EUR/USD Current Price: 1.1092

  • Trade war headlines continue to lead the way for currencies.
  • The US ADP survey showed that the private sector added just 67K new jobs in November.
  • EUR/USD pressuring the 1.1100 figure, more gains expected with a disappointing PMI.

The EUR/USD pair has continued consolidating Monday gains just below the 1.1100 figure throughout the first half of the day, indifferent to data. The focus is on trade developments, as the market’s sentiment oscillates alongside US-China related headlines. There was a spike of optimism mid-London session, following a report indicating that the US and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal, although it was short-lived.

In the data front, Markit released the final versions of November Services PMI, which were revised up for Germany, to 51.7 and for the EU to 50.6. In minor economies, however, the indexes were revised lower. In the US, the ADP employment survey showed that the private sector added just 67K new jobs in November, way below the 140K expected, pushing the greenback lower. Still, the market is waiting for the ISM Non-Manufacturing PMI, foreseen in November at 54.5 from the previous 54.7. A disappointing figure will likely send the EUR/USD pair further up.

EUR/USD short-term technical outlook

The EUR/USD pair is poised to extend its advance, after meeting buyers once again around 1.1065, a critical Fibonacci support level. In the 4-hour chart, the pair is extending gains above a directionless 200 SMA, while the 20 SMA advances above the 100 SMA, both below the current level. Technical indicators, in the meantime, resumed their advances after correcting extreme overbought conditions, currently below their previous weekly highs. The 23.6% retracement of the October rally comes at 1.1108, providing immediate resistance. More gains are to be expected on a break above it.

Support levels: 1.1065 1.1030 1.0985

Resistance levels: 1.1110 1.1150 1.1190

View Live chart for the EUR/USD


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.

Analysis feed

FXStreet Trading Signals now available!

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

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News

Forex Majors