EUR/USD Forecast: Consolidating losses and at risk of falling
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADEEUR/USD Current Price: 1.1768
- The market’s sentiment improved, but the greenback retains its strength.
- US Treasury yields keep recovering ground, bouncing from multi-month lows.
- EUR/USD bearish case remains firmly in place, eyes sub-1.1700 levels.
The EUR/USD pair consolidates around 1.1770, as a better market’s mood is barely enough to prevent the greenback from appreciating further against its high-yielding rivals. During London trading hours, the pair fell to 1.1751, a fresh three-month low, a sign that bears retain control.
Wall Street’s recovery is set to continue, as futures advance, following the lead of their European counterparts. In the meantime, government bond yields have recovered, with the yield on the 10-year US Treasury note currently at 1.24%.
The macroeconomic calendar had nothing relevant to offer. The EU did not publish macroeconomic figures, while the US will release MBA Mortgage Applications for the week ended July 16, previously at 16%.
EUR/USD short-term technical outlook
The EUR/USD pair remains bearish. In the 4-hour chart, it keeps developing below bearish moving averages and within a descendant channel. Technical indicators lack directional momentum but hold below their midlines, with the RSI currently near oversold readings. The immediate support level is 1.1750, but the bearish potential will increase if the pair extends its slide below 1.1720.
Support levels: 1.1760 1.1720 1.1685
Resistance levels: 1.1800 1.1840 1.1885
EUR/USD Current Price: 1.1768
- The market’s sentiment improved, but the greenback retains its strength.
- US Treasury yields keep recovering ground, bouncing from multi-month lows.
- EUR/USD bearish case remains firmly in place, eyes sub-1.1700 levels.
The EUR/USD pair consolidates around 1.1770, as a better market’s mood is barely enough to prevent the greenback from appreciating further against its high-yielding rivals. During London trading hours, the pair fell to 1.1751, a fresh three-month low, a sign that bears retain control.
Wall Street’s recovery is set to continue, as futures advance, following the lead of their European counterparts. In the meantime, government bond yields have recovered, with the yield on the 10-year US Treasury note currently at 1.24%.
The macroeconomic calendar had nothing relevant to offer. The EU did not publish macroeconomic figures, while the US will release MBA Mortgage Applications for the week ended July 16, previously at 16%.
EUR/USD short-term technical outlook
The EUR/USD pair remains bearish. In the 4-hour chart, it keeps developing below bearish moving averages and within a descendant channel. Technical indicators lack directional momentum but hold below their midlines, with the RSI currently near oversold readings. The immediate support level is 1.1750, but the bearish potential will increase if the pair extends its slide below 1.1720.
Support levels: 1.1760 1.1720 1.1685
Resistance levels: 1.1800 1.1840 1.1885
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.