EUR/USD Current Price: 1.1850

  • August US Retail Sales came in much worse than anticipated.
  • The dollar is under pressure ahead of the US Federal Reserve monetary policy decision.
  • EUR/USD ranging within familiar levels, the dollar lacks bullish potential.

The EUR/USD pair is holding below the 1.1900 level, despite the dollar is in sell-off mode. The American currency is down against all of its major rivals ever since the day started, as speculative interest is selling in ahead of the US Federal Reserve Monetary Policy decision.  Pressure on the greenback has been exacerbated by the recently published August Retail Sales, which came in at 0.6%, below expected. Retail Sales Control Group, contracted to -0.1%, missing expectations of 0.5%.

As for the US Federal Reserve, the central bank is expected to maintain its current policy unchanged, although the market is hoping for more details on the recent shift to average inflation. Policymakers will also unveil fresh forecast on employment, inflation and growth.

EUR/USD short-term technical outlook

The EUR/USD pair is retreating from a daily high of 1.1882, maintaining its neutral technical stance in the short-term. The 4-hour chart shows that the pair is back to the 1.1850 price zone, hovering around directionless moving averages. Technical indicators, in the meantime, have turned lower, now standing within neutral levels. It’s all about the Fed and how the market takes the announcement. Nevertheless, the dollar has little chances of turning bullish, despite this latest pullback in EUR/USD.

Support levels: 1.1840 1.1800 1.1750

Resistance levels: 1.1915 1.1960 1.2010  

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 challenges weekly lows after mixed Durable Goods Orders

US Durable Goods Orders were up a measly 0.4% in August, missing expectations of 1.0%, although Nondefense Capital Goods Orders ex Aircraft jumped 1.8%. Equities bounce from lows, but the dollar maintains its strength.

EUR/USD News

GBP/USD loses 1.2700 as the dollar keeps rallying

GBP/USD approaches its weekly low at 1.2674 as demand for the American currency extends into the final trading session of the week. Hopes for a UK trade deal with the EU doing little for Sterling.

GBP/USD News

Gold: Finally some rest bite as XAU/USD holds at $1865 per ounce

It has not been the best week for the gold bugs as the yellow metal has fallen 4.36% since Monday. At the end of the week, the price has started to consolidate at the USD 1865 per ounce area. 

Gold News

Breaking: ​​​​​​​The IRS makes it hard to pretend you don’t have Bitcoin

The cryptocurrency holders might have a hard time trying to hide their Bitcoins or other digital assets. IRS considers changing the standard 1040 form by including a bold question on the front page:  At any time during 2020, did you sell, receive, send, exchange, or otherwise acquire any financial interest in any virtual currency? 

Read more

WTI moves back to flat and once again trades above $40 per barrel

It has been a mixed Friday for WTI as the price is moving sideways heading into the weekend. All of the excitement was last week when the OPEC+ JMMC decided to keep output levels at their current rate until December.

Oil News

Forex Majors

Cryptocurrencies

Signatures