID-19 infections weighed on investors’ sentiment.

Key levels
Resistance Levels: 1.2011, 1.1965, 1.1852
Support Levels: 1.1750, 1.1685, 1.1422
EURUSD Long term Trend: Ranging
As observed on the daily, momentum indicators are turning lower and EUR could continue to trade quietly, expected to be between 1.1750 and 1.1852 levels. From a technical perspective, the emergence of some dip-buying near ascending trendline support at 1.1750 may favor bullish traders.

Hence, any subsequent positive move is more likely to confront a stiff resistance near the 1.1900 marks. That said, some follow-through buying might trigger some near-term short-covering move and push the pair further beyond the 1.1916-40 supply zone, towards reclaiming the key 1.2000 psychological marks.
EURUSD Short term Trend: Bearish
Looking at the 4-hour chart, the pair traded as low as 1.1737 last week before starting a fresh increase. However, there is the battle raging between bears and bulls and the EURUSD is within the bearish zone now.

Intraday bias in EURUSD stays neutral for the moment. On the downside, below 1.1737 level will reaffirm the bearish case, which is the fall from 1.2011 level is correcting the whole rise from 1.0635 level. On the upside, though, a break of the 1.1916 level will revive near term bullishness and bring retest of the 1.2011 resistance level first.

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EURUSD Retains Range Trading Beyond 1.1750 Level, Mild Rallies on Data Release

EURUSD Retains Range Trading Beyond 1.1750 Level, Mild Rallies on Data Release

EURUSD Price Analysis – September 17

EURUSD has retained range trading beyond 1.1750 level after approaching the 1.1740/35 levels during the early trading hours. The mixed Eurozone inflation data struggled to move the shared currency, as EURUSD retained its range beyond the 1.1750 level, with mild rallies on data release.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1852
Support Levels: 1.1750, 1.1685, 1.1422
EURUSD Long term Trend: Ranging
The pair is currently losing 0.18 percent at level 1.1795 and confronts the next support at level 1.1750 (monthly low) seconded by level 1.1709 and eventually level 1.1685. A breach beyond 1.1965 (high) level, on the other hand, may aim the 1.2011 level (2020 high Sep.1) heading to a high 1.2032 level.

In the wider sense, an increase from level 1.0635 is seen as the third step of the trend from level 1.0339 (low). The region resistance at 1.2555 level (38.2 percent retracement of 1.0635 to 1.0339 at 1.2516 levels) may see a further rally increase. This will persist in the optimal scenario for as long as the resistance level of 1.1422 turned support stays.
EURUSD Short term Trend: Ranging
The breach of the 1.1750 support level by EURUSD signals a recovery of the decline from the level of 1.2011 and shifts the intraday bias back to the downside. More significantly, ongoing trading beneath the level of 1.1750 may validate the progression of a head and shoulder peak in 4 hours RSI on a bearish divergence.

A sharper decrease can then be seen at 1.1422 level to 38.2 percent retracement from 1.0635 to 1.2011 levels, to resolve the increase from 1.0635 level. As of now, in the event of recovery, the risk may linger on the downside as long as the resistance level of 1.1916 persists.

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EURUSD Adds to the Prior Week’s Advance, Approaches Beyond the 1.1870 Mark

EURUSD Adds to the Prior Week’s Advance, Approaches Beyond the 1.1870 Mark

EURUSD Price Analysis – September 14

The European currency versus the USD advances for the fourth consecutive session so far on Monday, on approach beyond the 1.1870 marks while keeping the buying bias unchanged despite the failed attempt to extend the prior week’s advance further north of the 1.19 handle.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1916
Support Levels: 1.1852, 1.1750, 1.1685
EURUSD Long term Trend: Bullish
On the daily chart, EURUSD retains a bullish bias above 1.1750 level and the beneath support lines. Nonetheless, the price may shift sideways before it resumes a positive bearing. If sellers manage to take control, early limitations may arise from the 1.1750 low level ahead of the critical support section from the 1.1709 level.

EURUSD is currently at a standstill, curbed by the 1.1685 and 1.2011 boundaries, though is still communicating an intact upside development in price that recently stretched slightly above the 1.2000 psychological number.
EURUSD Short term Trend: Ranging
Looking at the 4-hour time frame, short-term oscillators appear to be gaining strength again. The MA’s are in the positive region, price is below its prior week’s high but looks determined to retake it, while the RSI is growing from a bounce near the 50 marks.

The near-term action from last week’s correction low at 1.1750 level shows a series of higher lows that points to ascend, however, bulls continue to face headwinds and so far failed twice to break above the pivotal barrier at 1.1900 marks (38.2% of 1.2011/1.1750 levels pullback).

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EURUSD Edges Higher With Positive Gains Around 1.1830/40 Levels Ahead of ECB’s Meeting

EURUSD Edges Higher With Positive Gains Around 1.1830/40 Levels Ahead of ECB’s Meeting

EURUSD Price Analysis – September 10

The Euro progresses higher in trading early Thursday, following positive gains around the 1.1830/40 levels hurting pessimistic sentiment in the near term. EURUSD has improved as investors expect the European Central Bank (ECB) to send out a message of confidence.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1916
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
Technically, as observed in the daily chart, EURUSD Spot is holding steady at a level of 1.1835 and has undergone bearish divergence in prices giving higher highs while the RSI indicator gives lower highs, thus further potentially supporting bearishness.

Initial support is at 1.1750 level around which access to 1.1685-1.1422 levels may be open. If it stays under this mark then the next support is at level 1.1422. On the upside, an initial resistance is at level 1.1916, and then at levels 1.1980-1.2011.
EURUSD Short term Trend: Ranging
Intraday bias in EURUSD stays initially neutral. On the downside, a decisive breach of 1.1750 level may indicate short-term topping at 1.2011 level, in 4 hour RSI range condition. The intraday bias is shifted downside for the ascending trendline support (from level 1.1685).

There may be a prolonged break indicating that the fall may correct the entire increase from 1.0635 to 1.1495 levels and aim 1.0635 to 1.2011 levels. That being said, the rebound from the present level, accompanied by a resistance level of 1.2011, may also restart the increase from 1.0635 level.

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EURUSD Stays Under Pressure Beyond the Level at 1.1800 As the US, Canada Holidays Keep Volumes Low

EURUSD Stays Under Pressure Beyond the Level at 1.1800 As the US, Canada Holidays Keep Volumes Low

EURUSD Price Analysis – September 7

EURUSD holds the selling bias unaltered at the beginning of the week, although it has so far managed well to stay under pressure beyond the 1.18 level as the dollar maintains its resilience, holidays in the US and Canada hold volumes at lows. The good impact of European indexes restricts the dollar’s advance, which nevertheless stays among the strongest.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1916
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
It is remarkable to see the daily candles start to look more unpredictable, with two very small-bodied candlesticks in succession. The corrective traction which pulled the market back from level 1.2011 has now started to consolidate. This comes just beyond the near-level support at 1.1750 while the main medium to long-term support stays unchanged at 1.1685/1.1750 levels also.

Consolidation should be the real key today, but support for another step higher is now beginning to grow. The daily RSI has not validated the new high beyond the 1.20 mark, opening the path to any weakness in the near term. The initial barrier still appears on the upside at the recent peak near the level of 1.2011.
EURUSD Short term Trend: Ranging
For consolidations initially, the intraday bias in EURUSD stays neutral. With a 1.1750 support level intact, further rise is in progress. On the upside, the level breach of 1.2011 may aim to resume the entire increase from level 1.0635.

On the downside, a strong breach of 1.1750 level may confirm short-term topping and transform the downside to broader pullback, horizontal resistance (now at level 1.1685), and beneath. The 4-hour chart indicates an improved bearish potential for the EURUSD pair.

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EURUSD Extends Corrective Downside Beneath 1.1800 Level

EURUSD Extends Corrective Downside Beneath 1.1800 Level

EURUSD Price Analysis – September 3

In the second half of the week, the selling bias stays consistent around the common currency, with EURUSD challenging 5-day lows initially while expanding corrective downside beneath 1.1800 level. Besides that, USD-dynamics continues to be the primary catalyst for the global market price action.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1916
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
The pair presently drops 0.31 percent at level 1.1814 and confronts the next support at level 1.1750 (low) seconded by level 1.1709 (low) and finally level 1.1685 (low). On the other side, a leap beyond 1.2011 (2020 high Sep.1) may attempt a level of 1.2032 heading to 1.2413.

In the larger context, the downtrend from the level 1.2555 (high) has already ended at level 1.0635. The increase from level 1.0635 is seen as the third stage of the trend from level 1.0339 (low). As long as the 1.1422 resistance level turned support remains, it may persist in the preferred scenario.
EURUSD Short term Trend: Ranging
Intraday bias in EURUSD initially loses ground with an emphasis on the support level of 1.1750. As long as this support continues, a further increase is still in progress, and the 1.2011 level breach may restore the entire growth from the 1.0635 mark.

A strong breach of the 1.1750 support level, though, may validate short-term topping and transform bias to the downside for a wider pull back, to horizontal support level (now at 1.1606) and down. Some follow-through buying of USD nevertheless led to the corrective pullback of the EURUSD pair.

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Euro Retest Barrier Levels As Yen Eases Further on Yields

Euro Retest Barrier Levels As Yen Eases Further on Yields

The Yen is trading in the shadows today despite mixed risk markets. Treasury yields are again weighing on the Yen, with US 10-year yields remaining stable at handle 0.73. German 10-year bonds also bounced back above -0.4%. US stocks opened slightly lower after a slight fall in Europe, but this is only a slight decline.

Euro and Canadian dollar are relatively stronger so far. The dollar is mixed as the recovery attempt will be relatively short-lived. The Australian dollar is also mixed, awaiting tomorrow’s guidance from the RBA.

The dollar remained under selling pressure, hitting new lows against most of its major rivals after a moderate bullish corrective move. The dollar index fell to its lowest level in almost 2 years and was unable to recover after the last announcement by the Fed of a change in monetary policy. The Japanese currency was the weakest, ending the day in the red against the dollar.
Euro Retest Its Barriers
Technically, the EUR/USD pair is now close to the 1.1965 resistance, a breakout of this point will resume stronger gains from 1.0635. Let’s see if this will depreciate the dollar elsewhere. But for now, it looks like buying the euro is the main driving force as EUR/JPY is also close to the 126.75 resistance. EUR/GBP is also recovering from a slight resistance at 0.8974.

In other markets, the DOW is currently down -150 points. In Europe, the FTSE was down 0.61%. The DAX was down 0.24%. The CAC was down -0.43%. Germany’s 10-year bond yield rose 0.019 to -0.390, again above -0.4. Earlier in Asia, the Nikkei rose 1.12%. The HSI index in Hong Kong fell 0.96%. China Shanghai SSE fell 0.24%. The Singapore Strait Times fell by 0.28%. The yield on Japan’s 10-year JGB fell from -0.0082 to 0.053.

Shares closed mixed in the US and mostly declined in Europe as investors took a cautious stance ahead of a busy week.
Commodities traded unevenly as crude oil prices fell, driven by weak stocks, while gold prices rose. The spot settled at $1,970.00 per troy ounce, slowly returning to the $2,000 threshold.

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EURUSD Extends Positive Traction Past Level at 1.1900 Ahead of Data

EURUSD Extends Positive Traction Past Level at 1.1900 Ahead of Data

EURUSD Price Analysis – August 31

EURUSD continues to keep traction past the 1.19 mark, recapturing the upside bias to the 1.1883/80 band or daily lows after an early lower move. The pair holds gains of more than 1.19 marks to last weeks, notching fresh multi-day highs at the same time and relaunching the positive side weekly.

Key Levels
Resistance Levels: 1.1980, 1.1965, 1.1940
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
Last week, EURUSD emerged beyond the multi-day trending structure and proceeded to reclaim the 1.19 mark and beyond, where it is now seeking to consolidate. The pair is currently up 0.24 percent at level 1.1932 and a step beyond level 1.1965 (2020 high Aug.18) may aim 1.1996 (strong) on the way to level 1.2032.

On the other side, the next support is situated close to level 1.1750 seconded by level 1.1709 (weekly low Aug.12) and finally level 1,1695 (low Jul 27). As long as the 1.1422 resistance level turned support holds, this might stay the desired scenario.
EURUSD Short term Trend: Ranging
In EURUSD, range trading persists and intraday bias stays initially neutral. A further increase is in support and breach of level 1.1965 may restore entire growth from level 1.0635. Regarding the upside condition in 4 hour RSI, nevertheless, a breach of 1.1709 level may indicate short-term topping.

The short-term oscillators further show that positive traction is rising. For intraday bias can be switched back to the downside (now at 1.1606 horizontal support level). If sellers re-emerge, initial obstacles may emerge from the near-term low horizontal support lines at 1.1852 and 1.1806 levels respectively, ahead of the 1.1750 level.

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Upside Resistance Caps EURUSD Around 1.1850 Level, Calm Before the Storm

Upside Resistance Caps EURUSD Around 1.1850 Level, Calm Before the Storm

EURUSD Price Analysis – August 27

EURUSD is posting modest gains in the 1.1801-1.1850 region while Thursday’s daily chart is showing that the pair is capped beneath the at 1.1850 but has upside momentum. The calm before the storm is awaiting Fed Chair Powell’s critical Jackson Hole speech. The Fed may adopt a looser policy on inflation, potentially weakening the dollar.

Key Levels
Resistance Levels: 1.1980, 1.1940, 1.1916
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
After reaching fresh highs near the 1.1965 regions earlier in the month, EURUSD now confronts some consolidation. During the current session, EURUSD tried to crack the upper boundary of the neutral zone it ranged over the past week, but its attempts failed as the upside barrier once again protected the bears about 1.1850 level.

The increase from level 1.0635 is seen in the wider sense as the third step of the cycle from level 1.0339. The cluster resistance at 1.2555 is next at (38.2 percent retraction from 1.6039 to 1.0339 at 1.2516 levels) might be seen as more rally increase. As long as 1.1422 resistance level turned support persists, this will stay the preferred scenario.
EURUSD Short term Trend: Ranging
With range trading continuing, the intraday bias in EURUSD remains neutral. As long as there is a support level of 1.1709, an additional increase is slightly in support. On the contrary, a breach of level 1.1965 may prolong the entire increase from level 1.0635.

Nevertheless, given the condition of bearish divergence in 4 hrs RSI, a breach of 1.1709 level would validate short-term topping. For the horizontal support line (now at 1.1606 level) the intraday bias is shifted back to the downside.

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Risk of Deeper Pullback As EURUSD Regains Traction Towards 1.1852 Level

Risk of Deeper Pullback As EURUSD Regains Traction Towards 1.1852 Level

EURUSD Price Analysis – August 24

The Euro recovered traction during the European session on Monday after the decline of 0.5 percent on Friday, but there is still a risk of a deeper pullback. The multi-month high pullback at 1.1965 level meets buyers at 1.1754 level, and the continuing extension past 1.1800 level today, triggers immediate positive signals.

Key Levels
Resistance Levels: 1.1980, 1.1940, 1.1916
Support Levels: 1.1806, 1.1709, 1.1685
EURUSD Long term Trend: Bullish
EURUSD holds beneath the moving average of 5 and the pressure stays downwards. Besides, on Friday the pair set a lower high implying the anticipated downtrend. Support awaits at level 1.1750, Friday’s low, followed by level 1.1709, a double-bottom from earlier this month.

Its resistance awaits at a level of 1.1852 level, a low swing from last week, followed by a level of 1.1916. But the positive outlook on the daily chart is further improved by bullish technical indicators. Therefore, any follow-through intensity towards horizontal resistance at level 1.1852 now seems like a strong likelihood amid some initial selling across the greenback.
EURUSD Short term Trend: Ranging
At the moment, the intraday bias in EURUSD holds steady. So long as the 1.1709 support level remains, the further increase may continue slightly in support. A breach of level 1.1965 may prolong the entire increase from level 1.0635.

Nonetheless, given the state of bearish divergence in 4 hrs RSI, a breach of 1.1709 level may validate short-term topping. With the ascending trendline (now at level 1.1685) the intraday bias is shifted back to the downside.

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