EUR/USD

The Euro holds firmly in red for the fourth straight day and hit new 2021 low (1.1665) on probe through key supports at 1.1704/1.1694 (former annual low of Aug 11/Fibo 38.2% of 1.0635/1.2349 rally).

Fresh risk aversion on fears that rising number of new Covid cases could slow global economic recovery and threats of escalation of crisis in Afghanistan, keep the single currency under increased pressure.

Stronger dollar on risk aversion and Fed’s signals of potential start of tapering, although the central bankers are still lacking agreement over key points – labor and inflation – adds to Euro’s negative sentiment.

Clear break of pivotal 1.1700 support zone would further weaken the structure and risk fresh acceleration towards the higher base at 1.1630/00 and more significant 1.1500 zone (weekly cloud base/50% of 1.0635/1.2349 ascend.

Bearish daily techs support the notion with corrective upticks on oversold conditions, expected to fade under pivotal barriers at 1.1800 zone (Aug 13 lower top / falling 10DMA) and offer better selling opportunities..

Res: 1.1715; 1.1737; 1.1787; 1.1804.
Sup: 1.1665; 1.1630; 1.1600; 1.1500.

EURUSD

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

    1. R3 1.1787
    2. R2 1.1765
    3. R1 1.1738
  1. PP 1.1716
    1. S1 1.1689
    2. S2 1.1667
    3. S3 1.164

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


Latest Forex Analysis

Editors’ Picks

EUR/USD drops below 1.1300 for the first time in two weeks

Euro held up well on Monday despite the market’s deeply risk-off tone, with the pair finding good dip-buying interest when it hit the 1.1300 level earlier in the session and recovering to trade flat on the day in the 1.1320s.

EUR/USD News

GBP/USD extends daily slide toward 1.3450

GBP/USD continues to stretch lower toward mid-1.3400s on Monday as the mood continues to sour. Wall Street's main indexes are down between 1.7% and 2.1% after the disappointing PMI data from the US.

GBP/USD News

XAU/USD bulls moving in on the psychological $1,850

Gold is headed for a positive close on Monday following a heavily risk-off session and a run for safer havens. At the time of writing, gold is up 0.3% after climbing from a low of $1,829.76 and reaching a high of $1,844.37 so far with eyes on the psychological $1,850 level. 

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

Read more

US: Markit Services PMI falls to 50.9 versus 55.0 expected

Manufacturing, Services and Composite PMI all fell to their lowest levels since 2020. There didn't seem to be much reaction at the time but the downbeat data likely won't help the market's mood improve. 

Read more

Majors

Cryptocurrencies

Signatures