EUR/USD Outlook: bears are taking a breather above key support but bias remains negative

Slobodan Drvenica Windsor Brokers

EUR/USD

The Euro is consolidating above key supports at 1.1079/72 (Fibo 61.8% of 1.0981/1.1239 / daily cloud top) but remains biased lower following upside rejection last Thursday (bull trap) and strong fall on Friday.
Rising bearish momentum on daily chart supports further weakness as Friday’s large bearish daily candle weighs heavily.
Firm break below 1.1079/72 pivots is needed to complete failure swing pattern on daily chart and spark fresh bearish acceleration through 1.1065 (trendline support / 100DMA) and 1.1041 (Fibo 76.4%).
Caution on failure to clear 1.1079/72 supports that may keep bears on hold in extended consolidation.
Broken 200DMA (1.1135) marks key barrier and only break here would neutralize and signal formation of double-bottom pattern.

Res: 1.1102; 1.1127; 1.1135; 1.1172
Sup: 1.1079; 1.1072; 1.1065; 1.1041

Interested in EUR/USD technicals? Check out the key levels

1. R3 1.1186
2. R2 1.1164
3. R1 1.1129
PP 1.1107
1. S1 1.1072
2. S2 1.105
3. S3 1.1015

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.