EUR/USD Current Price: 1.1021

  • Trade war headlines creating uncertainty, speculative interest inclined to buy the greenback.
  • No relevant macroeconomic data scheduled for this Monday, sentiment to keep leading.
  • EUR/USD set to extend its decline after piercing critical Fibonacci support at 1.0992.

The EUR/USD pair has extended its decline on Friday, closing the week at 1.1020, its lowest settlement in almost a month. The shared currency was unable to take advantage of its American rival, in spite of the seesawing market’s sentiment following US-China trade war headlines. Speculative interest was hoping that both countries would roll back levies in phases once a deal is reached, although ahead of the close, headlines indicated that US President Trump hadn’t made a decision on the matter yet. His advisor, Peter Navarro, later confirmed the President’s words, remarked that tariffs are an “insure policy” to make sure that China is negotiating in good faith.  

On Saturday, Trump said that trade talks were moving nicely, adding that there’s no great deal, there won’t be a deal at all. Uncertainty over the issue will likely affect high-yielding assets at the weekly opening. The macroeconomic calendar for these economies will remain empty this Monday.

EUR/USD short-term technical outlook

The EUR/USD is bearish and at a brink of losing a critical support, as it settled below the 50% retracement of its October monthly rally, with the 61.8% retracement of the same run providing support at 1.0992. In the daily chart, the pair is below all of its moving averages, while technical indicators maintain their bearish slopes, supporting a downward extension. In the shorter term, and according to the 4-hour chart, the risk is also skewed to the downside, as the pair is also developing below all of its moving averages,  with the 20 SMA having crossed below the 100 SMA and about to pierce the 200 SMA, as technical indicators consolidate at their lows.

Support levels: 1.0990 1.0950 1.0920

Resistance levels: 1.1030 1.1065 1.1100  

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD soars past 1.2900 as Farage gives additional boost to Conservatives

GBP/USD has leaped above 1.29, the highest since early November, as the Brexit Party has failed to field candidates in 43 additional seats, facilitating a victory for PM Boris Johnson.


EUR/USD advances 1.10 amid upbeat trade headlines, after mixed US retail sales

EUR/USD is trading closer to 1.1050, up on the day. US Commerce Secretary Ross has expressed optimism about reaching a deal with China. The Retail Sales Control Group met expectations with 0.3%.


USD/JPY clings to gains near session tops, around 108.70 post-US data

The USD/JPY pair maintained its strong bid tone near session tops and had a rather muted reaction to the mixed US economic data.


US Dollar Index challenges weekly lows near 98.00

The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main rivals, is now accelerating the downside and threatens to test the key support at 98.00 the figure.

US Dollar Index News

Trump Impeachment: Markets will not like any replacement

The public phase of the impeachment hearings against President Donald Trump has kicked off, with the US public and parties divided more than ever. How does it affect markets?

Read more

Forex Majors