Bulls fully regained control after shallow pullback and pressure last Friday’s 2 ½ month high / 200WMA (1.1347), with key barriers at 1.1364 (200SMA) and 1.1377 (Fibo 38.2% of 1.1815/1.1107) being in focus, as weak dollar adds to bullish outlook.
Overbought daily stochastic and weaker momentum warn that bulls may show hesitation at these levels and price adjustment may precede final break higher.
Broken bear-trendline offers solid support at 1.1299 and guards key supports at 1.1279/72 (daily cloud top / 100SMA).
US inflation data are due later today and may provide fresh signals.

Res: 1.1347; 1.1364; 1.1377; 1.1400
Sup: 1.1318; 1.1299; 1.1279; 1.1259




Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1381
    2. R2 1.136
    3. R1 1.1344
  1. PP 1.1322
    1. S1 1.1306
    2. S2 1.1285
    3. S3 1.1269


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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD extends its gains toward 1.1300 after the dovish Fed decision

EUR/USD has extended its gains after the Fed opened the door to cutting interest rates, stating that uncertainties have increased. Markets are awaiting EU leaders to divvy up top jobs.


GBP/USD holds onto gains after retail sales, ahead of the BOE

GBP/USD has extended its gains above 1.2700 after the Fed opened the door to rate cuts. UK retail sales fell by 0.5% in May as expected. The BOE's decision and two more rounds of the Conservative contest await traders.


USD/JPY rebounds from multi-month lows, continues to trade below 108

Fed's dovish shift continues to weigh on the greenback. 10-year US Treasury bond yield plummets to lowest level since November 2016. Wall Street looks to open sharply higher on Thursday.


FOMC: Prelude to a rate cut?

The Federal Reserve added little new to its policy prescript in Wednesday’s FOMC statement and economic projections and with the anticipation for a July rate cut long priced into market levels the reaction was decidedly uninvolved.

Read more

Gold eases from multi-year tops, still well bid near $1380 level

Gold built on the post-FOMC upsurge and rallied to near six-year tops during the Asian session on Thursday, albeit retreated a bit thereafter.

Gold News