EURUSD Continues To Fall to Levels Below 1.1800, Dollar Seems Firmer

13 September 2021 | Updated: 13 September 2021

EURUSD Price Analysis – September 13

In early Monday trading, the EURUSD opens the week in the red and continues its decline below the 1.18 level. At the time of writing, the pair has dropped even further, reaching new 3-week lows in the 1.1770 level. The resurgence of weakness is in response to the dollar’s continued recovery.

Key Levels
Resistance Levels: 1.1975, 1.1908, 1.1850
Support Levels: 1.1704, 1.1663, 1.1602
EURUSD Long term Trend: Bearish
For the time being, price movement around EURUSD is useless, as it is capped beneath 1.1800. The pair’s outlook is neutral, and bearish moves are solely considered corrective. The pair is currently trading at 1.1784, down 0.20 percent, and facing an immediate challenge at 1.1750, 1.1663, and ultimately 1.1602.

A break over 1.1804, on the other hand, would target 1.1850 on the route to 1.1908. The climb from 1.1602 is considered the bullish phase of the pattern that began with 1.0339. A fresh surge towards the cluster resistance around 1.2350 is expected. As long as the 1.1602 resistance turned support is held, this will remain the better case.
EURUSD Short term Trend: Ranging
The EURUSD has a negative intraday bias. The decrease from 1.1909 could attempt a retracement from 1.1750 to 1.1909 at the level of 1.1804. For the time being, such a drop is viewed as a necessary corrective action. As a result, we may strive for firm support from the 1.1750 marks to include the downside and deliver a rebound.

Nonetheless, a persistent break there might lead to a retracement at the 1.1704 level. On the upside, a break of the moderate resistance level above 1.1804 would turn intraday bias neutral. In general, momentum is becoming more and more appropriately positioned with near-term rallies with a chance to sell.

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EURUSD Stays Under Assault Beneath 1.1900 Despite Dollar Bounce

6 September 2021 | Updated: 6 September 2021

EURUSD Price Analysis – September 6

During the European session on Monday, the EURUSD is under pressure, trading below the 1.1900 marks. The stronger dollar has pulled the pair down to around 1.1860 intraday low at the time of writing. As the US dollar gains support after a dismal NFP-driven fall, the pair is retreating.

Key Levels
Resistance Levels: 1.2050, 1.1975, 1.1908
Support Levels: 1.1850, 1.1804, 1.1750
EURUSD Long term Trend: Ranging
The common European currency is projected to sustain support around 1.1850, with a break below that level taking it to the next support level of 1.1804. The initial resistance level for the pair is projected to be at 1.1908, and a breakthrough might carry it to the second resistance level of 1.1975.

The initial rebound from the level of 1.1663 low is seen as a corrective situation in the long run. In the case of another increase, however, a pullback of the level at 1.1908 to 1.1804 at 1.1850 might limit the upside. A persistent break of the level at 1.1908, on the other hand, might change this bearish pattern and push the correction forward.
EURUSD Short term Trend: Ranging
The EURUSD intraday bias is currently tilting to the negative, and the pair is trading near its medium-term resistance level of 1.1908. As of now, a corrective rebound from the level of 1.1850 is predicted to be complete on a break at the level of 1.1908. A further drop could be witnessed to retest the low of 1.1804.

Meanwhile, a breach there might trigger a broader downturn towards the 1.1750 level. Above its near-term resistance level of 1.1908, the FX pair may lose its intraday bias neutrality, indicating short-term upside (as per its long-term uptrend).

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Renewed Dollar Selling Drives EURUSD To Break the 1.18 Mark

31 August 2021 | Updated: 31 August 2021

On the back of the increased offered position in the dollar, the pair trades in new multi-week highs as investors analyze Powell’s post-Jackson Hole remarks and cautionary message, while month-end flows add to the USD’s gloom.

Dollar selling resumes today, with the EUR/USD finally breaching through the 1.18 level. The NZD, on the other hand, is making a strong comeback after the Covid case number fell to its lowest level in six days. However, the markets remain split elsewhere, with the Euro showing some more strength, followed by the Sterling. The Canadian and Australian dollars lag behind the New Zealand dollar.

Following Friday’s strong rebound and Monday’s ambiguous market action, the EUR/USD has advanced further north of the 1.1800 line. However, the move has stalled ahead of 1.1850 thus far on Tuesday.

Eurozone Shrugs Off a Rise in the Consumer Price Index

In recent months, inflation has been a term among central banks, particularly in the United States. Despite the Fed’s assurances that inflation is only temporary and will subside, the markets continue to be concerned. The ECB is in the odd situation of having to cope with an increase in inflation while also reassuring investors that the increase is only transitory. This message, however, is unlikely to please the markets, which are expecting the Bank to provide some insight into a prospective taper.

The European Central Bank recently updated its forward guidance, stating that it will not raise rates unless there is evidence that inflation will remain “durably” near the two percent objective. For years, inflation has been considerably below the two percent target, but it is expected to exceed it this year.

At the September meeting, policymakers are anticipated to address the timing of a taper of a pandemic emergency bond program. Still, when it comes to tapering, the ECB is lagging behind the Fed and is unlikely to reveal any deadlines before December at the earliest. The Fed has yet to disclose a reduction timeframe, and the European Central Bank is unlikely to be any more forthcoming about its reducing ambitions.

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EURUSD Retains Growth Near 1.1800, Suggests a Further Rise

30 August 2021 | Updated: 30 August 2021

EURUSD Price Analysis – August 30

The EURUSD pair reached a high of 1.1809 and is now holding gains around the 1.1800 mark. Although following the release of the latest Eurozone sentiment figures, the euro remained positive posting modest intraday gains.

Key Levels
Resistance Levels: 1.1975, 1.1908, 1.1850
Support Levels: 1.1750, 1.1704, 1.1663
EURUSD Long term Trend: Bearish
Any following retreat after the recent spike past the 1.1800 level is likely to find some support at the MA 5, which is now around the 1.1775 area. With all eyes beyond the 1.1800 regions, a convincing breach below might trigger some technical selling and drive the decline into the 1.1750 congestion zone.

The increase from 1.1663 is considered as the third phase of the trend from 1.2349 in the long run. The next target for a rally is the 1.2554 level of cluster resistance. As long as the 1.1602 support level holds, this may be the favored situation. However, a sustained break there could signal long-term positive consequences.
EURUSD Short term Trend: Ranging
The EURUSD is still consolidating from its yearly high of 1.2350, and the intraday bias is neutral. If another dip occurs while range trading continues, the downside may be capped by the 1.1663 support level, allowing recovery to begin. The pair may surge from low levels to higher levels.

A prolonged breach of the 1.1804 level, on the other hand, might trigger a stronger surge to the projection of 1.1663 to 1.1850 levels from 1.1602 at 1.2452 levels next. A bullish break over 1.1850 could push the pair higher, possibly reaching the first target of 1.1908, with extensions at 1.1975 and 1.2050.

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EURJPY Strives To Find a Path After It Reaches 128.00

20 August 2021 | Updated: 20 August 2021

EURJPY Price Analysis – August 20

On Friday, the EURJPY continued much under attack at current levels within the 128.00 area. A further decline might take the price down to the 127.00 level. In terms of policy, the gap between the Federal Reserve and the European Central Bank (ECB) is anticipated to increase in the coming year, making the EUR vulnerable.

Key Levels
Resistance Levels: 130.50, 129.61, 128.58
Support Levels: 127.50, 126.72, 126.10
EURJPY Long term Trend: Ranging
Recent lows below 128.00, as seen on the daily chart, may contain possible bearish moves, while the 128.00 level is now holding the upside. Furthermore, EURJPY is projected to keep its downward bias as long as it remains below the major moving average 5 at 128.30.

Likewise, the EURJPY pair’s negative trend continues, as the pair is currently trading at 128.28, beneath the moving averages 5 and 13. If sellers keep moving south, yearly lows around 125.00 might come into the picture, putting 127.50 lows in jeopardy and under pressure.
EURJPY Short term Trend: Bearish
EURJPY holds above 128.00 on the 4-hour timeframe, with a bearish intraday bias. A breach of the 128.58 level, on the other hand, would point to a retest of the 130.00 zones. In the medium term, however, the exchange rate may make a short-term return towards the horizontal barrier at 128.58.

The next support level of 127.50 is a potential objective for bearish traders. It will aim for a further decline if it falls below the 128.00 barriers. The restart of the whole corrective decline from 134.11 will be confirmed by a solid break there. However, the lower border of the ascending trendline may provide support for the exchange rate in the short term.

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EUR/USD Continuation Pattern!

17 August 2021 | Updated: 17 August 2021

EUR/USD drops right now only because the Dollar Index stays higher. DXY’s further growth could force the pair to resume its drop. The pair has found temporary support and now it’s fighting hard to stay above the weekly pivot point (1.1768).

The US Retail Sales is expected to drop by 0.2% in July versus 0.6% growth in June, while the Core Retail Sales could increase by 0.2% versus 1.3% growth in the previous reporting period. The Industrial Production and the Capacity Utilization Rate will be released as well.

Some poor US data could weaken the greenback and could force the pair to increase. On the other hand, good economic figures could send EUR/USD down.

EUR/USD H4 Technical Analysis!

EUR/USD challenges the weekly pivot point (1.1768). It has printed a minor flag, a down channel.  The previous candle signaled that the downside is over and that EUR/USD could try to increase again.

Still, technically, only a valid upside breakout from this pattern could signal an upwards movement ahead. EUR/USD has found support on the descending pitchfork’s median line (ml).

Technically, a temporary decline was somehow expected after the last rally. It remains to see what will happen as the fundamentals will drive the price.

Conclusion! 

EUR/USD has printed a continuation pattern. Making an upside breakout activates this formation and signals a swing higher.

 

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Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

EURUSD Stays Offered Shy of 1.1800 As the Market Tone Worsens

16 August 2021 | Updated: 16 August 2021

EURUSD Price Analysis – August 16

On Monday, the current bullish surge in EURUSD appears to have met some stiff opposition around the 1.1800 thresholds. The market is in a scenario where investors’ sentiment appears to favor the dollar so far, with the pair on the back foot and somewhat fades Friday’s big advance.

Key Levels
Resistance Levels: 1.1908, 1.1850, 1.1804
Support Levels: 1.1704, 1.1650, 1.1602
EURUSD Long term Trend: Ranging
The corrective decline can expand to the 5 moving average, which is currently at 1.1750 and is projected to restrict the bearish move for the time being. In the long run, the positive perspective on EURUSD is projected to remain constant as long as the pair trades above the yearly low and crucial support, which is currently at 1.1704.

In a larger sense, the rise from 1.1704 is the second phase of the trend that began with 1.1602. (low). We should also expect more growth against cluster resistance at 1.1900. As long as the 1.1704 support is held, this will remain the better case. Another trip to 2021 high, this time over the crucial level of 1.2350.
EURUSD Short term Trend: Ranging
In EURUSD 4 hour time frame, the intraday bias is still in place. On the plus side, a break of the 1.1804 level might extend the rally from the 1.1704 low to the 1.1908 July high-level re-test. The 1.1750 level breach, on the other hand, indicates that the 1.1804 level correction is widening by another step.

Intraday bias may go back to the downside for the 1.1704 marks and below. In other words, the EUR may trade between the main levels of 1.1804 and 1.1704 for a while. However, shorter-term bearish momentum has increased, and a test of the 1.1704 level is not out of the question.

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EURUSD Might Target Yearly Lows on Dips Beneath 1.1740 Support

9 August 2021 | Updated: 9 August 2021

EURUSD Price Analysis – August 9

The EURUSD pair is holding above 1.1750 level, although a breach below this level would further empower the sellers. The pair fought to consolidate on its brief intraday rally, hovering well within easy reach of its yearly lows around 1.1704 which was reached earlier on March 31st. It fell further as markets reacted positively to robust US NFP statistics on Friday.

Key Levels
Resistance Levels: 1.1900, 1.1850, 1.1804
Support Levels: 1.1740, 1.1704, 1.1650
EURUSD Long term Trend: Bearish
On Monday, the EURUSD is navigating with a selling direction. The bearish bias, on the other hand, looks to have remained steady, and it will not be surprising to see sellers seek to break the crucial support level of 1.1740 in the coming sessions.

Regardless of this viewpoint, a deeper retreat to the crucial conflict territory around 1.1704 (March lows) remains unfavorable. The recently broken important sector in the mid 1.1700 areas, on the other hand, has now become the next objective of the importance of occasional bullish attempts.
EURUSD Short term Trend: Bearish
The short-term picture indicates that the current corrective bounce may continue, as the pair is blasting up around its moving averages 5 on the 4-hour chart. In the meantime, technical indicators are attempting a recovery steadily rising and entering positive territory.

The next major horizontal resistance level is at 1.1804, which the pair would need to break through to reverse its negative trend. While more pullbacks should not be ruled out just yet, the current rally needs to stay afloat at the 1.1750 level to stay on track; otherwise, it will continue to trend lower.

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EUR/USD Upside Breakout In Cards

22 July 2021 | Updated: 22 July 2021

EUR/USD moves somehow sideways in the short term. It’s located at 1.1796 level higher versus 1.1779 today’s low. The price action signaled that the pair could resume its rebound. It remains to see how the pair reacts around the ECB monetary policy meeting.

Definitely, the Monetary Policy Statement and the ECB Press Conference could bring high volatility and sharp movements in EUR/USD. Also, the US Unemployment Claims and the Euro-zone Consumer Confidence could bring more action.

EUR/USD H4 Chart Technical Analysis!

EUR/USD has found strong support around the weekly S1 (1.1755). Registering only false breakdown with great separation below this level, EUR/USD signaled a potential upside movement.

It has escaped from a minor down channel and now it could move towards the Falling Wedge’s resistance. Technically, the previous H4 candle signaled strong buyers in the short term.

EUR/USD has registered a false breakdown with great separation below the down channel’s resistance and most importantly below 1.1781 static support.

Conclusion!

A new higher high could activate a bullish momentum and could attract more buyers. Only a valid breakout above the next downtrend line could really validate a larger growth.

 

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Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

EURUSD Falls Beneath 1.18 As the Market Sentiment Worsens

19 July 2021 | Updated: 19 July 2021

EURUSD Price Analysis – July 19

EURUSD is selling beneath 1.18, increasing its losses amid fears about rising US inflation and the spread of the Delta covid strain. In times of turmoil, the greenback gains from capital flows as the challenges weigh on the market mood.

Key Levels
Resistance Levels: 1.2050, 1.1975, 1.1870
Support Levels: 1.1704, 1.1602, 1.1422
EURUSD Long term Trend: Ranging
EURUSD has sunk to fresh multi-day lows, as seen on the daily chart, after extending the recent breach beneath the moving averages 5 and 13 at the 1.18 level. This exposes the possibility of a deeper pullback and a re-test of the psychological support around 1.1740. Under the 1.1800 level, the euro’s underlying bullish attitude is in jeopardy.

At the present, the pair is down 0.30 percent at 1.1765, with immediate resistance at 1.1804 level, followed by 1.1870, and eventually 1.1975 in the immediate. A breach of the 1.1870 level to the upside might take the price to the 1.1975 (2021 Jun. 25) level, en route to the 1.2050 levels.
EURUSD Short term Trend: Bearish
In the meanwhile, the EURUSD intraday bias is now skewed downwards. A break of the horizontal support at 1.1740 might signal the start of the next phase, with a 100 percent forecast of 1.2350 to 1.1975 levels from 1.2266 at 1.1700. On the upside, a break over the modest resistance level of 1.1804 might shift the intraday bias to neutral.

On the downside, the 1.1740 zones provide initial support. The next important level of support is around the 1.1700 marks. Nonetheless, the RSI has not yet reached oversold territory, allowing for more selling. A breach below the 1.1740 horizontal support might lead to a deeper loss, with investors targeting a move beneath the 1.1700 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

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