Slobodan Drvenica
Windsor Brokers
EUR/USD
EURUSD opened with gap-lower on Monday but dip was short-lived and larger bulls regained control and pushed the price towards last Friday’s new multi-week high (1.0842).
Today’s dip was contained by psychological 1.0800 support (also the top of rising hourly cloud) with subsequent move higher emerging above the top of daily Ichimoku cloud after a shallow penetration.
Near-term bias is expected to remain with bulls as long as the price holds above daily cloud, with repeated daily close above broken Fibo level at 1.0820 (61.8% of 1.0915/1.0666) to reinforce positive near-term outlook.
Last week’s almost 0.9% advance also contributes to developing signals, as daily studies are bullish however, overbought conditions may obstruct bulls and keep the price in prolonged consolidation.
On the other hand, fundamentals are not so bright, as recent economic data showed that performance in bloc’s core industrial sector is still slow (particularly in Germany (EU’s largest economy) which may prompt the ECB to cut rates sooner or more than expected, which would be a negative signal for euro.
Res: 1.0842; 1.0856; 1.0900; 1.0919.
Sup: 1.0820; 1.0800; 1.0777; 1.0756.
Interested in EUR/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
AUD/USD keeps the gradual recovery in place
AUD/USD regained balance and returned to the area beyond the 0.6500 barrier on Thursday, leaving behind the recent pullback. The pair’s rebound came on the back of the strong selling pressure in the US Dollar amid poor data, bets for further Fed rate cuts and trade uncertainty.
EUR/USD has room to advance further
EUR/USD hit fresh tops north of 1.1600 the figure for the first time since October 2021 against the backdrop of an increasingly deteriorated USD outlook. Indeed, the strong selling pressure in the Greenback came in response to another discouraging US inflation results, extra easing of the labour market, and expectations of maybe three rate reductions by the Fed this year.
Gold consolidates its gains near $3,380
Gold maintains its weekly rebound well in place, now trading in the sub-$3,400 region per troy ounce in response to the persistent selling bias in the US Dollar, declining US yields across the curve and growing geopolitical tensions.
Cardano Price Forecast: Whales acquire 310 million ADA amid potential triangle breakout
Cardano (ADA) shows weakness as it reverses from an overhead trendline of a triangle pattern. The altcoin edges lower by over 1% at press time on Thursday, fueling a steeper correction in its Open Interest. Amid weakness, Cardano whales have acquired 310 million ADA tokens so far this month, projecting increased confidence as the triangle pattern nears resolution.
US tariffs here to stay, trade deals ‘largely symbolic’
Despite legal challenges to IEEPA tariffs, US trade policy remains firm. Tariffs on steel and aluminium have doubled, and new sectoral tariffs are expected. Trade deals may emerge, but most will be symbolic. Effective tariff rates will stay high throughout 2025.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.