fxsoriginal  Daily EUR/USD technical outlook

Last Update At 22 Jul 2021 00:12GMT

Trend daily chart


Daily Indicators

Bullish convergences.





Trend hourly chart


Hourly Indicators






Daily analysis

Recovery before one more fall.


1.1881 - Jul 09 high.
1.1850 - Last Thur's high.
1.1824 - Mon's high.


1.1753 - Wed's fresh 3-1/2 month low.
1.1705 - 2021 low (Mar 31).
1.1689 - Oct 15, 2020, low.

EUR/USD - 1.1793

Although the euro remained on the back foot in Asia Wed n briefly penetrated Tue's 1.1756 low to a fresh 3-1/2 month trough of 1.1753 in Europe, short-covering lifted price to 1.1782, then later to 1.1804 in NY.

On the bigger picture, despite euro's LT up move FM 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, subsequent decline to a near 3-year 1.0637 low in Mar 2020 signals correction has ended. Despite an impressive up move to a near 33-month 1.2349 peak in early Jan 2021, a subsequent decline to 1.1705 (Mar) signals top is made. Although the euro climbed to 1.2266 in May, the subsequent fall to 1.1773 in mid-Jul suggests a re-test of 2021 bottom at 1.1705 would be seen, a break would extend MT fall FM 1.2349 TWD 1.1603 b4 correction occurs due to 'bullish convergences' on daily indicators. Only abv 1.1894 signals temp. low made n risks stronger retracement TWD 1.1975, break, 1.2093.

Today, as Wed's 1.1753 low was accompanied by 'bullish convergences' on hourly indicators, subsequent recovery signals temp. low is made n consolidation is seen ahead of the key ECB announcement. As long as 1.1850 res holds, weakness TWD 2021 bottom at 1.1705 is likely. Only abv 1.1850 risks 1.1880/90.


Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD hovers around 1.1900, retains weekly gains

The EUR/USD pair trades around the 1.19 mark after the Eurozone Q2 Prelim GDP beat estimates with 2% while US PCE inflation rose by less than anticipated in June, printing at 3.5% YoY. Risk-on mood persists.


GBP/USD retreats after flirting with 1.4000

GBP/USD retreated from near the 1.4000 level, but the greenback remains away from investors' radar. Optimism over the Brexit issue and the declining trend in new COVID-19 cases in the UK offers support to the pound.


XAU/USD slides to $1,820 area, downside seems limited

Gold traded with a mild negative bias around the $1,825 region, or daily lows, during the early North American session, albeit lacked any follow-through selling.

Gold News

Shiba gets listed on eToro as demand for SHIB skyrockets

Leading investment platform eToro has been adding cryptocurrency assets on popular demand from users. The Dogecoin killer recently amassed 600,000 holders despite range-bound price action. 

Read more

NIO shares rise again as Wall Street shrugs off recent China woes

NYSE:NIO added 1.86% as EV and China stocks bounced back again. Nio rides higher as industry leader Tesla gets some major upgrades. Nio rival XPeng releases a refreshed look for its compact SUV.

Read more