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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

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.