EUR/USD Forecast: Mild selling pressure, downside limited

Valeria Bednarik FXStreet

EUR/USD Current price: 1.0857

The strong momentum in metals undermined demand for the US Dollar.
The calendar will feature no macroeconomic data but multiple Fed speakers.
EUR/USD trades within familiar levels on Monday, lacks clear directional strength.

The EUR/USD pair trades around 1.0860 on a quiet Monday, hovering around its daily opening mid-European morning. Financial markets are in a good mood, with global stocks advancing, keeping the US Dollar on the back foot, particularly against commodity-linked rivals. Record highs in Gold and substantial advances in other metals also undermined demand for the Greenback, albeit an empty European macroeconomic calendar prevents the Euro from advancing.

Heading into the United States (US) opening, easing commodities gives the USD room to add some pips, although EUR/USD continues to lack volatility. The upcoming session won’t bring relevant data either, although multiple Federal Reserve (Fed) speakers will be on the wires and may introduce some noise.

EUR/USD short-term technical outlook

The daily chart for the EUR/USD pair shows a bullish overall stance. The pair trades above all its moving averages, while the 20 Simple Moving Average (SMA) maintains its upward slope, although below mildly bearish 100 and 200 SMAs. In the meantime, technical indicators hold well above their midlines, although heading in different directions, reflecting the absence of a clear directional interest.

In the near term, and according to the 4-hour chart, the risk skews to the downside. The pair has slid below a still bearish 20 SMA and aims to extend its decline. The 100 and 200 SMAs aim marginally higher over 100 pips below the current level, too far to be relevant. Finally, technical indicators aim firmly lower. The Momentum indicator has already pierced its 100 line, while the Relative Strength Index (RSI) indicator approaches its midline from above, reflecting the latest selling batch.

Support levels: 1.0830 1.0795 1.0750

Resistance levels: 1.0890 1.0920 1.0960

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

GBP/USD stays weak below 1.3600 as USD bulls await Warsh's speech

GBP/USD is consolidating near the lower end of its weekly range, below the 1.3600 mark, during European trading hours on Thursday. The pair's downside, however, remains cushioned as traders await Fed Chair Warsh's speech on Friday for more cues about the US central bank's interest rate path before placing fresh directional bets.

EUR/USD holds range around 1.1650 as USD steadies

EUR/USD keeps its range around 1.1650 in the European session on Thursday. Hawkish ECB expectations support the pair as the US Dollar consolidates after the US PCE data-driven advance. The focus remains on Middle East developments and US Jobless Claims data.

Gold struggles to build on gains as traders await Fed Chair Warsh's speech for rate cues

Gold struggles to capitalize on modest Asian session gains on Thursday and remains below its highest level since May 14, touched earlier this week. Traders now seem hesitant to place aggressive directional bets and wait for US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday for cues on the future policy path. The outlook, in turn, will play a key role in influencing the US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

Ripple eases to $1.40, Solana hits $100, DOGE capped below $0.10

Ripple (XRP) and Dogecoin (DOGE) are facing downside pressure after double-digit gains last week, while Solana (SOL) extends its rally to $100. The technical outlook for XRP, SOL, and DOGE points to potential upside as the broader market sustains a risk-on sentiment.

Jackson Hole kicks off after upside PCE surprise

In China, industrial profits rose 17.6% y/y to CNY 4.58tn in the first seven months of 2026, slowing from an 18.7% increase in January-June. The moderation follows several months of strong profit growth around 20% y/y, supported by higher producer prices and solid manufacturing activity.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.