EURUSD Holds Within the Mid-1.1500s, Held by the Greenback’s Recovery

11 October 2021 | Updated: 12 October 2021

EURUSD Price Analysis – October 11

The EURUSD pair is under siege from sellers, dragging prices back to the mid-1.1500s at the start of the week. The recovery of the dollar’s buying sentiment, combined with higher US rates across the curve, encourages the US Dollar Index’s price action to shift to the upside.

Key Levels
Resistance Levels: 1.1850, 1.1750, 1.1640
Support Levels: 1.1529, 1.1422, 1.1250

EURUSD Long term Trend: Bearish
Daily, the EURUSD appears fragile, and consolidation below 1.1529 could set the stage for more losses. Deviation from levels over 1.1650, which marks the upper limit of a broad range, may pick up speed. The 1.1422 level could be approached if the daily exit is below the horizontal support level of 1.1529.

Following the drop, the EURUSD will encounter resistance in the 1.1640 price range, where it reached intraday highs in early October. If the pair continues to rise over the indicated resistance level, it will be exposed to the daily moving average 13 at 1.1623 and horizontal barrier at 1.1640.

EURUSD Short term Trend: Bearish
The EURUSD is still trading in a range below 1.1600, and the intraday sentiment is within the usual range. The breakout of the 1.1750 level, on the other hand, may validate the scenario in which the consolidation from the 1.1908 level concluded at the 1.1529 level.

Further gains might lead to a retest of 1.1640 and a break of the 1.1908 high. A break of the 1.1529 support level, on the other hand, will catalyze the downtrend and lead to another round of drop. EURUSD is now trading lower in the short term, with 1.1500 expected to provide immediate support for further losses.

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 results

  • 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.