EUR/USD

The Euro dipped to three-day low on Thursday, seeing increased risk of deeper pullback after bulls showed strong signals of stall by leaving two consecutive inverted hammer candles (Tue/Wed).
Daily RSI turned south, warning of loss of momentum and fresh weakness cracked 10DMA (1.1831).
Fresh bears faced headwinds from strong support provided by daily cloud top that temporarily stopped fall, but fundamentals work against the Euro as risk sentiment fades on raging coronavirus and new restrictions and signals that the ECB may further ease policy in December as inflation expectations are falling again.
Bears look foe initial signal on close below 10DMA, with penetration of daily cloud (spanned between 1.1811 and 1.1762) to further weaken near-term structure.
The pair may hold in extended consolidation if failing to clear 10DMA, but near-term bias is expected to remain negative as long the action stays below cracked Fibo barrier at 1.1878 (76.4% of 1.1919/1.1745 bear-leg).

Res: 1.1856; 1.1878; 1.1893; 1.1919
Sup: 1.1831; 1.1811; 1.1796; 1.1784

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

GBP/USD tumbles from the highest since 2018 on the Brexit impasse

The GBP/USD roller coaster continues with a downfall below 1.35 after the pair hit a 31-month high of 1.3539 earlier. Brexit talks have yet to yield an agreement. Negotiations are set to continue through the weekend.

GBP/USD News

EUR/USD battles 1.2150 after disappointing NFP

EUR/USD is trading off the 32-month highs amid bumps in US stimulus and vaccine distribution. Markets await the all-important US Nonfarm Payrolls missed expectations with 245K jobs gained in November. 

EUR/USD News

XAU/USD fails to break $1850 and turns to the downside

Gold peaked after the beginning of the American session at $1848/oz reaching the highest level since November 23 and then turned to the downside. It bottomed at $1829 and is it about to end the week hovering around $1830.

Gold news

Dollar downfall explained and what's next for markets

The safe-haven US dollar is hitting multi-month and multi-year lows against its peers while stocks are on fire. What is behind the risk-on rally? Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss markets' moving parts as 2020 nears its end.

Read more

Extra week of Black Friday!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex Majors

Cryptocurrencies

Signatures