EURUSD Retrieve Some Friction Towards the Level at 1.1077 After an Earlier Crash

9 December 2019 | Updated: 9 December 2019

EURUSD Price Analysis – December 9

The euro is trying to build bullish momentum against the US dollar after the sellers failed to keep the pair below the support level 1.1053 with gain towards the level of 1.1077. The pair rose slightly during Monday’s trading session, showing signs of life. At this point, the market remains relatively restricted in scope but is likely to retreat slightly.

Key Levels
Resistance Levels: 1.1450, 1.1280, 1.1178
Support Levels: 1.1039, 1.0981, 1.0879

EURUSD Long term Trend: Bearish

In the long term trend, the bounce from the level at 1.0879 is seen as a first corrective move. In the event of another advance, the upside should be contained by correcting the level from 1.1450 to 1.0879.

The downtrend from the level at 1.1450 (upward advance) may start at a later stage. However, a continuous breach of the level at 1.1412 may weaken this bearish view and lead to a stronger advance in its bounce in the next upward zone.

EURUSD Short term Trend: Bullish

EURUSD is recovering moderately today but stays within the range at 1.0981 / 1.1116. The intraday bias stays neutral first. On the upside, above the level at 1.1116, the advance from the level at 1.0981 to 1.1178 may continue.

This may also revive the situation where the correction from the level at 1.1178 has been completed and advance from the level at 1.0879 is set to restart. On the downside, a break of the level at 1.0981 may continue the plunge from the level at 1.1178 to retest the lowest level at 1.0879.

Instrument: EURUSD
Order: Sell
Entry price: 1.1077
Stop: 1.1178
Target: 1.0981

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In an Aimless Position, EURUSD Is Stuck Within a Tight Trading Range

2 December 2019 | Updated: 2 December 2019

EURUSD Price Analysis – December 2

Based on the early price action and the current price on the level at 1.1026, the direction of the EURUSD exchange rate for the rest of Monday’s session is likely to be determined by the trader’s reaction to the downward trend scenario. Trading 21 pips lower after the open, the pair was able to alter its price during the session as buyers took control and may end the day, exceeding the opening price.

Key Levels
Resistance Levels: 1.1450, 1.1280, 1.1178
Support Levels: 1.0003, 1.0981, 1.0879

EURUSD Long term Trend: Bearish

Friday’s closing price reversal base halted the fall, for the time being. A trend up to the level at 1.1028 may reaffirm the chart’s pattern, which may trigger a 2-3 day countertrend recovery.

A trend towards the level at 1.0981 may invalidate the closing price reversal base and signal a resumption of the downtrend. The main trend may alter the level at 1.1097. The FX pair displays a short-term weakness (in consonance with its long-term downtrend), with only the medium-term trend still being maintained.

EURUSD Short term Trend: Ranging

The intraday bias in EURUSD stays neutral initially while some recovery may be observed. The top may be contained below resistance on the level at 1.1097 to bring the fall back again. For the downward zone, the level at 1.0981 breaks may increase the fall from the level at 1.1178 to retest the level at 1.0879.

Although, the breaking of the level at 1.1097 may alter the bearish projections and return the advance to the level at 1.1178. The short term range is from the level at 1.1097 to 1.0981 while its retraction zone is from the level at 1.1039 to 1.1053 as the potential resistance.

Instrument: EURUSD
Order: Sell
Entry price: 1.1053
Stop: 1.1097
Target: 1.0879

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EURUSD Slumps as Bears Take Charge of Its Momentum for the 4th Consecutive Day

25 November 2019 | Updated: 25 November 2019

EURUSD Price Analysis – November 25

The Euro slumped on Monday into early European trading, while unable to hold much of the recovery overnight, despite positive news, the dominant trend stays negative. At the same time, the bears face headwinds and may maintain prolonged consolidation, but should remain fully active while staying beneath the base of a daily horizontal level at 1.1055.

Key Levels

Resistance Levels: 1.1450, 1.1250, 1.1178
Support Levels: 1.0000, 1.0989, 1.0879

EURUSD Long term Trend: Bearish

At this moment, the rebound from the level at 1.0879 is considered a corrective move first. If there is a further increase, the increase should be limited to the retracement from the level at 1.1450 to 1.0879.

Whereas the downward trend since the level at 1.1450 (high) may resume at a later phase. Meanwhile, a sustained break of the level at 1.1412 may mitigate this bearish outlook and lead to a stronger increase in the retracement to the upper zone afterward.

EURUSD Short term Trend: Bearish

The EURUSD intraday bias stays down with support on the level at 1.0989. A break may reaffirm that the corrective hike from the low level at 1.0879 is over to the level at 1.1178. We must then see that the further fall retest the level of 1.0879 again.

Although on the upside, above the level at 1.1032, a minor resistance may first neutralize intra-day bias. But the risk may stay down as long as the resistance of the level at 1.1097 may stay intact, in case of recovery. Although the currency is experiencing a range in the short term, it could be a correction, as the long-term trend stays bearish.

Instrument: EURUSD
Order: Sell
Entry price: 1.1032
Stop: 1.1097
Target: 1.0879

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EURUSD Is Dominated by Bull Market Throughout as the Pair Seeks to Recover

18 November 2019 | Updated: 19 November 2019

EURUSD Price Analysis – November 18

The bulls had full control today, moving the market up during the entire European session as the FX pair confirmed its breakout past the high of the prior session after trading up to 1.1068 above during the day.

Key Levels
Resistance Levels: 1.1501, 1.1412, 1.1278
Support Levels: 1.0989, 1.0879, 1.0780


EURUSD Long term Trend: Bearish

EURUSD at the moment, the rebound from the 1.0879 level is initially seen as a remedy and, in the case of a further increase, the increase may be contained by the level at 1.1412 retracements from the level at 1.0879.

Although the downward trend from the 1.1501 (high) level may resume later. However, the sustained plunge from the 1.1412 level may change this bearish position and lead to a greater increase in the retracement to the level at 1.1501.


EURUSD Short term Trend: Ranging

The EURUSD intraday bias stays neutral for the initial position and a further plunge is anticipated as long as the resistance remains at the level at 1.1073. Also, the corrective rebound from the level at 1.0879 is expected to end at 1.1501.

Meanwhile, past the low of the level at 1.0989, the bias will be revised downward to repeat the low of the level at 1.0879. However, the breakout of the level at 1.1073 may soften this bearish trend and push up the bias for the level at 1.1175.

Instrument: EURUSD
Order: Buy
Entry price: 1.1073
Stop: 1.0989
Target: 1.1412

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EURUSD Likely to Hold on to Its Support as Bearish Momentum Faints Slightly

11 November 2019 | Updated: 11 November 2019

EURUSD Price Analysis – November 11

In the European session, at GMT10:00 hrs, the pair is trading at 1.1032, with the EUR trading 0.13% higher against the USD from Friday’s close. And for the 24 hours to 23:00 GMT, the EUR plunged approximately 0.28% against the USD and closed at 1.1019 on Friday, amid the eurozone ongoing political uncertainty.

Key Levels

Resistance Levels: 1.1450, 1.1280, 1.1178

Support Levels: 1.0000, 1.0962, 1.0879

EURUSD Long term Trend: Bearish

The common European currency is expected to hold at support on the level at 1.1016, and a fall through could take it to the next support level of 1.1000. The pair is expected to find its first resistance on the level at 1.1055, and a rise through could take it to the next resistance level of 1.1073.

In the long term picture, the initial rebound from the level at 1.0879 is viewed as a corrective scenario. However, in the event of another advance, upside may be restricted by a retracement of the level at 1.1280 to 1.0879 at 1.1450. Although, a sustained break of the level at 1.1450 may alter this bearish pattern and bring more advancement of the correction.

EURUSD Short term Trend: Bearish

EURUSD intraday bias stays lightly on the downside in the present while it stays on its medium-term support on the level at 1.1016. A corrective rebound from the level at 1.0879 is expected to be over on the level at 1.1178 as of now. A further plunging may be seen to retest the level at 1.0879 low.

Meanwhile a break there may resume a larger downtrend from the level at 1.1178. Above its near term resistance on the level at 1.1092 may alter its intraday bias neutrality hence, the FX pair displays weakness in the short-term (as per its long term downtrend).

Instrument: EURUSD
Order: Sell
Entry price: 1.1055
Stop: 1.1092
Target: 1.0879

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Euro Higher Against a Weaker Dollar as the Pair Finds Buyers Again Around the Level at 1.1128

4 November 2019 | Updated: 4 November 2019

EURUSD Price Analysis – November 4

The euro enlisted higher when the US dollar fell. The FX pair, albeit marginally unstable, was cited close to the recently settled highs. Financial data for the euro region is yet to be released. This left the greater part of the overwhelming effect in the US data release. Numerous reports have kept the dollar moderate.

Key Levels

Resistance Levels: 1.1450, 1.1412, 1.1280

Support Levels: 1.1026, 1.0923, 1.0879

EURUSD Long term Trend: Bullish

In the long term trend, presently, the bounce back from the level at 1.0879 is viewed as a remedial move first. Thus, upside ought to be constrained by a retracement of the level at 1.1450 to 1.0879 at 1.1280.

Also, lower consolidation from a down pattern from the level at 1.1450 (high) would continue at a future point. Notwithstanding, a supported break of the level at 1.1280 may lessen this bearish pattern and establish a further advance of retracement to the level at 1.1450 next.

EURUSD Short term Trend: Ranging

The intraday bias in EURUSD stays neutral in the present and consolidation from the level at 1.1178 is likely to extend northwards. A further advance is probable with the level at 1.1026 support staying intact.

However, on the upside break of the level at 1.1178 may reactivate the bounce from the level at 1.0879 to 1.1412 key resistance. Moreover, a break of the level at 1.1026 downwards may ascertain that bounce from the level at 1.0879 has finished the retracement cycle. Then the intraday bias may turn back to the downside for retesting the level at 1.0879.

Instrument: EURUSD
Order: Buy
Entry price: 1.1178
Stop: 1.1026
Target: 1.1412

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Sellers Restricted, as EURUSD Trends Cautiously and Slightly Higher

28 October 2019 | Updated: 28 October 2019

EURUSD Price Analysis – October 28

The EURUSD trends slightly higher after sellers were earlier restricted in today’s trading, but upward barriers remain with opportunity for sellers at a better price. Trading 26 pips higher after the open, the Euro was able to hold its gains as the upward momentum took control and may end the day higher than its opening price.

Key Levels

Resistance Levels: 1.1450, 1.1280, 1.1210

Support Levels: 1.1026, 1.0926, 1.0879

EURUSD Long term Trend: Bearish

In the daily picture, presently, a rebound from the level at 1.0879 is seen as a corrective pattern initially. Hence, the upside zone may be limited by the retracement of the level at 1.1450 to 1.0879.

Meanwhile, the bearishness from the level at 1.1450 (high) may resume at a later area. However, the perpetual break of the level at 1.1450 will alter this bearish view and bring a forceful advance to the retracement at 1.1450 and father beyond.

EURUSD Short term Trend: Bearish

The FX pair may test as near as likely towards the level at 1.1110 resistance level before retracement downwards. As it is, only a sustained breakout above the level at 1.1110 minor high may alter the negative intraday sentiment wrapped on the EURUSD.

The EURUSD current price is trending close to the minor technical support zone on the level at 1.1073. Although the pair is having a scenario that is ranging, this may just be a stall, as both the short and long-term outlook remains bearish.

Instrument: EURUSD
Order: Sell
Entry price: 1.1110
Stop: 1.1210
Target: 1.0879

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EURUSD Bullish Momentum Fades in the near Term After Hitting the Level at 1.1178

21 October 2019 | Updated: 21 October 2019

EURUSD Price Analysis – October 21

The EURUSD is trending below the horizontal zone at 1.1178 after losing some bullish momentum, earlier in the session the pair had attempted to push past the level at 1.1178 while recording the highest price in 5 weeks.

Key Levels

Resistance Levels: 1.1450, 1.1280, 1.1210

Support Levels: 1.1114, 1.1000, 1.0879

EURUSD Long term Trend: Bullish

On the daily after hitting the horizontal zone on the level at 1.1178, the FX pair is losing some bullish momentum however in the long term a rebound from the level at 1.0879 is seen as a corrective move first.

Meanwhile, the consecutive fall from 1.1412 (high) would resume at a later stage. However, a sustained break of the level at 1.1450 may erase its bearish outlook and bring a stronger rise past the level at 1.1450 and beyond.

EURUSD Short term Trend: Bullish

The continuous advance from the level at 1.0879 is in progress for the test of the level at 1.1412 key resistance next.

However, on the downside, below the level at 1.1114 minor support may likely turn intraday bias neutral and bring consolidations first, before the resumption of another rally. As at present, the EURUSD displays strength in the short-term bolstered by its long-term uptrend.

Instrument: EURUSD
Order: Buy
Entry price: 1.1114
Stop: 1.1000
Target: 1.1210

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EURUSD Trading Within Channel Boundary on Support and Resistance Zones

14 October 2019 | Updated: 14 October 2019

EURUSD Price Analysis – October 14

Despite trading higher for 3 days in a row and closing last week higher on the level at 1.1062, the EURUSD has retraced from its highs in the present session while currently trading on price level at 1.1025.

Key Levels

Resistance Levels: 1.1412, 1.1280, 1.1109

Support Levels: 1.1000, 1.0962, 1.0879

EURUSD Long term Trend: Bearish

On the daily, the EURUSD price is trading close to the key technical support turned resistance level at 1.1026. After spiking up to the level at 1.1042 during the day, the FX pair retraced to retest the level at 1.1026.

In the longer term, the downtrend from the level at 1.1412 (high) is still in progress. And the prior session rejection of the horizontal resistance zone on the level at 1.1062 also maintained its bearishness.

EURUSD Short term Trend: Ranging

Taking a look at the 4-hour chart above, the EURUSD was surging and at some point broke downwards after trading off the resistance turned support area on the level at 1.1026.

As for the session, we see no change in EURUSD’s trend as the corrective recovery from the level at 1.0879 may still extend. But the upside should be limited by the level at 1.1109 resistance to bring down trend resumption.

Instrument: EURUSD
Order: Sell
Entry price: 1.1026
Stop: 1.1109
Target: 1.0879

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Assessment: Why the U.S. Dollar Will Keep on Ruling

14 October 2019 | Updated: 14 October 2019

The dollar has turned out to be considered increasingly significant since the worldwide monetary collapse.

The U.S. dollar’s significance as a worldwide and safe-haven money has increased since the worldwide monetary collapse, and today it is evident as it seems, by all accounts, to be the world’s only universal money.

In 2017, noticeable financial specialists Carmen Reinhart and Kenneth Rogoff of Harvard University published that by certain measures “its utilization is far more extensive today than 70 years back,” when the Bretton Woods Conference built up the post-war worldwide money related framework.

Why has that occurred? One explanation was the eurozone dispute, which raised genuine worries about the euro’s future. Just the pledge by previous European Central Bank President Mario Draghi to “take the necessary steps to save the euro” safeguarding a breakdown of the common money.

Worldwide financial specialists and organizations accomplished the reasonable thing and transferred funds out of the euro EURUSD, – 0.0091% and into the greenback.

The Dominance of Dollar-Denominated Assets
Along these lines, since 2005, the share of the cross-border holdings of corporate obligation designated in dollars bounced from generally 45% to 70%, while the share in euros crashed from around 35% to 20%. Furthermore, the euro’s rate versus the dollar has crashed about 30% from July 2008, when one euro was worth $1.60, as of recently, when it marks about $1.10.

In any case, that is not the entire story, Chicago Booth’s Brent Neiman had stated in a recent news release that “nearly the definition” of a safe asset “is that it performs well, increases in value, during times when other assets are not progressing admirably, that in times when you expect it to appreciate it doesn’t disappoint.”

As at the time of the money related and eurozone dispute, there was “hard proof that the dollar did possess capacities like global or worldwide money, similar to a safe asset,” Neiman stated. “What’s more, having breezed through the test, the world coagulated around that view thusly.”

Consequently, the dollar had the option to recover the “extreme benefit” it had during its post-war rule on the highest point over several fiats.

Will it proceed? Neiman calls attention to the fact that the dollar has huge structural privileges — like the number of cross-border payments processed in dollars, even by numerous nations that have their monetary forms, and the strength of the dollar in derivative markets, where organizations and speculators put a hedge in place.

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.