EUR/USD Price Forecast: Stabilizing around 1.1800
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UPGRADEEUR/USD Current price: 1.1795
- The US Bureau of Labor Statistics suspended the release of employment-related data this week.
- The positive tone of global equities hints at a better market mood.
- EUR/USD loses its bearish momentum, but a recovery is still unclear.
The EUR/USD pair is under modest selling pressure on Tuesday, trading below the 1.1800 threshold and near its weekly low of 1.1776.
Meanwhile, a partial United States (US) government shutdown entered its fourth day on Tuesday due to a lack of funding amid yet another political battle over the budget. Democrats demand immigration reforms as part of any funding deal, which opposes President Donald Trump’s aggressive deportation policy.
Senate Democrats and Republicans agreed to a package of five spending bills last week, but pared one bill on full fiscal year funding for the Department of Homeland Security (DHS).
An agreement is due shortly, but as a result of this partial shutdown, the Bureau of Labor Statistics (BLS) announced that it will interrupt reporting on Monday. As a result, the JOLTS Job Openings report, weekly unemployment figures, and the January Nonfarm Payrolls (NFP) report will not be published this week.
The European macroeconomic calendar had nothing relevant to offer, leaving EUR/USD trading alongside sentiment. The upbeat tone of global indexes suggests market players are optimistic, limiting the US Dollar (USD) advance and keeping Gold below the $5,000 mark.
EUR/USD short-term technical outlook
In the 4-hour chart, EUR/USD is at risk of falling further, although the downward momentum faded. The pair is stable below a bearish 20-period Simple Moving Average (SMA), while above the 100 and 200 SMAs. The shorter SMA provides resistance at 1.1869, while the 100 SMA at 1.1764 offers support. At the same time, the Momentum indicator turned marginally lower within negative levels, while the Relative Strength Index (RSI) sits at 38, ticking marginally higher, offering no hints on the next directional move.
In the daily chart, EUR/USD keeps trading above all its moving averages, with the 20-day SMA advancing above the 100- and 200-day SMAs, highlighting a mid-term bullish bias. The 20-day SMA at 1.1750 offers nearby dynamic support. Finally, the Momentum indicator holds above its midline while the RSI indicator sits at 52, tilting modestly to the upside, yet not enough to suggest buyers recovered control.
(The technical analysis of this story was written with the help of an AI tool.)
EUR/USD Current price: 1.1795
- The US Bureau of Labor Statistics suspended the release of employment-related data this week.
- The positive tone of global equities hints at a better market mood.
- EUR/USD loses its bearish momentum, but a recovery is still unclear.
The EUR/USD pair is under modest selling pressure on Tuesday, trading below the 1.1800 threshold and near its weekly low of 1.1776.
Meanwhile, a partial United States (US) government shutdown entered its fourth day on Tuesday due to a lack of funding amid yet another political battle over the budget. Democrats demand immigration reforms as part of any funding deal, which opposes President Donald Trump’s aggressive deportation policy.
Senate Democrats and Republicans agreed to a package of five spending bills last week, but pared one bill on full fiscal year funding for the Department of Homeland Security (DHS).
An agreement is due shortly, but as a result of this partial shutdown, the Bureau of Labor Statistics (BLS) announced that it will interrupt reporting on Monday. As a result, the JOLTS Job Openings report, weekly unemployment figures, and the January Nonfarm Payrolls (NFP) report will not be published this week.
The European macroeconomic calendar had nothing relevant to offer, leaving EUR/USD trading alongside sentiment. The upbeat tone of global indexes suggests market players are optimistic, limiting the US Dollar (USD) advance and keeping Gold below the $5,000 mark.
EUR/USD short-term technical outlook
In the 4-hour chart, EUR/USD is at risk of falling further, although the downward momentum faded. The pair is stable below a bearish 20-period Simple Moving Average (SMA), while above the 100 and 200 SMAs. The shorter SMA provides resistance at 1.1869, while the 100 SMA at 1.1764 offers support. At the same time, the Momentum indicator turned marginally lower within negative levels, while the Relative Strength Index (RSI) sits at 38, ticking marginally higher, offering no hints on the next directional move.
In the daily chart, EUR/USD keeps trading above all its moving averages, with the 20-day SMA advancing above the 100- and 200-day SMAs, highlighting a mid-term bullish bias. The 20-day SMA at 1.1750 offers nearby dynamic support. Finally, the Momentum indicator holds above its midline while the RSI indicator sits at 52, tilting modestly to the upside, yet not enough to suggest buyers recovered control.
(The technical analysis of this story was written with the help of an AI tool.)
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